People sold short NFLX at $30, as it hit new highs. The stock defied gravity and proceeded to pass $40, $50, $60, $70, all the way to $215. People shorted it, and got “retard boxed,” all the way up. For some reason, they thought it couldn’t go higher. They used astrology, charts and anecdotal evidence to support their flawed reasoning. However, all they should have looked at is price action.
Inside of The PPT, I set up a Raw Commodity Index, in order to track commodities (duh). Despite the pullback in gold/silver (oh, the carnage), it’s at all time highs. Whether it be oil, cotton or sugar, commodities are on the rise. Now, if I said it was going to top everyday, eventually, I’d be right. But the fact remains, there is a global movement here, pushing commodity prices higher. Every single BBQing of my accounts was due to trying to time tops. In order to pull it off, you need to be insane and very, very lucky.
Oil is pressing higher here. If there was ever an excuse to kill shorts, stuck inside oil stocks, it is now. Because of this relationship between destiny and the bears, I’ve positioned heavily in several small commodity names. It’s very possible that the trend will reverse and I might get stopped out of my positions. However, it won’t happen because I was defying the laws of The Clam.
Ask yourself a question: am I defying the laws of the Bearded Clam (Ben Bernanke)?
Top picks: EXK, GTE, KEG
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F anyone?
no
You still holding OXY? Hopefully it does the $100 roll soon!
sniper6 buys ANR at $53.25.
scalp target, sell intraday $54.25 otherwise I’ll hold it.
Only a master can boldy defy the bearded clam, with all it’s promise or glory, but like every other bearded clam I have ever encountered, this one will let you down at the most inopportune hour of clamcertainty.
Frederick?
Welcome!
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I hear what you are saying ‘ol master, but I must accomodate the possibility that the bearded one gets a shave every now-n-then.
close negative today
All hail the Bearded Clam. There will be pullbacks from time to time. But it is difficult, even for the most skilled folks, to time them, as Fly says. Why try to time the pullbacks in a Clam Market when you could go with the trend instead?
After all, it’s a Clam Market, you know.
Good one, Centurion!
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Let’s not forget, the market was supposed to be down 1%+ today.
Patience, my son.
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It may be time to buy gold gain, Midas.
Jake has his head in the Arabian sands and cannot here you.
Hubris. Been there, done that.
Whenst searching so diligently for motes, forgot not thy planks, good sir.
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I find SIVR follows the spot silver price better than SLV.. but still cool index.
My apologies for bring up an old subject, but….this Egyptian shit is far from over. The Egyptian military is the key to how this is going to be resolved. If they cave in and do not restore order, all hell is going to break loose, not just in Egypt, but in other countries like Libya, Algeria, Syria and Jordan. This has the potential to destabilize the whole region. It would be smart for commoners to invest in oil, especially U.S. oil producers, Canadian producers, and non-ME oil producers.
Fuck the Muslim Brotherhood, and fuck all islamic jihadists. May the the Scimitar of Death slice through their necks like a comet through a NYC snowball.
In addition, Europe could be fucked up their crack with a paddle, but alas, I am mixing my metaphors.
The Egyptian Military LOVES our equipment. They’ll want to keep buying it, no matter what.
They love our money even more.
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too bad we GIVE it to them
Thinking Nat Gas names – ones that do not rely so much on the price of natty but companies with solid business models today and those who would be positioned to explode with industry consolidation and/or increased talk about the use of this forsaken fuel. I’m looking for 2 or 3 for the 401k.
& solar names, not so much but maybe a thought
also – PBR – don’t love it but it could perk up now
Natty: Donnybrook (DEI) is the symbol.
BTW – I think Mubarak is playing his ability to wait out this “organized” block-party-chaos. As soon as food, water, and medicine run out, the real chaos will begin.
‘Caving in’ and ‘restoring order’, in this case are synonymous with shooting at their families who they are sympathetic with, politically speaking. We should have never bet our entire economy on fake stability gained through puppet ‘democracies’ who do not have the people’s better interests in mind. That makes about as much long term sense as betting on the bearded clam for eternity. If we can’t make money without starving people, maybe we shouldn’t make money.
Aegypt is not even a “democracy” with the quote marks. Full on, 100% military dictatorship.
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It’s not so much commodities and stocks going up as it is $ going down. You print so many they have less value individually. Maybe not showing up in inflation data yet, but the big money knows it’s time to get into solid assets, good profit making corps and commodities of value. Stay in cash and your ass will be falling off.
Exactly Ya.
My insane profits on the oil & gas tapes today & Friday do not come without a tinge of guilt and a lingering tought that many men shed blood at the hands of our “cheap oil dictator friend”.
That said, the ride is not over.
If it’s worth dying for, it ‘s worth buying more.