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The above is satire, of course, but let’s not laugh too hard at the funny kiddies. In certain European states, the “path to success” is through the government bureaucracies. Is the U.S. approaching that level? Food for thought.
If you have not already, you should be trimming your silver and gold positions, or at least the leveraged ones. We’ve had nice move here, so let’s not get too greedy. I’m out of AGQ, NUGT and ERX as of this morning. I’ve also trimmed between 35-50% of the remainder of my largest positions.
Have a great Friday.
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Bonus Crony! This goes out to the speech stomping Jim H, (D- Croneyville).
Tribute to Mr. Mays….
[youtube:http://www.youtube.com/watch?v=jVrCKk45cZQ 450 300]
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Jake,
Love your work. do you think the recent moves in precious metals point to the beginning of a new bull run in the next couple of months?
i own GLD and SLV and have not booked any profits yet.
Yes, I think the SWHTF for the dollar this fall, probably as Bernanke tried to get the One re-elected, while destroying the long term viability of the economy.
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@jake – Any downside target on $GLD? As of a few minutes ago I’m long a put vertical in $GLD. Anything beneath 160.75 is max profit at expiration.
I try not to game the PM markets in this precise a manner, as when I get too cute, I usually lose. I think gold will probably pull back in the September time frame, but that’s about as far as I will take it…
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Hahaha that’s hilarious
Most move, Jake, since your last… never mind….
I dumped SLW today (bot 7/26) and SIL (bot same day) also… greed kills…
stick to the topic, sir… you’re far too easily distracted by political bullshit that goes back farther than all of us put together! It also detracts from your otherwise tarnished credibility.
no offense
Go screw yourself.
No offense.
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(If only the liberals ’round here would a) renounce citizenship or b) find a razor blade bleed themselves out of their miseries. I’m refraining from responding to a lot of the attacks I’m seeing here at you Jake, but know that you got friends over in the ring corner silently angered at the “hate”)
I’m just astounded at how many leftists would rather silence you than defend their (alleged?) ideals.
What the heck do they really believe? That any of their nonsense works? Any of it?
It’s frustrating, because I take for granted that I’m dealing with intelligent people. Maybe I’m overestimating.
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I tend to generalize that many of these temper tantrum grown-up-babies never had a dad in their home. So, when people who use reasoning and logic discuss adult, intellectual viewpoints that do not mesh with theirs, it’s pull out the mama trauma routine.
But that’s clearly a generalization.
I have had to deal with a number of trust funders who planted “a” tree on one or two tree days, and couldn’t give a hoot (pun) what the lumbering business’s deal with concerning tree hugger tactics.
It’s quite absurd.
What’s the saying, don’t attempt to save the drowning victim because they’ll only be sure to drown you first. It seems to apply in the 21st century America’s electorate.
I always open my ear when someone is ready to mature though. So, I’m not totally consistent.
I have, surprisingly, found plenty of good company with “Democrats” from the South who are aging baby boomers.
JAKE, from your mouth to gods ears. thanks for all your posts.
Jake do you feel in your marrow there is going to be a pull back to buy back in for miners and metals?
I booked some nice profits on NUGT and AGQ last week though im starting to think i could have just left it.
Jake,
Thanks again for all of your work. These currency wars are making it difficult to know where we are in any given cycle. In any case, I got out of the pms with a nice profit and am awaiting the outcome of Jackson Hole. So, I’m thinking if QE3 is announced, we can jump right back in and if not, we probably need to wait until late September to the middle of October to buy again. As an aside, I’ve been watching and debating your core position thesis for about two years now and I believe I am getting close to having the courage to do that at about 15% of port .. maybe with the next buy.
Just keep in mind, H50, that your circumstances and mine are a bit different… I am not retired and living off my investments… not yet at least!
😉
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AAU! final got my head above water on this one!
Makin’ my way back to you babe. With a burnin love inside.
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