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Yeah, the dollar is up, but so are the precious metals, so go figure. It’s not often you see [[UUP]] riding an updraft right along with it’s mortal enemy, real money in the form of [[GLD]] and [[SLV]] .
What’s going on? Well, I’ll tell you what I think and it’s just a theory… but I believe the Euro is headed for a bad night with the Reaper, and all the printing presses in Frankfurt are better off producing saurkraut than Euro-denominated debt to back this Grecian salvage job we saw today.
I’m getting major deja vu, ovah heah, and maybe you are all a tremble with it too. Remember when the gov’t stepped in and demanded that Jamie Dimon save that piece of rat’s offal, the Bear Stearns Company? And then soon after, it became impossible to save Lehman Brothers in turn, despite that latter bank’s greater importance to the capital markets’ zeitgeist?
Well, I’m thinking we are going to see the same here with Spain and maybe even Portugal and Italy lining up at the Eurotrough, if this most recent Moral Hazard Play works it’s way out in similar fashion to that of our own Wall Street bank collapse fiasco in 2008.
I mean, why stop at Greece? That is, unless you have to?
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That said, there are havens of safety and they are in the leaders. One such King Kong in the precious metal space is Allied Nevada Gold Corp. [[ANV]] , which I’ve loved since it was a little $6 stock, barely in knee pants.
For the love of Uncle Mike, why don’t you pay attention to my picks like this one? Do I not provide enough excitement with these double and triple baggers over a 12 month period? Ah well, it’s not like I haven’t been eating my own pudding, right? My gosh, take a look at this weekly chart:
Yes, that’s pretty much “free air” you are seeing in these current climes… marked by very little resistance. I’d love to see this beauty taken out by one of the acquisition-minded bigs, but I’m content to sit on my gains and allow them to continue to accumulate, no mattah (sic).
Speaking of charts that look like Cree, Inc. [[CREE]] look at CREE, again, and don’t forget about the monster move Veeco Instruments Inc. [[VECO]] made today. Make no mistake, these companies are going to be the new tech leaders, much like the Microsoft Corporation [[MSFT]] ‘s and Dell Inc. [[DELL]] ‘s and eBay Inc. [[EBAY]] ‘s were in the techy past. You should be content to accumulate these plays, along with such other long term targets like Royal Gold, Inc. [[RGLD]] and Monsanto Company [[MON]] .
That’s what I’m here for… the long term stuff and the stability. Not overly exciting, but a great deal of solid companies, doing the best in their fields. Now go on, get. There’s probably some teevee on, or something…
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After failing to pull the trigger at $12-13 for ANV, it’s harder to do it up heah …. have to wait for a retest of $16 at this point, but that’s just me.
WOW.
I swear I did not read this before I penned my blog. Weird, yet fascinating.
Psychic-link?
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Fuck, you got me by 9 mins. Makes me look like a plagiarizer.
Nah, it’s just that the deja-vu metaphor is so blatant.
Save the little shit, a la Bear Stearns, lose the higher value plays. This is why I am in the precious stuff. There’s only one way out of this murder hole…
Clack! Clack! Clack! Clack!
Ack! Ack! Ack! Ack!
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Gold will get murdered if they run down the euro.
There is an order to calamity.
EU, ASIA, US.
You will make your money, eventually.
I’ve already made money… tonnes.
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Whose printing? Or should I ask, who isn’t?
They will all have to, in the end. But right now, it’s us.
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$ANV MACD crossover = BTFO
As my Romanian uncle Dracul used to say, “There are many ways to skin a goat.”
Ah, the over the shoulder nut holder. Best position for the EU, holdin on to what they got!
Thanks for bringing ANV to my attention. It has become almost as profitable for me as SLW!!
Some nice calls Jake.
Jake theme song: http://www.youtube.com/watch?v=p9nfVrusSMg
Lol.
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If Uncle Mike was a smaaaat as Uncle #6, he would have gotten into ANV with me at high 9’s…
Some tasty ops today.
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Well, we spoke here a week or so ago and we hope your ass has found a seat?
Global CONtagion and rest assure, the Boomerang will be reversing course from across the Pond only to smack us right between the eyes where the wick was lit in NYC/DC and dispersed throughout.
What goes around comes around and the aftermath will be devastating for all (unfortunately).
The Cancer (Fraud) resides deeply rooted and unless gutted in its entirety, radiation & chemo (money printing/bailouts/0% rates/band-aids) will not cure this patient called the Global Financial Structure, yet only prolong its ultimate demise.
