UPDATE 12:40: Purchased NUGT 3x miners at $8.25 in anticipation of market going up overall.
Sunday I posted Market - What's Next? about positioning for the next wave, the consequences of free money.
Apparently, I am not the only person in the world thinking this way.
Monday Gold exploded higher, as well as Bitcoin started to move.
All this free money will have consequence, unless you bought into these sectors yesterday it will be hard to commit to stay in. Nothing goes in a straight line, so I expect a news noteworthy advance today that gets some of the public to take notice.
It should pop higher, but then I expect the big boys start pushing it down to shake out weak hands before advancing again. Churn creates profit for day-traders but not for nervous long term holders.
For the record items I purchased yesterday and prices.
GOLD - $17.25 - A well run gold company, told to me by a friend who is NOT a gold bug.
GDX - $22 - Gold miner ETF
GDXJ - $26.5 - Small Gold miner ETF
GLD - $143.5 - Mirrors price of Gold
UGLD - $136 - 3x of price of gold change
SLV - 12 - Mirrors price of Silver
USLV - $29 - 3x long silver
I am sure there are other ETF's in this sector worth looking at, but these are the ones I bought into.
As of this morning UGLD is already at 170, up 16% from yesterdays price.
Remember, as the market rises, EVERYTHING rises.
A quick hit on long market is
SPXL - 17.55 as of yesterday
Good luck!
In honor of 2008, at that bottom I went long gold miners through bottom of 2009. In honor of the 2009 Man of the Year, who enables free money for this new debacle, Ben Bernanke.
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