Yeeeeeeehhhh-haaaawwww!
____________________________
Omm-nom-nom-nom.
Deee-licio-OH-SOH.
What do you do with a market that won’t go down like this precious metal market will not?
You continue to take what it gives you, like a nice salami & provolone with banana peppers, and rub your belly into the close.
If you were wise enough to see the imminent destruction of the currency with the “Three Lemon Slot Machine Pull” (POTUS, House & Senate) we ushered into office in November 2008, you– my friendo — are sitting pretty right now.
Finally, you can afford all the best poodle grooming salons, and when you take your wife out to Chez Cherise you can order two rounds of Appletinis and there’s no talk of “Going Dutch” — practically ever.
You’ve grown so bold you’ve begun to get cheeky with Dr. Fly and starting throwing jibes his way over such nettles as Flotek and the teeny tiny coffee jug plays.
Oh yes, you’re bold.
Well snap out of it! The market doesn’t grow to the sky and three beanpoles do not a salad garden make! (Or something to that effect…)
Now is the time to harvest. In fact, it’s beyond time. You should be selling down at least a third of your stash as I have here.
Today I sold even more [[AGQ]] — another 1k shares at $68.05. Just 600 shares left, sob.
I sold New Gold Inc. (USA) [[NGD]] — egregiously late as it turns out. They announced problems with the Mexican gov’t on one of their mines today and were punished like a thieving child.
I took 60% of the position off (8k shares) at $3.74. My over 50% gain in that stock melted down to 34.5%. Que sera.
I also took down a quarter of my NovaGold Resources Inc. (USA) [[NG]] position at $5.33 (4k shares), mostly because it had the same first two letters as the above loathesome NGD. For some reason, I left Northgate Minerals Corporation (USA) [[NXG]] alone.
I guess I like X.
I did not touch [[EXK]] , Exeter Resource Corp. [[XRA]] or [[ERX]] today.
I enjoy things with X.
I also dumped about 15% of my Golden Star Resources Ltd. (USA) [[GSS]] today (2k shares) at $3.56. Just shaving. Just paring. Just rebuilding the war chest.
To that end, I sold one more thousand shares of Silver Wheaton Corp. (USA) [[SLW]] at $15.89. I cried when I did it. Fat, hot, soapy tears of real grief.
In the odds and ends department, I launched the remainder of my OmniVision Technologies, Inc. [[OVTI]] , my Beazer Homes USA, Inc. [[BZH]] at $12.81 and $4.83 respectively.
That’s a lot of trading for me. My fingers are tired. My cash horde is looming. I am not gruntled.
Adieu.
If you enjoy the content at iBankCoin, please follow us on Twitter
Jake, are you playing the move in Ag?
Not whole heartedly, although I like GRO ovah heah, and noted your call.
I just haven’t really had a lot of time to “get into new ‘tings” ovah heah, and I think there’ll be an overall pullback market opportunity.
Of course, I have a man tonne of MON, and that will never change.
______
..good moves…pigs get fed hogs get slaughtered…whats intersesting though is we are nowhere near the froth in juniors yet up here in canada..thats usually the tell…seeing new juniors come up but by name brand guys with a track record….and still so many non beleivers on the PM space..bubble talk on PMs is ludicrous we are not even close…its when the CNBC crew says gold is great..thats my sell signal…
Some joker had a brick of gold in his hand on CNBS the other morning.
Hence, my nervousness.
Just looking for a “Shake o’ the noobs.”
My gains are so mighty… I cannot truly complain.
______
The Fly is loading up and you’re dumping stock.
I on the other hand mostly just ate one of Fly’s sandwiches other than a few short puts on YGE with a very nice premium thanks to RC. I’m still fairly heavily invested, nothing in the tape told me otherwise.
Saw that YGE call… and like it, but there was a warning shot across the bow in the WSJ this morning about “overheated Chinee” etc.
Usually a signal to show caution.
______
“I enjoy things with X.”
Well who doesn’t? Isn’t that the whole point of it?!
______
Why, whatever do you mean?
______
Maybe poker’s just not your game, Ike. I know, let’s have a spelling contest!
@2min: http://www.youtube.com/watch?v=au2YcZPnmMY
Damn pimps… the backhand is the best.
Sold the rest of my Grandmama at the close. Bot some more ARCC and shorted heavy FUQI & HSIC.
Gravity isn’t a theory.
Never,
ever,
sell ALL your grandmama.
______
I played sniper on that trade. No worries, grandmama will always be there.
“Endurance is one of the most difficult disciplines, but it is to the one who endures that the final victory comes.” – Buddha
BTW, thanks for setting up a prime location to snipe. One shot, one kill.
Unemployment since the beginning of the Pelosi Congress.
Sometimes, visuals are better for the learning disabled.
_______
Don’t knock visuals, information is beautiful. (A spreadsheet is usually _not_ beautiful.)
Here’s one of casualties in Afghanistan:
http://www.guardian.co.uk/news/datablog/2009/nov/13/information-beautiful-afghanistan
Another excellent one of left-vs-right:
http://www.informationisbeautiful.net/leftvright_world.html
WTF? Why do we get the highest % of causualties and fatalities?
