Don’t Mind Me…
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I have already bot small amounts of [[EXK]] at $3.20 , Exeter Resource Corp. [[XRA]] at $5.56 and now Royal Gold, Inc. [[RGLD]] at $49.97 today…
Why?
Because that’s what I said I was going to do, no?
What the heck good is this blogging stuff if one doesn’t act on one’s own discipline?
It’s weurth (sic) nothing, that’s wot.
Note, we are over $1,000 in the price of gold.
Note, we are over $1,100 in the price of gold.
Note, we are in “breakout to the next level territory,” the next level not being close to here.
In other words, it has begun, my friends. Pullbacks should be taken as gifts, and silver under $20 an ounce should be bought.
[[CDE]] at these levels is a golden basket of twinkies from the Turkey Gods. Do not disdain that gift, heathens.
Their wrath– once disdained — will bring stuffing from the sky, that will occlude your carbureutor (sic) and make you late for work.
I will take other requests, and other queries, but do not test my good humor.
Just know this — if you have not taken advantage of the Grandmother Gold Stock (RGLD) upon this retest of the breakout, you have no one to blame but your old dodge-ball coach.
He foolishly allowed you to take one too many to the bean.
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OK – will do.
On another note, what are your thoughts about holding any cash in our accounts in other currency
(such as some in Australian and Canadian)? If you’ve addressed this in a previous blog, sorry- I missed it.
Currency speculation is a whole nother kettle of fish. While I think the currencies of more commodity oriented countries will do better, I think in the end they are all garbage.
Best to stick with “Real” currency.
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Thanks Jake.
Haha, currency trading right now has much the feel of attempting to claim the high ground in a landslide.
Jake:
Any comments on this article? http://www.marketoracle.co.uk/Article14996.html Could it cause a gold selling panic?
Why selling?
If gold bars really ARE all filled with tungsten (or 100% tungsten in the first place) wouldn’t that mean there’s even LESS gold extant than previously calculated?
I would think gold would increase in value on that news, no?
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Well, I was thinking the selling panic would be in the Gold ETFs since the public would not have any confidence that they actually represented gold
Given the amount that’s supposed to be in there, I’d take the hit, as such a panic would drive the price of my miners and physical (non-tungsten variety) into the stratosphere.
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that is going to be crazy news if it’s true.
Don’t get your hopes up… I’ve heard this rumor circulated for years.
It’s another variation of the “There’s no gold in Ft. Knox!” conspiracy theory.
Expect to see more as the marke for PM’s gets more frothy.
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Lead from the front… Do what you say, I can respect that. Therefore, I will follow you into RGLD, blindly. I didn’t see a disclaimer, so if I lose money I will drop a frozen turkey on yo head.
My Disclaimer is universal — follow me at the risk of stoning by Flying Frozen Butterball.
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Also…
As the late Patches O’Houlihan always said:
If you can dodge a frozen turkey, you can dodge a BALL.
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Jive Turkey. Grandmama is already up and working. Filled at 50.
Patches blessed you.
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Nibbled on CDE, while avoiding Butterballs.
Look at IAG!
Freaking nutty!
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Nice. Outside Gold, went long ARCC.
Any thesis there?
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Private equity firm for middle market cos. Like the support at the SMA (20,50). Initiated position, but will go heavy with a close above $11.20.
Thanks for the laugh – just pictured ND gym teacher frothing at the mouth with a dodgeball in hand.
Mr. Patrick Powderly?
How’s that for pulling a name 26 years out of the past?
(RIP, btw)
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Jake, I think Morningstar has been reading some of your old posts (re silver, not the wacky political stuff): http://news.morningstar.com/articlenet/article.aspx?id=316051
Pretty sure I worked for that guy in the picture, btw.
Hope all is well w/you and yours.
“Wacky” political stuff?
This, from the People’s Republic of San Franciscastan?
What’s going on in Washington right now, that’s “wacky.” The day we can call constitutional republicanism “wackier” than the socialist entropy we’ve got currently heading off the tracks is the day we ought to hit the “redo” button.
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Yes, thanks, that’s the wacky political stuff I was talking about.
Hope your brother is liking the new police chief out here. Seems to want to do the right things.
(sigh) fuggin commies….
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Bro is in Marin, he’s not an SF cop. He’s in a cushier district.
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Ah, Marin City. Home of Tupac. Thought you said he was here in town.
And “commie” has always been a curse word in my family, btw.
He lives in SF, but works north of the Golden Gate (SR to be exactitudenal).
He enjoys the many Italian eateries and the “ratios” available in SF.
Re: “commie as a cussword”
Are you Cuban like my friend Chivas?
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No, but had many Cuban friends while living in FL.
Dad sent several Godless commies to meet their maker in far off Asian countries.
Mao’s lackeys had it coming. Even the heavily-edited stories I got growing up would make you angry about what totalitarians do to the powerless.
And God bless Chivas, in whatever country he’s traveling through at the moment.
Bro is wise to live here if he likes the eye-tie… or about any other kind of cuisine.
Jake has no brother involved in anything so menial and ‘blue collar’ as police work.
Didn’t you know, he was born a privileged birth, with a SILVER SPOON in lieu of a pacifier?
What other way is there to “make it” in this country, if not being born into weatlh?
LOL.
Yes, that brother is very down market. He threw aside his inheritance and wished to bond with the hoi polloi.
Like a Kennedy, only with no vacations back at the Palm Beach compound.
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This must be some kind of theme in the Family Gint, no?
Didn’t you say you have another sibling who was in the Marines and another in the Army???
How could these ‘Senator Sons’ spit in the face of their privileged youth
and mix with the lowly underclass?
Sowing their oats, i imagine?
Just looking to pad their resumes in order to look more like “the People’s Candidate” when they take their rightful place in the House of Lor— er, the Senate.
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I bet he voted for Obama, too.
Ohhh, the shame!
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Are you cracked?
He’s worse than me.
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Hell, he’s worse than DMG.
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I said they were privileged, not assinine.
Jake, do think CGR is a lotto ticket or a POC? There must be lots of these little mines that will be taken out by larger ones if gold keeps climbing?
From a pure chart standpoint it looks okay. However, I don’t like messing with these below $1 burritos, as they often take forever to take off.
That said, $1.035 is the 61.8% fib line, and a break of there might be an interesting entry (probably ont he retest of that number.)
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Hey Jake, you heard about the new Junior Gold Miners index (note: it holds quite a bit of silver miners too)? Just came out a few days ago, ticker is GDXJ. Top holdings are CDE, SSRI, NGD, HL, SVM, GSS, NXG, JAG, etc. Has excellent liquidity too. What do you think?
GDXJ
http://www.vaneck.com/index.cfm?cat=3192&cGroup=ETF&tkr=GDXJ&LN=3-02
Yes, we had an extensive conversation on it in the previous posts.
Not as enamored of a junior ETF as GDX, but it looks like a nice diversifier if you feel like you need that vehicle.
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