Indeuuuuuuud!
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Monsieur Le Docteur (actual footage above) was toiling away in his mad scientists’ lab today in The PPT (located in a secure concrete and steel rebar-reinforced bunker buried deep beneath the last tree in Bed Stuy), and he came across a fantastic discovery that may very well account for the vast amount of winship I’ve been experiencing during this nine plus year secular gold bull.
Specifically, he reported this:
During all previous Oversold cycles (2.30 and below to 3.00) GLD traded up 85% of the time for an avg. return of 3.5%. Best performer was IVN.
and even more curious, he finished with this additional information:
During Overbought cycles, GLD still went up 70% of the time for avg return of 0.76%
Could this be the very Grail that poor, waylaid Noble Sir Timmah was looking for? The contrarian never-fail end to his troubles?
I dunno, somehow I think he’d find a way to screw even this much up, but you never know. Meanwhile, here’s IVN — the “oversold Tiger” mentioned above. Ironically, I own little of this. But then, I don’t high-volume trade much either:
Look upon the beneficence that The PPT showers upon you with the occasional freebie above. Keep in mind, this is but one treasure from the horde of information waiting to be extracted from that pristine and beautiful engine. How can you be so Pennywise a clown to eschew The PPT while risking a stark and foolish pounding?
Make haste, haste to give him laud, the Mage, the Fly of Harami!
That is all, carry on.
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When does GLD ever go down?
Gold never goes down. It is your fiat currency that moves and shakes around it.
Is that Burl Ives?
Or Farley Mowat?
Either way, they both spark de wikkid ganja!!
De wikkid, man!!
Sub-Commandante! Are you Canuckistanian as well?
Sometimes I think we have more Canucks on this site than ‘Muricans.
But, no, that’s not the old Seal Defender. It’s BEAS in an up-to-date photo.
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Well there’s nothing to do up here about 8 months of the year, so we sit around our offices, posting on the Intertubes and eating Cheetos. I have no complaints.
No wonder all your good looking babes move down here.
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Or Christina in drag??
No, it’s her day off.
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Indeud! I await said break!
What you thinken (sic) about IAG? The PAAS that refreshes ore more downside?
H5O, someday, I will get you to break with your fear.
It is the mind-killer, Muad’ Dib!
We are in a secular bull, on the verge of another consolidation break out. Attend!
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I sold most of my PM stocks on Tuesday, which so far has paid off. I got limit buys in place, time for the show to hit the road.
Someday, that Chinese fire drill shit is going to bite you in the ass, as you are left standing in the interesection, your friends’ jalopy receding into the horizon.
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Thanks Jake!
Still hanging in there and learning to keep my positions, but Ouch!
If it makes you feel any better, I have 11k shares of it. But here’s the thing.. my average cost is about $8.
Soon, you will have this same serenity.
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If you are going to hold this stuff long term, you need to really believe in it like Jake does. He’s made a lot of money on it because of that commitment.
The reason I only trade them is that despite the excellent macro environment, I think the mining business is in general a loser(due to constant capital outlay for new sources, if the commodity didn’t keep rising they would not be making big money) and I really don’t like gold on a fundamental basis.
That and the fact they don’t pay decent dividends but that’s just me.
It’s definitely a shitty business, no question. In fact, my two favorite gold and silver plays are not even miners but “factors” for miners — RGLD and SLW.
That said, in the rare bull markets for PM’s, there’s no better speculative leverage than ore in the ground.
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Still chuckling about the tagline you dropped over at Fly’s blog. “PPT: why I’m winning even when I’m not paying attention.”
It should make its way to an ad with an appropriate graphic.
I thought fly was younger, say, 45 or so, not to say anything detrimental. Its the persona he exudes on the either by way of the net.
LOL. Yes, he’s a bit younger than 45.
But not in spirit. You can tell by his choice of hats.
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The CREE chart looks like death, no bottom in sight.
VECO still looks ok though…for now.
I sold a few more puts in it yesterday as I had planned – all Sept so I’m not terribly confident it won’t eventually hit new lows as CREE is.
Agreed. CREE was the one I thought the sickest, due to that chart. I’ve shrunk down to a mere 1k shares from an original 7k. I will ride with this final 1k, but I have converted quite a bit over to VECO, which has better product diversification.
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