"My elderly father just called. Old-school guy who never wants to "bother" me, so he only calls if something's of real concern.
Turns out he's heard all about buying panics in stores and selling panics in markets. He bragged that he'd already stocked up on enough toilet paper and frozen/canned good to last him weeks.
Then he said we should probably sell his stocks. (I manage his accounts). He'd forgotten that in January I insisted he be net short stocks and long gold & silver going forward "at least until crashing stock markets page front-page news" ... which arguably is now. I've covered some shorts in recent days.
The last time he asked about making a specific change in his investments? He wanted to buy the bitcon THE EXACT DAY IT TOPPED. Of course not only did we not buy the bitcon, thanks to his call I shorted the **** out of it.
Gonna stay very net short stocks going forward of course, nothing to do with elections or viruses just common sense and based on valuations same as before the virus scare and Bernie/Biden developments.
Dad's a great barometer of what the lemming herd is doing though, so that along with idiots telling me they started shorting stocks today and buying "gold" (paper) using levered instruments ... well it's ALWAYS been best to take the opposite sides and I very much doubt it's different this time. "
https://www.zerohedge.com/political/things-get-interesting-will-trump-be-forced-postpone-election?commentId=b9827ec2-dca9-4bb9-8d06-7d339104d494
"My elderly father just called. Old-school guy who never wants to "bother" me, so he only calls if something's of real concern.
Turns out he's heard all about buying panics in stores and selling panics in markets. He bragged that he'd already stocked up on enough toilet paper and frozen/canned good to last him weeks.
Then he said we should probably sell his stocks. (I manage his accounts). He'd forgotten that in January I insisted he be net short stocks and long gold & silver going forward "at least until crashing stock markets page front-page news" ... which arguably is now. I've covered some shorts in recent days.
The last time he asked about making a specific change in his investments? He wanted to buy the bitcon THE EXACT DAY IT TOPPED. Of course not only did we not buy the bitcon, thanks to his call I shorted the **** out of it.
Gonna stay very net short stocks going forward of course, nothing to do with elections or viruses just common sense and based on valuations same as before the virus scare and Bernie/Biden developments.
Dad's a great barometer of what the lemming herd is doing though, so that along with idiots telling me they started shorting stocks today and buying "gold" (paper) using levered instruments ... well it's ALWAYS been best to take the opposite sides and I very much doubt it's different this time. "
https://www.zerohedge.com/political/things-get-interesting-will-trump-be-forced-postpone-election?commentId=b9827ec2-dca9-4bb9-8d06-7d339104d494
(post is archived)