I live in a funny world where I can just write some things on my phone or computer and people all over the world begin commenting on it. These conversations can last for months, even years. Those who know me understand that I try to do my very best everyday to look at the market as nothing but letters and math. It shouldn’t matter whether we’re long Apple or short soybean futures.
Some assets strike a cord with people and make them feel differently. There is usually a popular figure involved or hot product and sometimes even conspiracy theories. It’s fascinating to watch. Gold is definitely one of those. The crazies come out whenever you mention gold, bull or bear doesn’t matter. Natural Gas used to be like that 12-15 years ago, but not since it lost 90% of its value over the past decade. This one is the bitcoin of energy.
Over the years, things like Apple and Tesla have had some cult followings in their stocks too. But most recently it’s been $TSLA and the fact that they get to gossip about elon musk to get them away from writing about trump every day. Everyone wins. I saw an opportunity about two and a half months ago to purchase shares of $TSLA after the completion of, what I felt, was a failed breakdown, which in my experience often leads to very fast rallies in the opposite direction. [Read more…]