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What are you doing moping about as if the moon has hit your eye like a big pizza pie? That’s only ammonia (anhydrous), and don’t take big breaths if it’s making your eyes water.
Italian bonds made everyone in the market sad, and yet I chalked up another win in my real life. This is getting kind of ridiculous and I’m beginning to see visions of fat smiling men wearing fezzes and carrying sharp harem scimitars from lack of sleep. I could have the best year of my life and my wife could be spending it (and the insurance proceeds) with her new boyfriend on the Riviera this time next year.
And during all that chaos today the market was melting down. At first my golds and even silvers hung tough, but then even they succumbed to the great vortex that if forming over the gladiator cages of the Coliseum in Rome. Sylvio Berlusconi was the first round heeled slick bastard to get sucked into that vortex, but for all I know there’ll be prominent members of the Vatican entering it next, only to find themselves ended up in some alternate universe heaven or maybe an independent book store in Dubuque.
Tonight I thought the Herminator acquitted himself well, getting off a couple of good zingers on the Dem party faithful like Chris Dodd, Barney Frank and Nancy “Princess” Pelosi. Rick Perry’s Gaffemasters Speaking Tour continues to everyone’s great chagrin. Mittster continues to disappoint with his pandering bullshit about a tax cut “for the middle class.” WTF does that even mean, Mitt? What is “the middle class” and aren’t “targeted tax cuts” an instrument of Democrat policy? Get with the program or you’ll never get the nomination.
Newt Gingrich was clever, but looked like some kind of giant marionette up there on stage. Could’ve been the lighting. Rick Santorum looked like hell and geez! Whine much? Huntsman was equally unimpressive although he did try to make some good points on tax policy that were “acceptable.” Michele Bachmann… I hate to be sexist but she’s pretty damn cute, and just as Stepford-ish as you can hope for. Policy wise? Meh.
I was busy today and did nothing at the site but watch the Monsieur buy some RGLD. I looked at some SLW at the end of the day as well but got called into a meeting before I could do anything. I do like that it’s coming down on it’s 200 day EMA. I think it will bounce there, at $34.70, and that’s where I may be adding.
Besides those two, NGD and AUY held pretty strong relative to their peers. Look to them tomorrow for a first bounce.
Hang in there, we are oversold like few times I’ve seen, and I think we rebound tomorrow, but maybe not until late morning.
Best to you all.
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I was looking at SLW, ABX, & FCX today but I was too busy to figure out any trades. I recorded the debates and look forward to seeing it when I get home this weekend. Do you like SLW at these prices?
Third para from the bottom. I like it at the 200 day EMA — 34.70.
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Thanks! Always appreciated. Trying to be cement head here.
Are you expecting more of a drop in Rgld tmrw?
You are just fecking with me now, aren’t you?
To the 200 day EMA.
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LMAO
Just as Stepford – ish as you could hope for. Classic.
Been a very quiet first hour .
It is “phuck , fight , or hold the light ”
time for the ECB . Print like hell or fracture the EURO .
Sooner or later the markets focus on the USA
and when our bond market goes European the
move in gold will be spectacular .
When ? Well , as this day unfolds I’ll be hawking the quaterly option chain for GLD .
185~187 is a layup by Dec . 31 .
Speaking of layups , the 2011-2012 baskeball
season will be in full swing tomorrow evening .
College or pro?
I’m not much of a pro fan.
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thanks Jake, by the way I am reading that book on the coffee guy that you mentioned in the summer !
Memoirs from an Ant Proof Case?
Helprin is some writer, no?
After you read that, you have to get his A Winter’s Tale.
Somewhat Gabriel Garcia Marquez-ish, but good.
Real good.
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yes, Jake, memoirs, thanks !
geez, no mention of RPaul, again .. yeah yeah, supposedly unelectable .. a bit old, but so what … other than that, I agree with your assessments, for a change
He needs to learn how to wear his fucking jacket for a national televised debate. It’s like he revels in his battiness.
And I say that only because he said a number of good things.
It’s too bad he looks like your crazy uncle. I like how he tried to help Mr. Forgetful. Geez, whatta disaster Perry has become.
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Thanks for the post, Jake! Learning to be a Cement Head here as well:)
LOL! You nailed Newt. He does look like a fucking marionette.
I think it’s because he’s lost weight recently, which accentuates his jowl lines to a degree that his jaw now looks hinged.
