[youtube:http://www.youtube.com/user/LearnLiberty?v=KGPa5Ob-5Ps&feature=pyv&ad=7868481249&kw=capitalism%20freedom 450 300]

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That’s the only way you’ll pry my Skiffles from me, you Happy Days Are Here Again-singing termagents!

I got rid of one half of my TZA today, because I think we are oversold,  but will I dump my SKF in a similar manner?

I will not, as I believe lovely Skiffles is a longer term hold here.   Check the monthly to see what I believe we have in store for us in the coming months:

 

I believe we may bounce around a bit here, and $BKX may even get all the way back to it’s twelve month moving average in the $45 range.  More’s the better, I say,  as I’m still not even 50% invested in Skiffles, and this is going to be the death trade going forward, by the hammers of Thor and the jockstrap of Odin.

As you can see from this chart, I think a return to the lows is all but inevitable.  However, if you extrapolate the cascade in the similar fashion as the one that precipitated the 2009 lows… well, we’ve a ways to go.

Say it with me folks… extrapolate the cascade.   Extrapolate the cascade….. EXTRAPOLATE THE CASCADE!

(Okay, don’t shout it that loud, or your wife/girlfriend/mother will think you are having difficulties with the KitchenAid dishwasher.)

I have not sold any more gold and silver… yet.  As per my announcements in The PPT,  I did add another large dollop of AUQ at the close along with a Godzilla-sized addition (temporary, to be sure) to my XRA holdings.  I think there’s something going on there, although to be clear, I know not what.  Love that late-day pennant though.

My best to you all, as always.

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There is no Bernank, Only Zuul

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I don’t have a lot of time this morning, so I’m just going to feature the chart I put together last night.   As you know, I’m increasingly bearish here, and more so on the financial sector than any other, primarily because they are — like our internal deficit and debt problems — another can that has been kicked down the road.

Back in 2008, when the world was melting into a hardened polystyrene ball thanks to the implosion of the easy money real estate bubble, banks were allowed to escape (some just barely) thanks to the ministrations of the Fisc and the Fed via TARP and other more nefarious and clandestine sources.   Worse, Freddie Mac and Fannie Mae, the twin dogs of Zuul the Destroyer, were allowed to remain in their positions of power “for the good of the market.”

In other words, little was done in regard to true reform save “shoring up” for “the good of the industry and the economy.”    Bad mortage loans are still on many books, and real estate prices have been frozen in a glacial slide to the sea, rather than being allowed to correct in a more natural — if radical — manner.

Ironically, it is not those mortgage time bombs which will kill the banks in the immediate term, as the “propping up” methodologies of Congress, The POTUS and the Fed are actually hurting the taxpayer while assisting lame banks.  No, it will be the regulatory overkill administered in the fecal kludge which is Dodd-Frank Reform Bill, also known as “the second 2,000+ page bill that no one read before voting through.”

To give the Congresscritter some defense however, we can’t blame them for the criminal act of not reading the bill, since there were hundreds of pages of regulations YET TO BE WRITTEN found within its pages.  In my opinion, this is the far more egregious and unconstitutional sin.   In the case of signing a law that carried unknown legislative directives in it, Congress is yielding it’s power to an unelected alphabet soup of Federal financial bureaucracy.

Banks are just now beginning to “implement” some of the new regs.  You are already familiar with the loss of revenue due to debit card restrictions, but there are other capital and revenue limiting aspects which will also affect banks both large and small.

Ultimately, this will likely lead to another round of consolidation,which is what the cronies in Congress would like, as they loathe competition and it’s messy donation collection implications.   Until then, banks will be a mess, and I would steer well clear of them.   If you are adventurous like me, you might even take an interest in their downfall:

As you know, I added to my SKiFfles the other day, along with a position in TZA and more TBT (which remains a hair shirt).   What you don’t know, unless you are a member of The PPT was that I also loaded up on EXK, GDXJ and AG calls yesterday afternoon.

Yet another reason to look into a subscription for The PPT as soon as possible.  My best to you all.

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WTF?  When we come back in a big way, we’re supposed to win the whole damn thing.

I don’t want to talk about it.

Okay, I will say one thing:  I wish I didn’t like Big Paps as much as I do.  It’s those damn ESPN commercials.

(I apologize to our foreign readers, but every now and then we’re going to talk sports and politics here.)

