You See Kid, It’s All About the Proper ‘Stache
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Well, the J-E-T-S, Jets, Jets, Jets lost… and many a friend, relative and associate is in mourning tonight.  I can almost feel their pain.  It’s tough to get so close to the Superbowl and then lose in a disjointed effort like that.  But the Jets should take heart, as they’ve a team to build on.   As well, the Steelers have indubitably the best defense in the league, and perhaps the best coach.  

 And let’s face it,  for the Jets to win a third playoff game on the road would be considered by some to be a near miracle.

I say “near,” because of course my own beloved Giants have performed that 3-Road Game Playoff Win feat, and topped even that by beating “the Unbeatable” New England Patriots.  You remember the Giselle Bundchen-related Patriots?  The team who had gone unbeaten in every game in the 2007 season…

Except the one that counted, I mean.  Heh.

No matter, the industrious Steelers pulled off the same carny trick the year after, albeit against a far inferior opponent.  Nevertheless, Mike Tomlin is great, Ben Roethlisberger is a loathesome pig, “Go Packers!”  and let’s move on…

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You want to know what I think the dollar is doing here?  I think it’s getting ready to rumble.  It’s been drip-sell, drip-sell, drip-sell for weeks now, and yet gold and silver have been pedaling in air, rather than soaring.   That means gold and silver, in their heavy, shiny brains know something.   This is what I think they know:

We might get a scrape below $78.00, but I think that’ll be the dog and the frog.  You’ll know the dollar is done diving because the market will crack like a ten week old egg left over from a third grade science project.  It’ll be smelly.  Are you prepared?

Everyone is asking me when I’m going to buy you-name-it– SLW, EXK, GDX, ANV, EGO etc., etc. 

Listen to me when I tell you that when its time to buy these things again, you will NOT want to do so.  Hear me?  Stop being so damn anxious and go have a clove cigarette and a warm paraffin foot bath or something.

In the meantime, here’s where I see EXK, you greedy little pigs, you:

Now remember that’s a weekly chart up there, so things will move slower than we’re used to seeing on the daily, and that distance to the buy is a site farther than it looks.  It might be three or four weeks from now.  So chill.

And here’s a bonus for you dynamite-strapped rocketeers out there.   If you try this, play it small because it’s wilder than boar hog afflicted with a case of cannibal crabs.  You see how much it was up on Friday?  Well don’t believe it.  This suckers going down just like it did last time.  Here’s my take:

That’s all for now.  Play tight and play defense this week.

Good luck to the Green Bay Packers, a real “good guy” team.  I might even root for Pittsburgh, but then, I have a daughter, soooo … no.

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I’ve got an extremely busy week ahead of me, so while I will attempt to log in as much as I can, I don’t expect I shall be my usual garrulous self.   I’m traveling out to Southern Bustopia on the West Coast, and I hope to be safely wheels down before the airport bonds go teats up, and the baggage handlers start throwing Molatav cocktails at the TSA while storming the control tower.

I expect I may end up having to be Hummer’d out — a la “Mad Max: The Road Warrior” — so I’ll be bringing several ingots of .999 silver to pay for the petrol and extra ammunition.

As far as that goes, this week may be a good week to trade some silver in for consumer goods like eye black and B.A.R. rounds, if you are so inclined.  A nice plow and a brace of oxen wouldn’t hurt to hold in reserve either, if you’re agriculturally minded.   You see, with regard to precious metals, I think we may see a dollar respite here, so I sold another 10k of EXK on Friday, bringing my position down to about 30% of my original peak.

I also divested myself of some IAG, some GSS, some CDE, a touch more SLW,  half of my PAAS, and about 30% of my ANV, with the remainder of those both being hedged, along with hedging most of the rest of the portfolio I didn’t choose to sell.   I now have egregious amounts of cash with which to buy what I believe will be a forthcoming dip in the precious markets that I believe we’ve been holding out for since early December.

I may be wrong, and if I am the first thing I will be purchasing is AGQ.   I will certainly let you know.

God bless you all, this night and always.

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Sorry Florida fans, we’ve got your “Urban Meyer Magic” right here in the Lou, and he’s not going anywhere.

(At least not this year)

No, seriously, though… do you think it’s a coincidence that The University of Florida, with the best recruiting classes over the last ten plus years, bar none, sucked balls this year without Defensive Coordinator Charlie Strong?  

And do you believe it a coincidence that Florida head coach Urban Meyer has decided to resign again this year, and flee back to the bosom of his family and “good health?”  C’mon.

I happen to think it’s no coincidence, especially as Charlie Strong has managed to not only make the Cards bowl eligible in his first year as head coach (after 27 years as an assistant at various racist SEC-Conference schools), but also to win their first bowl since winning the 2007 Orange Bowl four years ago (with former, now Arkansas coach Bobby Petrino), 31-28 over Southern Mississippi.

