While cryptocurrencies shocked the world in 2017, many going up thousands of percent, the much anticipated arrival of futures trading ushered in a massive correction for BTC, the poster child of the sector. I sold all of my cryptocurrency related investments before the correction. Anytime you can take profit on a great gain, you should!
To quote legendary investor and Disney "UP" star look a like Bob Moriarty (google it):
"Guys, it's this simple. If you won't sell at a profit, you have to sell at a loss; there are no other alternatives."
Meanwhile unbeknownst to most, after a brutal 4 and half year bear market, Gold has been staging a stealthy return to form with Reuters reporting:
Gold soars toward largest annual gain since 2010 on dollar boost
What happened after 2010 again?
Gold hit it's all time record on the back of US Dollar weakness.
You see, Gold is negatively correlated with the US dollar. When one stages a rally, you can be sure the other is staging a fall.
And what do we have today?
The dollar rolling over.... HARD
Zooming in, more specifically what we have is a head and shoulders pattern on the dollar which is extremely bearish over the short term.
..But Incredibly Bullish for GOLD
This set up, which I identified almost two months ago and was a large part of the inspiration for writing the article:
I've Waited All Year for This!
How to Double your money in Three Months
In the hopes I could make some of my friends and readers richer with me.
It's Not Too Late!
Look, I've personally double downed on this bet. Investing over $30,000 of my own money that the precious metals complex will continue to stage a terrific rally over the next 3 months.
If you want to follow along with me on this trade here on the positions I've taken:
- Gold Mining @ .98 (GLDLF)
- K92 Mining @ .33 (KNTNF)
- First Majestic Silver Apr 20 2018 $7.00 calls
- Pan American Silver Feb 16 2018 $17 calls
Gold hit it's interim low of $1,240 a few weeks ago before the December rate hike.
But Prepared to be Shocked!
As Gold smashes through $1,400 and hits a 5 year high in 2018
Until Next Time
It's your move.
Thanks for reading, if you enjoyed this rant, you might also enjoy some of my