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I edged more to the Dark Side this day.   I added to my TBT horde… what can I say?  It’s like my own personal hair shirt.  It helps me with personal penance and such.   Reminds me of back in the day, when I was buying gold at under $300 an ounce and my dear departed Dad was laughing at me at every family gathering and occasional phone call.  Sometimes stubbornness pays off, no?

I also added to my Skiffles (SKF) horde.   I am now at about 40% of my intended position in that security.   I am not even close to the point of no return.

Lastly, I went to the Emperor Palpatine himself and bought some TZA from him today.  At the close.  It was a lot.  I don’t even want to tell you about it.  The lightning scars will likely remain for some time.

I didn’t touch anything in silver and gold.  I’m waiting to see if we’re getting some “handles” here, on what some are calling “triple top breakdowns” and what I like to call “cups w. handles.”   GDX is looking extremely appetizing here, but I will wait for it to break above that $63 range… and then I’ll probably go with GDXJ for the leverage.

Stay on your toes, and God Bless.

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Trust Ye Not the Evile Clamme!

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Well, wasn’t that a refreshing sell off we had today?  Will we bounce from here?   Likely, at some point.  But I wouldn’t get overly excited about it.   In fact, I’d take any rebound in the next couple of days as a welcome loosening of the steer-making device from around your sensitive bits, and lighten, lighten, lighten.   

You want to be as light as a Capezio-wearing chorus line extra dangling from a dirigible.   Because ladies and gentlemen, the Clamme  is not your friend!   The Clamme is the friend of men standing in bomb shelters poring over ruined real estate portfolios, but he is no friend of the genial Speculator. 

As good as it feels to revel in the seemingly endless supply of bubblicious liquidity flowing from the Helicopter du Clamme, you must believe that the other side of that euphoria is the long weightless drop down the elevator shaft, to which there is only one end for your portfolio.

Ker-freakin’-splat!

I love the Russell 2000 as a market indicator.   Are you going to pay attention to the Dow 30, instead?

A 10-12% sell-off will bring us back to the $72-73.00 area, where I see pretty solid support.   The 200-day EMA should rise to the $70 level here in the next couple of days, and that will offer additional support.   I don’t expect a bloodbath, yet, but why watch your portfolio shrink, or worse, get thrown in the chowder bowl when we will have larders full of opportunity in the coming weeks and months?

Patience.   It’s a most difficult virtue, but one that will pay literal dividends in the weeks ahead.

I added to all my market hedges today — SDD, SDS, and QID, to salutory effect.   I also off-loaded a small amount of MVG that I had not hedged, and sold off another quarter of my FTK holdings.  Tomorrow, I shall likely purchase some TWM and perhaps even some TZA, which I have held off on purchasing due to it’s razor-sharp canabalistic capabilities.

Best to you all, Clamme Diggers.

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Every chart I look at is registering overbought like a mother. Doesn’t mean that we can’t eke out some more gains here. I just wouldn’t bank on a big run, that’s all.

I may get some TZA this week, or QID, or perhaps even some SPY puts for the first time in an age.  You know how bullish I’ve been these past months since early September, so you know this is a serious admonition…

Get hedged, pledge.
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I see you!
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Despite the best laid plans of mice and men, not to mention Time Magazine weasels, physics still work and even fiat currencies bounce.   We are experiencing a necessary breather here in the nine year plunge of the dollar, otherwise known as The Potemkin Bull.

Here’s a hint as to where I think we’ll be going in the near term on the dollar proxy [[UUP]] :

 

Before you get all excited about your extra-ursine activity however, just know that this is not likely to last for very long.   Give it a couple of weeks, tops, before Time’s Genius of the Year  presses the one button he’s made available to himself to guide us all to economic Valhalla. 

That would be the button that attaches to the dollar printing presses.   For those of us who’ve been following the path of Jackson, that will be our signal to start buying miners and royalty plays again, this time in size.   In the meantime, I’ll be over here adding a little more [[SPY]] puttage, maybe some [[TZA]] and a couple of dollops of [[DUG]] for (just) deserts.    If you are in The PPT already, you will see the purchases first, as you have been.  

If you are not, then “a ha’penny will do,” I guess.     Off to listen to the sounds of “fap-fap-fap-fapping” coming from the Dope Slope.   At it’s crescendo, I will be buying gold, glorious gold.

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