meazza Posted December 16, 2010 Share Posted December 16, 2010 The TBT trade which isn't listed, but I did mention it in one of the earlier posts went from $32 to $40, and I just got out of it about 10 minutes ago. FCX was another great play went from $84 to $117, I sold it last week, it's back to $110 and I just picked it back up. Copper and Palladium are my favorite commodities for 2011. I bought JP Morgan 2 weeks ago, but sold it once it went up a couple bucks, I happened to have bought it the same day (but before I heard) that Goldman placed it on it's conviction buy list. I'm thinking about going back in there again. Just went short gold. DGZ US Equity. Let's see if I'm right. Link to comment Share on other sites More sharing options...
Magox Posted December 16, 2010 Author Share Posted December 16, 2010 Just went short gold. DGZ US Equity. Let's see if I'm right. spot gold has already gone down 5%, which is normal for gold going into Christmas holidays as investors usually book profits in this sector at this time of the year. Having said that, you'd be crazy to continue to short gold in January and February, those are two of the strongest months of the year for gold. It has yet to decline during that time of the year over the past 10 years. There are powerful seasonal cyclical factors for precious metals. I just tell you that through my experiences. Link to comment Share on other sites More sharing options...
meazza Posted December 16, 2010 Share Posted December 16, 2010 spot gold has already gone down 5%, which is normal for gold going into Christmas holidays as investors usually book profits in this sector at this time of the year. Having said that, you'd be crazy to continue to short gold in January and February, those are two of the strongest months of the year for gold. It has yet to decline during that time of the year over the past 10 years. There are powerful seasonal cyclical factors for precious metals. I just tell you that through my experiences. Well it's not a big investment so even in the short term, even if spot gold increases significantly, I think in the long term the market will pick up again and the opportunity cost of holding gold will increase driving down the price. Of course, it could also go even higher in case of greater uncertainty which is why I didn't really bet a lot relative to my porftolio. I appreciate the advice though. Link to comment Share on other sites More sharing options...
Magox Posted December 17, 2010 Author Share Posted December 17, 2010 (edited) The TBT trade which isn't listed, but I did mention it in one of the earlier posts went from $32 to $40, and I just got out of it about 10 minutes ago. FCX was another great play went from $84 to $117, I sold it last week, it's back to $110 and I just picked it back up. Copper and Palladium are my favorite commodities for 2011. I bought JP Morgan 2 weeks ago, but sold it once it went up a couple bucks, I happened to have bought it the same day (but before I heard) that Goldman placed it on it's conviction buy list. I'm thinking about going back in there again. I know it's only been a day and things can change quickly, but since I sold the TBT yesterday that was at $40, it now stands at $38.15 which is a 4.6% downturn and the FCX that I picked back up yesterday is at $113.65 is a 3.3% gain. I'm cashing out Edited December 17, 2010 by Magox Link to comment Share on other sites More sharing options...
meazza Posted December 17, 2010 Share Posted December 17, 2010 I know it's only been a day and things can change quickly, but since I sold the TBT yesterday that was at $40, it now stands at $38.15 which is a 4.6% downturn and the FCX that I picked back up yesterday is at $113.65 is a 3.3% gain. I'm cashing out Drinks are on you then? Link to comment Share on other sites More sharing options...
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