No! Sarcasm success! Woohoo!
This is an update to yesterday's Sarcasm Report.
Don't let this technical analysis opportunity slip past you. It is not too late to invest accordingly.
January 4, 2011
Crude Oil Tumbles the Most in Seven Weeks as Metals Decline, Dollar Gains
Crude oil fell the most in seven weeks in New York as commodities including precious metals tumbled and the dollar strengthened.
I sold some Ag last week, actually I sold enough to get my money back.
ReplyDeleteI had it in my head I would 'gamble' with the rest, but after today's a** whippin' in the metals I was thinking maybe I should have sold it all last week, both Au & Ag.
At one time I thought that I would just save it and hand it down to my daughter, but here lately I think I've finally came to the conclusion that if we ever did have a SHTF scenario, I doubt it would do her much good.
Besides, I will make sure she has a good shotgun...and knows how to use it.
Back to Au & Ag, would I be a buyer at these prices?
Not no, but hell no.
But that doesn't mean that I don't think it could go higher, it's just that I'm dealing with that 'fear vs greed' animal right now and 'fear' thought that it couldn't hurt to take some off the table.
Should I have taken it all off?
Well 'fear' begged me to, told me to cash out while the cashin' out was good.
But 'greed' assured me that "it's different this time".
And then reminded me that I wouldn't be satisfied until there was much "weeping and gnashing of teeth" because as the kids used to say, "that's just how I roll!".
Did I ever mention that I was 'in' when the tech bubble popped?
Ouch.
Great. Silver falls when consider to sell. Typical.
ReplyDeleteCoba
watchtower,
ReplyDeleteThat 'fear vs greed' animal is one heck of a powerful creature.
I bought gold and silver in 2004 out of fear that my dollars would not hold their value. I sold in 2006 as they turned parabolic out of fear they would not hold their value.
I own TIPS, I-Bonds, and cash out of fear.
There's no greed left in me. None. I have no complaints so far. My situation is a bit different than most though. I consider myself very fortunate that I don't feel the need to embrace greed any longer.
I think about that when I read about people in poverty buying lottery tickets. Hope is worth something too I suppose. Just look how expensive it can get. Sigh.
Coba,
ReplyDeleteOn the off chance the world revolves around you, would you mind posting that you are considering selling some TIPS? I'd like better prices in the upcoming auctions. ;)