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Hope so. I had sold puts for harmony for today for $15. 10 of them. Only got $1. Yesterday I bought them back for 50C. That's 100% gain so it's ok. But it's obvious today I didn't have to buy them back at all. Nice. It's nice for me because it gives me confidence in my choices. Next time harmony falls I'll have more guts to buy more of it. I'll bet you are sleeping well again! Freeus
Freeus, Hi. Harmony's wave 4 is locked in...onward and upward from here.
Here's the latest from John Murphy today....
FALLING DOLLAR BAD FOR STOCKS -- BULLISH FOR GOLD... A falling dollar is usually bearish for U.S. stocks. For one thing, it shows lack of confidence in the U.S. economy. It also discourages foreign money from buying U.S. bonds and stocks. Recent numbers show that foreign money is already starting to leave the states. In time, attempts to support the U.S. currency may lead to higher U.S. interest rates, which would also be bad for bonds and stocks. As we've stated several times, the main winner in this scenario is gold and gold stocks. The gold chart looks remarkably similar to the Euro (and a mirror image of the dollar). Gold bullion is also challenging major resistance around $325. A decisive close through that barrier would be a major bullish breakout in gold. The XAU Index is also stalled at a major resistance barrier. The odds for bullion and the XAU breaking through resistance would be greatly increased if and when the dollar crashes through support.
aha, glad you wrote that, I was wondering about buying and holding ANYTHING. Probably ok with hgmcy and gg. I am wondering about mutual funds. I have a large part of my money in 3 wasatch small cap value and growth funds which did fine during the beginning of the bear but are starting to weaken. They are closed so if I get out I cannot get back in. But I am frankly expecting another couple of years of bear market so I wonder if I just sit through it and assume they'll make it up or get out and get into a treasury fund or gnma which is "safer". Any thoughts anyone? Freeus
I just feel a sense of pessimism about the dollar and our economy. Not a dramatic terrible environment,just a negative attitude. I think lots of foreigners have pulled out,which has caused further dollar erosion.
I can always be wrong,but I feel gold's day is here,so I am in for the long haul.