Smoking Securities

Half Baked High Finance

Pitiful Pitfalls Prevent Profits

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Trading has many advantages, but articulating long term strategies is not one of them… Though I expect good things from the precious metals sector over the next year, today is the second day of high volume downwards action, confirming my thesis that there is a short term top in gold ~900. I’ve sold all my precious metal related stocks (GLD, SLV, GDX), and have gone short for the time being, who knows when this market will find a bottom. In the “one that got away department”, INTC numbers fell sufficiently short of the nervous markets expectations, and the semiconductors are getting pounded (SSG). Agriculture seems to be following gold, and thus I’ve moved a good deal of my positions short, in cash, or in the yen. Blogging and trading might not mix too well, it is difficult to time recommendations to a reasonable degree in which the remain profitable for weeks to come, not just a few days… I will have to figure out a better method… I’m hoping the Chinese indexes continue lower… they appear to be headed to my long term bargain zone. Using linear regression, I think FXI will be attractive ~120.

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Written by chucklesamadeus

January 16, 2008 at 7:45 am

Posted in FXI, GDX, GLD, INTC, SLV, SSG

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