bclemms
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Gold is making new 5 year highs and the mining stocks which have not been having the same success as gold lately are overreacting so really nice gains on NUGT the past few days. Sold about 10% yesterday afternoon and just sold another 15% this morning. I got overexposed when NUGT dipped into the 28 range because I pushed all in on the dip.
I still see gold having a huge upside if the economy turns south or coronavirus gets much worse than what is expected. If Coronavirus impacts are less than what is currently expected I think the markets are going to boom and the Fed seems intent on getting inflation up which will also push gold higher. Only downside I can see is if the market just gets caught in neutral and deflationary pressures show up but I think the world banks have shown they'll spray liquidity everywhere to keep that from happening. I just don't see long term downside until after the market has a huge correction. I feel like gold is still in the early stages of a long bull run. Just wish there was a better way to play it long than buying gold coins or playing in high expense ETF's that don't really do a good job tracking gold over long periods.
I still see gold having a huge upside if the economy turns south or coronavirus gets much worse than what is expected. If Coronavirus impacts are less than what is currently expected I think the markets are going to boom and the Fed seems intent on getting inflation up which will also push gold higher. Only downside I can see is if the market just gets caught in neutral and deflationary pressures show up but I think the world banks have shown they'll spray liquidity everywhere to keep that from happening. I just don't see long term downside until after the market has a huge correction. I feel like gold is still in the early stages of a long bull run. Just wish there was a better way to play it long than buying gold coins or playing in high expense ETF's that don't really do a good job tracking gold over long periods.