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Strong Win in the Beernuts Bowl

Charlie Strong
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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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StovePipe Hannukha Hats

Hannukah Harry Hat

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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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Dr. Bernanke Sings to his Girlfriend…

[youtube:http://www.youtube.com/watch?v=TEyCei4UB_Y 450 300]

… Miss America

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So, you want to trust Dr. Ben and his dollar action today?

Cause, I’m gonna tell you… that was some weird stuff today, kids.   Weird action.   Like as in “head-fake action.”

Maybe even “trying to break the buck action.”   Yeah, we all remember how Soros made his first billion, right? 

You think anyone else took notice?

So, I ask again.. you feeling lucky, punks? 

A couple of baubles for your thoughts.  This first I do not own yet, and it’s in the speculative (ie, “non-producing”) gold mining sector:

This second is also not recommended, even though I did buy it today, mostly out of a sandy chagrin caught in the back of my esophagus, borne of my missing the recent moves in REE, which I didn’t buy last week, when I should have.  This is a lesser “rare earth” variant thereof, which I took a very small starter position in today, as per my announcement in The PPT.

Keep in mind this one is overbought, and possibly more important, it rhymes with “barf.”

Best to you all.

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