Sangfroid~ Key for enjoying health and prosperity in the markets.

February 22nd, 2010 by Rich

In particular, the Big4 have been short gold since before its 1226.40 peak of Thursday 3 December 2009, two days after Barrick Gold announced it had spent $5 Billion buying back all its gold hedges, and peaked, a time of maximum optimism for gold.

http://stockcharts.com/charts/gallery.html?s=abx

Careful readers may choose to review the Sentiment Finder here:

http://www.sharelynx.com/chartsfixed/1TradingSentiment.gif

Our hunch is that we may be somewhere between

5: I’ll use this correction to increase my position

and

6: Brilliant, at this price I’ll double it!

Next comes

7: Ouch! As soon as it goes back up I’m selling out!

By way of demonstration, a friend, knowing we are bearish on gold during deflation, having ridden it up from $105 to over $1200 during inflation and disinflation, referred us to this website offering a $50,000 wager that gold would close above $1200 before it closed below $1000:

http://grandich.agoracom.com/2010/02/an-open-challenge/

We noticed not one golden bear, and in fact, another bet for $500.

Being of sound contrary mind, with battle-hardened sangfroid, we quickly accepted both offers within the time limit and saw our post at:

http://grandich.agoracom.com/2010/02/an-open-challenge/comment-page-1/#comment-19914

To no contrarian’s surprise, we noticed our acceptance of the offer was removed with no explanation or response despite a subsequent inquiry referring to the world of a gentleman, particularly regarding financial matters.

Let us make of it what we will.

We consider sangfroid an investor’s best friend, particularly when we feel alone, fearful or greedy…

Regards*Rich

JubileeProsperity@gmail.com

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This entry was posted on Monday, February 22nd, 2010 at 7:58 pm and is filed under Prosperity. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Sangfroid~ Key for enjoying health and prosperity in the markets.”

  1. Vahram Says:
    February 26th, 2010 at 4:25 pm

    Rich can you enlighten me on what the Big4 and TopTen is? I see you mentioning it now and then in your posts. I’d be interested, even if you could email it to me.

    Regards

  2. Rich Says:
    February 28th, 2010 at 7:13 pm

    Aloha Vahram
    Big4 is a Weekly Asset Allocation Report of the net position of the four largest traders in each asset category for $2000 a year with a money back guarantee if ideas do not cover costs in a year.
    TopTen is a Seasonal Portfolio of Closely-Held Dividend Discount Values with the same money back guarantee for $1000 a year.
    Subscribers repeat and grow because of performance through various market cycles.
    Expired copies of back issues to protect current subscribers were sent to your private address.
    Regards*Rich

 

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