Fly Takes on the Mustachio’d Bearshitters via Liberal Use of The PPT Hammer
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Here’s the full vid, if you’re interested. I tried to isolate the part where Bugs sells the King’s garden property to the Sheriff of Nottingham (pictured above), but couldn’t find that select clip.
I thought the Sherriff’s self-head hammering in that scene (about 4:00 or so in the full ‘toon) a particularly apt metaphor for the ursine intransigients, but I guess the scepter-malleting depicted above will have to serve as an able “second best.”
He is making the Sheriff a “KNIGHT” after all, right?
Too unsubtle? Pity.
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More of the same wanton winning today, even as my activities in The PPT were relegated mostly to assembling one single ginormous call position in [[GDX]] .
I sought “deep-in-the-money” leverage here, purchasing the December 39’s and 40’s at $8.60 and $7.90 respectively. I had to buy both at the ask, which I don’t like to do, usually. However, I was unsuccessful with limit orders at lower prices, and did not want to wait another day, as I think GDX could launch again at any time.
I expect to hold these calls til near Turkey-Day, for what it’s worth. I may shave some exposure if we have a large run-up earlier than I expect.
In other news, the “Killer Bee’s” [[BAA]] and Beazer Homes USA, Inc. [[BZH]] continued to mint coin for myself and my compatriots in the bullion vaults of The PPT. That’s just one letter of the alphabet in double digits… I’ve another 25 in here ready to roll.
It’s been that kind of day in The PPT Wintocracy.
I continue to like IAMGOLD Corporation (USA) [[IAG]] , [[CDE]] and Silver Wheaton Corp. (USA) [[SLW]] for accumulation purposes here.
Tomorrow, I look at an interesting metal play starting with “A” — I think you’ll be intrigued.
Until then, Slange (sic), and out.
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Aluminum ftmfw
It’s a bad ftmf…shuchyomouff…WHA!?
I’ve got AA… anything else you’re thinking of ? CENX?
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May I suggest mining junior lotto play TLR?
Why not? The rising tide scenario gives even the little turd boats a good chance. I will have a look…
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JG – What’s your target on C?
I don’t necessarily have targets, as I think some of these will really run, including C.
That said, 5.43 is the recent highs.
$6.25 is the first fib.
$7.50 is the 38.2% golden ratio fib.
I like to hold this one for the long term, market permitting.
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Thanks.
Since EXK is down most, thinking of getting in here…or doubling down on my cvm position?
EXK could go as low as $2.72 and still be on the recent trendline, but yeah, I don’t think you hurt yourself adding here.
I’d let CVM bake here for a bit.
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Gap fills on almost every precious play today. Nice entries, if you are a hankering. Price o’ gold & Silver is headed back up after it’s usual “til noon” sell off.
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Ugh, ugly close with the dollar rallying. Typical Fed head fake first response. I’ll believe the dollar is stronger when I see it.
Salted away some more GDX 40’s at the close, knife-catcher style.
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Yeah, action was pretty weird. I wanted to lighten up a little into strength, but the market moved down so quickly I didn’t get a chance to sell anything. I’m still trying to figure out how to be more nimble on the sells. Patience being a virtue and all that…
You never want to be too quick to sell, anyway. It’s a Fed day, usually the following day is the reversal.
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Well, fwiw, my magic 8-ball (index put:call ratio) says we go up the rest of this week…as unlikely as that may seem after today’s dive-bombing into the close.
More on this later, over in that wretched hive of scum and villainy known as the PG.
Hey, go easy on the PG. I’m finding the index put:call ratio posts very enlightening. I’d love to catch the 1 star bandito in the act.
I say that with all the love & affection I have for that place.
It’s actually become quite civilized since our semi-humble beginnings…
Dollar is beneath the moving average to a large extent and the SP500 is above the moving average to a large extent. It is ripe for a dollar bounce here . Anyone own NGD?
Me. A ton.
