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Listen to me very quietly and carefully — You need to be on your toes at all time and keep a cool head like Jimmy Dean in a meat locker because half of what’s going on is designed to scare you into a blue paralysis that will render you immobile, and thus, malleable.
The market thinks you’re putty, see? That’s why we’ve got guys begging off, folding their tent, going to cash, putting that roll in a coffee can and burying it on the back 40, right next to the bomb shelter packed with MRE’s. They say “no mas!”
I say “oversold.” I say that some of the wilier tells in the mining industry — like ANV and CDE, NG, MVG, BRD, and yes, even beaten down old XRA all jumped ahead 3.5 to 6.5% today. What’s more, they all stayed up even after the selloff in the precious metals themselves (gold and silver) later in the day.
This is my signal to hold fast and watch the market closely. I still think this debt deal quails the dollar, either by lack of confidence in the foreign markets or by dint of Bernanke printing press (Jackson Hole Conference right around the corner).
So I’ll continue to bide my time here, beer and NUGT‘s in hand, and wait and see what spooky stories the market brings us tomorrow…
All the best to you, my fearless ones.
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Indeud. It’s all up to the dollar. To roll over or not to roll over that is the question.
Jake I enjoyed your earlier piece on the “Out of the Woods” and Shed’s on “The U.S. is fucked.”
I think both tell the story nicely. I also forwarded these to friends and family.
Keep up the good work.
Appreciated, thanks.
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Are you saying the $USD will go down in style?
Pretty cool. I rassled in high school and college. Greco Roman? not so much.
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You didn’t mention NG which is up big already pre-market. Look out for that one!
You need to read more carefully.
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Oh yes, I am sorry, I missed that. Anyway, today was quite a flush out on the market. The upward momentum in PM’s is still in play though.
Agreud. I think we’ll probably see a rebound tomorrow in the overall as well.
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I got this from Johnny Two Times, full credit to him…
We’re in a Bear Market!
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I was at a party at Jimmy Dean’s house along the James River a few years back. Quite the estate.
I’m feeling like Rick James ovah heah this morning.
Off to see about some stripers…
James Dean the movie star, not the sausage guy….
You are at El Club de Sol y Surf?
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JG,
You didn’t mention EXK, up almost 5% today…your thoughts?
Love your posts – hope you enjoyed your vaca.
I didn’t add any EXK, no, because I’m “gills up” with it. Nor any AG, SSRI, MVG, GPL, PAAS, CDE, HL or any of my silver boys.
But I sold NO SILVER today, even as I let a little NUGT, DGP, XG and IAG go, as I was “overfilled” on some of those and had some fat profits I wanted to recycle.
But silver looks like it’s still got room to go, so I left it alone. I hope I won’t regret that.
Freaking RGLD is such a solid stock. I hope you all have some.
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Jake,
If you like myth, one of my friends out here in the Pacific Northwest is a forest ranger and tribal member of the Suquamish Tribe. He has seen bigfoot 22 times face to face and has had 49 total encounters. There is a family of bigfoot on the reservation land that he manages.
There are a few habituation zones in the US where bigfoot has regular contact with people who keep the creature’s existence quiet to protect it…http://www.nabigfootsearch.com/habituation.html
DNA evidence from 6 separate specimens is about to go public and identify that bigfoot actually exists, according to a scientific peer review. Watch for it in the news…
http://robertlindsay.wordpress.com/2011/07/04/breathtaking-news-from-the-erickson-project/
http://www.sasquatchthequest.com/index.html
Slender man is made up fiction. Truth is far stranger than fiction.
Slender man is pretty creepy, though, you have to admit. Nice way they pulled that vid off, I thought, using bullshit historical archives.
Bigfooot has gone kind of campy… I mean, they are making fun of the poor sot in beef jerky commercials now!
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Crack open a copy of Timothy LaVey’s Satanic Bible sometime, and start conjuring up diabolical entities to do your bidding. See how pissed off they get.
If you like creepy, go to the source. Reach your hand down into Hell. You only live once…
Um, I’ll pass, thanks. 😉
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Senator
The Fing Eagles aren’t quitting. I agree with you about Nnamdi. They signed Ryan Harris today of the Broncos and Ronnie Brown. I hope they end up like the 08 Cowboys, star studded on paper but 8-8. If you don’t mind me asking why did you unload your DGP today? Many thanks for the awesome work you do! On a side note fuck the Eagles!
I didn’t unload all of it. Just half. I’m trying to be more disciplined with the more volatile elements. I’ll probably regret it!
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