…you get what you asked for. The site got heavy traffic yesterday from the gold websites with one in particular, 321gold, linking directly. That is fine, but the post was not analysis so much as sermonizing, which I try to keep way on the back burner but somehow let see the light of day this week.
I risk making something of a caricature of myself when I go on about the promoters (that is so 2012, ha ha ha) and pitchmen. I think the average participant today is less inclined to follow the gurus and more inclined to play the sector as any other. That is how roundly gold has been bludgeoned and marginalized in the age of the forever rising stock market with a side of digital currency.
Predictably, I got flamed a bit by some incoming email. That is fine. I sometimes wonder why I don’t get more of it when I get off the analytical track and on the opinionated track. But one in particular struck me as important. He did not give me permission to reproduce his email so I’ll have to pluck certain key words and a phrase from it, with the phrase being altered slightly.
It was noted that the Rabbit Hole is like reading R2D1 (I have no idea what that is) and drinking WD40. The words “stupid” and “nonsense” showed up as well. The latter in particular is interesting because, Alice…
“If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn’t. And contrary wise, what is, it wouldn’t be. And what it wouldn’t be, it would. You see?”
― Lewis Carroll, Alice’s Adventures in Wonderland & Through the Looking-Glass
I used to have this quote on the website, but it got bumped due to limited real estate (and I am thinking it should make a return). Part of it is tattooed on my arm however, along with a lovely picture of Alice, the Queen and the Rabbit on the other.
So yeah, it’s nonsense. But the modern financial markets are not? They are to be taken at face value? I don’t think so. I live by “nonsense” in this oh so linear, sensible and lovely world.
The trick is to manage markets at face value for as long as need be, but to realize what they are; and with man, machine, quant, algo, day trader, casino patron, substance abuser, Ma & Pa and global central bankers all in the mix what they are is not linear and not normal on any short-term basis (with relatively normal being defined here as grandpa’s and Peter Lynch’s market).
So for a contrarian everything would be nonsense. But for a successful contrarian timing would be everything. A final point in the email noted that I have no clue about “what people like to read”.
So amid the negative input and insults he paid me the highest complement I can think of. If you want to read what you “like to read” then you will not frequent this website or subscribe to its market service, and you may even think of me as the a-hole that I can at times be. If you do frequent this website you may or may not think you like me but you may also be seeking not to feel good through bias reinforcement.
And that my friends, is the whole point.
Okay now, on with the show…
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