Well it looks like I sold the TZA prematurely which reminds me of a old time trader who once said “I tend to buy too late and sell too early”. The moral of the story is perfection is unattainable in investing but if you book profits on a high percentage of your trades you’ll do very nicely in the long run.
We’re currently sitting with approximately 50% cash and 20% in Gold and Silver in most accounts which makes us very defensive. But I’m wondering if this latest downside thrust is a bit too much and a bounce higher is coming. Our oscillators are very stretched on the downside so it appears to me that we’re at a low risk juncture for a quick bounce higher lasting a few days. For this reason I’ve take out a moderate position in BGU at $42.52. The Nasdaq is trading higher with gold/bonds weak today. This is nothing more than a short term trade.