A Week Too Early
by JDH on September 7, 2019
Last week’s post described how I was Increasing my Allocation to Gold. On Thursday, gold was down $35, for it’s biggest one day drop in 3 years. So either I’m wrong and gold is going lower, or I was early in increasing my gold allocation.
I believe I was early, but not by much.
Three months ago gold was at $1,320. On Friday it was still decisively over $1,500, so I don’t see a big crash in progress. This looks to me like a correction, and a minor one at that, so I will continue to add to my positions in the coming weeks.
I believe gold is going higher, but there’s another factor here as well: sector rotation.
The cannabis stocks had a great run, we all made money, but unless there is an impetus for those stocks to move higher, they will stagnant, and investors will continue to sell them; where do they put that money?
What’s the next hot thing?
Gold.
That’s my thought; we’ll see if I’m correct.
More next week.
A Week Too Early
by JDH on September 7, 2019
Last week’s post described how I was Increasing my Allocation to Gold. On Thursday, gold was down $35, for it’s biggest one day drop in 3 years. So either I’m wrong and gold is going lower, or I was early in increasing my gold allocation.
I believe I was early, but not by much.
Three months ago gold was at $1,320. On Friday it was still decisively over $1,500, so I don’t see a big crash in progress. This looks to me like a correction, and a minor one at that, so I will continue to add to my positions in the coming weeks.
I believe gold is going higher, but there’s another factor here as well: sector rotation.
The cannabis stocks had a great run, we all made money, but unless there is an impetus for those stocks to move higher, they will stagnant, and investors will continue to sell them; where do they put that money?
What’s the next hot thing?
Gold.
That’s my thought; we’ll see if I’m correct.
More next week.