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First, my thanks to all who serve and who have served. This is your day, God Bless.
Second, I just got back from my road trip so I’ll be brief. There’s not much more room in this dollar bounce, in my humble. In fact, I may amend my $79 target (the 13-week EMA) down to $78.60, which is the 50-day EMA.
No, none of these numbers ever work out exactly, like some sort of magic poodle act, but they are a decent guide for resistance levels — especially when we are entering overbought territory already. Behold —
And when that dollar starts turning down, the PM’s will start running again, with abandon. The silvers have hardly slowed down, but EXK would be on my radar screen along with the usual suspects.
Mostly, the gold juniors are looking the most appetizing here, specifically IAG , IVN and EGO. However, this knife catch will probably be my first buy when the dollar cracks its head tomorrow:
Ciao to you all, annoying Italianate friends. Go out there and buy a beer for a veteran or a current service person, and never be embarrassed to say “Thanks for your service!” to someone in uniform. They really appreciate it, every time.
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Attention small pleb brothers (& cousin) — because you are too cheap to subscribe to the PPT, you missed by pickup of 2 separate 10k slugs of FTK the other day…
Both at $2.07.
I expect large magnums of Silver Oak and cigars from you at Turkey Day festivities.
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My 2.5k shares of FTK at $1.43 doing quite nicely, sank you berry much.
“Small pleb change”
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sell that cur before she tanks again! (Or are you just being a kind blogfriend and trying to get Fly to his $3.02 mark?)
looking at FRG here, too. Thoughts?
S’okay to toe-dip again.
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As a small pleb, you should expect magnums of Mad Dog 20/20 and a pack of swisher sweets.
You are not even coming up for T-day.?.. prepare to live in the house of dog.
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Ven von leeeeves in da haus ov da gestapo, von does as vons told, yah?
mein fuhrer likes zis backtalk not.
Der Fuhrer is still pisten offen about mizzen der San Franziskanner, me tinks.
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xxx
Won’t a rising yuan provide more room for the $ to rise?
???
The yuan is allegedly pegged to the dollar, not the other way ’round.
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Just as an idea for anyone so inclined for future Veterans’ Days, or just looking for a business or service club activity: Mrs. Anton just came back from a management team offsite where, as a closing group project, they filled small kits with personal items (toothpaste, mouthwash, baby wipes, sunblock, etc.) that will be sent to active duty combat troops. In addition, each exec was responsible for writing eight thank you notes to the servicemen and women getting the packages. Most wrote more. These kinds of gestures make a huge difference in the morale, and in many cases, the actual health of our men and women in the service. If you have a family member or friend in the military who is deployed, they will tell you how much.
Also, throughout the year, for those so inclined, small packages with items like those above, along with simple white gym socks, underwear and the like, is all very welcome by your local VA hospital. Some of the men and women in their care don’t have family to help out with these small “luxuries.”
Great poem, Jake.
Our church does this every year under the directorship of a former Marine, and I am measurably proud to say that Mrs. Jake is the Prevailing Harpie from the female side of the ledger.
Thanks for the reminder.
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Wow Jake. What a poem! Thank you for bringing this to our attention. In my opinion, this is a fantastic representation of American competitiveness, and of physical aptitude. I only wish that our own manufacturers felt the same way! I guess now we truly rely on “America the inventor” to capitalize on our ideas, since we so lack the ability make and sell things nowadays.
Intellectual capital has always trumped brute labor, why do you think our standard of living is among the highest in the world? Do you think Singapore, or Hong Kong in it’s pre-takeover days, were large manufacturing titans?
Let’s name the highest economic concentration regions in the U.S. right now. I’d venture to guess they are the New York metro, San Jose (Silicon Valley) and Greater Los Angeles. The major income producers in those regions are, respectively, capital markets services, software and multi-media. These are not small dollar items, nor are they easily replicable, like manufacturing.
We are in the information age, now, stop worrying about the damn spinning jenny bidness.
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Don’t forget oil and gas.
Jake,
If you were to start investing in PMs today….what would the portfolio look like? % weighting would be appreciated.
Thanks,
Troy
More silver than gold. I don’t know what the size of your port is, but if you are a newbie, I’d hedge portfolio risk by using the following ETF’s —
GLD — for pure gold price exposure.
SLV — same as above, but for silver
GDX — larger cap miners — leverage on the price of gold
GDXJ — smaller cap miners, more volatile, better expected return
SIL — Silver miners — leverage on the price of silver.
I’d start there… unless you’ve got a million plus to invest, that’s your best bet.
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Thanks! I have been using CEF for gold exposure. I have been purchasing individual names, but my thinking became a bit cloudly and I needed some objective advice. The port is under $1 million…I appreciate the guidance re. the etfs.
Jake
What are you seeing here that makes you want to buy back in?
This seems to me to be the beginning of what could be a serious reversal…
Disconnect from the dollar, cramer talking it up, down 6% in a day….
My guess: Someone knows QE will either be less effective than supposed, or will be reduced in scope due to very serious international pressure (Chinese missile launch near L.A.) In either case, the dollar may strengthen a bit here. Which would send stocks down to more reasonable levels, but be good for the economy in general. (Monetizing debt is stupid).
Don’t hold your breath.
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Possibly better than the iPhone back and forth, featuring Timmy G with an automatic weapon
http://www.youtube.com/watch?v=IGYAhiMwd5E&feature=player_embedded
Jake,
Are you a pm buyer today?
I dipped my beak today in SLW, GSS and EXK.
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Out of these: iag,ng,inv,rgld,exk,anv,gss
which would be the most OTB/riverboat-type, play?
NG and GSS, prolly.
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Silver Wheaton. Outlook?
I added back some today at $33.41 Word to the PPT.
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Cramer sez back up the truck for Gold
http://www.cnbc.com/id/40131687
Screw Cramer, he’s harshing my buzz.
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http://www.nytimes.com/2010/11/14/us/14nazis.html?_r=2