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A ton? Let’s see, 16 oz./lb. and 2000 lbs./ton = why are you here? You are rich! They found a British ship in the Channel that is supposed to have tons of gold coins – 250 years old.What are the chances of NGD being purchased this time around?
Are you Flash Trader or Flashman?
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A “ton” is a paper tonne, btw.
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I own a ton of NGD, too. Although I am pretty sure my paper ton and Jake’s paper ton are quite different. LOL
Still, I can’t seem to come to any conclusion of which gold stock is better, RBY, NGD, NXG, NG, etc. Maybe nothing is different in the short term, but I have to think that in the long term, something is better with one of them. I just can’t , for the life of me, figure which one. Do you guys have any ideas on which would be better if you only wanted to hold one or two?
In the silver arena though, I am hooked on EXK and HL. Love those two. Used to hate them both, but wow, what a difference a couple of weeks makes.
For takeover plays I am carrying Canplast and MDW. We’ll see.
I own a teensie tonne
Here’s a “SAD Indicator” indued . — re, Timmah the Lemming King’s griping about my appearance on his site, but of course, he’s made his site now “comment approved only” in the best Mushy Karl Denninger fashion.
Fascists of a feather flock together, and one thing they do not want is to be publicly humiliated. My reply was nothing of the sort, though I’m not sure if that’s how Timmah might take it. Here it is in full as it’s likely it will not be approved by Timmah any time this century:
Timmah says: “The sudden re-appearance of JakeGint, a henchman for a site that I shan’t name (but which rhymes with “I Thank Groin”) and who was mysteriously and utterly absent when I was raking in cash but sees fit to burst back onto Slope to chortle when times are tough.”
What an odd prism your memory runs through, Tim. If you recall correctly, I was a gadfly here long before I ever even met the fine fellows at iBankCoin (can we please dispense with the childishness, btw? Why in the world would you go to such transparent ends to “hide” our name?) and only parted ways with you when we agreed (approximately November 2007-2008) because that’s when it got boring. You may also recall I got bullish a mite early (December of 2008) and suffered quite mightily there for a couple of months, much as you, “Saint” Timmah (& cohort) are doing today.
The simple reason I’ve “reappeared” is because word of your bitter calumnies have made it back over to where we successful traders are feasting on mutton and calling for additional meade in between minstrel shows. In other words, you’ve brought this curiosity upon yourself, thanks to your amusing penchant for blaming everyone but yourself for your trading mishaps. It’s all quite mad, but I should think you’d be pleased by the attention.
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I find it amusing he would choose to use the word “chortle”.
As i’m sure you are aware, this combo of chuckle & snort was coined by renowned FANTASY writer (and paedophile?) Charles Lutwidge Dodgson, aka Lewis Carroll.
He used chortle because it sounded cute. Trust me on this.
Why you guys have this thing going with your “competitors” is beyond me. Must be a guy thing. Most girls just ignore obvious jealousy.
It must be a replacement of the old tribal rivalry ways of yore.
Anyway, rock on, and may the best caveman get the sabertooth!
Don’t make me cut you.
lol – just kidding!
That’s what he moderated. What a freaking clown he is.
Please note that soon after Jake’s comments over at Slope (in which conversation Tim tells him that he was moderated due to “cursing”) is this little (unmoderated) nugget of a comment, from one known as MRPT:
“Bernacke has a lot of balls not increasing rates from 0 – .25% and saying the economy is doing fine. It is fucked, and I am one happy camper to see this start to move in the right direction. (…)” [emphasis mine]
laugh my fucking balls off.
It’s interesting that he seems to have edited it because when I saw it this morning the reference to the venerable ibc has been removed.
Doubly douchey if you ask me.
As I have warned him, he is becoming a veritable Karl Denninger, Jr — surrounding himself with similar delusionals and walling himself away from any critical commentary.
This can’t end well.
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Good catch,
He’s done it before – the last time was when we(myself included) started laughing at him for calling the longs of the last 6 months ‘dumb money’
I followed through the thread on your conversation is and it was lame in the least.
