What Goes On at Jake’s Desk Whilst He’s Away
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What the hell goes on around here while I’m gone? I mean, a man takes a couple of days to go on a top secret mission, and the place falls to wrack and ruin. I come back and my desk is all askew… my papers molested, my fine Cuban cigars gummed and caked with salivatory drool. What in the bloody blazes has been going on in my absence!?
What’s that? Random Errand Boys stealing up to my desk and attempting to short the silver lode?? My impulsive young man! Why not just go bounce on the high-tensile strength trampoline with a fistful of extra-sharpened #2 Ticonderoga Pencils??
Honestly, I just don’t understand the tendency toward self-immolation that pervades this site in my absence. Why is it some many of you “traders” look to shower yourselves with butane and then engage in “roman candle horseplay” of the most ill-advised variety? This is not an episode of “Jackass,” this is high-thesis investing!
Don’t you like money?
Why take the high risk trade? For thrills, a la Beavis, et al?
[youtube:http://www.youtube.com/watch?v=XchwE9zVdnw&feature=related 450 300]It’s nonsensical, I tell you. If there’s one thing my compadre Gary Savage and I agree on… it’s this maxim: NEVER SHORT A BULL MARKET!
How many times must I repeat it, and still, like moths to the flame, Icarus to the sun and an Obama Voter to a Trans Fat protest march, you insist on ruining your fragile portfolios by playing with pinless grenades whilst cavorting in a cranberry bog. And here you come again, your fingerless hand-stumps held out in silent imprecation, blaming me for your troubles.
Well, it’s true, I am here to help. But you mustn’t be led astray again. Remember, fading over-confidence in certain sectors of this site is almost as sure a signal as an overbought dollar. Here’s the latest on that curmudgeonly currency, btw… note how we are advancing into significant zone of resistance on this weekly:
Note that I think the dollar can extend all the way back up to that0 $78.10 area, where both the 61.8% golden ratio fibonacci retrace and the rising trend line offer strong resistance. So don’t be surprised if we pull back a touch more in both the markets and the commodities in the next couple of days as the dollar reaches that resistance level one more time.
After that re-touch, I predict that we will see one final glorious “plungerooni” in the dollar… down to the lows indicated on the above weekly chart. At this juncture I expect the typical bull here will get drunk on cheap cherry wine and– in the the throes of sock-tongued inebriation– bury his face in the bosom of some local tavern wench.
This, I would contend, would be an ill-usage of your time. I would rather suggest taking that period to phase out of your remaining long positions including, sadly, your precious metal miners (at least for the nonce), whilst battening down the hatchest with some choice shorts (like the Skiffles).
In the spirit of caution I of course must warn you: should we break significantly past that $78 dollar index price marking our resistance, all wagers are off, and the window should be closed all the sooner.
My best to you, my Nuttiest of Professors.
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Best pencils ever
Love ’em.
Great for the Soduko, too.
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Anyone who gets a hard on for pencils needs to be institutionalized.
Learn to appreciate quality in all things, Daniel-san.
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Those are the JC Penny of the pencil world. Clearly you are in need of pencil re education.
Yous cranky
Best lesson I’ve learned from IBC is to develop a thesis and then stick to it until something changes which causes the thesis to change.
I will reveal the world’s best pencil tomorrow for you graphite haters.
Unfortunately I have no idea about the value of the dollar or how that correlates (or doesn’t) with the broader market/equities. So I have no idea what you just said, but it’s probably pretty good.
Speaking of pinless grenades, a guy I know picked up a 20mm shell and pounded it against the wall bragging to his buddies that it couldn’t go off. He lost two fingers.
Yikes, he was probably happy that was all he lost!
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I’m wondering why a staunch conservative as yourself would willfully violate US embargo laws by having Cuban cigars in your possession.
Criminal penalties for violation of the Regulations range up to $1,000,000 in fines for corporations, $250,000 for individuals and up to 10 years in prison. Civil penalties of up to $65,000 per violation may be imposed by OFAC.”
Expect a visit from your local constable, mister.
Learn to appreciate quality in all things, Daniel-san.
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1, 1, 2, 3, 5, 8, 13, 21, 34… I don’t get it.
Just think… “Golden Ratio,” and you’ll be set.
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me thinks the $USD sees 80 before 73.
I will be well out by $78.50 if that’s the case.
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Since when is burying ones face in the bosom of some local tavern wench an ill usage of one time?
To everything there is a season, and a time to every purpose under the heaven…
Ecclesiastes 3:1
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thanks for the heads up jake,one Q,why lately all the caution on miners?,you would think that for the most part they have been under performing what they produce.
