"Otto advises: Make gold a significant part of your long term portfolio."
Suddenly, this:
That's a U$45 move in minutes....whoooooooooosh. I hope at least one reader got on before it happened. I'm now mightily regretting changing that GLD position for SLV just on the evidence of a ratio chart, but I'm sure SLV will come along for the ride, anyway.I don't regret bailing on "the coppers" yesterday, even though my timing was maybe 4% out overall. The long term portfolio (that I don't talk about much, because it never changes and is filled with boring things like gold and high divi yield companies that pay me money every quarter) is doing just fine on this, and I'm happy to see this move.
Doesn't mean I'm jumping back in today...nor tomorrow..nor next week. Cash is a valid position right now, and while equities stay in heads-or-tails mode it'll stay like that. By the way, when I say "cash", don't assume it to be dollars. After today it won't be.