How hard has it been to buy lately…

Come on, my friends,
Let’s make for the hills.
They say there’s gold but I’m looking for thrills.
You can get your hands on whatever we find,
’cause I’m only coming along for the ride. — Pink Floyd

“What do you think of gold?”

If I had a gold coin for every time I’d heard that in the last six months…well, I’d sell every one of those coins right now.  But anyway, gold’s crash of $100 is the story of the day still and that won’t change between now and the close, I’d assume.  Silver also crashed today.  I might buy some SLV puts in coming days and maybe some GLD puts too, depending on how they trade.  But not yet.  If they are truly popping and going to crash, we can catch a big part of the downside after the initial topping process pulls them lower.

I’m not making any trades in this muddled market today.

I often point out that the hardest trade to make is usually the right one.  How hard has it been to buy lately?  How easy is it to sell any strength?  Hmm.

I’ll send out the transcript to today’s chat tomorrow.   Back with a market wrap up post next.