Markets crash again 09/23/2022
Today id Friday the 23 of September, and the month of September is living up to its name of the time of year when markets crash. Today oil shares like CNQ (Canadian Natural Resources ) and SU (Suncor) were down 7 to 8%.
Gold shares down 4 to 5% for example NEW (Newmont) and GOLD (Barrick Gold). BTI (British American Tabaco) was down 4% I could go on but income share to the natural resources were down a lot today as well as all week.
The only saving grace was TLT and the ten year governments bonds finally are up at least so far as I write this, the markets haven't closed yet. It may be that long Government bonds are finally set to rally only time will tell. If they don't long bonds for the year are down 25% or so and the S/P 500 are both down about the same amount and there has been nowhere to hide without some losses, even gold is down about 6% for the year not to bad.
The place to be has been either shorting stock frauds or the indices in general or long the dollar against the Euro, Yen or GBP, Sterling has been hit hard despite the Government lowering tax and offering more subsidies to consumers.
What am I doing?
I am adding to my oil share positions but expecting more drawdowns, same with Copper and Nichol plays. I keep adding to TLT despite getting crushed 12% so far and same with 10 Year treasuries.
I am adding more Gold royalties plays like Sand, WPM, and some large cap gold miners, NEW, GOLD, and PAAS.
I like BTI, and EPD, and a few other income shares.
I think I am still early and have more cash to deploy is shares go down more which I would guess they will. I also will add a few shorts if the markets rally.
Good Luck
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