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I don’t know what’s going on, but it appears we’re about to be overrun by Viagra-popping leprechauns. I’ve been buying some stuff back in drips and drabs but have been mostly waiting. I added AUQ today and bought some more IPSU too. Both of those seem to be working well. Meanwhile all the stuff I sold last week is doing aerobatics. That’s annoying.
This is why we keep the core of course. We don’t know what the bull is going to do… especially at these end stages.
I looked over all my charts tonight and there are quite a few looking like imminent breakouts. These include AG, ANV, AUY, EXK and even — strangely — goofy old BAA. Even GDX and GDXJ look pretty good, if you are into the ETF thing. It’s our old friend the gold bug index $HUI that will provide the signal for me:
Most of those names in the chart above should break out with the $HUI index here, but I wouldn’t worry about having to pile in. There should be pullbacks on all of them after the breakouts, so you should have ample opportunity, if you want to be cautious.
Besides the above, RGLD and NGD are rather stretched here, and I will be offloading some likely tomorrow on any $HUI break.
Best to you all, and watch out for midgets with orange hair, green vests and knotty chestnut shilelaghs. Those fuggers will wield those beatin’ sticks.
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yes very strong rebound indeud.
haven’t ruled out the “silver top” scenario though, if you recall my last comment here on that.
great post, and still the best video ever
I hardly ever do “do overs” but I just crack up at that guy’s stuff.
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Any thoughts on RBY? No position, but I keep getting tempted.
Even my little CGR regained the 50ma, broke the decending tl and the macd & stochs look good. Forgive me, I’m a little stunned, lol!
Senator, are you bullish on sugar or just the oversold IPSU?
I’m bullish on all commodities, and have watched IPSU for a while, since it’s one of the few available sugar plays that’s not a raw commodity index.
I figured it was pretty oversold and it was showing signs of rebound, hence the trade.
I have little interest in RBY, even though I still own some… just burned too many times.
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Not letting go of my IPSU until 11!
I think there’ll be a pullback before that, so you may have to wait. Not a huge risk, however.
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Well, maybe not… shit up another 8% this morning…
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i know, right?!
Anyway, i changed my mind I am just trailing it with a $.50 stop…i am out of pocket next couple of days and don’t feel like worrying about it. It’s already treated me right, so no need to get greedy.
by the way, thanks…you were right when you said it was free money.
Golden Post!
What do you think of northern dynasty minerals? I’m thinking about grabbing some today.
This is the first I’ve noted it.
I’ll cheggitout.
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I’d like to see it break it’s 200 day EMA first…. had trouble there a couple of weeks back.
That would put you over $11.40 for a safe entry.
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Thanks kindly.
Notice the relative strength being shown by MVG? They beat the consensus earnings estimate by 100% lol. You think this is the next takeover target maybe?
Anything smaller than $5 bn is a legit target.
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Political Question:
I’ve been reading a bit on the history of US politics. It seems that Prior to about 1930, most “republicans” were strongly protectionist, while “democrats” and europeans favoured free trade. The trend seems to have reversed. Is the aggressive exportation of US currency a defacto protectionism; replacing (or disguising) the republican tarrifs of yesteryear?
Not just Republicans were protectionist, much of the country was. The “populists” certainly weren’t looking for free trade, neither was FDR, et al, thanks to the unions.
To their defense, the principals of free trade — and many economic principals we take for granted today — were not as widely discussed back then. Amity Shlaes book on Mellon is a good history of that period.
And no, I don’t consider exporting our dollars as “protectionism,” I consider it taking advantage of past economic strength to be the liquidity provider for gloabal trade… but also something that cannot last forever.
Thanks again. I’ll look up your reference.
Here’s what got me inquisitive:
http://www.youtube.com/watch?v=RgcdRCWEt4Q
Once again, I ride the coat tales, but gosh do I value the journey! Hail!
I would have used this vid instead. Oldie, but a goodie:
http://www.youtube.com/watch?v=nda_OSWeyn8
Jake, do you buy into the potential triple top reversal in GDX?
Nope.
Check your definitions… generally a 3 to 6 month pattern. Our first “top” was back 10 months ago.
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