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Mona Bemoans the Gold Bull Break (GLD)

Posted on September 7, 2020

It’s not that we take pleasure in being spoilsports…

But the truth is, someone has to a call a spade a spade.

And if it weren’t for the few brave and mighty (like us), no one would step up to the plate and swing like Almonzo “Golden Boy” Ritchie, Lord rest his soul – nor would anyone know the truth…

Briefly…

Almonzo was perhaps the greatest slugger you never heard of.

He passed from this world when the tug he was pulling along the Erie Canal (for charity purposes, you know) capsized, dragging him to a murky death just west of Lockport N.Y.

Some suggested foul play, when the jilted EX of Almonzo’s lover, Mona Boddice-Stretcher, surfaced nearby with a giant cork in his hands, hopped on a waiting steed and sped off in the direction of the haunted Spalding Mill, where Mona’s ghost, it’s still said, cries nightly for her beloved home run king.

Nope.

We’re talking about gold today, friends; we don’t like it, not one bit.

We’re stealing a bit of brother Matt McAbby’s thunder in the process, but as we say in the business, timing is everything.

So here goes.

Gold looks bad.

Whether it’s a temporary phenomenon or longer lasting, we can’t say.

But profits ought be taken, and now.

Why?

First take a look at the

Maximum loss is $5.11.

Maximum gain, theoretically unlimited.

With kind regards,

Hugh L. O’Haynew

3 responses to “Mona Bemoans the Gold Bull Break (GLD)”

  1. M T says:

    I’m in but with spreads…really trying to trim exposure across the board as it might be one of those times to preserve the ol’ firepower…if the market is a mirror on what is going on around me, it has surely gone mad.

    All the best. Hope back to school went/is going well…

  2. Hugh L. O'Haynew says:

    bs’d
    Bless you, MT, and your persistent sanity.
    Hang on to it.
    Yes, the planet’s drifting into a banal from of derangement, and dry powder will be crucial.
    The market’s madness is expressed fully only at tops and bottoms, though.
    When you can ONLY profit (so throw in all your funds without thinking — à la Portnoy) or ONLY lose (so sell everything regardless its value), the lunacy is complete.
    We’re very close to the former.
    May the Most High see us through to better days.
    Hugh

  3. M T says:

    What. A. Trade.
    Are we in a “no sleep till the 137” situation?

    /GC has me tossing and turning…this camel is feeling the load!

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