“The Check Is in the Mail, Inshallah”
__________________________________________________
The Turkey Gods are punishing Europe and Asia for not properly honoring Thanksgiving, as is proper and righteous.
If you think, however, that we will escape the “surprize!” news that Dubai may default on all those re-donkulous island developments with which they were blotting the Arabian Sea during the height of the funny money period, well… have another bowl of stuffing and steel yourself for a margin call.
There was massive selling on strength in the [[SPY]] yesterday (close to $700 mm) and I thought that would mean Fly would get his 10,500 and “done” on Friday. With the Euros getting emasculated in early Turkey Day trading (down anywhere from 3.2% to 3.4%), however, all bets may be off, and our sweet tongued friend may remain “family friendly” till at least the end of December.
In other non-surprising news, I sold even more Silver Standard Resources Inc. (USA) [[SSRI]] and Silver Wheaton Corp. (USA) [[SLW]] yesterday, 2k shares each, and to my horror, at prices well below their close. That said, I am feeling more and more comfortable with my cash horde, and with my taking money off the table in these high falutin’ $HUI stocks.
On Friday, I expect I will take the final step of getting rid of the rest of my [[AGQ]] (only 600 shs left, so not much) and selling some [[SLV]] and [[GLD]] for the first time in 14 months.
I will not sell Royal Gold, Inc. [[RGLD]] or Exeter Resource Corp. [[XRA]] only because I have not yet built full positions in those, and will take this pullback as a gift. I have trimmed every other position anywhere from 30-50%, however.
I plan to celebrate tonight with some nice turkey and egregious amounts of California cabernet. Caymus Special Reserve is my favourite (sic), but I’ll also bring some Freemark Abbey, as it’s a friend’s winery, and I’m partial.
Please have a Happy Thanksgiving, and try not to think too much about how cranes in Arabia (or other wealthy developing nation enclaves) nearly always designate a market top for most of the Western World.
Best to you all, my friends, and watch the drinking and driving.
If you enjoy the content at iBankCoin, please follow us on Twitter
Good article–I went short PCU, NEM–well all of the Gold stocks again, after winning on them the other day. On the gold stocks.-I’m doing the shorts better than longs.
PCU @ 35.9 is such a give away on how to time the gold shorts–long story.
Z!
then again gold may explode upward as safe haven shit
I am not cracked enough to actually short gold stocks, favoring my balls for future use and all– but God bless, Z!
__
Extremely well played, man! Congrats, and good luck playing the dip!
Your lightening up in gold looks like a move of genius. The hot hand continues… Nice work.
Allah Akbar, fuck you pay me.
Beware the Islamic bond.
Ugh, I should have told the Giants to watch the drinking and playing football.
__
where you interested in reloading AGQ? I just went in 65.00 premarket … I’m thinking silver could trade as low as 17.00 ? … which would put AGQ around 60.
worst case 15.30 or AGQ 50ish … who knows!?
AGQ tends to gap around. I only like to buy it when it’s trending (upward) so I don’t have to watch it every second.
I will likely leave it alone for two to three weeks and I could easily see it getting into the low fifties.
___________
agree … I’m putting it out over 67 for a quick deuce
sold 67.40
I sit back for now
Giants, not so much.
Commodity prices are going to skyrocket. Maybe not immediately, but soon enough.
Give it a couple of weeks.
______
Expert timing Jakesky: be quick!
Sold 1k GLD $115.40
5k SLV @ 18.02
remainder of AGQ (600 shs) @ $67.89
40 RGLD calls April 55’s @ 4.80-.90
_________