General Jackson Takes on Timmah Geithner and the Members of the First Federal Reserve Expeditionary Forces
I will be purchasing some Mongo’s (July 75 MON calls) after I finish this up, but first I wanted to trill the trumpet a bit on the key metals component of the Jacksonian Core. That SSRI additional purchase two days back well below $21 is proving fortuitous as that Jacksonian worthy is pushing 11% up today and over $23 per share upon most recent check.
In addition, the other JCHP silvers [[SLW]], [[PAAS]] are all above 5%, and tiny [[EXK]] has — as predicted — jumped back to it’s downtrend line again at $2.10 (to my chagrin, I wasn’t quick enough to get more this morning). Again, I think it will be safer to purchase EXK when it’s well past the downtrend line, and perhaps after a retouch of that $2.10 barrier. These minors can move quite quickly.
Keep in mind also that [[AGQ]] is the double silver ETF that I recommended back at the $43 mark. I continue to add to it on pullbacks.
On other fronts, it looks like our ever-so-brief retrace is about done, and we are ready to commence with this summer’s precious metal bull. Enjoy the sun, friends.
Caveat: If you purchase the JCHP holdings, it’s quite likely the Ghost Of General Jackson will visit the foot of your bed every fortnight, and lecture you windily about states rights and other such ephemera. You may also lose risk capital in such an adventure.
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Update: I bot 20 MONGO’s at $7.60. Will likely add to this position.
Update: I bot another 20 MONGO’s at $7.80. Mongo LIKE Sherriff!
CDE breaking out @ $14.45 (I already have a small position).
Update: I bot another 5,000 EXK at $2.11. (See Caveat above)
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Update: Jacksonian Spokesman LL Cool J with a special message from SSRI:
[youtube:http://www.youtube.com/watch?v=-7l250E5uM4 450 300]____________________
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I suspect this was the Battle of New Orleans portrayed?
Jackson’s service in the War of 1812 against the United Kingdom was conspicuous for bravery and success. When British forces threatened New Orleans, Jackson took command of the defenses, including militia from several western states and territories. He was a strict officer but was popular with his troops. It was said he was “tough as old hickory” wood on the battlefield, which gave him his nickname. In the Battle of New Orleans on January 8, 1815, Jackson’s 5,000 soldiers won a victory over 7,500 British. At the end of the day, the British had 2,037 casualties: 291 dead (including three senior generals), 1,262 wounded, and 484 captured or missing. The Americans had 71 casualties: 13 dead, 39 wounded, and 19 missing.
http://en.wikipedia.org/wiki/Andrew_Jackson#War_of_1812
I like the trade…worst case downside scenario to 75-76 area. Buy more if it gets down there.
You sallie, Jake!
Indeud.
Cuervo — correct.
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Heckler, indeud, I am a sallie. See Mr. Cool J’s admonitions above.
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(Glorious day out there. UBS upgrades SSRI’s target from $23 to $24 before the open, and it’s 2/3 of the way there by noon. Way to get ahead of the curve there, UBS…)
We smelted silver ’til the smelter melted down,
So we bought a commentator and we fought another round,
We filled his head with plastic shoes and powdered his behind,
And when we touched the powder off, Jim Cramer lost his mind.
We banked some coin, and the Feds, they kept a comin’
Printin’ even more money than they was a while ago,
We sold their bonds, and the markets started runnin’
Buyin’ silver, gold, and ags, from AGQ to MONGO.
Disclosures: Long SSRI, no positions other securities, and my apologies to Johnny Horton.
Is fucked in the head. http://www.youtube.com/watch?v=_LUkErRmHTc
Indeed!!
http://www.321gold.com/editorials/willie/willie052809.html
Bot some Agent Orange Julius (symbol (AOJ)) 2day. I expect it will double within six months (or grow 2 heads, or something else equally funky).
Scum — my little bro out in San Fran had a thing for that company for a while, but I thought it was bought out or went under?
That ticker doesn’t work, btw.
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It was a joke son. Viet Nam, Monsanto, agent orange, ring any bells? Orange julius is a drink, agent orange julius is like a pesticide laced can of coke or pepsi in Chindia. What are you, twenty something? Never mind, it’s not funny if I have to explain the intricacies in detail.
The guy who wrote Toptick’s (linked) article sounds like DevilDog with an edumacation:
To the fools, dolts, and morons out there who cling to notions of recovery and Green Shoots, bless your heart. Hope has clouded your minds. Once more you believe the liars and purveyors of propaganda, after being nearly fatally burned. You must believe in the Easter Bunny, Santa Claus, and the Tooth Fairy. You should not be in charge of investment funds, but rather of crayon supply cabinets and Beanie Baby collector items.
The Case Shiller housing price index this week reported a 19.1% annual decline in 1Q2009 from Q1 last year. Foreclosures in April were up 32% over last year, as the nightmare continues. That is 1 in 374 homes with mortgages in America in some process of foreclosure.
A relentless decline in home prices erases household wealth, and the source of consumer spending. Consumer confidence is ephemeral and baseless. The mortgage rate has just gone above the pre-March levels, when the USFed announced they would monetize $1050 billion in both USTreasury Bonds and USAgency Mortgage Bonds. The benefit has been erased.
Today’s underwater mortgage is tomorrow’s foreclosure, made worse by job losses. The FDIC this week reported a 25% rise in non-current loans in 1Q2009 from Q4 of last year. Greater bank losses will come, much like floods follow hurricanes.
And lastly, give credit to the USGovt statrats in their busy laboratories. They decided to ramp up the Q2 Gross Domestic Product by including all USGovt rescue funds for the big banks, including the diverse funds from the many liquidity facilities. All those funds will go directly into the GDP for Q2 as a special line item. Expect a miraculous economic recovery in the second quarter, based in vapor. The stock rally since March was based in accounting fraud. These are true American innovations, but too bad they are not exportable! They are not, since they have no value.
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Hi-larious “joke,” Scum.
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I don’t know why I’ve been busting your ballz lately jake, I’m solly. This link has some priceless quotes and forms the basis of my call on bonds:
http://www.fieldcheckgroup.com/2009/05/28/5-28-potential-consequences-of-55-mortgage-rates/
Best
scummy
Chuck Benett hangs out by the Orange Julius…. I hear its a hot spot for picking up cute Asain chicks.
DMG might have some comment on some of that, seeing how he is a disgruntled mortgage banker.
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Bill Gross is soiling his depends right about now. LMAO!!