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You are skyying about in your chromium zeppelin, dropping empty champagne bottles from 1,500 meters onto the heads of unsuspecting proles below.  You glance across the quarterdeck and there is your love, half a glass of Dom in her silk gloved hand and the light of Christmas in her eyes.  The finest plum-rose gloss  adorns her full, beestung lips, which are parted ever so slightly in a laughter that  sets her page boy curls dancing in the silver streaked moonlight.

You haven’t a care in the world.   You’ve made millions off the sins of The Bernank, Slayer of the Little Man.  What’s more, the largest part of your fortune is stored in bullion bricks of various heavy metal denominations, lodged safely in your Rocky Mountain fastness.

But some latent foreboding nags– ever so gently — even as you pop the next cork on the desert-dry bubbly, sending that mushroom cap deep out into the lowering cumulus…  You know now that the small plebs, the racers, the gimcracks, the punters who have swelled your gains are finally beginning to pay tribute to your cosseted hordes.  No longer are they satisfied with the quick buck of the latest Sanford Bernstein-driven consumer good craze, or the lures of the Autumn Needham Tech Conference.

No, they now make claim on the Precious, and it’s time to grip the gunwales and be ever so wary.  Behold the gathering storm which will afford us opportunity, if played ever so skillfully, like a minuet for harpsichord, parsed out on a tight-rope.   First, a lesser known blazer, FRG, serves to illustrates our existential dilemma:

This overbought condition is endemic in our chosen sector, fellow aviators.   Note another favourite which perhaps has become too much so in recent weeks:

  EXK will continue to provide gains, I’m convinced of it.  It may even get to $8.00 before 2010 has breathed its last.   I also believe it will retrench rather severely, however, andf quite possibly as far as my target of $6.00.   

 As a result I have taken almost half of my holdings off the table at prices between $6.90 and today’s close ($7.30).  If you have been with me from the low $3 range,  your over 100% gains should be suitable for framing right now.  The choice, however is yours.

I shall see you all across the scudding skies.

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In certain Northern Mid-Western climes, the citizens have become so mushily liberal that — in their overwhelming compassion –they have confined their hapless professional football teams to a regulated indoor environment.

As a result, no one in these left-leaning regions need suffer for their gridiron art in the fashion of Lombardi, Hornung, Robestelli, and other Hall of Fame stalwarts of the past.   Come game time, both players and fans can loll about at room temperature, consuming multiple jumbo franks and 64 oz. Mountain Dews without fear of nippy nose or chilly tootsies.   

Real tough guy stuff, no?    You’ll find it no wonder, then, that these teams haven’t won a Superbowl in… well…

Forever.

I bring this up in order to levy well deserved shit to Chief Admin Jeremiah and his wussified, faggot-assed (not that there’s anything wrong with that) Minneapolis Metrodome Vikings.

I mean, if you are going to be pussified about going to see a game in the weather — despite your arguably holding a home field competitive advantage (see “Packers, Green Bay“) —  then by all means build youself a cozy indoor stadium so you can spare yourself the chilblains on your vanilla layers of Midwest portly.   

But do us all a favor, eh, Minnesota?  Please get yourselves some architectural engineers that will factor in the possibility of snow accumulating on the roof, eh?  You know, just in case it gets warm enough to do so every now and then?

Thanks so much.   Your friends,

The N.Y. Giant Fans With Three Superbowl Trophies and, Not Coincidentally, an Open Air Stadium

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It looks as if The Bernank (sic) and his antics will continue on, at least for the beginning of options week here.   Like a good neighbor, I will be reducing my positions again, trimming here, trimming there and braiding the remains for a nice Christmas streudel rope to be given out to wassailers and other visiting Folk o’ the Yule.

I will probably get rid of the last remnants of my IAG calls, which have been less than satisfactory these last few weeks.  I will likely retain the underlying stock, however, and only be trimming my outsize positions (ANV, SLW, EXK, GDX) to raise some cash for the new millenium, where the chief currency will be penny farthings made up of plastic doll’s buttons.

Again, this is not the long term strategy, and I will not be taking down my core, only my oversized accumulations, which have done so well since September especially.  More tomorrow, if I can get out of my driveway.

Best to you all.  And keep an eye on BIOS and ENTR.   These old stalwarts seem to be making a move again, as do non metal Jacksonians ANDE , TCK and TC.

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We’ve come to another time in the cycle where I must again beg your forgiveness for my absences.  This is just not  a great time of year for me to be doing any blogging.  This is a time for closing, and little else.

And as you know, “Cawfee is for closers.”   There’s a logical reason for that.   It’s that it’s a standard remedy for sleep deprivation.

I’ve got a 7:00 meeting tomorrow morning and I am not what you would call a “lark.”   In fact, I’m rather the wisest of owls.   I believe I shall sleep for 24 hours this weekend, if left unmolested (unlikely).

I submit this pre-amble in way of saying  that I’ve done little with the port these last few days.  I’m down to my last shares of AGQ, and I’ve sold some EXK, but that’s been about it.   I think tomorrow I may even sell some SLW, if the creek continues to rise in the PM sector. 

