The Best It’s Ever Been
by JDH on October 14, 2017
The headlines tell the story:
Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High
Nasdaq rises to record close as Wall Street bets on strong earnings season
Everything is great. Interest rates are low, unemployment is low, the economy is great. Granted, the feds have pumped in a trillion or two dollars to keep the lead balloon aloft, but hey, until it crashes, all is good.
I’m not complaining. I’m happy with where gold is at.
In September the price of gold finally exceeded the “Trump Bump” level of election night, and in 2017 gold has been a solid performer.
Between September 21 and 27 I accumulated NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS, with an average cost of $33.79. It closed on Friday at $35.26, so I am sitting on a small profit. I considered taking some profits, but I have decided to “let it ride”.
Why?
Two reasons:
First, it’s possible that Trump or the Rocket Man will do something crazy, and that may cause gold to spike. I don’t actually expect anything to happen. Trump is a talker, a negotiator, so I assume that he assumes he can talk the USA out of a war. I hope he’s right. If not, I’m adequately positioned.
Second, this is a seasonally good time for gold, so I plan to ride that train for at least another week or two. We’ll see.
That’s the plan. More next week.
The Best It’s Ever Been
by JDH on October 14, 2017
The headlines tell the story:
Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High
Nasdaq rises to record close as Wall Street bets on strong earnings season
Everything is great. Interest rates are low, unemployment is low, the economy is great. Granted, the feds have pumped in a trillion or two dollars to keep the lead balloon aloft, but hey, until it crashes, all is good.
I’m not complaining. I’m happy with where gold is at.
In September the price of gold finally exceeded the “Trump Bump” level of election night, and in 2017 gold has been a solid performer.
Between September 21 and 27 I accumulated NUGT – Direxion Daily Gold Miners Bull 3x Shares NYSE + BATS, with an average cost of $33.79. It closed on Friday at $35.26, so I am sitting on a small profit. I considered taking some profits, but I have decided to “let it ride”.
Why?
Two reasons:
First, it’s possible that Trump or the Rocket Man will do something crazy, and that may cause gold to spike. I don’t actually expect anything to happen. Trump is a talker, a negotiator, so I assume that he assumes he can talk the USA out of a war. I hope he’s right. If not, I’m adequately positioned.
Second, this is a seasonally good time for gold, so I plan to ride that train for at least another week or two. We’ll see.
That’s the plan. More next week.