Monday, October 6, 2008
7:55AM PDST GOOD MORNING GOLD BUGS!
Well, I feel much better this morning, physically, but I managed to screw up on my trade. I had trouble getting to sleep last night as I stayed in bed until after 1pm Sunday morning with a small headache, the kind you have just before you think you're going to puke. Didn't have much of an appetite but need something besides my coffee, so I had a mini-pizza, some garden tomatoes with Italian dressing, and a glass of red wine. Felt pretty good until the pain began. Thought it might be appendicitis, but the internet dispelled that. It's great to have all that info at your finger tips, because your doctor never tells you anything anymore. Anyway, I went to bed about 11:00pm and couldn't really sleep and was very uncomfortable but not in pain. I had to watch the market because my contracts (at the green line on my charts) were losing, and gold was looking very weak. Well, I finally fell asleep about 1:00am or so, and at 3:30am, I opened my eyes and was almost to tired to roll over and look at the laptop. But I did, thankfully, and saw that gold has jumped up above my contract price. Well, this happens all the time and then it falls back immediately and you are a loser again, and still sleepy. Well, I managed to organize my screens quickly and hit the SELL BUTTON and was happy to be out of what I thought was a weak market right when I have to be away from the computers while I go to the doctor. Right after I hit the Sell button, gold just kept going, and within minutes I would have had at least 5 times the profit I took. Well, that's the way it goes. At least I'm out with a profit, I thought and can go do what I have to do without having to worry about the market collapsing on me while I'm away...(I hate using stops!) So I rolled over and went back to sleep. The alarm goes off at 4:00am, but I switched it to 5:00am because I figured, I can't trade this morning, and I need some more sleep, or I'll be dragging later this afternoon when I'm at the doctor or in the hospital. Well, the alarm went off at 5:00am and I looked at the market and saw that it had moved up another step...but what could I do? So I rolled over again. Well, around 7am or so, I felt well enough to get up and the cats needed feeding (I feed them regularly at 5:30am and pm, and they usually let me know when I'm tardy, but this morning they let me sleep...animals are very intuitive. Well by now you can see where the market has gone and I made maybe a fifth or less of what I could have made. I wait for days for these moves and even get upside down in the trades, and wait them out with some degree of anguish, then manage to jump out just before they take off. Damn! Well, it looks as though gold has disconnected from everything so far. Dow is collapsing along with the rest of the World, Euro is way down, Oil fell to 88 but has come back up, Bonds are way up at 122s (ridiculous, because they are going to crash, and they don't pay anything, but that's where money goes for safety...Guv'mint Safety, hahaha!) Gold knows what it's doing, and Sinclair is right as usual that gold will go up no matter what happens elsewhere, as it is the UNIVERSAL SAFETY HEDGE and is REAL MONEY! You are now going to see gold moving up with shorter pull backs, like stair steps, as it pauses to consolidate to build energy for the next up moves (called "coiling"). You buy the dips and only sell PART of your CORE POSITION on really big run ups, and maybe not even then, as gold could just keep going as this whole nasty mess collapses like a volcano's crater does after it explodes, or like a giant sink hole collapses getting deeper and deeper as it sucks in everything around it. I am leaving for a quick run to the vet with my cat now, and then will watch the market unless I can get a quick doctor appointment and get my guts checked out. I probably get to have the hose stuck up my bumm to see what has died in there. Hang on gang...I think we are the winners after all!