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It’s not been a bad ride for ANV since we last talked about it, has it? Well, all good things must come to an end… or at least a temporary pause, no?
And I expect that’s what we’ll be coming up on in ANV as early as tomorrow. I won’t be selling any of my Smaug-horde, but I may very likely sell the calls in the high $21 dollar range. If you got on board when I alerted you to the 200-day touch you’re up over 35% right now, and I should think that’s not a bad ride for less than a month.
You can see we’re approaching some pretty serious oversold levels here in this recent chart:
I will likely do the same for SLW, EGO and IAG as well, and I will reduce my AGQ levels too. Some of my smaller positions, like FRG (also a huge winner today) and RBY may get trimmed as well, but most I will just leave to gestate further in the womb of this great gold bull, which I think will resume soon after this pull-back.
BAA — the chronic underperformer, comes to mind as a something about which Mother Mary whispered right in front of me, “Let it Be, son, Let it Be.”
Or maybe that was the Raven quothing “Nevermoooooaah!”
Whatever. If you really have the hankerin’ to buy something tomorrow, why not try that perennial Fly favourite and crusher of all things Broadcom — ENTR? Note, you may recall (and certainly the fine gentlemen and ladies of The PPT know this) that I added to my pile on this the other day at the retest of the original breakout?
Not that there’s anything to all that crazy chart-chompin’ stuff.
Best to you all.
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Did you see the Kyle Bass interview on CNBC yesterday? He was implying that a Japan and U.S restructuring are coming much sooner rather than later.
“Restructuring” in what sense? Are we going to issue new bonds in exchange for old ones, like bloody Argentina?
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I think he said Japan would default on its debt. He was as bearish as anyone I have seen. Here is the link http://www.cnbc.com/id/38739845
Japan is in a lot worse shape than we are, demographically speaking. I think the average age is about 48, and they are not replacing themselves.
They are going to have to open up to immigration AND restructure their gov’t spending in order to survive.
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Demographically speaking, they are all slanty eyed, and when the shit hits the fan, they wont go out looking for someone of another race to pummel to death. In this country, we have all kinds, and we are an uneducated bunch, unlike Japan. In addition, they are used to a fucked up economy, and dont expect it to change anytime in their lifetimes.
H5-0–
If you feel anxious about holding through a pullback, you may want to sell up to 50 percent and good the cash for redistribution into some of these other names or GDX or GDXJ for diversification. I don’t think this will turn into a lengthy consolidation.
FWIW.
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Thanks Jake!
I’ll probably hold through this one. Right now my IAG is getting hit, but my ANV, SLW, and GLD are carrying some of the weight!
Jake,
What are some ideas for how to prepare for a pullback? Sell half of everything.. wait for pull back and buy again. Sell it all, wait for pullback and buy again, or what?
As I don’t understand options(calls) yet, please provide some ideas.
Thus far the ride been great and I’d hate to loose it all.
Thanks!
Here’s an idea – go buy a 72oz pot roast and tie it around your neck bone. Swim out just past the break on Kanehoe Bay and splash around foe a while. Have at least 10 shots of esspresso vodka before your venture for the extra caffeine for the man-stamina you so clearly lack. Proceed in getting fuckien eaten by your food chain superior.
Debt summit is coming….sooooon
Jake,
In regards to BAA on the TSE, there has been several large block trades of late. These trades are occurring within the same house. e.g. today house 79 sells 3mill to house 79. These type of trades have accounted for the majority of the volume in the past 2 weeks. Do these trades have a significance? Or maybe some political fear surrounding the name right now?
Appreciate the insight.
I’m really not sure, but there’s definitely been an “overvalued” drumbeat coming from BAA for some time now.
Gotta be careful with these little, squirrelly ones.
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yo…took your advice and this morning at 9:45 i sold some of my ANV, EGO, SLW and IAG..still holding GLD and PAAS strong…
almost top ticked the latter 3 and the last 2 are already down 2.5%+ .. thinking of buying back same day, LOL..
will probably let it come in a little bit .. have bottom targets on these 4 guys?
ANV is still strong, but I think it could go back to $19, even.
I will have to look at the rest.
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For the record, I hate MGM studios for being insolvent. The Hobbit and a few other films I was looking forward to are on complete lock down, devoid of financing.
Maybe they will sell the rights… or the whole production?
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I just noticed I wrote “oversold” up there AGAIN, when I’d meant “overbought.”
I am dyslexically retahd-ed, I think.
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hey jake wats up
ANV, PAAS, RGLD, and in about a second… ENTR!
😉
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very sweet homie
have a good night!
Sold the ANV 22.50’s (Sept) for 90 cent a piece.
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Hey guy, hows the week treatin ya?
Flattish.
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First FRG and now MVG … IBankCoin!!!!
Thanks for providing that MVG heads up some weeks back, btw.
Still have it all.
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Eggselent!
Looks like the $ wants to rally here though … a shortage globally until Ben cranks up the presses or the banks start lending with reckless abandon.
Hate to sell IAG or ANV here … timing a re-entry can be tricky with Israel/Iran always in the background. Selling calls may work but how’s the premium?
Not terrible but not great. Premium is based on volatility, so it depends on what kind of movers you are talking about..
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An aside: Have you looked at NOR? I think you said earlier that you had no interest in aluminum but thought you might like a heads up on this relatively new listing.