Hunched Men in Dark Vests Ran Wild O’er All the Field…
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Just a quick word from York, as I’m on “clean-up duty” this evening and I’ve a whole Town Councill of village elders to hang from the parapets before I’ll see my cot.
If that’s not enough, I’m told there are three trebuchet that need re-stringing and I’ll be damned if I know where I’ll find good, cured cat-gut this late in the Northern English Autumn.
But all that aside, let’s look at what the sacking of today’s hard currency markets, by way of our friend [[HUI]] . The pullback, as shown by the long term weekly, was something to see:
If you were thinking of taking a bite out of some Jacksons or other PM’s you’ve missed — like Exeter Resource Corp. [[XRA]] and Allied Nevada Gold Corp. [[ANV]] on the gold side and Silver Wheaton Corp. (USA) [[SLW]] or [[CDE]] on the silver side — you might want to watch that strong (61.8%) fib line as your trigger zone.
Worse come to worse, I think the 34-week moving average will serve as support as well.
We’re relatively oversold on the Jackson side, and The Andersons, Inc. [[ANDE]] has held up well. Teck Cominco Limited (USA) [[TCK]] is probably good for a snapback tomorrow as well.
Last, it looks like Monsanto Company [[MON]] has had enough, and this $70 level has held up well on the weekly chart in the past. Could be worth an “accumulate” at these levels. Remember — this is a “grandchild” stock.
Ciao for now.
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I completed the amputations. We need more whiskey.
I’m afraid it hasn’t been invented yet, old boy.
We’ll have to make do with rot-gut gin.
They’ll be blind and, well, armless… but they’ll be happy!
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You realize that your General’s getup, as pictured on The Fly’s post, has boots that do not match the rest of the outfit?! Those brown-boots-with-a-mostly-black/blue/white-outfit fashion faux pas is practically screaming off the page!
I find this highly disappointing from someone I picture to be a bit more couth than that…
I would’ve expected black boots…or better yet, some steel greaves & sabatons.
I got them in trade w. Robin at the last Hero-Con.
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Pondering what it will look like when the York team meets up with the starcraft crew. Ah, the enemies that will be conquered then.
It’ll be like the end of Role Models:
http://www.youtube.com/watch?v=QE5VCVeHeB0
good one DPeezy….those cardboard swords are the best!
AGQ, CDE, SLW and all the silvers rebounding hard, up in the 5% area.
Baby $HUI up almost $9 to $393.
Gold stocks a little less expansive because of the AEM miss (down about 5% right now… this is why I don’t buy the behemoths, btw… the tradeoffs suck), so ANV is only up about 1.5% — an opportunity, in other words.
I told you this mother was a bucking bronco.
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Every commodity name I have is up 4.5-6%
Amazing how a dollar dump will do that for ya.
Forewarned is forearmed.
And Forearmed with the Jacksons is “forearm shivered.”
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Make that 6%+, looks like a lot of your plays are 9% now
I thought $70 for MON was a steal, and now its down to $68 or so, and with increasing volume. What is driving this monster of AG down? Is it the idea that farmers in developing countries cant afford the GM seeds?
I’m sorry I only had time to report this in the PPT today, but I bought 40 MON $70 strike calls today on the Bollinger Band crash trade below $70. I was a little early, and got them @ $1.95. They got as low as $1.70, but I like my position.
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I tried to start a position in MON today with a bid at $69.30 and never got a fill damn it … what month were those 40 calls?
Novembers– the Bollinger Band trade is a 15 day (tops) trade, so you can buy front month.
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Jake,
I chickened out yesterday like a coward and sold my 12% position in gold (PMPIX) and now the major stocks in the index and taking off like crazy (ABX, NEM FCX). If you were me would you buy back in now or wait for a pullback?
Ach! You got completely out?
We are in a secular bull here! Let’s not lose our position, eh?
What’s done is done, however. I would look for a pullback tomorrow after the huge move today, but it may not be til after we get additional gain in the morning. Get a little back in tomorrow no matter what and then sit and pray for rain.
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Thanks Jake,
Your comments are much appreciated.
I sorta knew I was wrong when I pulled the trigger, but my emotions got the best of me.
Guess I’m still the novice. But I am learning, albeit the hard way!
Nah, you did the right thing.
You need to be comfortable in your own trades. If you get so you are too worried to take a trade overnight, it’s better you get out.
It’s only through that process that you will learn where you should be comfortable and where not.
Believe me, even me — who is sure about this gold bull, and currency rip… even I was sweating bullets in that downswoop yesterday.
I think I had two samiches.
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JG – you spoke of $70 (approx) being the support line for MON. Since it’s at 68.71 as i type where do you see the next support?
Thinking of nibbling but if she’s headed further down, i’ll nibble later.
Also, can you believe Matt Stairs is still playing? Honestly, he wouldn’t even be allowed on this site he’s so old.