Pulling Back on the Reins

Hold on there, jackasses!
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My apologies for being away, folks, but I am on the road and I can only snatch a moment with you here and there and when the wireless broadband affords.  I should be back tonight and be able to give you a more comprehensive posting.

It looks like the dollar has finally bounced, after briefly making it below the $78.50 level down to $78.41 this morning, but now it’s bounced pretty convincingly and is currently trading at $78.78 as of 1:15 pm Eastern time (and it had bounced all the way to $79 a bit earlier).  I am expecting that this will mark our much needed respite in the precious metals market.

And I really mean that.   If we don’t get a pullback here, then I fear we may have a parabolic situation, which is never good for a long term investor’s health.   I don’t want to give up on my positions here, but if we keep going northward without a rest, my trigger finger is going to get extremely itchy.

I’m still short the SLW and ANV calls, which I hope to harvest within the next couple of days.

I hope to see you all again tonight.   Best to you all.

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