Asshole dip buyers are out and about. The raw commodity sector has been ravaged, coinciding with a spike in the dollar. Silver, natty, oil, cotton, alongside others, have been smashed. We saw this happen back in March and that led to an optimal buying opportunity. Will history repeat itself or is this the start of the ending?
Well, there is only one way to find out: buy the dip, else take your ball home and hide under the covers.
With my money, bravely, I am buying silver via PSLV and AG. For my personal, I’ve been buying PSLV every hour and will add to AG on 5% dips. Essentially, I have full faith in Bernanke, with regards to raping the dollar. Buying precious metals on any and all dips, over the past 5 years, has been a terrific trade. I’d be an idiot to not take a shot down here. For those of you who respect money, you can put stop losses.
I was never going to sell WNR. That fucker could’ve went to zero and I’d still be long. It’s one of those trades that is do or die. That’s me and I don’t expect you to act so irresponsible. After all, you fuckers have groceries to buy. “The Fly” is simply burning $100 bills to light his candles. Money, thanks to its overabundance, means nothing to me.
ALJ is posting numbers today. I expect more of the same. These fuckers can’t look a gift horse in its ugly face. Don’t worry: they will seek religion and get it right eventually. The crack spreads are not only sustaining high levels, but widening. Let crude come down; gasoline will remain high. Trust in that.
For those of you interested in new, under the radar, ideas: go check out TNAV.
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Stop sucking each other’s WNRs now.
I have lost several digits, but hope to be better than before with shiny new golden fingers and silver toes!
the jake is goldfinger.you’ll have to settle for silver toe
Fly,
Can you please tell me why you bought PSLV rather than SLV….isnt PSLV trading at a steep premium?
Thanks!
I refuse to disclose that information.
REQUEST DENIED
PSLV’s premium is GONE
Sprott website says intraday premium is still at 11%
Fly,
I respect your decision to keep your rationale private.
Keep up the good work!
SLV is an unbacked, fraudulent, paper position which will some day vapourize (be it sooner or later), while PSLV actually has the hard stuff where you can take physical delivery if you want with just a phone call. Plus the premium on PSLV is at a multi-month low. So you get extra upside when the premium rises even higher once silver gets all hot n bothered to the upside again. Avoid SLV and go for physical.
Fly… Have you joined the SLA? Silver Liberation Army?
ha ha.years ago , sla meant something else. funny
Somehow in some strange sort of way, I don’t think The Fly gives a flying phuck about you having respect for his decision to keep his rationale private.
Come on US Dollar…break 74 to the upside. Ignore the Clam, run little dollar, run…lol.
Rooting for the dollar, eh?
USA, USA….lol…
put a flag over it,and do it for old glorys’ sake. mercy mercy mercy
74.16…Go USA…
Nymph’s been bearish stocks for a long while, so I guess she has to be bullish the buck.
Ah Frog, what is interesting is that Jim Cramer didn’t see the relationship in the US Dollar in the market in 2009 when I obsessed on it in his Real Money blog day in and day out….he kept pointing out that the Market can move up with a strong dollar, which it has in past markets. FWIW, This is such a 2008 playbook, even with all the “experts” coming out to tell us how we are running out of commodities. IMHO a stronger dollar is what the USA needs, even though it will cause a lot of pain, I just finished reading a small history of Volcker on the Fed, 1970’s Fed Reserve really screwed up our country with Keynes Thesis/Application and lucky the USA had Volcker to clean the mess up…not sure if we will be so lucky…I wonder if Jerry Brown could become Fed head, lol…kidding…but I do love the fact he served Hot Dogs and Water at his swearing in cermony.
On top of everything, China last night was bitching about all the money they lost being long the dollar and talking about how they should unravel that position. So I guess everyone is giving up being long dollar, lol. We are at historical levels in long positions in risk currency…could be a wild ride.
Thanks for the TNAV idea, Fly.
gasoline will stay high,trust in that…….damn straight it will, else the fed gov doesnt meet its monthly nut for food stamps,and then some. anybody think that gas will see under 4 bucks ever again is nuts.
just remember, deer nuts r under a buck!
Remember, folks, I posted this morning that I bought a truck load of EUO. I am killing it today. Sometimes you just have to look at the macro picture to play the micro. Now I am going to dump it.
Dont catch a falling knife! Why not buy something with actual fundamentals behind it like LEN?
Today knocked at least a year off my life. I’m so fucking annoyed right now. Maybe I should just sell everything and go live in the sewers where I can have civilized conversations with rats.
Is there room for one more?
Sure. I need someone to bend metal for my sewage stagecoach I’ll travel around in it pulled by my rats and will stop to peek out the sewer drains to look at a world too complex for a simple ratistrocrat.
Punctuation doesn’t exist below street level fuck it
The Rat’s life is a simple one
Rat knows nothing – Rat just follows Mr Market, Price and Time – no fundaMENTALs for Rat, nosirree – Rat just climbs on the back of the big gorilla Clever People and bank the coin – over time, Rat will be Rich Rat
Any questions?
You are wise rat fink Too bad I no longer possess logic and reason to process that information My low-cal life meanders with the ebb and flow of sewage
Bought and sold VXX weekly calls for +100% in 20 minutes
Thrillseeker!
I just dumped EUO. It probably has more to run, but I’m not greedy. Those inverse 2Xs are not for holding on to. It was take the money and run time, because you can’t lose money by taking a sweet profit. When the Fly said to go short the other day, I hope some of you were paying attention I’m watching commodity currencies like the loonie and the aussie (FXC, FXA). If they get back down close to a buck again, I’m buying.
Useful way of looking at the overall market, gentz
http://www.finviz.com/map3d.ashx
No charge
very cool. thanks.
mah pleasure
{doffing cap}
2006 called – they want their heat map back.
Answer – this the start of the ending.
well, wti just went under a hundo. tell chakowski the news.
Time for some carrot speed-chopping. What does all this mean?
We’re all bozos on this bus.
It’s “coloured” and Mexico has been buying gold by the ton, not tonne. Question of the day is will WNR become a FTK?
I am all cash right now. Not interested in playing this tape. I will wait a week to see what plays out. If silver comes roaring back, I will get into AGQ. In the meantime, I believe eating a sandwitch is the right thing to do.
The market just vomited on itself
WNR seems to be the only thing I’m not loosing money on today.
Any thoughts on ATW? Atwood Oceanics.
Thoughts and opinions are appreciated.
yesterday i was thinkin silver buy at 38,,,today im thinkin 33,,,tomarrow?
Silver is a good buy at 48, no 46, no 38, no 32.
Like the south, Silver will rise again, but Silver will never be a stupid hick so its got one on the south.