Yeeeeeeehhhh-haaaawwww!

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Omm-nom-nom-nom.

Deee-licio-OH-SOH.

What do you do with a market that won’t go down like this precious metal market will not?

You continue to take what it gives you, like a nice salami & provolone with banana peppers, and rub your belly into the close.

If you were wise enough to see the imminent destruction of the currency with the “Three Lemon Slot Machine Pull”  (POTUS, House & Senate) we ushered into office in November 2008,  you– my friendo — are sitting pretty right now.

Finally, you can afford all the best poodle grooming salons, and when you take your wife out to Chez Cherise you can order two rounds of Appletinis and there’s no talk of “Going Dutch” — practically ever.

You’ve grown so bold you’ve begun to get cheeky with Dr. Fly and starting throwing jibes his way over such nettles as Flotek and the teeny tiny coffee jug plays. 

Oh yes, you’re bold.

Well snap out of it!  The market doesn’t grow to the sky and three beanpoles do not a salad garden make! (Or something to that effect…)

Now is the time to harvest.  In fact, it’s beyond time.  You should be selling down at least a third of your stash as I have here.

Today I sold even more [[AGQ]] — another 1k shares at $68.05.   Just 600 shares left, sob.

I sold New Gold Inc. (USA) [[NGD]] — egregiously late as it turns out.  They announced  problems with the Mexican gov’t on one of their mines today and were punished like a thieving child. 

I took 60% of the position off (8k shares) at $3.74.   My over 50% gain in that stock melted down to 34.5%.   Que sera.  

I also took down a quarter of my NovaGold Resources Inc. (USA) [[NG]] position at $5.33 (4k shares),  mostly because it had the same first two letters as the above loathesome NGD.   For some reason, I left Northgate Minerals Corporation (USA) [[NXG]] alone.

I guess I like X.

I did not touch [[EXK]] , Exeter Resource Corp. [[XRA]] or [[ERX]] today.

I enjoy things with X.

I also dumped about 15% of my Golden Star Resources Ltd. (USA) [[GSS]] today (2k shares) at $3.56.   Just shaving.  Just paring.  Just rebuilding the war chest.  

To that end, I sold one more thousand shares of Silver Wheaton Corp. (USA) [[SLW]] at $15.89.   I cried when I did it.  Fat, hot, soapy tears of real grief. 

In the odds and ends department, I launched the remainder of my OmniVision Technologies, Inc. [[OVTI]] , my Beazer Homes USA, Inc. [[BZH]] at $12.81 and $4.83 respectively.   

That’s a lot of trading for me.   My fingers are tired.  My cash horde is looming.  I am not gruntled.

Adieu.

Comments »

UUP is our proxy for the dollar as you recall.   It’s right at make or break here hanging about it’s 61.8% retrace.  Now, on my other graphing software, the 61.8% — Golden Ratio — retrace line is at $24.07.   No matter, we want this sucker below $24 to feel good about the dollar not threatening this rally again.  

Good thing we are in PM’s and heavy metals as they are negotiating this squall just fine today.   On the gold side, [[ANV]] continues to show real nice relative strength, to the point where its making me wonder if there’s not something going on.   [[PAAS]] and [[PTM]] are doing well as well, and you may want to have a sally at [[NG]] as it’s getting bootstomped for no particular reason while [[NXG]] is up.  Perhaps it’s the “X” chromasone?

I like [[TIE]]  and [[TC]] is just insane.  I may sell the calls after this posting, in fact.   In the meantime, the golds and silvers are hanging tough, and [[TBT]] is right at my intermediate sell level (high of about 59.50 today).   I may sell the calls on that one as well, depending on what the dollar does to the close.

On other crazy stuff, [[ENTR]] is finally breaking out, while the [[HEB]] takes it in the shorts.   Watch that one, along with [[IMGN]] as I think they’ll both “be baaahhk” like Arnold.   Another Fly buy is [[OVTI]] which I’ve had for a while now, and is finally perking.

Queries welcome.

Here’s a great theme for today.   Whether we’re talking the dollar or the market, you gotta love this humble boy from Northern Florida.  Fantastic rendition, too, the way he gets the blase LA crowd to sing the whole first verse (Hat tip to Boomer):

Update:  Funkier version from Hamburg, sorry about the “non-embed” you can see that one on Youtube.

[youtube:http://www.youtube.com/watch?v=RiztRc910Ps 450 300]

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 Update:  Sorry, no calls to sell on TC!  Therefore I am selling one third of my position here at $11.21.   I am risking that I won’t get the better price to reload.

Update: Bot 1k more [[GDX]] @ $40.88 for shizzles and gizzles.  Hanging on the 61.8% fib.

Update:  Re: [[UUP]]– she ended up at $24.00 on the dot.  Isn’t that just like a woman?

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