Whoa- Gold dropped 4% today-
That was a surprise- I was making breakfast and feeding my son and saw my portfolio red-
No need to panic, I have been expecting a correction. Well, because it is gold.
It never goes straight up. As soon as I fed my son, I started buying
HL, AG, GOLD, NEM, EMX, SAND…the companies that have solid fundamentals.
Yup, they will be up in the long term. And I expect that the gold price will recover somewhat next week.
So I will swing trade a bit and expect some good returns.
I started accumulating AG and GOLD. But I will swing what I bought today.
I expect more volatility coming. I think once gold price starts breaking out to near $2,000 I will fully accumulate.
For now, swing trading is working well.
The markets are just crazy expecting more stimulus. Given how much hatred exists in the Democrat party, I doubt it will be easy to just hand out money. So- Lot of ups and downs, depending on stimulus timing and amount- And gold will also follow that pattern.
So for now, swing trading is fine. Yes, I still have lot of cash. 30% as of today because I put 10% on gold miners.
Praying for our nation and the world. COVID 19 still out of control and lockdowns destroying the economy and lives. Praying for strength and wisdom. Also, praying for wisdom and compassion for our leaders.
Jesus, let us not be weary or angry. Let us rely on You alone Lord. You are a good good Father and You will take care of us. Please protect us and bless us Amen-
Rejoice at all times. Pray without ceasing. Give thanks in every circumstance, for this is God’s will for you in Christ Jesus.
1 Thessalonians 5: 16-18