Trust Ye Not the Evile Clamme!
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Well, wasn’t that a refreshing sell off we had today? Will we bounce from here? Likely, at some point. But I wouldn’t get overly excited about it. In fact, I’d take any rebound in the next couple of days as a welcome loosening of the steer-making device from around your sensitive bits, and lighten, lighten, lighten.
You want to be as light as a Capezio-wearing chorus line extra dangling from a dirigible. Because ladies and gentlemen, the Clamme is not your friend! The Clamme is the friend of men standing in bomb shelters poring over ruined real estate portfolios, but he is no friend of the genial Speculator.
As good as it feels to revel in the seemingly endless supply of bubblicious liquidity flowing from the Helicopter du Clamme, you must believe that the other side of that euphoria is the long weightless drop down the elevator shaft, to which there is only one end for your portfolio.
Ker-freakin’-splat!
I love the Russell 2000 as a market indicator. Are you going to pay attention to the Dow 30, instead?
A 10-12% sell-off will bring us back to the $72-73.00 area, where I see pretty solid support. The 200-day EMA should rise to the $70 level here in the next couple of days, and that will offer additional support. I don’t expect a bloodbath, yet, but why watch your portfolio shrink, or worse, get thrown in the chowder bowl when we will have larders full of opportunity in the coming weeks and months?
Patience. It’s a most difficult virtue, but one that will pay literal dividends in the weeks ahead.
I added to all my market hedges today — SDD, SDS, and QID, to salutory effect. I also off-loaded a small amount of MVG that I had not hedged, and sold off another quarter of my FTK holdings. Tomorrow, I shall likely purchase some TWM and perhaps even some TZA, which I have held off on purchasing due to it’s razor-sharp canabalistic capabilities.
Best to you all, Clamme Diggers.
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I will not partake of the clamme, Sam I am.
Nice catch on the bearish volume divergence.
I like to throw in a little chart chomper bullshit every now and again, just to get Le Monsieur’s dander up a tetch. 😉
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LoL. You didn’t think the counter-clam pic was enough to get his dander up?
He will steal that picture.
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For a long time, we haven’t had an influx of bears busting the balls of Le Monsieur. Perhaps we will be seeing some of Le Dope’s clientele flood the comments?
In all fairness, from my review of the comments over there, the only true AH is the Dope himself.
Then again, it’s a more elderly set.
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Sneaky insider speak for “by chance, sir, have ye any sea salt?” Lol
Chap’s,
They wouldn’t dare haze flippe-floppe-flye after he returned 850%+ last year!
jog on
duc
Ahem
Great post.
That clam pic at the top is one of the best things i’ve ever laid me eyes upon!
I am thoroughly hegded with TZA, QID, ZSL, and a smattering of protective puts. And yet, I do not know if I’m quite hedged enough….need to run some calculations and see what kind of balance im in.
That is the Evile Clamme. He must be avoided.
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Great graffique. Salvador D would be proud. As I entered into an EDZ relationship early (9% ago and a week ago), I took profits this a.m. and am ready to leap (with a battemont degage) back in = upto to 1.5x position.
I can’t believe I used a freaking ballet term, going to wash my mouth out.
No worries, we are big ballet fans at our house.
However, I think you may be leveraging back up too soon. The PM market may be nearing its full retrace, but I’m not sure about the overall, or even emerging markets.
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Do not besmirch beards. My Amish grandpappy (who was not a banker) had a nice beard that would catch organic breadcrumbs when he ate.
In all seriousness, this explains a lot.
The Amish are very nice people, but they are also de facto Luddites.
So you come by your bizarre anti-modernity by nature AND nurture.
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I-am-clam
Clam-I-am
That Clam-I-Am
That Clam-I-Am
I do not like that clam-I-am.
Do you like green money and plan?
I do not like green money and plan.
I do not like them clam-I-am.
Would you, could you in a bond?
Could you, would you, with a GIC?
…
Work this out for a whole piece and post it in the PeeGee and you could probably claim the new tab.
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I would like the new tab as a platform to peddle electric fireplaces. Made in usa bitchez!
ehhh… Rattled off some more dribble there for ya Jake! 😉
Check the PG.
Jake, what you think of closing candleschtick prints in XAU, HUI, GDX, GDXJ ? Look like bottomy prints ; Maybe not THE bottom but at least short term bounce?
IAG strong like bull … GSS nice reversal
AEM bounce off 200dma
ABX nice candle
NEM green w pos divergences
I can wait. I still have my core, remember….
I have a target for SLW and EXK… they haven’t been met yet.
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What are your target prices? Please?
I don’t want you hosers front running me! Seriously, though, I’ve mentioned them… search the blog Luke!
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Buy some gold.. before you embarrass yourself Jake.
And blog more damn it. I like what you post.
Not till the POG=$1300
Sorry man, can’t blog from work any more, unfortch. I do comment as frequently as I can to make up, however.
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Jake,
Compliments on your superb timing.
Grazie, it wasn’t spot-on, but sometimes this game can be like “horshoes and hand grenades.”
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