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Shockingly, the world did not end today (yesterday), which put a huge crimp on my “buy the dip” strategy on the global gold scale. This was especially true for DGP, which I finally got tired of waiting for and glommed at the $50.75 mark, in “first position” size.
Even more shocking, it seems everyone and his brother decided to become PM bloggers overnight. No matter, my bandwagon is large and full of goose down cushions. But certain friends are going to have to become less “jumpy” in their inclinations to ride this next wave of the bull. There’s lot’s of meat on this bone, and we are early still. Hastiness will not do.
Take for example the “gift” I left at your doorstep the other day? Remember AXU, and how I illustrated that it would pull back to the $7.70 marque, where it should then be SHOMPED with all due severity and muscle strain? Well… let’s see what happened in the space of just three or so days:
Here me now and listen to me latah (sic): AXU is going back to it’s all time highs, and MOOOOAH! How do I know this? Because the relative strength of gold is across the board scary right now. And the miners will generally fall into line with a rising gold price, and the miners are well undervalued in regard to a POG that is floating near all time highs as of today’s session.
Look at this $HUI Goldbug Miner’s Index… better yet, look how MUCH room it has to make up for:
And guess what? Baby $HUI is going to new all time highs as well!
And just so I can show you that I have some versatility in breaking away from all of these nascent gold bloggers, let me show you another stock I’ve been eyeing for quite some time now, and which I believe is set for a long term up move here. Data Security anyone: VDSI?
I’ve liked this one a lot in the past (ea, and it looks like it’s ready to resume running here, real soon. Best to you all.
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Golden Jake!
Pathetic and Lame, both at the same time.
Nondescript and boring … simultaneously. 🙁
Bi-WINNING!
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+1
It has been raining a lot lately and the lack of sun has effectively halted my ability to power up the laptop preventing me from buying shares DGP. Currently, I am working on a practical solution to generating electricity during times such as these. Will keep you posted.
I did manage to kill a boar today with the help of Maria, our 5 lb. Chihuahua, who by grabbing and hanging on our prey’s testicles was able to slow his retreat sufficiently for me to catch and run my knife through his throat. As much as it saddens me to kill one of God’s creatures, times are tough and buying pork at the grocery these days is expensive.
More later. I must run now as Mrs. 50 is complaining about Geckos in the catchment.
‘ll be in pig heaven for awhile with plenty of pork to supplement our mostly seafood diet
Nothing like boar you done kilt yerself.
“The best bacon.”
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Jumped on the bandwagon!
Just like “scumbag steve” in the pick above.
thanks Senator
That’s the guy! I plan to use more of his stuff in future… especially the “no smoking in the house” one.
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His name/name of site is in the lower right of the picture, professor.
I jumped on it too, though I had to use my IRA so my wife wouldn’t see.
Mooo whoo ha haa haa!
GSS doing almost as well as AAU right now.
Hope 6 didn’t sell any.
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see below. Nope.
(just a little pissed at chickening out at gobbling up more around $3. But then it would have gone to 2 fitty…)
It’s neck and neck, and I’m neck deep.
Whoa look at ole faithful AG go! Picked up a whole bucket of these miners last week. Great work sir.
Jake, do you trade in and out of these names or mainly just sit on them for a while?
I sit more than I trade. Which I find to be a lot less mentally disruptive.
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In the inimitable words of the OG gold bug…
http://www.youtube.com/watch?v=QWfbGGZE07M
Jake, Well played sir. Well played. BTW, Cramer mentioned this morning that funds had “only” 1% of assets in PM’s rather than the “normal” (his words) 5%. Of course this would be very bullish. Your thoughts on how underweight portfolio managers really are.
I don’t pay a lot of attention to funds. The guys who move the market are the hedgies and you never know what they have until a quarter later. Funds are notorious gold haters, though.
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Jake, I do believe DGP got away from me whilst I slept resting up from my recent boar hunt. Any recommendation of where to buy on a pull-back, should we get one?
Senator, well played indeed. Are you all in yet?
Hawaii, more stories from the Islands, please! Really enjoying them:)
Thanks momo. I’m at 75% now. At what level are you in?
Only about 60% thus far and that is with heavily adding DGP alongside the Senator yesterday. I also added some (not enough lol!) AGQ around 170 due to the Senator’s advice. Alas, I was dithering and blithering around too much last week to add the golds when you did, so I’m waiting for a pullback.
I’m not all in yet, no. Trying to keep an opportunity cushion.
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I think it’s hilarious you’ve officially been renamed, “The Senator.”
Only mildly different from one, “Professa!”
lol…i read this after posting ‘professor’ above.
I thought of you both whilst posting Scumbag Steve’s latest, above.
Wardrobe looks familiar.
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LOL. Definitely DMG circa ’87.
Also looks strangely familiar to our friends from E&G Court.
pfffft… that appears to be ‘faux’ fur…
I only wore real red fox furs
.
Today junior miners surpassed the majors which means risk is on. And to me SLW above $40 and EXK above $11 is a clear signal that PM’s are back on track, taking up where they left off.
You got it, punk.
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Jake Gint,
Any chance for an explanation of the top, and bottom three line graphs. also, i don’t get the chart that comes from the right of the price chart. Sorry for the dumb questions, but i’m in towing.
Yeah, those are all stochastic indicators of one kind or another. RSI is the best. When it’s over 70, we are overbought, when we are under 30, we are oversold.
They are generally good for timing entries and exits.
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thx
Jake – I follow on your $AXU thesis, but aren’t your bread&butter indicators here (PPT excluded) advising you to either sell $AXU or neutral? I usually wait until my favorite indicators and my thesis suggest a buy. How do you determine when it’s reasonable to ignore one set or another?