Being 70% long into today, I am enjoying the respite. After watching Secretary Lew’s testimony, I am more convinced than ever about the stupidity infecting the brains of our congress, especially the GOP.
WHAT HAPPENED TO THESE PEOPLE? I thought they were the party of big business? Now they are the party of destruction, gold bugs in the craw of the American public. I can’t take it anymore.
Look, I’d love to tell you the crisis is over. His testimony was very direct and eloquent. However, these Tea Party guys, spearheaded by hard core ideologues, ARE NOT LISTENING.
In short, enjoy the respite and take money off the table. Do not trust your local congressman to do the right thing.
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This is why I bought a lot of cheap stocks yesterday. See you all at new highs soon. Good day to you, please pass the snorting straw.
Simmer down now. The crisis is far from over.
Party has just begun!!!
you’re retarded
This crisis was put on hold. Next one will be up shortly. Maybe we have a war in between.
The risks of default are so obvious, yet nothing has happened for long enough period of time that people aren’t worried. The conclusion the masses have to make is “it’s priced in”… which means it’s probably not. Then again, maybe I am giving the masses too much credit… Either way, substantial headline risk rather than just a “wall of worry”.
In other words you could be right, but at what cost? How prepared are you to handle the risk that if you are wrong, you could be very wrong?
I’m prepared. But I’m also not dumb enough to fall for every single panic that occurs every few months.
It’s also the reason why guys like Buffett are where they are… no need to panic, just make good decisions while everyone else is panicking and thowing meatloaf at each other.
And just maybe one day the name “Bullish” will be synonymous with “Buffett”.
Well, I guess I was a “wuss” for taking hedges off and staying small… only using half position sizes and fewer longs then normal on the “dip”. nice call so far. grande cajones.
what happened ? they’re loosing appeal .. if they do not move or do nothing , they ‘re loosing appeal too .. therefore..
nontheless mr Obama is playing this crisis very dirty ( it’s not plausible to prolongue a usa govn shutdown in 2013 for this much foremost for a usa president deciding on it)
In the northeast corridor, people depend on the government for all they need.
Out west, the government depends on the people for all they need.
Business drives the economy out here, not politicians and we could care less about Obama-Reid-Boner. But go ahead, gnash your teeth.
thats the craziest thing I think Ive ever read on this site….”the northeast corridor relies on the government for all they need” –
i’m trying not to be a doomer bear, but today looks like wave 2 action. wave 3 down will depress some people.
that’s unlikely today gap remains open too long.
I’ve recovered 75% of my last days losses with today opening , for my fault for being over confident on high beta names before the pull . Due diligence tell me to sell something here /today .
Wait, I thought you faded the market yesterday?
what? yesterday spread in my account went from 900$ish to 300$ish ..
i have gone -2500$ in last 2 days ..
-900$ to -300$ (red , closed at -344$)
they before yesterday i took a major beating ..
as of today i recouped 75% of the whole ( maybe more into the close )
I know nobody is watching and I ain’t no technician (nor do I want to be) but it looks like to me that the gold mining stocks have held the July-Au. low.
I’m watching . it needs gld to break 128 ( or relative gold price ) and confirm , possibly .
Not sure, but perhaps the stocks will lead the metal unlike the last few years and do what they used to do for years and years.
They may rally even with gold dead (as long as there isn’t a plunge).
Seasonality is favorable.
I nibbled (emphasis on nibble) @ HL,PAAS.
”
Seasonality is favorable.” absolutely . have my trigger on for baa exk anv(gap fill premium ) and nugt . ego and iag look VERY nice around here . risk/rew very favourable . might try to snatch and bet something before end of week .
premium is hot for many names here , 50% or north , but if gld reverse is on .. (imo..)
just prepared some conditional order for $ego . hope they get switched .
risk/rew = 200$/1000+$ ( or much more depending on next weeks gld price action )
sounds good .
The juniors have been pummeled recently without mercy primarily due to overseas miners like LionGold.
Reminds me of the Bre-X fraud in ’98.
They plunged and then soared.
Watch GDXJ etf.
yep , but i think whatever fund / hft , seconding a gold reverse , will make a fortune out of many other shortsellers piling to the exit . better be in . Therefore I’m waiting gld action . Anxiously . 😉
I am game for Bullish’s scenario – straight up from here would be une
Unexpected but welcome is how I meant to finish my thought. Damn phone…
Why even have a debt limit? It just creates a fight every time it comes up. According to the Dems, you have to raise it or you are not paying your bills. Of course, we haven’t had a budget passed in 6 years. We are just running our country on the CR (continuing resolution). Extend the CR, no budget necessary. Keep on spending, raising the debt limit, and extending the CR. Yeah, that’s the ticket. What could go wrong?
not sure with Europe focused on sustainability and building a scaffold around it and eventually succeding in the mid term .
Damn it feels good to be a gangsta
I am never shorting anytthing again in my life.
“Bull fo Life, G”
It’s monthly options expiry week and this pop is a great opportunity to take money of the table. Next week the market will be going down again.
and then up again .. yawnn…Yellen is focused on rip up the job .. job rips when money flow easier .. imagine what’s the fed crew horizon for next 1-2 years..
Raising cash today on this bump up.
ppt wins again. pays for itself and more every o/s signal in the past 3 yrs….