… No?

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What’s the matter? You don’t like gut-scissoring roller-coaster rides with your daily portfolio analysis?

C’mon, Mr. Pushups, suck it up.   Take one for the team, bear down.  Raise greasy lettuce for samitches.

Did you sell anything today?   I did, but not a whole lot.   My biggest move today was gettting rid of about half of my AGQ earlier today at prices north of $261.   It’s a deleveraging play, much like getting rid of my call options the other day.  I also sold 40% of my PAAS at prices well north of $41.60

 I didn’t sell any more EXK (I’d already dropped 10k shares last week), even though it did the “Egregious St. Vitas Dance” today.   It’s interesting to note my warning post of last week here.  Recall this?

Remember that green line I drew up there when I was cautioning you to let a little go last week?  Well, here’s that same chart today…

Uncanny, no?  

Will it hold?  I’m not sure, and we must remember these momentum burners tend to have the harshest pullbacks.   That said, I still like EXK on a further pullback, as well as SLW if you are lucky.   On the young gold side, AAU, NGD and yes, EGO are already starting to look tasty.   ANV is not far behind, and keep in mind also “dark horse” and relatively recently introduced XG.   If it continues to move  like this I will do a feature on it soon.  

Keep in mind these things can get oversold in two days… it’s just that volatile.   So be ready with your trenchers full of soapy cabbage for opportunities that will be knocking sooner than you might believe.

Best to you all.

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[youtube:http://www.youtube.com/watch?v=OSYtQy9EqTA 450 300] (Highly Recommend the movie, “Snatch,” by the way)
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Stuff has gotten a bit frothmatic here, and that means I will likely be taking some more off the table. I sold 70% of my SLW calls on Thursday and Friday of last week, and more than 50% of my GDXJ calls as well. I didn’t touch my IAG calls or my WNR calls, and I will let those two ride a few more days.  But all in all, I will be reducing leverage (options) here, rather than increasing.

Silver has gone ham in a way that makes all sane pigs quake with fear for their hocks.  Will this parabolic pole-vaulting continue?  Oh yes, it will, be assured.

But not without massive, gut-wrenching pullbacks that will have you alternatively cursing your mother and calling out for her like a stoat suckling, lost in the Deep Wood.  The key here will be staying porcine without losing your belly to the Bacon Merchants of Chicago.   Always remember, young chitlins — Oscar Meyer has no friends, despite his great wealth.

What’s still viable?  It’s questionable this week, as the profits will have to be snatched and then held close like a small hamster family you found in a rain storm.  I will be harvesting some AGQ here, for sure.   I will take from my other various silver nest eggs, and convert some of them (but not so much) into hideous useless “green paper,” for a short period.  

Some still harbor promise, however, and for the bold, I offer my EGO for your approval.  Note on on this weekly chart, we’ve achieved the triangle break we’ve been seeking… however so slightly:

Not impressed with that seemingly slight break?  Let’s look at it on the daily, then…

There, that’s better, no?  Truthfully, I don’t know what this sucker is going to do.  There are a lot of nice gold stocks that look like they are going to move this week, but I can’t help but feel like we are playing on borrowed time right now.   Play if you like, but be ready to take some off so we have plenty of cash for the next round of C-wave highlights.

We are not done here, ladies and gents, but the road will be bumpy before it gets like it was last week again.   Keep some crappy green lettuce ready for that event.

Slainte.

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What happened in the markets today?  Are you kidding me?  What do you think? Let’s not quibble about what is what.

We know what.

But today I have something different.   A piece from a brilliant work of historical fiction I’ve been reading whilst on vacation.  The book is called Glory in the Name by James Nelson.  It’s about the Confederate Navy in the Civil War and I recommend it highly.  Anyway, the one part I’d like to recreate here (with the indulgence of the author) is a description of the “model Southern Gentleman” circa 1861, just as the shells were lobbed at Fort Sumter.  

The words are from a patrician gentleman from Charleston, SC, who was educated at the U.S. Naval Academy, but who saw his duty with the Southern Cause in the final decision to attack Fort Sumter, in his city’s harbor.  In his own words, a Southern Gentleman speaks of his hometown:

It was where Samuel had learned to be a gentleman, and more to the point, a Southern gentleman.  Courteous to the last.  Studied, urbane.   Personally disciplined — a gentleman, he was taught, did not show womanly weakness of any sort.  Passionately loyal to his country and his state.  Unwilling to suffer even the hint of insult.  Tolerant of the lower classes, appreciative, even, of their labor, but always aware of their place, and his.  Kind to slaves.  These were the things that that made the Southern man, and the instruction was so thorough that those traits became a part of Samuel Bowater as much as his height and the color of his eyes.