Tomorrow should tell us if the dollar is going to rally or continue down.  I imagine the break down will be severe should it come.   If not, then it’ far more likely the dollar will rally for a while.

Don’t follow me, as I’m sleep walking, but I will be announcing any other moves in The PPT tomorrow, as they happen.

Best of Morpheus’s Dreams to you, my peoples.

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For now, at least.    It looks the dollar has bottomed for now, and as a result, I will likely be dumping the rest of my AGQ tomorrow.  I will also continue to sell down my overweight positions in EXK, SLW and yes, GSS (which I am overweight for stupid reasons).  Some ANV will go, as well as some IAG and EGO too.  Not a tonne, but I will be raising cashe (sic) munny (sic).

I will also likely sell some other things tomorrow which look overbought despite their not being in the precious metal category.  I shall tell the good gentlepeople of The PPT about that before I make those moves known here in Pikerdome.

What won’t I be selling?   That I will let you know… lucky dogges.   I will not be selling any UPS.

I will not be selling any UL.

I will not be selling any MON.

And I will NOT be selling any TBT.    In fact, I may even add to the latter.

Best to you all, and Merry Kwaanza, Fonzies.

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[youtube:http://www.youtube.com/watch?v=FR5MweSZjbc&NR=1 450 300]

(Great Mash-up… dig the Vuvezelas, too!)

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Oh that’s just excellent.   The Republicans win the biggest House sweep since the Coolidge Era (63 seats) and then go full Barney Frank belly up to the Messiah on the Great Tax Cut Showdown.

Sure, they kept the Bush 2003 Tax Cuts…

For two whole years!   Someone with an economic brain in their head please tell me… what does that do exactly?   How in the heck do these morons in Congress expect anyone in honest business to plan for anything with the Tax Sword of Damocles hanging over their head again for another two years?   

It’s the Uncertainty, idiots!   I think I shall propose an Amendment to the Constitution that might save us all heartache…. I will propose that every Congresscritter get at least 10 hours in university-level economics, with Econ 101 being mandatory in the syllabus.  

And what’s the icing on the cake?  

No, no… I mean besides Obama getting another chance to spout his tele-prompted class warfare inanities over and over (he is SO tedious) to the increasingly skeptical (and sparse) television audience…

No, the icing is this 13-months (yes, MONTHS!) of additional unemployment bennies agreed to by the spaghetti noodle “GOP Leadership” along with this useless extension.    Yeah, that oughtta REALLY help knock down the unemployment rate.   Just like it’s done in Europe, the original mother land of the Permanant 10% Loafing Community.

Hey, who cares, right?   The other 90% of the working stiff community will pay for it, right?   And hey, think of the incentive all those business owners have to try to entice those toadsuckers off the dole with their TWO WHOLE YEARS of low capital gains rates!  

Seriously, it’s days like this that could drive a sensible citizen — one who believes in the true and original precepts of this country — to bleak despair.

And please, fellow conservatives, don’t come back to me with the following trope: “This will be great for the Republicans!  Now we KNOW unemployment will be 12% in 2012, and we can GUARANTEE Barack is done and gone!”

Sorry, Homey don’t play that schist.   I am a citizen of this beautiful country first and foremost, and if my party’s leaders are playing this two year collapse as a gaming strategy, then in my book they are as DONE as Nancy Pelosi and the rest of the useless sods in Congress.

Six weeks after the election and already I’m getting my firehouse out.   Time to ream out the Augean Stables once again!

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All of the above will only continue to crucify the dollar on a cross of paper mache, but that is little solace to me.   I sold some EXK today and more of my AGQ, but left everything else be.   I will likely continue to trim tomorrow, for reasons mentioned on Sunday night.

All of these moves are temporary, and completed in order to raise cash for reinvestment after an expected pullback in the soon to be vastly popular PM markets.

My heart aches.

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A Metaphor, of Sorts…

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Let that header sink in for a minute.   Then read this piece from the Indians.   They’re buying gold too.

This week can bring us a near term peak, and I don’t want you to panic in either direction.  I don’t want you to go insane buying gold and silver you don’t already have next week, as I believe we are perilously close to a dollar bottom.

This evening, we are also very close to $30 an ounce on silver, and we just broke $1,400 an ounce on gold.   These are significant levels that should not be tossed aside on a near term basis.   I think we will burst past these levels, but only temporarily, and then we will retrench.

But don’t get me wrong on the ultimate course here.   The Chinese are buying gold.   And they will buy silver.  And they will buy platinum, too.  And in the process of this accumulation, I posit they will make BIDU look like some bland utility stock before this is all over.

However, I don’t want you all getting off on the wrong foot–  especially since Le Magistrate has given you all the green light on silver surger EXK.   Now is the time to be wary as we are reaching overbought levels on multiple fronts.   There will be a time to gorge oneself on silver miners, but now is the time to sip… sip… sip. 

Like a butterfly at a nectar font, you must sip.    And keep in mind the auto accidents, eh?

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