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.
8 hours 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