Is SLR a complete dud?, page-87

I think all precious metals holders will have enjoyed the rush, from the recent uplift in the sector, both physical and equity based.

Today I completed the sale of my SLR trading buys, all below $1.

Although not pencilled in at the time (early October 2023), I don't mind making a quick circa 20% return and taking some money off the table, for the next trade. I have retained more than 1 lifetime of capital in the Au sector, and am happy with this play and remain very bullish.

NEM and PRU the same.

Market excitement is a tricky thing. It has a way of sucking in people and capital to buy at high prices in the hope of capturing the next wave. When it comes, that wave is exhilierating, but usually short lived.

I profess no foresight better than anyone else, but I prefer to be one of the investors that has enough cash to pick either a time or a price to buy, when the "rush" goes the other way.

I never thought I would rebuy one of my old 5 bag healthcare plays from 5 years back. Recently, the wheels just fell off that bus into a crater that only the brave or foolish would follow. CR complete, the stock has recovered by 25% in a heart beat. I now have to decide, whether I play a long game and accumulate for the next 12 months, or take the profit and run. Am still undecided, but the cash from Au plays provides both optionality and time. Though I am not a gaming person at all, I know that if I was I would choose colours rather than numbers on the roulette table. Lower odds, but greater certainty of staying in the game.

Those with a bit of market experience will know commodities are cyclical and powerful when they run. On the other hand, recoveries are long and slow. Both can deliver multi bag returns.

Let's all enjoy the enthusiasm of a market that believes the interest rate hike cycle is over, and that a party will follow. A US election year usually brings good tidings as well. Thus, this could last another quarter or 2. However, in the end, US rates going from 0% - 5% matters, student loan repayments matter, shrinking savings savings deplete spending. In Australia, the same things matter, but employment is the most important. That one is too hard for me to call. 500,000 new (mostly homeless) Aussies can move the dial in both directions. One thing is for sure, we can forget about our climate targets, more lower skilled people will consume much more dirty energy. They are more likely to buy KFC than EVs and solar panels.

In my view, just because a ballon has not yet burst, it does not indicate it is not a balloon or that it cannot burst. COVID threw a lot of balls into the air and they have scattered data series in all directions.

I remain heavily invested in the markets, but with a bias to exit so if my negative call is wrong. I can remain happy. If my call is correct, although my portfolio value wcould fall (a lot), I will be happy knowing that I will have the choice to buy the same stocks I have sold cheaply or play with some stocks I am not acquainted with yet, will fall to Mr Market.

We live in interesting times.

GLTASH