1st Jan 2011! Another year gone by. The bear market rally continues aided by worldwide printing of money aka QE. Financially this year has been the best year for me, ever. I'm quite surprised, my business really fell badly towards the end but my trading activities have done very well. I've positioned myself very well to take advantage of the economic chaos that's about to unfold this year, so with any luck by the middle of this year I would be a thousand thousandaire.
Positives
- I still sold software
- I didn't lose my shorts in trading
- My savings rate is still unbeatable
- US didn't go into collapse
- Financials wise, I'm still way above the crowd
- Best year ever financially. And I didn't have a job for 2 months since I resigned in September.
- Moved to Norway
Negatives
- Sales getting down, some bastard from China ripped off my software including the user interface. I am really unhappy about that. :(
- Economy fundamentals are worse than ever
- USD will collapse this year, Euro, Japanese Yen?
- Moved to Norway
- When will I start writing iphone apps? Grrr...
I put down moving to Norway as a positive and negative because I get to learn new things but my social life is going downhill!
What's in store for 2011...
More applications
Must start writing applications for the iphone, procrastination is killing me.
I also need to start writing a specialised targeted blog... must work on my inbound marketing.
Investing
What do I expect this year? Armageddon, honestly this year will be the year of financial turmoil but if you're positioned then you will do extremely well. I'm betting the USD will fail this year. Other paper currencies like the Euro and Japanese yen will probably fail as well. When that happens there will be a mad mad MAD scramble to gold and all physical assets. People will be astounded by how high Gold will go to. My target is at least 10K Gold and 600+ Silver. There will be corrections along the way but they won't last. This is THE YEAR for Gold and Silver and all hard assets. Stocks? Forget about it. I think people will start to be awake once Gold hits 2K and then the mania will start.
Bring on 2011!
Sunday, January 02, 2011
Gold update
Gold.ax has had a false breakout. It's now close to support. Short term resistance at 141, support at 131.
I still recommend gold as a strong buy. This consolidation only means a larger breakout when gold does indeed take out the 141 level.
Looking at a 10 year graph of gold, gold starts with about a 2 year consolidation phase before breaking out to new highs, from 2006 to 2007 this was what happened, then a breakout in 2008, consolidation again then another breakout and now we're in another 2 year consolidation phase. I still expect Gold to expect 149 level sometime this New Year, my initial target is at least 1870.
Gold, strong buy!!
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