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There’s a lot of excitement on the blogosphere and within our own confines. Now is not the time to lose one’s head. EXK is an excellent long term investment.
Its time, however, is not yet come. The dollar will die, and the precious metals will return ascendant. However, this bull will shake you like a terrier on a sewer rat. It has not been and it will not ever be an easy bull.
If you want to pile in on something, drunken sailor style, go with the very tiny market phantom metal stocks like REE or AVL. Silver and gold are longer in the tooth than Yukon Cornelius. Good DAY, sir.
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Jake,
How much of a leash do you plan on giving to AVL? Up 30% today…it was tough to resist taking some off the table. But tis speculator week on Wall Street, so I figured there might be some more room to go. It is crazy to see big papa MCP nearing the 4 BILLION mark in Market Cap despite the fact that this dwarfs the value of the entire rare earth metals market. Alas, I decided to give AVL some more leeway. What about you?
It’s a speculation, and my investment is small.
So I let it run.
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Yukon Cornelius???????????? Holy shit Jake does your command of esoteric know no bounds?
C’mon, every red-blooded American under 50 years old knows who Yukon Cornelius is– from the famous Rudolph the Red Nosed Reindeer Christmas special?
Even our tribal friends are familiar…
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I started reading your blogs last week and you are right on the money….
I trust you got everything you wanted for christmas.
I hate rats, man thats a great pic.
regards
chuck
Thanks, yes, I got some sleep.
Re: rats, do not picnic in Central Park after dusk!
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Mr. Gint, may I ask you a question?
What are your personal YTD returns?
Being on the rich side of this PM move, I can’t help but wonder.
Over 90%. I don’t just do PM’s, remember.
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Git tradin – there’s still time to make triple figures for the year!
That’s really incredible. Congrats. Do you run money or just invest your own?
No outside dough.
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Jake,
Curious as to what you make of today’s action.
If I didn’t know better, I’d swear it was a classic case of someone running the stops in a very thin market, as we’ve just taken out two big round numbers (1400/Au & 30/Ag).
And yet, the above may just be a case of confirmation bias on my part. I may just have to respect the move and pull up hedges. I would be nervous about getting 100% long again, though.
The market always chooses the path of maximum frustration, it seems.
I don’t buy it until we break resistance on gold and silver (especially). The dollar is still over $80, and seems to be rebounding.
I think bull trap here, but I am keeping an open mind.
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MVG throwing old men down elevator shafts ….
Yes, sold the 12.50’s at the close. $12.85 or so looks like resistance.
Like the long term outlook though, and have a shitte tonne.
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Avg price target of analysts covering MVG is said to be $20 …
These are short term calls (FEB) I sold… and already paying off.
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I don’t mean to be nosy about the details of your trade, but I am curious about the terms-
I take this to mean you sold the calls to open i.e. short.
It is not always clear to me, unless I saw an earlier post opening the trade.
Yes, it’s a covered call. I’ve got tonnes of that name, and I just want to hedge my winnings a bit.
If you are long the name and sell the call, you are in essence “locking in” that price plus whatever the premium is on the call.
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Jake,
With all the rare earth hype from the news out of China, what’s your take on some of the Uranium ( I know it’s not considered rare earth ) stocks, specifically DNN & URRE?
Uranium and coal have been hot as long as the PMs. I would not grab any hot rocks right now.
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