I added a full position in RGR for $40.49 – 10% of net positions. I offset this purchase somewhat with small sales of CCJ, scaling out the profits from the latest recovery.

I read Feinstein’s position on guns, and it is what one could call “purely political bullshit.”

She’s made clear there will be a full grandfather clause. The rushed purchases being made right now are here to stay. No guns are going to be confiscated. And even if they don’t move to implement gun control, this event has sewn distrust amongst the population. The rush to obtain as many firearms as possible will be kicking into high gear; no one trusts Obama, the Democrats, or even the Republicans.

And the NRA has not even gotten in their say yet. Oh, yeah, absolutely, the world is just a different place now…

The NRA is going to steamclean the antigun crowd, with a torrent of statistics from Australia, Norway, and Sweden. They’ll wash it down with images from Chicago for good measure. The secluded college professors who have heretofore been given free control of the microphone won’t know what collided with the sides of their fat, pasty heads.

To say I am a gun ideologue is most likely accurate. But, this is also what I see developing – guns will be given a pass. There is much talk of reforming mental healthcare in the US, and posting marshals at schools, which will absorb much of the blows. And what assaults against firearms are coming, like Feinstein’s, are, as we say, ‘weak sauce’.

So my ideology and the real world should collide nicely, in cooperation and profits. Far too many emotional fools are forcing the hands of the calm and collected – such as The Fly’s relationship to his jackass client accounts.

I am very eager to pick up the pieces their effusive financing is so determined to leave strewn about the place.

While you were all comfortably stuffed, still sleeping in this morning, I awoke bright and early and tip toed softly to the landing and made my way winding up the stairs. At the top, I gently creaked open the door to the 9th floor office and passed inside to get some tasks done before the sun rose.

As the market bells rang, I waited patiently for the pricing I needed. And surely, a low volume morning surge grabbed RGR, sending it higher. I finally sold out at $54.70.

Not a bad 11% gain, for 5 days worth of holding.

I would normally have loved to wait into December for the special dividend to be issued – an extra $4.50 a share would have catapulted my gains to 20% – but why bother? When the market is so accommodating on price right now and the exercise date is so far away, I’ll just take my $4.50 now, plus extra.

I hope you all had wonderful holidays. Enjoy the leftover bird.

Bought RGR for $49.29. This is a play to honor the grand Turkey Gods, going into the season of giving…rifles before a new wave of anti-gun policies get thrust into the regulatory process.

I will sell before the end of the week.

Cash stands at 30%.