Policy makers are adamant about creating artificial inflation in order to hedge the real deflation. We have seen their insanity first hand for over three years. Just because Greece is on the verge of collapse doesn’t mean the dollar will remain strong forever. Keep in mind, there is a pecking order to these things and, eventually, US debt will be called into question, just like Italy.
The reoccurring theme that is worth noting is strength in precious metals. The stocks get crushed and come back to hit new highs, over and over again. There is no reason to believe the gold and silver trade is dead, just because they are weak today.
Having said that, I added to my EXK position this morning and bought some ERY. I realize my ERY buy is sort of after the fact. But it is being used as a hedge because I am retarded long a variety of idiot stocks.
In summary, the theme going forward is to buy precious metals whenever my urinal shadows whistle and hedge that with long volatility trades. Additionally, I will be trading in and out of stocks based upon The PPT OS/OB signals, as always. And, should 321 crack spreads firm, I will buy refiners on dips, but not here.
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fig
If the theme is inflation plays, why ERY?
hedge
I will buy $EXK when it hits $9.50-9.60
so will I.
Don’t forget the junior gold burritos.
Grab some GDXJ if you don’t want to choose, but they have a lot more “catch up” to do than even the silver juniors.
I am eyeing some NUGT as we speak, if you want to talk about pinless hand grenade action.
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Did anybody watch this? Its hilarious…
http://www.optionmonster.com/drj_blog/article.php?page=drj_blog/a_trip_to_occupy_dc_with_thealyonashow_62767.html#.TrAIgrmm1BA.twitter
Agreed, eventually the continued pursuit of inflationary policy will fill in the craters and overcome the deflationary vortex.
This means significantly higher prices for the PM’s so keep strong hands my friends!
Probably a good place to end up eventually. Commodity pricing is the guide; crude oil trades into the $60’s and the Fed money flows freely.
Crude oil stays in the $90’s and you can forget it.
We really just need one monumental wash out before the next round of intervention. Enough to crush everyone betting on intervention right now.
Agreud (sic). In my post about the $RUT coming off it’s 3rd best month ever was going to metion but forgot to that any significant weakness in equities raises the distinct possibility of more QE from the Ben Bernank.
Bears need a last hour flush, or dragon pattern on SPY daily chart suggests a move back to new highs, by next week
Hard to see a surge before friday jobs number, though. Might chop upwards, however
Dragon patterns are not as convoluted as they sound. Its simply a Bullish W, with a bull flag stapled on the end
http://www.scribd.com/doc/8331452/Dragon-Pattern
Started short on DB @38.15 / started short on EWZ @60ish.
50% cash(to be deployed later)…I think we finish on lows today. Especially if there are rumors Greece might even fail tonight.
We broke very key technical levels here. Only thing holding me back going all-in…watching EUR/USD bounce of 1.36.
Do the OWS crowd count in the Unemployment stats?
No, you have to be looking for a job.
“Drum circle majorette” does not count.
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So none of them are getting benefits?
neither are half of the unemployed now since their bennies expired … double the rate for a more realistic % of unemployed.
In a normal economic and political environment Bobby.. WTF are you smoking??
Always love the honesty Fly. No one is killing this tape. Keep it real.
Forecast:
From Damon, last night:
FCX is going to fill the gap down here around $38.50-40.50, and then run up to $46+ by the end of the year (due to sleazy hedge fund managers and various industrial stock chasers).
Well, not only did it fill that first gap, but if filled the second one as well, down to $36 this morning.
I will be keeping an eye on this sucker, because if copper comes back, she will be the belle of the ball again…..
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I’ve nearly stopped speaking PM to anyone, because so many people have missed the opportunity, their denial, reptilian response: “It’s a bubble.”
Obstinacy, a broken and ugly record.
As there are some folks with the Midas Touch (Trump), here, it’s get to see traders with their game hat on.
Sold vxx near the open. Knew it would fall
Now back where it was. Fucking yo-yo
Buying metals?
Good luck with that…!
I am buying a shitload of $JASO here. I do not even know why but my intuition say BUY BUY BUY.
Well, we’ll find out soon I guess.
TVIX TO THE MOON AND MORE
Unbelievable 3 day move. Dynamite strapped to a rocket-powered AMC Gremlin hurtling towards the sun.
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Still stuck in the boonies no power, water, etc. SSDD. Chopping firewood has replaced the treadmill. I disagree on your Greece assessment. Greek saying fuckoff to the Euro banks would be the best thing for Greece (a la Iceland), and the worst thing for Freench and German banks.
Still long $EXK and hedged/slightly short with $TZA. Positioned for a trip to the bottom of the range, maybe beneath. We shall see.
Take care all. Trade safe-be hedged. It’s not too late I think.
Pardon any spelling errors.
PM’s are barely down compared to where they will be by the end of the week. AGQ will hit $45 in the coming days.
Dollar looks to be rolling right now…
Watch for headfakes.
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Wow…Simon Hobbs is really grilling this portfolio manager. F-ing…love…it…
I think we’re going to be down 400+ today.
I think you better cover.
Now.
http://youtu.be/NThCh-_mgag