Riding The Gravy Train: November 2016

Riding The Gravy Train

Beating the market is fun and profitable. This is how we do it.

Friday, November 18, 2016

Gold, YCS Update, NUGT

 
We've not posted in awhile, preferring to wait and see how markets sorted themselves after the U.S. election. 

We'll catch up on positions ASAP, starting with our Japanese yen short YCS and gold


YCS is up over 20% since our late-September entry, and we're raising the stop considerably to $70.90

On October 6th we predicted that gold was due to bounce, and it hit its low for the month the next day. 

On October 31 we wrote that "the bounce may continue awhile, however we've no reason to turn long-term bullish at this time."

The bounce lasted two more days before gold dropped about 8% to today's 9-month low. 


Gold may now be oversold. 

Two famed billionaire hedge fund managers sold out of gold this past week, and gold ETF redemptions were very high.  Bullish sentiment has dropped to just 6% which is roughly the same as it was a year ago when we were stridently and correctly bullish on gold while most of the world, including several major hedge fund managers and “experts”, had sold out after losing all hope.

Gold rallied tremendously in the first half of the year, and we booked great gains closing the last of our NUGT position over 400% above our entry. 

Now we're considering getting back into gold. 

If NUGT rises above $8.80 we'll buy it and place a stop below $7.20

NUGT closed today at $8.36 


 
 
 
 
 


We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Tuesday, November 01, 2016

A Different Look At The DJIA

 
An addendum to this view of several major indexes posted a few days ago.

Here's a different way to look at the DJIA:


It seems reasonable to expect a drop to at least circa 17000 if indeed the DJIA breaks down below 18000.

 
 
 
 
 


We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.