I am not sure about Gold being done for good, but my sense is the Agriculture stocks as a sector are cooked.
I saw Suze Orman on Fast Money while I was at the Gym two days ago (Twittered – Fast Money has run out of material. Dylan talking to suze orman. She says gold is only safe investment. Oy and she was only talking about GLD and Gold the metal . It was just one of those clear moments when you realize that gold has never been riskier. Looking at her tanned face talking bullishly about my favorite sector was just plain creepy.
I traded out of my Goldman up $15-$22 yesterday because equities are toxic. You make a year’s worth of gains on an investment in one day and you just take it. Especially when there is no trend. I love Goldman in the dumps, but up $30 from the lows was not the dumps anymore.
What’s in the dumps is the market. I am obviously trading a little more than usual, but do as I say, not as I do.
The best way to stay optimistic is to play with your kids and watch Nash, Amare and Stoudemire make minced meat of teams on their 6 game run.