Gold has fallen out of bed.
I sold two thirds of my gold shares at a small loss on Thursday. I sold the rest at a much larger loss this morning.
Unfortunately during my trawl for undervalued shares last week I picked up a couple of gold mining stocks which suffered along with the ill fated metal. So another hefty loss there. No point in agonizing over mistakes. This whole business is about taking risks and that means sometimes you're wrong. When you are wrong the best thing to do is walk away and look for the next opportunity. You are going to be wrong often. All you need to do is to be right more often than you are wrong. But you've got to live with your mistakes.
Stocks
I am more sanguine about the rest of the market which is doing me few favors at the moment. You could argue that I went in too early. You could argue that I misjudged the strength of the renewed rise in the market. You could be right. But to me the DOW still looks OK.
Even the FTSE is doing its best to resist the pressure of the bears.
On a personal note
The more observant of you will have noticed that I can't spell. I don't do as well as my father who claimed to be unable to spell in five languages. My wife has been kind enough to point out that bad spelling continues to leak out. The spell checker on blogger is not the finest. A strategy would be to compose in Word and then transfer but that would be a bore. Also it would not help with my poor grammar and punctuation.
So I'm sorry guys you'll just have to put up with it. It's the message not the medium that counts. And the message is in there somewhere.
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