As you readily know by now, “The Fly” sold out of his gold and silver weeks ago, right near the highs (that’s how I roll). I took a small float on EXK last week, hoping it would appreciate with the same gusto it has in the past. But it was not meant to be, so I sold it for a quick profit.
While there are numerous reasons to be long gold and silver, there is just one to sell. Unfortunately for those of you stuck inside of this n00b box, it is the dominant force dictating price now. The flight for liquidity continues and so many of you ham and eggers are doing “The Ron Paul”. Much to your chagrin, you now find yourselves entirely fucked inside of these junior miner hell holes. That is not to say you’d be better suited in DECK or LULU. Howsoever, it is rather fitting that those of you who take pride in “being safe” are the most exposed to the harsh elements of the market. A storm is brewing and no one is safe.
I intend to buy EXK, AG and RGLD when prices fall precipitously from here. This is a 180 reversal from my prior position. It must be said and I will be the first to say it, precious metals no longer enjoy the protection of being a “defensive asset.” It is being used by all of you fucktards to apply risk to portfolios.
The gig is up and your day of reckoning awaits.
NOTE: The new Batman trailer is out. As usual, it looks awesome.
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