All fiat currencies are on the path to worth-less-ness (in time) and defaults, both Federal, as well as State, will emerge as the flowers in Spring bloom.
Good luck and protect yourself.
54% – Gold/Silver Physical/ Jr.s
46%- Cash/ Various currencies/vehicles
Indeed.
Agreud. Not sure I’d be too high on the currency exposure right now, however… maybe Swiss francs?
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Yes, as well as two others.
Notes from IBC 10-27-09:
1. toptick114 says:
October 27, 2009 at 2:32 pm
Global Macro-Economic Landscape- Horrific
US Markets- Presently in Consolidation/Corrective mode which when complete, ‘potential’ (emphasize ‘potential’) SPX/DOW 1170/80-1250; 11,250/12,000/500 yet ultimately succumbing by late Q1/ Early Q2 ‘10 whereby second leg of secular bear resumes eventually taking-out previous (March ‘09) lows rendering all 401K’s/Pensions etc…etc….’Essentially Worthless’
$USD (Sacrificial Llamb)- Presently in ‘bounce’ mode which should/may be ‘rebuffed’ @ 77-80 zone, when complete, secular bear resumes with stops/dates @ 72; 62; 52-55 zone.
Crude- Presently in Consolidation/Correction mode with support @ 75ish, when complete, 88-90 with an ultimate revisit/date @ Par (100) and beyond.
Treasury’s- Ultimate ‘D-Fault’
Gold- Presently in Consolidation/Correction mode within secular Bull which when complete, primary trend (Higher) resumes to New All-Time Highs.
Silver-Presently in Consolidation/Correction mode within secular Bull which when complete, primary trend (Higher) resumes to 40-50 zone.
2011= Global Hyperinflationary Depression.
Elephant In The Room= ‘$592 Trillion OTC Derivatives’
Trade/Act accordingly.
Indeed!!
Update: We recently (couple months ago) upped our $USD target to 83-84 zone as the technicals suggested, overcoming and going ‘topside’ on a ‘close’ at the 81.40 level. While the cyclical trend for the ‘Buck’ remains intact, the longer-term prognosis remains as stated above in our 10-27-09 notes. We believe we may be a bit early on our Global Hyper-inflationary call for 2011, yet see no signs that policy makers are willing to address the Cancer. Thus, such scenario ‘may/could’ be prolonged as well but, ultimately play out, as equities markets should find stiff resistance in the SPX 1230-50 zone.
Potential Reward= SPX 70-80 pts from current levels
Potential Risk= SPX multiple 100’s pts from current levels
Have a profitable week of trade.
Mr. Gint
Are you farmiliar with the Bill the Cat “ACK”?
Yes, but our “ack ack” is from Mars Attacks!
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I’m aware of the Mars Attacks “Ack Ack” mostly due to the photo the Fly uses to egregious amounts…I was hoping for an occasional “ACK” could slide in here and there in homage to Bloom County’s own feline….
Can you talk to the “higher” ups and give the V.King a chance to be voted in as tabbed blogger?
JG, is PAL worth a flyer down here?
Dayyum. That bitch got crushed like nuts in an Iranian prison.
I’d give it a day or two to sort itself out. PAL can be volatile. If you go, go small.
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Palladium mostly a jewelry metal or does it have industrial apps?
Used for catalytic converters like platinum, but cheaper.
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Continuing our discussion on the POS from the other thread, where do you think the near term target low will be? I’m looking to just buy all I want in one large acquisition as opposed to multiple entry points, since I already have an established cost base.
$17.77 is the 13 week EMA
and $17.00 is the 34 week. Doubt it gets much below that.
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Thanks for the input. I think I’m just going to buy it up where it is then. I had trouble seeing the price dip too far.
Added 2k GDX (49.54), 2k ANV (17.99).
Also grabbed a “taste” of AMD @ 8.65.
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AMD has some interesting products in the pipeline. I’ve been an ATI user since my mid-teens, and their future CPU-GPU hybrids could provide a challenge to both INTC and NVDA in the low and mid-range processor and graphics chips market. The breakdown today seems fairly negative, though.
have had my eye on AMD since rage’s “Ipad” post coupla weeks ago. was thinking about it today but it kept dropping and got cold feet. maybe tomorrow if i’m not such a p*ssy.
“… if i’m not such a p*ssy.”
That’s gonna be tough!
lol