More fabrication to make us feel good

Jobless claims came out today.  It's all good...or so they say.  Does anyone really believe that things are getting better for the average shmo in the US?  I don't, and I hope you are not so naive to believe the party line.  Whichever party that may be.  I'm not a democrat or a republican, I'm a realist.  I try to see what's coming, and what I see doesn't make sense.

Food stamp recipients are at an all-time high, but jobless claims are getting smaller?  REALLY?!  I guess if nobody stops to think about the conflicting data, we'll all just move along.  Nothing to see here.  Don't panic, remain calm. 

Here's today's gold chart.

http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&b=5&g=0&id=p22695175967

I think we may be beginning a new uptrend to pull us out of the gold consolidation period that we have been in for the last four months.  It started in mid-October.  The bottom of this rectangle around $1310 and the top around $1420.  We may see gold decline in the next few days to a week, but as long as it doesn't dip past the $1320 area, I would say we are in good shape.


Bought an option on GDXJ today for a August strike of $35.  Looking to take out the old high of 41.63 back in early December.  I just cashed out of a GDXJ option three days ago for about a 35% gain that I established around January 24th.  These stocks and etf's look like waves if you look at the charts...hence the name of the blog, pmsurfer.  I am going to surf these waves until the Dow:Gold ratio goes to around 2:1 or lower.


I am not a professional trader, and I am not a day trader.  I am a speculator, and proud of it.  I am not married to my stocks, I am married to my wife.  Have a plan when you trade, and try to keep emotions out of it. 

My intent with this blog is to share my trading experiences with a wider audience as I believe this process works better when you put it out there.  It also affords a great opportunity for self-analysis.  If you care to trade along with me, be my guest.  Just remember...I am not a professional stock broker, nor am I licensed.  What I am is an investor that takes his retirement savings seriously, and I know that the only one who cares as much about my personal investing portfolio is...nobody!  Take control of you own retirement savings as I don't believe Uncle Sam is going to care of you...If he does, that's just icing on the cake.


Until the next time...