I thought we’d board the cocaine train to hedonism this morning, celebrating all day long–partaking in a great many frivolities. Instead, it looks like cowards are selling into strength, scared to pieces over sequestration. This is all very disconcerting, as the market needs to truck higher to support the revenue base of the United Steaks of America.
I have numerous positions, some are merely flings, others long term commitments. I’ve held CHD, RS, KMB, WM and PEP for almost a year. But there is one thing that I feel is a certainty and that is substantially lower gold/silver stocks.
They are broken. Hedge funds who are focused on the miners shall be liquidated. I declare we should free that money and let someone else more capable manage it! Forced selling will occur and the miners will suffer. They should’ve made more money by now. Instead, due to waste and stupidity, these miners are still trying to make money–even though prices have soared over the past 10 years.
They are a disgrace to capitalism.
I am short AG with conviction.
If you enjoy the content at iBankCoin, please follow us on Twitter