Something is amiss when Saudi Arabia is sending in tanks to Bahrain. Let’s not forget, their markets plummeted by 7% yesterday. What’s also clear is this market getting donkey punched, including several of my positions, namely OPEN. However, the most clear thing in the world is my winship in precious metal names: EXK, NGD, AG.
Thus far, I am up slightly on the day; but tempted to sell a whole lot of shit here. The markets are looking a little dicey here. It’s also worth noting, The PPT registered a legitimate OVERBOUGHT reading yesterday. I say legitimate because it wasn’t your garden variety above 3.00 Hybrid. It closed at 3.15 and had the required 75% of large cap stocks ranked “buy” or higher. Nevertheless, it’s obvious to anyone with a set of eyes, gold and silver is still where it’s at.
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Fuck yeah, and lets not forget, FIRST!
I’m with you on NGD!
I see no reason to sell precious yet. I am sure the Senator would agree.
Still a good time to buy real silver and creatively store. Plat and Pall, also, in next two years as tech diminishes supply in equipment and appliances.
What’s the “tech diminishes supply” bull case for silver?
nano-tech silver application to cleaning things, plus an exansion in the old standby’s. But clearly the main story is silver as money.
I agree, just take a look in the French language where money and silver are synonymous. All the same, white bullion depletes, gold cannot. Hence: “Can’t eat your gold.” As Mars points out, in addition to precious Earth metals (which have not yet become a market we yet discuss), these will grow in value as they’re incorporated into electronics and mechanics (where metals literally deplete away). Hence, Econ 101 aka Supply v. Demand. Hope that helps Quint.
Is this a new fundamental driver for silver – I know it’s been used in the past, just not sure how much additional demand it would create.
I understand the “silver as money” view and thought that was the only key driver.
Thanks
Are you still BORN? (OK, are you still in born)
Buying opportunity begins tomorrow. Don’t put on your DEPENDS just yet.
Thanks much for the tip on EXK Mr. Fly. I banked / am banking a bundle of coin. This makes iBankCoin the best site on the web…
TRUE. EXK is huge and a great score…
Hey, fly,
thanks for banning me!
You got watch out for devil dogs.
http://bit.ly/e8EK1V
Ninja
So much for the “1st day of the month the market is always up 1%” phenomena that had been working for the last 6 months or so.
That being said, today’s decline is weak (so far). We are still above 1300 in S&P. If we close the day below 1300 next support is 1275 (5% correction)….if we break that…we’re probably heading to 1200 area (10% correction).
Turning tin cans into gold.
It’s about time I go positive on my EXK long! Next stop $9.30? Anyone agree?
Agree.