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
23,471 Blog Posts

Silver Rocketship or North Korean Dud?

Will the silver stocks, led by the good Senator from Kentucky–JAKEGINT–shoot for the stars or fall under the weight of their own hubris, yet again? How many times do I have to witness these faux breakouts in the silver sector before vomiting up my shares of EXK for good (lots of loaded shit in this paragraph)?

As some of you fine cardigan clothed gentlemen know, The PPT nailed the oversold on EXK 5 times in as many months! Right now the stock is on a run from $7.69, where it was flagged by our godly algos last. My cost basis is in the low $8’s and I’m inclined to sell into strength, only because the silver miners have proven over and over again that they are to be traded, not invested in.

Based upon the unbreakable laws of mathematics, here is the silver sector, ranked by technical strength.

At the present, EXK represents a staggering 18% of my assets. I’m heavily long based upon two things.

1. Central bank money printing caused by bailouts.
2. Repetition in oversold readings by my algorithms.

I respect things that have made me money in the past. Without a solid foundation to fall back on, you are nothing. My past defines my future– and by extension– my past will define yours.

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32 comments

  1. Rhino

    I’m sick of precious metals and fucking miners. However, the PPT did nail EXK for me too. Only trade I’d want out of this.

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    • The Fly

      They have been dead money for a year. But sometimes they go into hibernation and come out roaring–hard runs to the upside.

      Ask Jake.

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      • JakeGint

        Give it a week of run at least.

        This is probably not the big run, but make hay while the sun shines, etc., etc.

        September will likely be a refractory period.

        ______________

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  2. slimtrades

    Think it’s money this time. Whenever I think it’s too obvious I’ve over-thought it 😉

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  3. TeahouseOnTheTracks

    Playing EXK (#6) & FSM (#4) from your list …

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  4. theedge111

    It seems like lately everything is daytraded other than Apple.

    The HFT’s are destroying market confidence. I try to ride through the volatility in shit that I really believe in but it’s starting to not be fun at all anymore.

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  5. The Equalizer

    It hasn’t been fun for a year or so, but that doesn’t stop me from playing. The game may be rigged, but it’s still the only one in town.

    I like the new-old layout. Tabbed bloggers up front where they belong, and where the can’t get drowned out. Cronkite’s feed on the right. Peanut Ga^H^H^H^H^H^H^H^H^HiBC Blogger Network contributors still visible in the lower right.

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  6. fake amish

    Blinded by the new old school look. Fucking bright it is. In Ibankcoin one must trust and the stewardship of the Senor Fly. Sunglasses be damned.

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  7. tradingnymph

    Po Pimp…I finally got my password fo Blogger Network fixed up. Now I got my Oil Piece up I wanted to do last week.

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  8. SUBCOMANDANTE CHINCHINILLA!!!
    SUBCOMANDANTE CHINCHINILLA!!!

    Unbreakable, yes – but cardigans before Labour [sic] Day???

    Good Lord, Sir!!

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  9. TraderCaddy

    Very nice home page.
    Clean lines and visually appealing, although at 6:30 AM I need to wear my sunglasses to read it.
    Keep it.

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    • TraderCaddy

      Oops.
      I forgot to add that the page loads quicker and the old school orange banner at the top is like bringing back Coke Classic.- a winner.

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  10. Po Pimp

    The market update bar gets plastered across the middle of my screen for some reason and it won’t go away.

    I like the layout as far as where the posts are located (color scheme… no comment).

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  11. razorsedge

    i like the new look

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  12. razorsedge

    i noticed you have taken down the dollar amounts next to our names. more importanty are you sending out checks?

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  13. wvufan87

    Not that my piker opinion matters, but the white + orange theme on the frontpage is harder on my eyes. I find myself straining to read.

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    • ALLPROz

      The ticker bar is only harder to read when prices are negative (red) so let’s just show green and bank some long coin.

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  14. mike

    will hold and hope with my EXK..would love to see it punch 9 in the ballzzzz (no homo)

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  15. flyaway18

    Nice layout. I’m wondering if you can make the lines separating stories, bloggers etc. just a tad darker? They are so faint it is difficult for the eye to focus on one particular area. Most layout artists know that readers’ eyes move left to right – you’ve got that part right, but the page needs just a bit more definition which may be achieved with darker lines.

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  16. ALLPROz

    New look much improved and more appealing to the masses imo. My blood runs burnt orange though…Hook em Horns!

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  17. T-Bird

    Holy shit, you did go all geocities on us! I always liked the CSS as you put it once, “black like your heart”.

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  18. republicat

    IT LOOKS GREAT !!!!!!!!!!!!!!

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  19. razorsedge

    throwing dirty underware at gold bears.

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  20. JakeGint

    Pirate Days Mateys! Got gold/silver, etc?

    ________

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