Diving for Real Dollars
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Yes, yes, you’re making Scrooge McDuck sized gains these last few days and you’re beginning to get all slack-jawed and drooly thinking about swan diving into your treasure pile of gold doubloons and ruby-encrusted silver chalices.
If you’ve been following along gamely, I’ll allow you that brief indulgence. Swim away, just be aware that those Kruggerands have sharp, ridged edges and they can nick your hammies in mid-backstroke.
Let’s not forget, however, that this blog is first about preservation of capital. We invest in hard money assets and companies because we believe the Fed is bent– like an emaciated goatherd preparing to skin and stew his last kid — on destroying the currency.
One way that’s skinning is going to show up is in the eventual destruction of [[TLT]] . For that reason, [[TBT]] is a Jacksonian Portfolio pick, and the only Double ETF I allow within those hallowed halls (though I love [[AGQ]] like Mrs. Jake loves an after-Christmas sale).
To my delight, it looks like [[TBT]] is “ready to rumble” right along with the rest of his Jacksonian colleagues:
[NOTE: My StockCharts machine is not working properly for me, but the narrative is TBT has gone:1) Back through the 38.2% fibonacci
2) Through the major congestion finger by price & volume charting; and most important
3) Through and retested the recent downtrend line]
I will get that chart up as soon as I can wrangle it. Salud.
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Addenda:
[[BIOS]] looking to break $8.00 with the vengeance of a Blogfather, ovah heah.
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I agree, but I purchased TBF instead of TBT. While it is only a 1x short instead of a 2x short, it has much less tracking error!
That’s probably more prudent. I don’t find TBT as egregious as some of the other 2x ETF’s though, so I go for the gusto on this one.
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Yes- Trade TBT against ^TNX and ^TYX and you will do fine.
Did you know the PPT has a gold category?
Did you know it does not have a silver one?
Extrapolate amongst yourselves….
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A nice comprehensive little article about why silver is so attractive to the Jacksonian.
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JOE is exhibiting a bullish Unique Three River Bottom if you are still interested in FL real estate:
http://hotcandlestick.com/chartit.cgi?symbol=JOE
I grabbed some for my LT account ………
I like JOE and the chart looks decent, but I’d like to see some volume, here.
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First a bullish Harami followed by the 3-River Bottom then volume will bring this back to the 50/100 dma at the very least ($29) …. so long as the market continues this uptrend. I like the candles here but not the waves on the market overall.
right on Jake…as well there are not that many silver plays compared to gold plays..in Canada i can think of 100s of gold plays but only a handful of silver plays, very few juniors and seniors…so if it goes it will go hard as there are few names to own…especially SLW which is the best leveraged silver play out there…and silver is still not on the radar screens like gold…so if someone beleives in gold and dollar down, inflation etc..silver will outperform gold…and if government ever got their act together and became responsible (will never happen) then you do the opposite
Yeah, we’re screwed if the gummint ever gets responsible.
Heh.
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Up, up and away on BIOSphere. busted outta the $8 spot.
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Fell back from $8, so I sold half my position (6k shs) at the close ($7.95), for a 35%+ gain.
Now it will be “cleared for launch,” of course.
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Inch by Inch – http://www.youtube.com/watch?v=myyWXKeBsNk
TIM says ‘precious metals are topping out and are at the cusp of turning lower’
What do you recommend as shorts?
Palo Alto Dimwits.
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Bill Fleckenstein on CDE, fwiw –
Hi Bill,
I recently read that an ETF for junior gold miners plans on launching towards the end of the year. Do you think there is an opportunity here by buying a basket of these stocks in advance of the ETF launch? thanks
BF • I wouldn’t, I looked at that basket and they have some real disasters in it, like CDE which has the biggest weighting I believe. CDE is the single
worst managed compnay I have ever known.
I would agree!
lol. It’s no Jackson, that’s for sure.
Doesn’t mean it won’t run to $40 here, however.
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ANV getting a lot of love from all the sellside guys who cover it in Canada…enjoy the weekend Jake
I’m seriously thinking of booting SSRI from the Jacksons and entering ANV or AUY.
Developing….
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