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Gold Wants To Be A Safe Haven!

  • Written by Syndicated Publisher No Comments Comments
    August 14, 2014

    Gold has been confined in a symmetrical triangle pattern for quite some time. The direction of the breakout from those patterns usually indicates the next sustained direction.

    After reaching the upper limit of the formation it declined and broke back beneath its short-term 30-day m.a. and looked to be headed down to the lower limit of the formation again. That was in spite of reports indicating inflation may be on the rise, and the dramatic increase in global unrest in Syria, the Russia/Ukraine situation, and the Israel/Palestine military action.

    But, when the stock market declined from its recent peak, gold rallied before reaching an oversold condition or the bottom of the triangle formation, seeming to be more influenced by the stock market than the other situations that usually influence gold.

    It seems to want to act as a safe haven in the event of a stock market correction.

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    Will it be as positive if stock markets experience a likely rally attempt off their oversold conditions beneath 50-day moving averages?

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    I must be missing something here.

    A financial advisor has an interesting article on Business Insiders, outlining his work-day schedule hour-by-hour in considerable detail.

    Read it here: http://www.businessinsider.com/financial-planner-workday-2014-8 

    I must be missing something.

    He begins by saying “99% of my work is done at home. I’d have to say my favorite work spot is my deck during the summer days. Here’s what a typical day looks like.”

    (Lightly edited):

    7:15 am: Peruse e-mails checking for anything I think is urgent. There are times when I get emails from reporters wanting some input for articles . . . I take this time to respond because many of them are on tight deadlines.

    7:30 a.m.: I read articles on my ‘Feedly’. . . If any intrigue me I share them through different social media platforms.

    8:15 a.m.: I try to meet with two or three ‘influencers’ a month for coffee, anyone I can learn from or that I  might be able to help out. Two weeks ago I met with a couple of fee-only advisors. It’s always interesting to see how other advisers have built their businesses.

    If no coffee meet I pull out my two priorities for the day, one client focused, the other focused on my business. The client tasks consist of projects, or reviewing portfolios, my clients’ progress, and their goals. The business tasks consist of analyzing my business and thinking about how to improve it, whether its through marketing or creating more efficiency.

    11:30am: Check emails again . . . .

    12 noon: Lunch/ decompress. By this time I need a break.

    1 PM: Monday through Thursday this is when I schedule client meetings, or reach out to clients I may not have contacted recently. . . . If no meetings are scheduled I fill this time with things to help me develop professionally. I sign up for continuing education courses, attend Toastmaster meetings, or tap into the XY Planning Network site to see how other advisers run their practices.

    3PM to 4PM(ish): I might do some administrative work, but I usually call it a day. Checklists keep me organized and I like to make it a habit to write down my important tasks for the following day.” 

    I must be missing something. No mention of actual money-management, of markets, of compiling data, analyzing stocks, funds, sectors, markets and each client’s holdings, searches for potentially better holdings, etc.? No mention of experienced staff and meeting with them for their input?

    Things must have changed a lot. When I ran a small but very successful money-management firm in the 1990s, it took five of us, three with the financial education and experience required for SEC registration, working 50+ hours a week, conferring together constantly in an office environment. 75% of our time was spent on analyzing clients’ current holdings to make sure nothing had changed that warranted re-consideration or re-balancing, searches for potential better holdings, fundamental and technical market and economic analysis, for risk-management purposes, and so on.

    To read my weekend newspaper column click here:   European Markets Look Downright Scary

    Images: Flickr (licence attribution)

    About The Author – Sy Harding, Street Smart Report

    Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

    It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.

    It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.

    In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.

    There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more. 

     

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