iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,466 Blog Posts

40 Points a Day

There is nothing to see here, so go about your business. This is standard Fed operating procedure: give the people 40 Dow points per day, keep the recession at bay.

I am out the door right now, so this will be brief.

I sold out of 75% of my EXK position, most purchased in the mid $5’s. With the proceeds, as you know, I bought lots of NGD. On the surface it makes no sense since they are in the same sector. Ah, ha, that’s where you’d be wrong and I’d slap a pie in your face. I wanted to lower the beta on my precious metals positions, by just a tad. Since EXK is a silver stock, highly volatile in nature, swapping over to a fine Canadian gold miner made sense. It’s like taking profits, but not—if you know what I mean.

It wasn’t a 1:1 swap. Some of the proceeds are still in cash, waiting for NGD to dip a little.

See you homos at the bell.

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18 comments

  1. Butch

    No more PWER or BORN, “stocks of the year”?

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  2. Teahouse On The Tracks
    Teahouse On The Tracks

    If I were a betting man (haha) I’d say OGXPY has completed its’ sell off … same exposure more or less as PBR

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  3. weezy

    I feel like I am licking the chocolate covered bomb

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  4. jimmie

    jakegint for presadunt.

    been holding agq like it’s my last grilled cheese samich

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  5. jimmie

    LOL theres that gay avatard again

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  6. Fly

    I sold pwer ages ago. I still like born

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  7. Frank the Fireman
    Frank the Fireman

    Time to bring in some of those lazy ass overpaid fireman that some of you were hating on to put out that Texas fire.

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    • Belly of the Beast
      Belly of the Beast

      They’re too busy watching ASEI report, and thank you for your tax dollars !

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  8. Purplexed

    Anyone watching the action in MOTR today? Manipulation? This thing should be up large based on the volume, no?

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    • Fun with the bobblehead
      Fun with the bobblehead

      No manipulation……but loook at the 18 dollar price tag…….and falling………………..

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  9. go2pluto

    the short covering rally in TSLA has potential

    40 pts a day keeps the pitch forks away.

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  10. doofus

    You know what I find funny Senor Tropicana? You’re out of EXK, and JakeGint is gearing up for it on his thread…you fine (Southern?) gentlemen have been on opposite ends of this symbol for weeks now…I am not here to question…just sayin’….

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