Is that not the Monsieur?  How long as the South been awaiting his steady presence, I ask you?  Be thankful, small plebs, that he is kind to slaves.

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Mein gott, I cannot say enough about how well we’ve done today.  Let’s speak no more about it, as it may be seen as “bragging.”

Best to you all, Jacksonian stalwarts.

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My world– it is broken.  I cannot tell up from down, black from white, cockatiel from northern tufted sparrow.

Fitty took Quaddafi Blood Money!

Fitty took Khadaffy Blood Money!

Ah haaaaah…  Fitteeeee  took the fuggin’ Choiduffy Blood Money!

(and so did Beyonce too!)

Where, where oh Lord, has the world gone off kilter when childhood heroes like this turn to ashes in our eyes?  Who now can we look to to fill the Muppets Tree Float on the Thanksgiving Day Parade route?  Who will take the opposite of Lil Wayne’s “Douglas” in the best stovepiped 16th Presidential fashion in the Annual Rapper’s Lincoln-Douglas Debates Re-enactments?

Who??

Warren Gee, where have you gone, man?

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Listen, that shit is all funny and everything but I was up over 3.5% in my stock portfolio and 27% in my option portfolio today, so I can afford to make light fun of a bunch of zillionaire celebrities taking more millions off a bloodthirsty murdering thug dictator who was personally responsible for the deaths of 190 of our fellow citizens, not to mention a schoolboy friend of mine, over the skies of Lockerbie, Scotland.

But let’s not play, that shit is pretty fucked up.   I’m sure there were quite a few celebrities who did the song and dance thing for old Adolph when he was in his prime, but I’m going to doubt it was after he started marching Tribesman off into the woods for target practice.

Curtis, what the fuck were you thinking?

Continue to purchase SLW, EXK, ANV, RGLD, EGO, etc.  We are on the thin end, yet.  Pax.

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Sure I was away much last week. The same may be true this week.

Does it matter?  I would argue, “no.”

Have I not steeled you for the inevitable g-forces that have tugged at your innards?  Have I not prepared you for the hurricanoes of doubt amidst the gamed speculations?

Well, here’s the test. Those of you who gobbled some gifts up last week (even in my exigent condition, road bound and weary, I grabbed 120 SLW June $35 calls under $7.00), will profit this week.

Those of you who did not will likely dilly and dally some more this week, as that, it seems, is your nature. To your great chagrin, I might add.

Let this be a test then. How many of you have “taken” to the samurai training offered here lo these many months? How many are still trying to play the butterfly’s game?

Pax vobiscum.

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

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We’re getting into the gambling season, boys and girls.  Not just the annual March Madness, which is pure nirvana for we college hoop fans, but we’re also starting to talk Derby Prep racing, and even some golf course skins.

What better time, then to start pushing “all in” while everyone else is scurrying under rocks and diving for cover?  Listen, I have friends in Japan, people I went to school with, so I don’t mean to disregard this great tragedy, or diminish it’s human impact.  But if you think the market is turning because of Japan, or becase of Wacky Quadaffi, or for any other exogenous reason, you need to start thinking about a good index fund, and maybe concentrating on your brackets.

Listen close, as this may be one of the last few times you’re blessed with the benefit of my counsel.   You have very little time left to get your portfolio right, and I’m a very busy, busy man.   You’ve been running around, like a man in a wifebeater tee shirt with an insane clown posse tatto on your right shoulder, and you’ve been buying “the hot thing,”  “the sexy thing,” and let’s face it, “the easy thing.”  This game is not meant to be easy.  It’s meant to be a bare nekkid, blind folded race through a maze full of knee-high bear traps snapping away at your bag.

It’s time to stop screwing around.  This market is very close to getting that last bit of string pushed out, and you are better off closing out all your positions and going to cash like Scottie than continuing to chase every fleeting fancy sparkler in these latter waning days.

Needless to say, I’m not going to cash, though I did raise some today.  How?  By selling out the remainder of my non-PM, non-core plays.   I made the exception by keeping a little bit of hedged MON and UPS, but everything else that does not glitter or end up in the tank of my car is now gone.   And even my earl plays are very minimal.  I’ve got a little bit of ERX and a little bit of PBR and a smidgeon remaining of OXY.   Everything else — gone.

I will likely take some of that cash and use it for some additional leverage, probably for in-the-money calls on GDX, GDXJ and SLW.   These are more liquid PM option plays, and I don’t plan to be in them very long, but I will know when to climb into them.  It will be when the hammer below breaks through the glass flooring that has become so brittle… so brittle:

Print this page out, tape it to the top of your moniter, and refer to it frequently whenever you get the urge to purchase something frivolously. 

My best to you all, really.

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