Pulling the Trigger
Yes, I might be early. And if so, it won't be the first time. In fact, as you may know, I have already been doing some buying into this selloff. But I raised plenty of cash during the recent pop to new highs, so I was well positioned to add to bullish bets on the way back down, especially as some key gaps have been getting filled.
As of yesterday's close I had returned to a maximum of 65% invested for my accounts at Guggenheim Investments (formerly Rydex), with most accounts in the 40%-50% invested range. Good news, at least for the moment, is that a chunk of those funds are in the Precious Metals Fund and that sector has been holding up pretty well over the past few sessions. In fact, the Philadelphia Stock Exchange Gold/Silver Sector Index is up a bit for this week, and the fund should be up as well. I like the sector even more, now that I hear that Dennis Gartman has been cutting back and is no longer so bullish on gold. That's a pretty good sign that gold is putting in a near-term bottom....605 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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