Sunday, May 12, 2024

Quick Update

Small additions in last week's correction:

  • Bought more gold, some GDX and GDXJ.  Would like to buy more but no money.  I'm also late to the party - everyone knows about gold's new highs - so keep it small.
  • Shorted TLT
Other news:
  • AEM (SGX) dives 15% after delivering a bad 1Q24 update.   Need to wait longer for the upturn.  Cyclicals are tough.
  • Portfolio is up 1% last week.  

Its a very "risk on" portfolio.  My gut feeling is that the correction will continue, maybe triggered by Thursday night's inflation numbers.  Possible a falling SPY and rising VIX will drag down my portfolio, even though they are commodities and value which should benefit from inflation. Vol spikes, everything tumbles.

No plans to do anything, even if this happens.  Just pay off debt.  I'll only sell the short term holdings when the Hedgeye signals change.  If all goes well I won't be making any changes for a long time.



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Update 8th May 2024:
  • Shorted another 1% TLT
  • Portfolio has gone up another 1 or 2% again.

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