Well, what can one say about Frankel in the 2,000 Guineas on Saturday eh? Fantastic stuff! It normally bugs me when people call a horse a ‘cert’ in racing but I’ve been banging on about this one for quite some time and it was one of those occasions where he was still massive value, even though he was odds-on. I had a nice few ton on him (done it the old way with cash in the bookies) which paid for my hotel for the weekend. I had a brilliant time at the wedding, and to top it off, Dublin’s hurlers win the league – what more could a man ask for!
Didn’t get much sports trading done obviously but elsewhere, I went short on gold twice last week – once when it hit $1534 and again when it hit $1547. I’m actually still keen on gold long term but I just thought it was extending a little too wildly and predicted that people would take some profit. Then, all this craic with Osama Bin Laden kicks off and I was unsure how the markets would react (if they were even going to react to that event at all). Today, gold dropped a fair few points back down (I don’t think it was related though) and I got a little nervous and sold out. I could have got out for a profit at one stage but waited a bit too long and the price started recovering. Overall, I lost about a pony (€25) on the trade but I was glad to get out without too much damage as it’s all a little uncertain at the moment, and to be honest, I haven’t been keeping on top of the news wires etc with Easter holidays and bank holidays and what not.
I’ve been waiting to get back in on gold for some time and being honest with myself, I’ve missed some cracking opportunities trying to wait for the ‘right’ moment. In some ways, there never really is a ‘right’ price. There’s just prices!
But that said, my records show that gold has been (by far) my best commodity for trading so it’s something I want to keep on top of and it’s something I enjoy holding.
Not sure what price I’d like to get in at again, I’m going to wait for a boring non-news week sometime and sit down and give it more thought and study and see where I’m going with it.
On the racing front, we’ve Punchestown this week and it’s normally something I spend a few days at. This year however, I’m a bit tied up with work and don’t want to take any more time off. I’ve pretty much taken all of August off so I can go to Canada with the family then spend a week in Gran Canaria with some mates too – so I’ll have to clock in some hours in the 9-5 as it will be an expensive couple of weeks! Hopefully, I’ll get to watch some of Punchestown on the box – it feels weird not being there and there’s some cracking races on the cards. I don't really have any real strong opinions on it as I haven't really spend much time studying the cards - I'll just watch as much of it as I can and make some notes at the end - don't think I'll do much betting though.
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