I’m gonna throw a freebie out to you dogs out here, not so much different than rich folks handing out turkeys to the homeless on Christmas. The PPT is flagging ZSL OVERBOUGHT here and you need to pay attention. Over the past 9 times PPT has flagged it OVERBOUGHT, it traded lower 77% of the time over 1 day and 100% of the time over 10. The 10 day loss, on average, is 15%.
I am not a precious metals type of guy, as I believe they are stupid. However, at a minimum, be very careful with shorting this sector. To play a bounce, I like EXK, AGQ, EGO or TCK.
Aside from all of that shit, I am biding my time here, sort of fucking around doing nothing. My job demands that I do nothing, so from time to time I adhere to the rules.
Look for a late day rally and a surge in the shares of BORN, just because.
UPDATE: I bought 50,000 EXK
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down 2.5% on the day
now long some AGQ to see if there is still some life in the shiny stuff
Thanks for the bone.
yup
The Fly is God.
Wait till Jake sees this post.
Tonight is the night for the Prez to come out swinging w/ re: to alternative energy.
Whatever. Be sure your bullshit meters are all properly calibrated and programmed for increased capacity.
Swinging what? His limp wrists?
He’s already out-Clintoning Clinton. Next he’ll be dumping Biden for Pat Buchanan so he can out-Palin Palin.
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Hehehehe (snickers the audience). Jake, care to opine on technicals of SLV or GLD? Everyone seems to see head and shoulders, but fundamentally, others see a little profit taking. Molto Gratzi.
6 posts in 2+ hrs. People don’t seem to care much about silver.
Good-good!
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Yooooou suh, shall heah from my Union Representative!
And no, I don’t mean no Yanquee Union, neithah!
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I took the advice and dumped ZSL at 12.74……nice little pick up from Friday to today.
NOTICE TO FLY- Urinal numbers one and two are flooded so please use numbers 3,4, or 5. And also bring your own deodorizer brick.
Fly,
I’m very excited about this possible “merger.”
http://new.music.yahoo.com/diddy-dirty-money/videos/view/coming-home–221531901
V.King 21 votes away from 100
UPDATE: I bought 50,000 EXK
Prepare for a testicular cancer screening.
Thorough.
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MIRROR MIRROR ON THE WALL, WHO IS THE ONE WITH THE CRYSTAL BALL?
His name is Steuben.
I thought it was a time machine?
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Merlin. POOF!
Stick with your own name you pencil-dicked prick.
OK when the Govt cuts spending. it cuts jobs….so creating jobs while cutting spending is just laying people off in one sector vs another.
Yes, but it is the most inefficient, lazy-ass sector.
Government doesn’t t create meaningful jobs. The Private sector does
unless the gov’t is providing the financing via public sector construction … look for more “infrastructure” talk from Obama tonight to help stimulate those “private” sector jobs … offsetting budget cuts from defense.
So they are taking away Govt Defense Contracts and giving out Construction Contracts…ok, my head is spinning. Also, we are giving up high paying govt jobs….who will support McDonalds and EAT if they do that?
Obama’s focus is on jobs … he can’t get congressional approval for more stimulus payments or jobs bills without offsetting cuts in the budget somewhere else … most logical place is the defense budget after all, who are we defending the world from … the Russians, the Chinese or some cave dwelling, bearded rebels in their pj’s?
Agree…but, it creates a “push” in the building Jobs…but market will probably love it I guess.
if he can get congress to cooperate … concrete and steel workers drink DD coffee and eat at Mickey D’s don’t they?
Why don’t you just break some windows so you can hire concrete and steel glazers to fix them?
You took zero econ in school, yes?
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Jake you’re really getting too obnoxious …. get over yourself
Nothing of the kind, my Grizzled Denseness. I was merely illustrating your very common economic fallacy, famously wrought by Classical French Economist Frederic Bastiat back in the early Nineteenth century.
Behold! The Broken Window Fallacy
Drink deeply.
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Irrelevent since the govt can shift non productive spending (foreign defense) to domestic spending and stimulate meaningful investment and jobs … it’s not paying Peter rather than Paul as you suggest. Now if you made that argument re personal tax cuts vs infrastructure spending I’d agree …
Your over use of the “econ 101” is getting old … even Yahooligan, but I’ll chalk that up to the state of your PMS for now.