Nothing suprising though
Take comfort in the fact that the other dopers continue to lose money hand over fist. They don’t have the first clue about how important non-biasness and flexability is to trading and pay for it day after day.
And I meant that in a nice way, not a smart assy way.
chanci<<<back to packing
chanci,
What type of stuff do you look for when determining if a stock is “better” than another?
On the metals I try to look at everything. Where they are exploring, where they are mining, their balance sheet, their management. And i they are not yet producing, if infrastructure is in place. I read what the gold bugs are saying about them.
For instance Polymet Mining has the infrastructure in place, but are waiting on the okay from the environmental agencies.
Copper Mountain Mining has the infrastructure in place as well and just got the go ahead from the agencies they needed.
Midway is an explorer, not a producer , so I look at who of the big miners are showing interest, and what the gold bugs say about them. A lot of the gold bugs are fanatics and experts, going to the properties they invest in several times, just to make sure there really is gold in them thar holes.
I don’t have too many explorers though, mostly producers or near term producers.
And I check to see what Jake is saying. I am back in the PPT, too, so I can look at the scores in there now, which helps a lot in trying to make a decision.
I screwed up in a major way when I sold most of my producers, and didn’t just take profits, leaving a core position, as Jake advised.
I don’t know anything, sorry. I’m just learning.
Taking profits, even large ones is no sin in this field. As you can see from days like today — there are always buying opportunities and the drawdowns can be quite kidney removing.
Bulls buck, my friends.
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Big green candles and not red ones
http://www.buysellshort.com/dow.htm
Silly, of course. One only has to note that the entire FDR and (two) Truman Administrations didn’t even get us back to “square one” at the heights of the “laissez faire” Coolidge Administration (Amherst ’88).
Then you’ve got Kennedy, who was more Reagan than Roosevelt, and Clinton, who drafted off the exceptional work of the GOP Congress, albeit kicking and screaming all the way.
Now we’ve got Carter II, Electric Bugaloo. Enjoy.
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Indeud. Treu silliness. Jake, I hope he’s not JC-II.
I believe this; Democrats revel in currency destruction, and 88% stock market gains are nothing to boast about if they come hand in hand with unprecedented inflation.
John Paulson owns GDX – I may go for some of it – don’t want to get too heavy in metals.
GDX is a decent “catch all” and while it may not return as much as some of the individual juniors, it gives you a good exposure to the large miners with some diversification for risk mitigation purposes.
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And look! On sale again this morning. lol.
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Of course I bot more AGQ yesterday (not a lot). I can tell you I have never bot that one correctly.
And yet, I’ve never lost money on it either… odd, no?
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Significant selling of UUP at $22.82 — 755,000 shares of “red candle” in ten minutes.
Also — the 61.8% fib on SLV is 16.04. Significant, I believe.
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Jake – Told you I should have lightened up yesterday. That’s the most expensive nap I’ve had in a long time.
Regarding the battle with the “Dark Knight”, there must be a universal truth hidden somewhere in that mess. I just don’t understand how trader’s or wannabees in this instance, can delude themselves for extended periods of time. I guess it’s one of the really dark sides of the internets where people can always find like minded people to support their twisted view of reality.
I’m just glad I’ve got my P/L and iBankCoin to keep me honest.
It’s something of a shame, as I’ve no doubt that Knight keeps the bulk of his assets in treasuries, whilst playing lemming King to folks with no such margin for error.
I wouldn’t mind it so much were he not patting himself on the back every ten minutes. It’s quite egregious.
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What a whiny sniveling puke! Knight from Dope On A Rope cry’s to his shameful little Lemmings that I sent him “hateful images and text”. I sent the guy a future chart of his account that he himself put up bragging about. All I did was draw in the gap down & perilous drop it would ensue after a brief retrace. So he banned my IP. I sure have enjoyed the hell out of trading the opposite of his picks.
He banned your IP? That’s pathetic. Use a proxy…
not frownin – double downin on cvm @ $1.60.