Okay, so it was the Beef O’ Brannigans Beer & Cheesenutz and Light Draft Bowl, but you have to start somewhere right?  And that “Florida Magic” —  which really stemmed from Charlie’s ability to recruit fine young men from Florida –has already begun to bear fruit.  Note this week’s news — as Louisville has landed it’s first five star recruit, Teddy Bridgewater of Northern Miami, since hometown boy RB Michael Bush (now with the Raiders), signed seven years ago.   Here’s the skinny:

Miami Northwestern quarterback Teddy Bridgewater, a five-star recruit who is widely considered to be one of the best dual threat quarterback prospects in the county, announced his commitment to coach Charlie Strong and the Louisville Cardinals earlier today. Bridgewater, a one-time Miami commit who reopened his options after Shannon’s termination, made it clear that the chance to get on the field early was the biggest factor in his decision.

 

That’s right, they stole this guy from “The U” — Miami University — his own hometown school.  Now that’s strong… that’s Charlie Strong.   Looking forward to watching my Cards continue to kick ass until the SEC steals Charlie back, swallowing crow on their 27 year mistake.  I fear will ultimately be our porridge, and am resigned to it.

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Speaking of “resigned to our porridge,” I am ultimately resigned to a pullback here, and have begun hedging my large PM positions with sold “in the money” calls on my largest pieces.

I sold 80 $34 strike February calls for SLW today, for example.   I also have written call orders in for EXK, ANV, IAG and several others that have yet to fill.  I also sold 10k shares of GSS today at $4.79, which was 45% of my position.  

I plan to keep on with these moves as we go to year end.  I am writing calls because I’ve already taken egregious gains this year, and would like to defer any additional taxable gains into next year.  Also, I would like to maintain my “core position” in many PM positions despite my inclinations toward lower prices in the near term.  Silver, however is looking like it will pull back in dreadful fashion.   Be apprised.

One other thing, I must take the opportunity to brag on my “rare earth metals” position in AVARF, which I will likely trim by 30 to 50% tomorrow.  After holding for about a month, that sucker took off today with a newly announced AMEX listing.  Sometimes it’s as simple as that.

Best to you all, my gente.

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[youtube:http://www.youtube.com/watch?v=P3QYLJ8zH5E&feature=related 450 300]

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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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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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 Many of you may know of Hannukha Harry from his comic forays on the old Saturday Night Live.  Well, a similar number of you may not realize that Harry– in true legend– actually wore a formal stove-pipe hat (see above) when doling out socks and toothbrushes and other sensible gifts to the good Jewish chillens over the eight nights of Hannukha. 

I can confirm this, as I saw Harry himself with mine own goyum eyes coming through the garage door entrance (sensibly) of my friend Benjamin Zimmerman’s house one early December evening in sixth grade, when I’d stayed over — at his parents’ invitation– on the third night of the Festival of Lights.  

It was 7:30 and we’d just laid out the traditional borscht and bagels after Jeopardy, when we saw his trademark stovepipe peeking through the door.    Hannukha Harry only comes at sensible times, as he needs to be in bed before ten.   None of this fakakta post-midnight chimney drop-ins for him, he told us.   That, he explained, is for the meshugganah Sinter Klaus — a distant relative and definitely not glatt kosher. 

One of the gifts Harry bestowed upon us that night was The Tale of Sound Money.  Sure, he was easy with the gelt, but aside from the traditional chocolate coins, he told us never to trust a fully fiat currency system, as it would always let us down.   At the time, he told us, the U.S. dollar had devalued from it’s 1913 (pre-Federal Reserve) value by almost 87% (it’s now closer to 95%), and much of that drop was achieved in the decade since Richard Nixon had given up on gold convertability altogether in the 1971 Bretton Woods abdication.   

Harry told us it was only a matter of time before politicians and their allies in the central banks got so greedy that they’d wreck a fiat currency system designed — with the best of intentions — to promote sound economic trade.   There was just too much conflict of interest for any one central bank or sponsor country to trust another, and worse was that temptation more for the “currency of record”  that was held as the “reserve” in a fake money system. 

No, only an anchored “no cheater” metric could ensure a balance of trade that would not bankrupt the citizenry of the developed world, he admonished, with furrowed mono-brow.

And to emphasize the point of the lesson, Hannukah Harry left us with a Canadian Maple Leaf gold coin a piece (he explained he was originally from Toronto), and then drove out of sight in his ’79 Toyota Corrolla (sensible to the end).

So today, in remembrance of that evening with Hannukah Harry, and on this first night of Hannukah, I have discarded my formal iBC Approved Lincolnesque stovepipe top hat, and replaced it with the traditional Hannukah stovepipe instead (above).  

Happy Hannukah to all of you, and most especially to my Tribal readers and friends.

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As for the market, I think you can see what’s happened to the dollar, and consequently, our vindicated precious metal markets.   Notice also that things in the PM world have started to get a little tired and labored even as the dollar drops?  That’s why I’m not really adding to my precious metal hordes at this late hour, despite the temptation to do so.

In fact, I may even use this short burst to trim some of my laggards like IAG and GSS, and even sell some calls on my workhorses like SLW and ANV.   In the meantime, I make hay whilst the sun shines (and the dollar drops) on such long term holds as ENTR and TC.   I even added to TC ($12.80) and rare earth metal nut-stock AVARF ($3.69)today, as I recorded in The PPT.

These are all late game plays, and I will be trimming in the week ahead almost definitely.  There’s only so much we can expect out of the magnificent moves we’ve experienced in the last months, and I will squeeze what I can out of my bounty.  I will also endeavour, however,  not to get stupid and over-greedy.

Best to you all, Light Festivalists.

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