You can make all the snarky comments you’d like, but this is where you err:
Irrelevent since the govt can shift non productive spending (foreign defense) to domestic spending and stimulate meaningful investment and jobs …
The government cannot do shit all that the private sector cannot do better. When it takes our money to “stimulate” in its own ham handed fashion, it, like the broken window fiends in the story, is taking productive capital out of the economy and using it inefficiently, contributing to further economic squalor.
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When will you accept and admit to economic reality … the private sector is not spending or investing domestically … until they do the govt is the spender of last resort in what could have been a long drawn out economic collapse that will not be out of danger until the private sector and the banks grow a sac. When that happens the govt must step aside and focus on deficit reduction but not until that happens. In the meanwhile, they must cut spending where both parties can agree and shift spending from non domestic to domestic projects until the revenue base starts to expand.
Seriously, you are living in a dream world. The private sector is not investing domestically?
Do you think the private sector is only made of multinationals who “invest” in China, etc? That’d be like saying every company in Germany is like BMW, because they invest in plants here.
Do you know how a world economy works? Do you realize that as many foreign companies invest here, and employ here as US large caps do overseas?
You must be an academic or a lawyer, seriously. It’s like you get all your information on the economy from a left wing journalist’s blogs.
Fwiw, Business people laugh at that stuff.
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“Do you know how a world economy works? Do you realize that as many foreign companies invest here, and employ here as US large caps do overseas?
You must be an academic or a lawyer, seriously. It’s like you get all your information on the economy from a left wing journalist’s blogs.”
Go fuck yourself in your overinflated head …. you’ve been kicked there as much as your balls … you forget about our prior discussions of my background and seem to think yours is the only academic training that counts for anything … biased and arrogant … find some humility before someone else brings you back to Earth.
Wow. I propose a cease fire. As you are both “expert” level, we, in the pistachio gallery, prefer three and four letter words we can trade. Thank you. P.s. also accepting ideas with currencies too. P.s.”II”: I don’t believe any of us like the blow hards in DC or Ave. De. US AKA Wallstreet. But fine wines with a buffet of cheeses and items of your desire rise well as we negotiate unrounded corners.
When do we get to hear about how OPEN is ripping the bears’ faces off?
When isn’t silver oversold? Your voodoo doesn’t work in the land of Blythe Masters and the mystical silver short. Up is down. I would love nothing more than for The Fly to storm the zsilver palace and command it where to go but first you must defeat the spider’s spell.
HORATIO CLAWHAMMER
The algorithm is very specific. It’s oversold right now.
I must say, today’s tape = fucked up wierd shit. Where’s the fucking Clam!
The Clam doesn’t talk on the same day as Obama. Coincidence? I think not.
This time is different..
Famous last words.
My favorites are:
I’m from the government, I’m here to help.
The check is in the mail.
Don’t worry, I’ll pull out…
Here is one: I will have steak and lobster before the execution.
LOL!
In all seriousness though. I just read Fly’s last post. Sounds a bit too overconfident for me to believe. This market is crazy overbought. Look at Jake’s last post to see how overbought we are.
I agree with the premise that the Fed is F-ed. They simply cannot and will not stop printing more and more money. They will eventually print us into hyperinflation. This has been my stance for years now. The question however is, when does the reflation become hyperinflation? And do stocks simply trade upwards non-stop?
If you look at Weimar Germany, you see that the stock market went up and up and up as hyperinflation took hold. The difference this time is that hyperinflation will happen much quicker due to computerization of everything. The largest bubble in the history of humanity is inflating as we speak, and there is no way to stop it.
All that being said, I am net short going into the State of the Union speech because I believe we are overdue for a correction. We will get a nice -200 day sometime this week. It may happen after one last melt-up tomorrow. And I will double my short if that happens.
Two more- It was an accident and Do you love me (for the girl except either sex will work in SF)?
I swear she looked 18.
I like WSM off of ETH earnings today. I also like MSCC here.
MOTR is happy today. I think Uncle Carl was fucking with the Fly.
There’s the fucking CLAM BABY!!!!!!!!!! UNCHED on the Day Dow and Sp’s
The PPT is broken – remember? ZSL will go up hard tomorrow…
banned
I’m placing a call to my good buddies, the Hunt brothers, to make sure silver goes up tomorrow.
LOL. I am loving Mortimer Duke, but what about his bro?
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Smart play not playing this market at the moment..