Irrational Gold Selling
Last Monday I couldn’t believe my eyes when I saw that the price of gold had dropped $44.20, which was weird enough since Kitco was showing the “Gold Price Change due to Weakening dollar” was up by $23.00, meaning gold should be going up thanks to the weakening dollar, while the “Gold Price Change due to Predominant Selling” was down a whopping $67.20! Wow! Selling!
Since most of the problems with my medications regimen seem to be finally solved, what could I do but laugh, although weakly, in a kind of dull, sedated babble, “Hahahahahahaha!” at the sheer incongruity of it all, instead of going off on a Manic Mogambo Tangent (MMT) of some kind, probably either about how the Federal Reserve has destroyed the dollar by creating too many of them, or, on a more timely topic, about what idiots the sellers of gold are.
Apparently, these market-timing geniuses have failed to understand that that this is the Perfect Freaking Time (PFT) to buy gold, because here they are, selling! Hahaha!
Observant Junior Mogambo Rangers (JMRs) have taken note of the fact that my laugh is less than the usual Loud Mogambo Laugh Of Scorn (LMLOS) of story and song, and instead is a weak, nervous, “I wish I was dead!” titter of laughter, like the time when you came sneaking into the house or office early in the morning or late in the afternoon, respectively, stumbling drunk, trying to be quiet, wearing your own underwear like a weird hat for some reason that you can’t recall, and your mom, wife or boss was waiting for you.
And the reason for my lack of uproarious mirth is that something is, in a word, weird. I mean, selling gold right now is so devoid of reason that I want to laugh heartily at the idea and at the stupid people that got the idea to sell gold, but I can just sit here, dumbfounded, shaking my head in disbelief and tittering nervously.
Obviously, I am now of the “buy and hold” camp instead of the “trader” type of person, as I have “discovered” many important things about trading stocks, bonds, commodities and their derivatives, and by “discovered” I mean “scarred and bloodied by slimy insiders, with still-festering open wounds and tender scars, both emotional and financial.”
And all of it could have been completely avoided if I had read Nassim Taleb’s book The Black Swan and found that the bell-curve of normal probability is not how things really work over the long term, or if I had internalized the related discoveries of non-linear systems (“Chaos Theory”), or if I had a wife that had said, “Don’t be an idiot! You are too stupid, too ignorant and full of too much Bizarre Mogambo Crap (BMC) for you to ever – EVER! – succeed as a trader of anything! Get a job and go to work, work, work!”
Instead, I made the mistake of having a real-life wife who said “Whatever you do, I will support you and love you!” which, now that I am looking back, makes me scream at her, “That’s the most stupid thing you have ever said because you know what a whack-job, paranoid, worthless, lazy lunatic I am! So all my failures are your fault! Your fault! All your fault!”
However, buying gold, silver and oil in defense against the horrific inflations in prices that will destroy us, thanks to the horrid Federal Reserve creating too much money so that the despicable Obama administration can deficit-spend us into bankruptcy and utter destruction, is all my idea.
I got the idea from 4,500 years of historical precedents of one moronic country after another doing this same, stupid “spending oneself into bankruptcy” thing, all you can do is say, “Whee! This investing stuff is easy!”