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Amidst the rending of garments and donning of hair shirts, I stand back in the deepening silence and await perhaps the largest move in the gold market since the Recovery in March of 2009.
Yes, silver took a hit today, as is its wont in these fear markets, and I may well let some of my sold silver miner calls play out when I was thinking just last week of getting rid of the lot of them well prior to their expiration in August. Now they may serve their original purpose as a hedge, who knows?
I do know that gold, the physical metal, held up beautifully today, even in its current overbought condition. This tells me that while Italian meat ball hurlers may be scaring people into the dollar, that the ancient metal of Rome is also garnering its share of the fear premium.
No matter. Whatever the reason, gold seems on a heady trip toward breaking news highs, and just as I rode AGQ deep into the $300’s when that metal was moving like oil over an ice patch, so too do I now presume to ride the great beast DGP into glory. Gird your loins and prepare yourself, my friends… the signs are well emblazoned on the snows that surround us:
Enjoy, enjoy. And remember this: there is always a bull market somewhere, and nine times out of ten, you will find it on Jake’s blog.
Best to you, good penitents of Opus Dei.
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Indeud, and don’t forget the beast’s UGLy twin. Thx Senator!
DGP has better volume, I’d stick to that one instead.
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Pathetic. Lame.
Que??
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Riding my $ SLV to gravy, almost jumped $GLD and at least one Jacksonian to the locally proclaimed jeweler or PM dealer 2Day, but diligence dictated with the following: “balance sheet.”
Thanks Sen.!
Greetings Senator. You think the minors may play catchup to the physical metal? I was thinking more in terms of NUGT and GDXJ.
I think they will, after a pullback here. Silver may or may not participate, and I’m leaning toward the latter at the moment.
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re: silver – in the immediate future or the foreseeable future?
Silver’s next pullback won’t hold the lows of the past couple months this time around. Be prepared for sub $30. Then again, I’m still waiting to get heavily long around $27.
Silver is confounding the masses!
Holding!
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What I meant to say was that if silver does pullback to the base it has established these past months, I doubt that will hold. Sure now is a hold, but $27, that calls for a celebration.
A slight error on my part, however I was within 10c during a call made in the 33s on 6.27.11 : https://twitter.com/#!/thesandbum . Not too shabby for “the public”
I have taken what coin I have left after the sale of our house and lawnmower from said buried coffee can and deployed it into GLD, GDX, GDJX, and NGD.
The solar panels around our tent collect energy for our computer, so that I am able to turn it on long enough to make a few purchases now and then. Except for the vermin that occasionally crawl into our sleeping bag, all is well living in the jungle of the Big Island.
We are just steps from the ocean, so we are able to catch fish for sustenance and there is ample papaya and mango for the fruit portion of our diet. We’ve also found that if we stop by the local church on Sunday, a hike of only three miles, we can partake of the Sunday potluck and fill up on other food sources to round out the diet.
In a few days, we should have sufficient power to once again turn the compute, at which time, I plan to make my first purchase of DGP.
Life is what you make of it and it is very good!
haha, nice. Perhaps I’ll drop off an old battery while I am on my next vacation in the area.
Mrs. 50 and I would never turn down a charitable contribution.
That’s pretty good 5-0. You ought to do a story post in the Peanut Gallery.
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