I am definitely not a gold bug.
I definitely do hate bugs, though and I do like gold.
With the latter, only in moderation, but I’m liking gold more and more.
For each of my son’s college graduations they received some one ounce gold coins, representing the first time I had ever purchased gold in any form, other than jewelry.
Those turned out to have been good investments and some of those coins have already been cashed in and turned into other good investments.
But what I have really come to enjoy have been the gold miners.
In hindsight, I wish I had owned more of them and I wish I had owned them for longer than I have.
That is despite the fact that my shares in Newmont Mining are already about 3 1/2 years old and the various lots I own in the Gold Miner’s ETF are all more than 2 years old.
All of those shares had short calls expiring in 2 weeks, but like my son who signed up for another 6 years in the Army, I signed up for another month on the short side for calls.
The difference is that I’m not going to be a Blackhawk helicopter pilot on the other end, but at least I’ll be able to squeeze another 2.5% out of those positions for another month of ups and downs.
Ultimately, even with lots of time on my hands to spy out potential new positions, nothing beats making your existing holdings make more money as they sit there.
I always suspected that at some point I would “graduate” into a LEAPS kind of strategy, so maybe the evolution is already underway.
The difference is that instead of tying things down for a year or more at a time, it has just been a month or more at a time and then over and over again.
Those 2% increments do add up, just like pennies can add up.
What I especially like, in the case of gold, is that other than 35 years ago, gold doesn’t necessarily go straight up or straight down.
It zigs and it zags, just like stocks do.
Those zigs and zags are all income opportunities.
As it turns out, I could care less about gold.
I just like the income opportunities and it was worth taking advantage of the strength over the past couple of days to jump the gun and just do the rollovers today.
Hopefully, we get the chance to do it again next month and then the month after.
After all, most people do say that you should have some gold in your portfolio.
So if you have to do that to be in compliance with expectations, why not squeeze some extra juice out of that rock?
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