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Supper quicky note #1

Remember the market last week? All looked like we are going into a correction. I was anticipating it and hoping for it, since I wanted to add more shares to my current holdings. But, it didn’t materialized. Today the market reversed and marched up at earnings.

Last week everybody in media was freaking out what a bad earnings season we have and this week an optimism overruled the trend again. Another bump on the road up, though.

But nothing is lost. The market can create a lower high this time and then we will witness a trend reversal. So what to do now? I am sitting tight hoarding cash for the next major correction. The only exception was Gold (GLD) which I bought last week.

Once again I was able to beat the market last week. With gold and other stocks falling sharp I expected my account taking a blood bath, so I was quite surprised when I saw my account down only by -0.67% compared to S&P 500 which tanked by -2.11%. If this trend continues until the end of the year, I will have a very successful year.

If you want to see my trades and quick notes in real time (or almost in real time) check my Facebook Fan Page. I am posting my ideas there a lot faster than here.

My GLD trade from last week seems to be working well and I am seeing nice gains already (this was probably the reason for my account beating the market). Some analysts out there however say, that the gains in Gold may be temporary. I do not believe them, but we will see. If the gold market tanks further, I will buy more shares.

A massive wave of Asian buying of precious metals is emptying dealer shelves across the region. “I haven’t seen this (kind of) gold rush for over 20 years,” says the head of the HK Gold & Silver Exchange, adding that old-timers haven’t seen anything like this for 50 years.


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