Today's Trade: Sold just half of BIB at $46.30, midpoint of morning range after alert.
I didn't know the Biotech index would explode higher today, or that the overall market would do so well, or I would have waited a bit on the Sell Alert.
That's why I am only taking a profit exit based on the range before noon. If you hung out longer and enjoyed the success above $48, congrats!
At least we can feel comfortable letting the other half ride for whatever this resurgent Bio Bull delivers!
My profile:
| Biotech 2x bull | BIB | Long | 6.24% | 3/23/16 | 39.30 | 48.92 | 24.48% |
Yes, ~24% profit in a single day!
The Bull Case for Gold
Today, I came across a bull case for gold that made sense to me.
Here’s the very plausible thesis: real negative interest rates globally make gold a very valid asset allocation choice for many investment institutions and so many are accumulating now. Others, and retail investors, will follow.
So even though I don't believe gold should have the relevance it did even 5 years ago when everyone was worried about run-away inflation from QE, I can see the case where there is a trade because there is meaningful institutional positioning "just in case" the Federal Reserve should really screw the new regime of fiat banking and economic cycle management.
I still think gold should test the $1140-60 area to make a solid base for the next bull market.
I just want you to have what I think is an important viewpoint to make your own decisions about gold over the next 3-12 months.
The logic comes from a reputable precious metals investor, Frank Holmes of US Global Investors
Gold Had Its Best Quarter in a Generation. So Where Are the Investors?
So if you follow me, then buy Gold ETF or gold miner ETF in any dips.
