iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,326 Blog Posts

Kill the Leprechaun

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.

 

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20 comments

  1. flyaway18

    Agreud. It’s been fun reading you this week while I’ve been on vacation.

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  2. thaiguy

    You decide to short silver stocks now?

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  3. Juice

    short the Gint!

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  4. Mr.Partridge

    Shorting AG is too much risk for me personally, I stick with DUST .. no position currently

    KMB holding for 11 years + .. I bought it as a little boy 🙂

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    • Mr.Partridge

      Main inverse ETF I hold currently is RUSS – short Putin and his oils.

      I wish there was an etf to short fartman and k-ass though.. Direxion should take notice.

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      • Mr.Partridge

        Dr,
        I just bought starter in CRUS.. I have no idea why… I am losing discipline

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  5. noodle

    http://youtu.be/U8TREN0CkB4

    bitch bad lookin like a bag of monay. UH.

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  6. JakeGint

    Oh, yeah, and you’ll also wanting to be setting your tight stops and/or culling winners today.

    We’re going back under 15 hunnits on the SPX. Today’s your bounce.

    __________

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  7. Cascadian

    Buying cocaine today in the form of PAL and NUGT. No guts, no glory.

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    • JakeGint

      PAL okay. Still too early for NUGT.

      Listen, it’s a triple ETF. It’s not built for guesses on a turn.

      It’s built for Rothschild’s Middle, if you know to what I refer.

      __________

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  8. cpt for babygram

    I feel other sorts of web page creators should give thought to this amazing blog as an example. Surprisingly clean and user friendly approach, and additionally exceptional article content! You are a pro within this valuable niche 🙂

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