I’m Very Disappointed

Cocktail Party Acts of Levitation Aside, You Suck

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… So this won’t be long.

My damn Junkees left 423 guys on base tonight, mostly because they just didn’t feel like running them very hard.  They weren’t very stellar in the field, either, despite being at home.

Oh yeah, and I really, really dislike A-Roid.

I don’t care how damn good he is in the regular season, the guy is a choker.  Plain and simple.  You gotta perform on the big stage, Gayroid, or you’re nothing to me.  Your 600 home runs mean so much cow shit.  Go screw.

You suck.

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There, that is that.   As for today, I’m disappointed about that too.

You see I tried to get cute.  I went and bot 10k shares of EXK and 8k shares of AG at middle of the day prices.   Then I doubled my order at a substantial discount to my market order.   I did the same for AVL.   I got zero AVL as a result and not filled on my second half of the other two.  I have a feeling that will cost me in the morning.

Meanwhile, I kept my QLD and the GDX and GDXJ that I bought yesterday.

That is all.   I leave you now, grumbling into the night.

Go (NY Football) Giants.

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Addenda:  I’m pretty damn disappointed in this guy too (hat tip to DGM) :

[youtube:http://www.youtube.com/watch?v=QfMjbS0oWrE 450 300]

(If you squint, he looks like Arod)

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[youtube:http://www.youtube.com/watch?v=D1R-jKKp3NA 450 300]

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Celebrate a great life, never mourn it.

A life valued, oddly perhaps at first, but valued.

A child welcomed, an adventure claimed, a pathway blazed.

All because a young mother made a choice.  A great one, that– it turns out– has benefited all humanity.

Almost ironic how a man like this can talk about “connecting the dots,” and “destiny” and “karma.”

A boy adopted.

Like Larry Ellison, John Lennon, Charles Dickens, Nelson Mandela… and many others...

56 years of precious, valuable and shared life.

Celebrate.

R.I.P. — and thanks, Steve Jobs.

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UPDATE:  I bot QLD (large), early yesterday and GDX and GDXJ (medium) right before the close last night.

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Not Ready for the Rubber Match, Obviously

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The good news is that we should get a really nice bounce here in the next couple of days, and perhaps as early as tomorrow morning. The bad news is that I think we’ll very likely drop another 50 points on the S&P, and may drop as much as 90-150 before we get that rebound.

Here’s what I’m looking for on the $SPX — the only index that really matters here, although one could make a case for shorting the Cubes (QQQ) tomorrow morning as well, as it has yet to drop like it’s brethren.  I think that it’s very likely we get a quick broken elevator tomorrow to 1050, minimum.   If momentum really picks up, it might even drop as much as 90 to the second (red) line here:

 

 

And yes, even 950 is a possibility here, if the momentum gets all ragey to the point of the Friday employment numbers.  I really don’t expect that however, as we are egregiously oversold here.   I will be loosing my SKF, TZA and ERY to the trade winds as we visit these levels.  I may keep a base of the Skiffles, however.

Another reason I see the downspike continuing is that the dollar doesn’t seem to be done here, after busting through that resistance at $79 on the index.   I think the next target is the 50% retracement here:

 

Important to realize here, on this dollar index, however, is that price is finally through the 200 week EMA again, and we have the 13-week EMA finally crossing back over the 34-week EMA, with both on the upswing.   This is not good news for either the market or our precious metal friends, girls and boys.

Get your helmet.  Get two helmets and sit on one.   Protects against land mines.

Best to you, and take good care.

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I am sorry if you were unceremoniously dipped in pineapple sauce and then stuffed into the cherry smoker today, ending up braised to a fine turn.

It’s not like I didn’t give you ample warning.  In fact, that warning was even more ample today in The PPT, where I announced I was adding to my growing stacks of SKF, TZA and ERY certificates. 

Those certificates, and their already in-place comrades, yielded substantial gains for me and mine this day.  And I’m pretty sure they are not done, as of yet.   In fact, given some of the panicked calls I received from friends today, I think tomorrow should be a pretty interesting open. 

If you haven’t gone short anything, it’s probably a little late to start right now.  I’ll have more on that with some charts tonight.  In the meantime, enjoy this Indian Summer we are having in God’s Country, and try not to get too upset about the wayward state of the economy.

Help is on the way.  My best to you.

Addenda:  as it seems Le Monsieur has grown tired of most of you over at his site.  Please let the man rest.  In the meantime, do feel free to vent your concerns and comments on my fora. 

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Rare Photo of Mr. Bilderberg’s Dog, Barbarossa!
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I’ve cut back once again to about a 25% position in my silver and gold positions.   This is merely a precaution, as the clouds looming seem ready to ram us down the throat of an all encompassing Deflationary Fat Man.

I also want to have some cash on hand for anticipated lower prices, especially in the miners.   We’ve been down this road enough times in the past ten years to see some of our favorite names go to “poleaxe pricing” — that state of irrational selling likened to a shareholder being bashed hard enough on his melon that all opposable thumb functions disappear, and share certificates cascade to the floor willy nilly.   We want to be there to pick those newly discarded certificates so as to be better able to offer them back to aforesaid bashees at prices significantly premium to their current ones.

I also added more TZA and SKF yesterday, and — in the spirit of true deflationism — added almost as large a position in the oil double neg, ERY.   I am now pretty massively short, on a dollar basis and on a “relative dollar” basis, especially, as all of these positions are leveraged shorts (either 2x or 3x short ETF’s).

I will likely maintain the SKF as I have been, and leave it largely alone.  With the TZA and ERY I will probably be more opportunistic, trading in and out as warranted. 

Any changes in this philosophy — and I may change radically tomorrow, such is the nature of a volatile bear market — I will communicate immediately, although actual trades will be announced in The PPT first.   I don’t pound the drum on that valuable service enough, but now is a very crucial time to be participating, not only for what the “better than the average bear” traders are saying in there, but for what they are NOT saying as well.

Best to you all.

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Fast Winning a Place in Jake’s Heart

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…And bloody and exhausted.  I just did a lot of driving on some client work and it’s been a rough couple of days. The meetings were far afield and I had to sleep in a Brady Bunch-era Courtyard by Marriott last night. The hotel clark (sic) looked like he could have been the Crypt Keeper’s younger brother, sans the warm and vivacious personality.

What’s more on the way back I passed the time rocking to a zillion 30 year old Sirius satellite tunes (First Wave with the Swedish Eagle) while trying to peruse the various iBC posts of interest on my B’berry. I know, “safe as houses” right?

Not so safe, however, when you come across the post remarking how French population call Le Monsieur “L’Envincible Le Fly.”
I almost rolled into a passing semi after I’d seen that one.

Anyway, my “all day business” today forced me to put a stop on my AGQ position early this morning. To my chagrin, that stop was hit.  Now I’ll never be able to introduce my children and grandchildren to my horde of “double stuff” silver paper.  Ah well, comme ce, comme sa.

I have stops in on other mining positions as well, but only NGD’s was hit today.    Last, I doubled the size of the TZA position I put on last night and added another 2k of Skiffles to my horde.   Both positions were up huge today, as you might imagine.   I wish I could say the same for my remaining benighted silver and gold miners.

Tomorrow I’ll be back in and better able to monitor the situation, but make no mistake, I am increasingly bearish here…  That should be good for a nice counter rally about 11:00 am tomorrow.   Stay tuned,  and don’t hock your hoop earrings and tongue bolts just yet.

Best to you.

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