That’s a great site btw
oh, god. I’m movin’ to Nebraska. Plenty o’ jobs there…
That’s because Uncle Warren lives there and owns the state.
Gotta root for the Huskers, though.
_____
Jake, about ARA comment on FLY’s blog, Still not sure that you know what I am writing about. It was not called “VCP”. But ARA. This was /is a pick on this site. Did it go from ARA to VCP to FBR?
I believe there was some sort of merger, but I may be off. I am getting this second hand from Le Fly.
_______
Nice post, Jake. I sold out of all my NGD at $4.35 a day earlier because I saw the news release on my Fidelity account a day earlier. One reason I stick with Fidelity. Also did you see my takeover pick of Canplats (a few months ago) got bought out by GG? I held onto it, too. (just toot’n me own horn a bit).
I have a couple of questions for you though:
What do you think is a good price for starting a position in Royal Gold? Just start averaging in now, or wait for a big pullback?
Also, there is a natural gas ETF from Claymore, Claymore’s Natural Gas Commodity ETF (GAS) on the Toronto Exchange, but it also trades on the pinkslips. Do you think it is better to just buy on the Toronto with Cdn dollars or buy the pinkslip with USD. Does it even matter? Because I usually just buy the pinkslips when it trades on both.
For a potash play I bought Potash One (KCL on the Toronto), but I bought the US pinkslip on that one, too.
I’m also thinking about buying a Uranium ETF for the long haul, but haven’t decided which one, or when yet. Just feel it’s a good energy play for the future.
Whew!
I would wait on RGLD… you will likely get a nice price on a pullback.
I don’t like buying Canuckistanian stocks that don’t trade here on at least the Amex. It’s a liquidity thing.
Uranium will likely rise like other commodities. I own UEC and some URRE.
__________
Yeah, whew! LOL I try to save up all my questions and chit and throw it all out there for you in one fell swoop.
Thanks, I’ll wait a while on RGLD.
Reposting DPeezy’s Chart because it’s kind of cool.
____
very cool chart.
Indeud. One of my favorite websites out there.
You Jake, are a socialist. You reject any proposal that would cause consumers to fully pay for the things that they consume. You advocate instead that those costs be forced upon others.
If one’s consumption causes pollution, why shouldn’t that person pay for the degradation of the air and water? If our military is charged with keeping shipping lanes open, why shouldn’t the operational costs for those efforts be reflected in the cost of the things that we import? If the beneficiaries of consumption don’t pay, those costs are shifted to other members of the society – – and socialism occurs.
Indeed, in a world with over six billion people, your 19th century “capitalism” is socialism. There is not enough stuff, clean air, clean water for all of us – especially as Asians start to live and consume more like Americans. We’re going to choke …and we’re going to lose our beloved market economy if we don’t convince dinosaurs like you to think outside the box and be willing to save capitalism by fixing it.
Sorry, but I’ve already addressed the latest “Campus left” socialist lite bee-ess on these threads.
You believe there is some great bureaucracy that can better arbitrate and assign these alleged “commons costs” than can the free market.
This is, in it’s essence, as assinine as those in the former Soviet Union thinking they could choose the price of bread for the populace.
Markets will arbitrate prices by assigning “opprobrium charges” to those they believe are free-riding. Why do you think the Fortune 1000 race out to trumpet their alleged “green-ness?”
All your takings will ensure are more corruption in an even bigger government. And yes, that all started in the 19th century with the railroad barons and their own “pet bureaucracy.”
This may be sophomore year stuff, however.
My belief — You are a either e a closet college commie, or duped. Take your pick. I’ve already voted.
________________
BUREACACY / BARACKACY
Not sure if this is a typo or an excellent pun… but i like it.
You are willing to let our imperfect politics send us into wars that you don’t understand – – but Oh Shit! – don’t dare dabble with placing a tax on gas that reflects the costs of pollution, road building and maintenance, and protecting the shipment of oil.
Sad, but not surprised, that you resort to name-calling instead of thinking.
What can we do to prevent wars? I will do anything to help prevent wars. I see no good in them. I know there is no good in them.
What can the average person do to help prevent wars, but still keep enough money in their pockets to take care of themselves and their families?
That was my whole beef with the chart Dpeezy posted. It showed that 90 percent of Republicans support war. I don’t believe that. My brain can’t wrap itself around that. But still, I am against socialism. So where is the solution.
No thinking person could support war. Maybe it is the terminology they used in the chart that showed this amount of people “support” this. Maybe that is what ticked me off so bad about the chart.
I don’t know. Sometimes I think the whole Democrat vs Republican circus is just a ploy to keep us divided. Divide and conquer.
If everyone keeps fighting between the two parties and what they believe in/stand for, we can’t get together enough to come up with a solution, or to even FORM a solution.
Politics keeps us divided. My journal entry for the day.
Oy! Slapping a tax on everything you feel you need to regulate is not “thinking,” it’s reflexive authoritarianism.
Use your “thinking” to convince people of your point of view without the gun barrell of the State for once. I know, they don’t teach that kind of “thinking” in kollege anymore.
