I knew I should have waited. I told myself not to buy Agnico-Eagle Mines (NYSE: AEM), to wait a few days and then consider taking a position. Didn't listen to reason and threw paper at a crap company that might close over $44 today. All's okay, only down a few thousand . . . if I would have listened to myself and waited for the selling to subside, then I'd be near breakeven.
I acted like a foolish novice, lacking circumspection and patience. I hate miners. What a scam they are, and yeah, maybe it was a nostalgia play because in 2009 I minted money because I blew a big wad on AEM and Barrick Gold (NYSE: ABX) in late October of 2008 . . . yeah, whatever, miners are a scam. Hate 'em yet I can't resist buying them now and again.
Only thing that saved me was I loaded up on LDK Solar (NYSE: LDK) $4 March 2012 options when the company was trading below $3. I sold almost all of them last week for a tidy profit that balanced my retarded AEM play. Hate solar companies too and they're also a scam, though you can make some good money in them if you know what you're doing and one of your friends is the enigmatic The Renewable Man.