What a glorious day for those on the Jacksonian path today. And for those who may also dabbled in the Necromancer Fly’s Black Arts of Sub-$5 Stocks, it was even more glorious. I must admit I dabbled a tiny bit in UYG, SONS and AMKR, just to keep my “Dark Wizard” hand in play, but for the most part, the combined 4.6% return on my two portfolios today was the result of strong results in stable, inflation fighting names like those I’ve already mentioned (TSO, NRP, GLD, SLV, RGLD, SLW, PAAS, ANV, MON, ANDE, etc.) and some I have yet to go into detail about (but nothing I haven’t mentioned on iBC and the PPT).
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These are the names with which we will retain our fortunes, Jacksonians, because let’s face it — we are not all afforded the flexibility, nor the trader servitude of the Fly or some of the other full time traders present on this site. No, we must remember that we are building wealth here, and that’s a work-a-day, two steps forward, one-step back type of existence, not a glamour (sic) job.
So on this day of accelerated heartbeats and happy returns, it is good for us to remember the (non-pun) original phrase in the above caption, which translates:
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“So Passes the Glory of the World.”
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In other words, this great day, too, will pass into memory, and there will be Not So Great days ahead, no doubt. Let’s try to keep in mind, then, that old cliche about being in a marathon here, and not a sprint– no matter how exciting it can get on days like today. We’re still in acutely perilous financial times, and I think only a meth-head would believe we are “home free.” We must continue, therefore, to shore our houses against the tide of corrupted money that will come sluicing out of the Federal Reserve and Washingtonian gates as deficit builds on deficit in the sham names of “stimulus” and “relief.”
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So if you banked some coin today, good for you. Now go buy some physical money (gold, silver, platinum bars or coins) with it, or at least a few hundred shares of GLD or SLV. In the meantime, we will continue to look at companies that have assets compatible with our strategy of sound money and lasting value. Cheers — and congratulations — to all, indeud.
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From the JakeGint “Great Movie” files: You think you get tense at work?
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[youtube:http://www.youtube.com/watch?v=Vog2Iu9xZh8 450 300]
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Sorry about the weird scrunched paragraphs… I do not know why the software is doing that. Maybe my photo was too big. I hope y’all can read it well enough.
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Slightly fixed by throwing in those goofy lines… at least you can read it now.
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Jake
What levels are you looking for in Mon. Surely you were kidding about the google thing, right?
Yeah, I meant “Google” in the sense of market dominance.
I’m looking for at least back to the old highs here, but as I said, this is a long term holding for me, so I manage it via options.
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Nice post Jake. But do you think the action is getting a little frothy? Whats happening in many of these bottom-of-the-barrel sub-$5 small caps is crazy. Usually this type of action would indicate the speculative fervor which typically occurs at the end of a rally (at least in the short-term). But with the way large caps continue to breakout as well, I’m not so sure anymore.
Jason- let’s just say that my intermediate term target is the 200-day moving average on the SPX, but I never thought we’d get there all in one swoop. There’s been a lot of liquidity dumped in the market, however, and that could be what’s pushing this spec surge.
I’m being exceptionally cautious here, and getting ready to throw the hedge breaks on at the first sign of trouble. I won’t be calling tops, though, or bottoms. I’m done with that torture.
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need some more smoke signals, buddy.
Tell me about it, C.
Hey, you wanna guest blog??
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i am not getting your message. you know me, me estupido.
would love to one day, but you know i can’t write.
mi com from Cuba in banana bout. mi no espiki ingli tu gud.
Chivas, did you get any help on the A/D breadth stuff?
Woody,
will be getting results by the end of this week. the early feedback that i have gotten has been very unexpected and actually negative. will see what the complete work looks like.
C- Did you mean my message above, or the article I sent you about the editor?
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Chivas, if it is something that you choose to share, I think you know my email.
Does the early feedback have anything to do with your short of the Qs? Any particular reason you picked the Qs over the SPY or DIA, or any other ETF?
Woody,
yes. also the narrowness of the move within the Q’S. 3 stocks make up for better than 50% of the move, and their weighting in the etf is around 10%. also, the rubberband is more stretched here. i will also be going after the spy and dia.
Jake,
check your e-mail.
Thanks Chivas.