As far as defending the country in war, consult your Constitution, it’s actually one of the functions of the federal government that’s legitimate.
Again, I know this is a foreign document to most leftoids.
____
That chart just pisses me off. I don’t even think it is very accurate.
For instance, I know several scientists, my older brother being one and two close friends who are very much conservative in their polictical views. And who don’t support war.
It says vocations for the left includes scientists. Where do they get that?
The vocation part is my biggest complaint just at first glance, but there is a lot more. Do you really think that most teachers support premarital sex?
And that most conservatives support war? That just ticks me off. Or that most homeless people choose to be? More likely most homeless people in this country, before the economic meltdown, and the serious disasters in LA and MS were probably mentally ill for the most part and unable to work. This financial meltdown and the lack of help for people who lost their homes during Katrina didn’t choose to become homeless. They were paycheck to paycheck before, for sure poor…just too close to being one paycheck away from homeless when disaster struck.
I am becoming way more of a conservative as I get older, but I think I’ll pass on being a Republican.
Where is the third party chart? Libertarian, is that it? Lets take a look at one of those.
I just hate politics and only recently started learning. You have to if you are going to be in the investing world. It’s friggen crazy making though.
Just working through my own thoughts on that chart. Not trying to start anything. 🙂
It is nigh impossible to capture the nuances of politics and the wide variety of individual human beliefs in a simple graphic. As with any attempt to generalize & categorize, there will be outliers who do not “fit the mold.” That in itself does not invalidate a chart.
In general, the chart does an excellent job of summarizing each side’s main ideas & the things we usually identify with the 2 parties. And as much as I would love to see a 3rd party enter the spectrum, I doubt that will ever happen (despite the failings of both the last Rep. & Dem. administrations).
Education on Socialism and the harm it does to a society, as well as an individual, has been probably the most belief changing aspect of my learning, lately.
Given the chance, and the funds, most people would help out others on an individual basis. Just stop taking all our money in taxes and fees, and we will take care of our neighbors and family based on individual need. I mean I believe in helping others but only after taking a good long look at whether that help would be beneficial to them or just make them more incapable and needy. Enabling vs actually helping. Organized charity, forced charity and the whole idea of altruism bothers me now.
I’m starting to get pretty po’d that the government thinks it knows better than we do how to save for our retirement. I think more people should really start taking a look at the social security thing. It is so infuriating that they take so much from us in our taxes to save for our retirement and then use the funds however they want, giving us no control over it. I mean it is supposed to be ours, isn’t it?
If they didn’t take so much we might have something left over in which to take care of our parents or grandparents with.
I’m speaking of the lower middle class here, and the poor. Because I know that the upper middle class doesn’t get any of the SS when they retire anyway.
I am also learning that government’s duty and purpose was, to provide secure borders, assist in national disasters, and to deliver the mail. Man, how far they have come from that. Isn’t that right? Or am I missing something.
“teach a man to fish, and he’ll feed his family for a lifetime”
“teach a politician to fish, and he’ll steal your fishing pole” (no offense to any IBC politicians in the house, but isn’t that just the truest quote of the day?)
Well of course. All men are corrupt, so we are all better off to make sure no one’s stick get’s too big, lest we all lose our fishing poles.
_______
Still selling here?
Yep, see my next post for clarification ————>>>>>
__
Sold 1/2 my SLW @ $15.73 for 78% prophet
Sold 3/4’s my EGO @ 13.33 for 43% prophet
Wow, way to go!
I just started buying SLW recently and so am holding for the long term. Wish I’d got in 78% ago, though. But really can’t complain on any of the PM trades this year.
Well except for BAA, which I did sell at a loss as it was making me uneasy. Probably a mistake, but at least it freed up my mind and some money.
Thanks Chanci – I stated buying SLW at around $14 and then $15…then kept buying it down to the $4 range (while cursing the name of Gint)…Alas, his promise it would get back to $15 and higher has proven treu.
Selling all the ding dong day today.
More later.
_______
Speaking of politics, I was sitting down with a relatively conservative lawyer friend today and he stated something I agree with completely. (Paraphrasing)
“All human institutions are faulty, therefore I support conservative, small government because in our system, one has little recourse against government authority. As well, bureaucracies tend to live on well past their useful lives, in contrast to market respondant corporations, which must competer for scarce resources for their survival.”
He also mentioned that even the biggest, baddest corporation can be sued, while the Federal monolith is sacrosanct and immune.
_________
Then you’ll probably enjoy this short, free, scifi novel a conservative, scientist friend email over to me.
It’s really entertaining. Even if it was written in 1951 or something. It’s called “And Then There Were None”.
http://www.abelard.org/e-f-russell.php#chapter1
Treu dat. Let’s just hand over 1/6 of the country’s economy to be run by the ineptitude of the ferral gummint.
Purdy can help choose the bureaucrats who will best assign costs in the best “free market capitalist” sense.
Lol.
_______
Commie
Indeud.
_____
MOS a technical buy right now.
1090 looks like the pin today, folks. Be careful.
_______