and strangely its the precious metals leading the way down.
also, bonds and the stock market are slightly bid.
I may be taking some of my commods off today as I am reaching a point of heavy frustration and thinking about these positions too much. I find when you start thinking a lot about your positions when the market is closed (in a frustrated way) you probably have too much size or need to exit the POSition.
I imagine I should be buying instead of selling but piece of mind is worth something (not sure how to quantify that). Sometimes it's hard to let go of a position where you have given a lot of the gains back, but after you do it will be a weight off your shoulders.
My stops for today on 1/2 my gld @ 89.59, 1/2 my slv @ 12.49, gdx @ 35.49. I still fully believe we get huge inflation and the PMs hit new highs within a few years but just don't like the constant account drain near term.
54 minutes ago
Funny, Isn't it? Dollar is down, yet GLD, SLV and TBT are down as well. There is some level of disconnect here. I'm in long term, buy I did buy my GLD July calls back too soon, which usually is the case!
ReplyDeletei still like all these positions but just need to pair back a little to be more comfortable
ReplyDeleteapparently gold is no longer a safe haven play
ReplyDelete