Disclaimer

I will not be responsible for any material that is found on this site or at the end of links that I may post on this blog site. Mistakes may happen from time to time. URLS and domains may change hands. If you need financial advice or someone to hold your hand while you make the trade, please find another site.

Because the information on this blog are based on my personal opinion and gosh I am so fucking opinionated, it should NOT be considered professional financial investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional, preferably both and in that order. My thoughts and opinions will also change from time to time as I learn and accumulate more knowledge,or my meds wear out, or my post coital euphoria passes.

Feel free to comment on my ideas or ask questions in the comments section for the blog entries. Please remember that this is a blog, and you do not need to agree with everything or anything I write (except I am very needy when it comes to my looks...so you have to say nice things). I reserve the right to delete any comment for any reason (abusive, profane, rude, etc.) so please keep the comments polite, unless you are criticising Gold Bugs...in which case go wild....doggie style.

This site is also dedicated to preventing small traders from having their accounts go supernova by listening to Gary Savage. To read more about him, please browse through the posts and also see http://smartmoneytrackerpremium-exposed.com/


Wednesday, November 30, 2016

The Title

The title of this site can be read as Gold Bugs Pray.....which would be appropriate as they seem to believe a lot more in the end of the world than the average person.
It is however GoldBug Spray, as in insecticide for the Gold Bugs. Gold bugs make ludicrous claims and it is my aim to get them to act a little bit more rationally with their portfolios and perhaps their lives.
I will try and dissect one argument a week. I will also repost my comments from other sites as a lot of my timeless wisdom is already contained in it.

19 comments:

  1. My first comment to your blog:
    Whoever buying Nugt is a Nut.

    ReplyDelete
    Replies
    1. Thank you!
      I do believe that leveraged funds specially 3x are great intra day trading vehicles, but they suck for buy and holders.

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  2. I am buying GDX, 100 share at a time. I think $20 may hold.

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    Replies
    1. Possible. The worst of decline is over...so your risk is much lower. I remain negative on the relative value of GDX but as an absolute value it might go up.

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  3. The same thing that happened after the last December hike will happen again. Gold will rise 200-300. Each hike will have the same effect. The BULL is here....

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    Replies
    1. Ok...Hate to be Captain Obvious here...but you do realize that you are using a sample size of 1, correct?

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    2. This comment has been removed by the author.

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    3. That was an intelligent comment you should have kept it.
      However there have been other periods between 1970 and 2004 that gold did not move in lockstep up and actually had an inverted relationship with Fed hikes.

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  4. NUGT has very high rate of decay because it uses options to achieve it's 3X leverage. That means that option time decay is a major factor in dtermining how quickly NUGT degrades over time.

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  5. So far, so good.
    But if "Eric Original" shows up here, I'm gonna shoot something.

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    Replies
    1. WHo is Eric Original?
      I have so much to learn about the Gold Bugs....sigh.

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    2. http://www.tfmetalsreport.com/forum/2795/eric-original-erm-original-primer-financial-repression

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    3. Thank you. You have just given me a topic for the first analysis.

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    4. Your input at SMT will be missed. I agree that Gary is a huckster but he has become quite valuable as a contrary source. The guy is wrong amost as often as Dennis Gartman.

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    5. They should start a collaboration. Only enter into a trade when they both agree.....could be the dream contra-indicator.

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  6. Duck, you see to have a very good understanding of how the markets work. Do you plan to cover other markets, such as oil and the S&P in more depth?

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    Replies
    1. Hi. Not in depth. It is hard with a full time job. If I had 2,000 subscribers paying me $100 a year....it would be different :) I almost missed this comment as it was on the first post rather than the most recent one.

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  7. If you keep up with the great analysis, the subscribers would come and you could quit your day job and become a millionaire (like Gary says he is).

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  8. I doubt that. I have no capacity for bullshit and I cannot pretend to be 100% confident about every call :)

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