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You are skyying about in your chromium zeppelin, dropping empty champagne bottles from 1,500 meters onto the heads of unsuspecting proles below. You glance across the quarterdeck and there is your love, half a glass of Dom in her silk gloved hand and the light of Christmas in her eyes. The finest plum-rose gloss adorns her full, beestung lips, which are parted ever so slightly in a laughter that sets her page boy curls dancing in the silver streaked moonlight.
You haven’t a care in the world. You’ve made millions off the sins of The Bernank, Slayer of the Little Man. What’s more, the largest part of your fortune is stored in bullion bricks of various heavy metal denominations, lodged safely in your Rocky Mountain fastness.
But some latent foreboding nags– ever so gently — even as you pop the next cork on the desert-dry bubbly, sending that mushroom cap deep out into the lowering cumulus… You know now that the small plebs, the racers, the gimcracks, the punters who have swelled your gains are finally beginning to pay tribute to your cosseted hordes. No longer are they satisfied with the quick buck of the latest Sanford Bernstein-driven consumer good craze, or the lures of the Autumn Needham Tech Conference.
No, they now make claim on the Precious, and it’s time to grip the gunwales and be ever so wary. Behold the gathering storm which will afford us opportunity, if played ever so skillfully, like a minuet for harpsichord, parsed out on a tight-rope. First, a lesser known blazer, FRG, serves to illustrates our existential dilemma:
This overbought condition is endemic in our chosen sector, fellow aviators. Note another favourite which perhaps has become too much so in recent weeks:
EXK will continue to provide gains, I’m convinced of it. It may even get to $8.00 before 2010 has breathed its last. I also believe it will retrench rather severely, however, andf quite possibly as far as my target of $6.00.
As a result I have taken almost half of my holdings off the table at prices between $6.90 and today’s close ($7.30). If you have been with me from the low $3 range, your over 100% gains should be suitable for framing right now. The choice, however is yours.
I shall see you all across the scudding skies.
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I down to half too, which I hate because I love the stock, but I’ll try to avoid the vomitoriam.
Sold rest of my EXK today for >30%. Will continue to follow you on this one going forward. Charts above tell the story well. Standing by for any/every USD update you have.
Thank you as always for taking the time to do these posts here and on PPT.
OK, you’ve convinced me to shed another 25% of EXK &FRG to get down to Half.
Nice post.
I’m one of those guys that has been waiting for months for a sizable pullback before getting my hands back on the precious. So far no dice.
Pynchonesque!
Lol! I wish!
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http://www.youtube.com/watch?v=yEfLzZHDtBc
Why Silver Why Now?
Eloquent. Succinct. Fabulous. And, the chick sounds hot.
Jake, have you thought much, or formulated any opinions on, palladium the commodity? Or miners thereof?
Same question on platinum.
Hear! Hear! Very well illustrated, Senator Gint. Those of us with even the slightest modicum of sagacity have followed your advice and gently reduced our holdings in an appropriate manner, thereby, may I say – banking coin, indeud (sic). Our appreciation for your, shall I say – sterling efforts knows no bounds.
Does this spell a top?
https://www.citizen-citizen.com/collections/all/products/gold-pills
FYI — that’ site has something wrong w. its security certificate.
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Nothing wrong. just add exception to the site and you will be fine
$425 … fitting for those using blow in the evening and in need of a daytime burst of EGO.
“Analogous to our culture’s obsession with luxury and consumption, these 24K gold leaf capsules turn your innermost parts into chambers of wealth. Consume and digest.”
Is the squeeze over or just beginning? Open interest down 15% but how long will it take them to cover? Is $400 silver really doable … Hahaha!
http://www.xe.com/news/2010/12/14/1583729.htm
http://www.beaconequity.com/financial-times-jp-morgan-silver-manipulation-scheme-unwinds-2-2010-12-14/
http://www.gotgoldreport.com/2010/12/jpm-getting-smaller-in-silver.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+typepad%2Fggr+%28Got+Gold+Report%29&utm_content=Yahoo%21+Mail
Jake,
Your rich well thought out prose tickles my brain.
Well done!!
+ me
In turn, I enjoy your clingy leather shifts, and facile battle moves.
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Rarely do I fetch my oxford on these internets
gimcracks?
gewgaws?
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