And he should fire his Pinocchio-loving make up person as well.
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I don’t get it. Paul is about as Republican as they come, and yet he gets zero love from anyone. Out of all of them, he strikes me as the only decent and honest guy up there.
He’s not “Republican,” he’s libertarian. He doesn’t believe in policing the free trade lanes and has a naive view of the global economy. He thinks that if we step off the global stage nothing will happen to the global economy and that’s just nonsense.
And his “end the Fed” idea looks good on paper, but in practice would decimate the national economy. I do agree, however, that the Fed should not be setting (or “targetting”) interest rates and their should be a better auction process that makes it more market oriented.
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Yea, a lot of his policies would have disasterous effects in the short-term. No doubt. I’m not sure, however if he is really as naive as you think. He seems to be speaking more in generalities and long term than pandering, which is what I like most about him. He fully admits that he considers the current system a complete failure, and outlines what has to be done to set us back on track. At least that is how it comes across to me.
As I’ve said, a lot of what he says is correct and would be helpful.
Unfortunately he’s got a couple of too crazy themes that are not going to gain him traction anywhere but the fringes.
He needs his son to take over in the PR dept.
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Good points, good points.
Maybe Rand will run one day.
For Prez?
I wouldn’t doubt it.
I hope he runs for Governor of KY first… I don’t like the move from the Senate approach.
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Yea, Prez.
Gov. of KY? I was under the assumption that KY was legally prohibited from electing anyone other than a Democrat for Gov?
😉
No, you just have to run someone who is not a RINO.
They love Rand down here.
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The big government establishment will get what it wants which is Romney. Too much money. Too much corruption. Too much influence. Better than Obama but it will resume the status quo. The only ones that would be a true change is Paul, Santorum or Bachmann, maybe Cain. It will never happen.
The herd is too afraid of liberty and prefers the government to take care of them from cradle to grave. Too many entities from banks, Wall Street, tax payers, big business, desire government welfare and/or back stop.
I almost puked when Romney started talking about “the middle class” last night.
He might as well be Hillary Clinton, IMO.
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I am becoming a Gingrich convert. He may not look right but so effing what. He is by far the smartest guy in the room. He has impeccable understanding of the issues. Did you hear his answer about the student loans? Possibly the best answer of any question since the debates began.
I have never had a moment where I glazed over as he explained himself. He is not a robot. He gives a straight answer. I understand him. I go out of my way to find out when he is speaking. I will get a history lesson and a clear understanding of the issues.
It’s either Gingrich or Romney. Either is better than Obama. But when I am given a choice it will be anybody other than Romney (or his brother Huntsman).
Grinch has baggage that makes Jacob Marley’s chains & chests look like a rapper’s hollow chain bling.
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So who do you like best at this point?
Still Cain.
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Yes the Grinch has baggage but his knowledge on the issues are superior to others. Clinton had baggage and even more baggage added when he was in the WH. Nobody cared anymore. As long as he rights the ship, he could live like Donald Trump. Clinton reduced the concept of the Presidency for the occupant to live like a mercenary. We don’t care about his private life anymore…as long as he knows his stuff and can manage the country. Depressing thought. Would YOU care what your broker did in his/her personal as long as s/he made money for you legally?
I don’t get the love for Cain. The more I hear him talk the less I like him.
Chris Christie jumped out the way of an oncoming freight by deciding not to run. I think he saw the shit storm and bowed out gracefully. I am on the fence if that means I respect him more or less. I get conserving his own personal happiness but at the same time I think he had a chance to make a big difference for the greater good.
I got friggin demolished today with SSRI. Down 20%. It was my fault though, I wasn’t paying attention to when their earnings were. I would have sold out prior to earnings and avoided this.
Never Again!
Diversification … I had it too… just not a lot.
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Check out the below link… It’s a great article exposing the fallacy of “targeted tax cut” theories, of which neither the Reps nor Dems seem to understand.
http://mises.org/daily/5791/The-New-Confusion-about-Taxes
Reps don’t recommend “targeted tax cuts” — not real ones at least.
We believe that Congress cannot decide where the money is best spent… it’s best left to the citizen to spend his own money.
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You know when i see the candidates i wonder is this the best that America can offer? It sort of reminds me of those Apprentice series. All the really really good people are not on the show. They are out busy doing other things.