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Aw geez, I just had an extremely clever and full of info blog post to make up for my long absence. In it, I went over the weather conundrum, my summer exploits, the state of our miserable economy as guided by the clown show in Washington, etc. etc.
But like a dumbass, when I went to insert my graphic, I inadvertently went “away” from the site and lost the whole fucking caboose. Goshdamnitalltohell. Fuck me.
My apologies, I’ll try to summarize.
One, I’ve been buying NUGT for five weeks to various painful degrees of success.
Two, the 120-month exponential moving average on the dollar ($USD for you Stockcharts buds) was breached for the first time in a decade in late 2002, leading to our glorious metals revolution. Since then, the dollar has bumped but not pierced that line on a monthly basis FOUR TIMES since that initial drop, all of those time led to sad days upon the ascending attempt (the saddest effort ending the first time in February of 2009) and happy, glorious days upon the subsequent failures (remember March 2009 friends?), at least for we PM fans.
Three, the last attempt lasted THREE PLUS MONTHS, from March to June. We are now enjoying another rapid descent. If we turn back up again here, on the dollar, I can probably tell you the PM bull is dead. If not, we are headed to Nirvana once again, sans the blown out brains of the lead singer, etc.
Here’s the thing, don’t buy NUGT tomorrow, as it will probably pull back on a test of $1350. However, if we breach that level like “butter” with no pullback, be prepared to get aggressive. In the meantime, we might get a present from SLW‘s “miss” tonight. AG, EXK and SLW are nascent monsters once again.
All that said, you should also have TBT, as the bonds are beginning their own slow motion train wreck, courtesy of the Bernanke-Obama Hubris Nexus.
Be well. I appreciate you all.
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The post should still be there. Double check your dashboard. They typically autosave.
Yeah, for some reason it had not, unfortunately. I may have just written it too fast.
Damn I hate when that happens… gotta get back in the groove…
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Welcome back again, Senator. Seems to be a regular greeting the last few months. Good to hear a all is not well in la la land report. Was starting to believe this admin was a magical unicorn and free healthcare for all was the silver bullet to all societies ills for ever and ever with a pot of ebt’s for the chaser.
The Shit is going to hit the fan so hard for this clown show that the Abetting Media is going to rue the day they decided to stroll down the “Sweep it Under the Rug” avenue.
Brings to mind that book that came out about a decade ago about how the German people were complacent — and probably complicit — during the rise of the Third Reich.
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either way, they crash the dollar right around end of sept.,end of oct. i’m surprised they haven’t”conditioned” everyone through the media that we may not have reserve status anymore.this shit storm has no resolution. if you dont hold phyzz in your hand,you hold nothing………..oh,i forgot,still asshole deep in exk……:)
Oops, just saw you posted a blog so disregard my post over on Le Fly’s column re: TBT…
Not sure if it was you, but someone’s query prompted me to post last night…
TBT is a must have here, I think.
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Ha… we had all of about five minutes this morning to catch SLW underneath yesterday’s close….
I would say that’s a pretty strong indication that silver is building a momentum all of its own…
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Jakes back. Let the party begin!!
Jake,
Question: Would you add on strength if we don’t get a pull back in the next couple of days or just wait until the next DCL. I’m at 60% now.
I would wait at least for a retest of that $1350 break. No rush here.
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worth swinging / holding the NUGT here then or take todays gain?
I sold the September $9-strike calls on half my NUGT position with about two minutes to close.
Got $2, so we’ll see what’s what. Might take a quick profit tomorrow or Monday.
I actually sold the rest of my ABX,GDX,GDXJ this PM which I accumulated 2-4 weeks ago on their “down days.”
They really had a nice liftoff I am guessing around 12:00 or so.
Not sure because I was visiting my hernia surgeon (follow up to surgery 10 days ago).
I guess they took off about the time I dropped my pants and the Doc said turn to the left and cough.
Don’t know if that was the reason why they moved but if it helps I’ll be glad to drop my pants tomorrow.
Keep em down and tell Nurse Ratchet to fetch the strap on.
That said, I wouldn’t mind a nice pullback so I can “harvest” my sold calls.
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Buying SWY; long the food stamp trade.
Jake. More. PLEAse.
Already up 40 cent (20%) on those NUGT calls I sold.
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http://youtu.be/KkDhHfN9YvU JUST FOR YOU JAKE,
that was all over zh yestadey. that trader prolly never heard of Provident metals.in 8 weeks time i have received about 6 shipments of pm’s they have just about anything you want,they dont play around.and turn around time,from order to delivery is sweeeeet,and fast.i couldn’t think of any other place i would trust.i ordered 10 onces of a specialty coin,a day after ordering,it was sent out.will have by,or before wednesday.
here’s a kick in the pants.my exk was up yestadey 66.60,no bull shit.
Hope your summer has been grande (sic), Jake.
All the best.
Guys, did you see this:
http://uk.reuters.com/article/2013/08/19/uk-gold-uk-exports-macquarie-idUKBRE97I0PQ20130819
The ‘paper’ gold market is under a lot of strain, so make sure you have physical gold, no ETFs, bits of gold that you own that you can identify are yours, in a vault or close to hand.
I’m not expecting this to resolve for a few years, but if we woke up tomorrow to a ‘market closed’ notice from the LBMA, I wouldn’t be at all surprised. Then watch what happens…..!!
(Silver will not go along for the ride when that day comes, sorry, but best you know).
silver WILL go along for the ride.thats your first mistake in not understanding REAL money/coinage.sorry it’s best you know also.
Time will prove all things, good luck.
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Think about your options before you ask, yes, I’ve seen since
The Wire. A big screen TV was removed from the Primetime Emmy Award nominations
Thursday. Aside from keeping out trespassers and delinquents from your parking spot to the year 1930.
He showed willing by increasing his payments to 100 monthly.
jake,jake,jake.marco, where is you
nugt kickin it today.dude
hunnerd dollah rollllll