They are underperforming, and that’s why I’m buying them and not the fizzical or fizzical equivalents.
That said, nothing (usually) trumps a dollar rally. That said again, we are holding well right now despite that rally.
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tennis is a gay sport.. i much prefer any sport with contact
that said, i’d prefer golf to tennis any day and all day long because it’s infinitely more difficult to master (or even be good at)
Golf is for wheezy old men that can’t get it up anymore.
You might as well lay yourself in the grave and pull the soil down on top of you…
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LOL
Still, i’ll play some hockey, bball, football or baseball over all of them. and behind those 4, lax.. but never would i ask to play tennis
Uh oh, chivo is a lax bro. Should have known with his laidbackness and such.
Lax is anything but laid back. It’s a fuggin Lawn Guyland sport… we are the last thing from “laid back.”
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http://mylifeisbro.com/
splains it all
That’s funny… but if you note, he says “I don’t even play lax, bro.”
Californians ruin everything…
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If the USD does begin some sort of longer term uptrend it will begin at $74.75ish.
Jake,
What do you expect will happen during the transition from USD final collapse to the new world reserve currency? I don’t expect any sort of confiscation of PMs, but I do expect heavy manipulation of PM prices when that happens.
I also get the feeling the IMF’s SDR basket will include digital gold, which will allow the SDR to be backed by gold but will also allow gold’s value to be diluted, since the digital form will be a manipulated fiat currency.
What’s your take?
Two things,
First, I don’t expect any “transition” any time soon. I just don’t think the rest of the world has the balls to try to adopt a separate currency after the debacle of the Euro.
I think they are just as hooked to “the easy money pipeline” as we are.
Second, I’m not worried about a concept of “digital gold” as physical will always be with us.
If they want to devalue whatever fiat they nominate, I will always have the anchor… the real stuff.
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Stopped out of SVM yesterday. Ill-advised coaster ride ultimately resulting in a face full of burrito sauce. Happily traded into the four horsemen of AAA corporate bonds to ride the potential upside in the equity while collecting a tasty dividend.
I’m going old school. Blue chippers with a fizz. Getting it done like my grandma did. El-fucko the beta dance.
Still a believer in the mud sifters. Somebody’s gotta make a buck digging up the physical loads.
Atttaacckkkk WWaaaaattttchhhhhh!!! – A parody of an Obama re-election site that itself looks like a parody. Welcome to bizarro world.
Finally:
“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” –French economist, statesman and author, Frederic Bastiat (1801-1850)
An obscure 300 hit vid, but frickin hilarious! Do you know the guy who made it or something?
I don’t. I was listening to the Dana Show this afternoon and she was playing exerts from it. Thought it was funny despite going on just a tad too long.
More than 300 now.. musta come out today.
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http://tinyurl.com/4228k43
Sports and politics usually don’t mix well, but this story is just too rich to ignore. According to a book about Sarah Palin that will be released on Sept. 20th the former Presidential candidate had an one night stand with hooper Glen Rice back in 1987, who at the time was a junior at the University Of Michigan. Here are some details:
The book written by investigative reporter Joe McGinniss, who rented a house next door to the Palin family as part of his research, says the former Vice President candidate had relations with Rice when he was a junior basketball player for the University of Michigan.
Rice, who led Michigan to a national championship in 1989, was in Alaska for a college basketball tournament and allegedly hooked up with Palin who was then a TV sports reporter. The book claims the tryst happened only nine months before Palin married her husband.
The book, entitled “Rogue: Searching for the RealSarah Palin,” claims she had a “fetish” for black men at the time, according to the Enquirer, citing a publishing source. The book won’t be available on store shelves until Sept. 20, but the Enquirer claims Rice confirmed the relationship to McGinniss.
Score for Glen Rice! Rice went on to have a successful NBA run and finished with career averages of 18.3 ppg, 4.4 rpg as well as being regarded as one of the best shooters in NBA history. Sarah Palin is, well, Sarah Palin. I always thought there was something about her anyway…
It’s amazing how much dirt comes out once people get famous. We wouldn’t classify this one as a skeleton in either Palin or Rice’s closet, but it sure is entertaining.
Can only wonder what the point of this story is. Like it is some kind of scandal for college kids to hook up? Laughable.
You need to get out more.
Maybe she’ll finally start getting the black vote?
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Might be! Either way, some clever photoshop kid will provide plenty of obscene chuckles in 5-4-3-2-…