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For the “panicky types” who have perhaps been taking their eye of the long term ball:
Yeah, we might see a little dollar rebound action here, but that’s what happens when you hit short term support. There’s still a pretty strong indication that those ALL TIME lows will come a calling again. What manner of specie would you like to be invested in at that point?
Be wise.
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INFLATION (DGP/UCO) and TBT
Yeppers.
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What the fuck is that crazy picture?
that’s the last WPA worker cleaning up the celebration mess when Hitler was defeated … under the boot of FDR of course.
Thanks, I learn something new every day here.
That pic looks like the lesser known brother of the Heat and Snow Misers.
You won’t learn much from Teahouse, unfortunately.
It’s actually a picture of “Wall Street Panic” from a Thomas Nast cartoon from the late 19th century.
He’s sweeping up the tickets.
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Sorry, it may or may not be Thomas Nast, but it’s the right time period, and reflective of his style:
Panic, as a Health Officer…
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Are you sure?
; )
I like my answer better and it made sense being posted by you during the deficit debate with cuts mostly aimed at entitlements.
> The WPA hired men with the weakest work habits who could not get regular jobs. Critics ridiculed them, and the agency as a whole, as lazy—calling the initials “We Poke Along”, “We Piddle Around”, “We Putter Along”, “Working Piss Ants”, or the “Whistle, Piss and Argue gang”. These were sarcastic references to WPA projects that sometimes slowed down deliberately because foremen had an incentive to keep going, rather than finish a project. During 1940, the WPA changed policy and began vocational educational training of the unemployed to make them available for factory jobs. Previously, labor unions had vetoed any proposal to provide new skills, saying there were already too many unemployed skilled workers. Unemployment ended with the beginning of war production for World War II, as millions of men joined the services, and cost-plus contracts made it attractive for companies to hire men and train them. With the need gone, Congress terminated the WPA during late 1943. <
http://en.wikipedia.org/wiki/Works_Progress_Administration
Moderation?
Clear that filter Jake/Jeremy…
Don’t know why it does that from time to time. Maybe the wikileak link.
Do the “a href” hotlink thing next time, and you’ll probable be okay.
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How do you do that?
What? They don’t have google in canada?
Don’t look now but “Panicked” RBY investors are getting some medicine:
http://finance.yahoo.com/news/Rubicon-Minerals-Announces-prnews-1949644176.html?x=0&.v=24
“We are very pleased to welcome Agnico-Eagle, a company with extensive expertise in the development of underground mines, as a strategic shareholder. Their investment represents a significant validation of our efforts to date and recognizes the development potential of our Phoenix Gold Project.”
Hmmmm… sneaky little sell off there in the days prior, no?
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Jake:
Are you still holding ANDE and MON? MON looks to be showing some life but I was thinking of selling out of ANDE
I will hold MON forever. ANDE is a nice inflation hedge as well, though not as high quality. I’ve owned it since the mid-teens, so we’re not eye to eye here. I’d wait for a break of $40 before ditching it, though.
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Those major gold producers like Nem,ABX,AEM,etc. are pathetic.
They swallow up companies like BMG (Battle Mountain), PDG (Placer Dome,etc. ) with all of those fancy reserves and their stock prices are trading where they were in Spring 1996 when gold was about $1200 less than what it is today.
That GLD etf (and others) really has sucked the investors money in and away from the equities.
That’s why I only play the juniors.
I do have some GG and AUY for the long term port, of course. Have never owned those former hedgers though.
Don’t trust ’em!
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Jake you still thinking the miners have some legs here? Its all looking a bit hairy and they arent participating much with the gold price.
If the market is getting hit it will take the miners with it. Twas ever thus.
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I snorted up some DUST this morning. The action is ugly and gold hasn’t even corrected yet.
Never short a bull market. There are much better opportunities. And a double neg?
Reading too much Savage.
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Senator
What do you think of this new Center the Giants signed. I think the Eagles are really gonna be a pain in the ass next year now that they have NNamdi and DRC.
My personal nightmare was them signing that unspeakable (literally) cornerback from Oakland. It was a double whammy because I really thought the Jets were going to get him.
Would have been a Jets-Giants Superbowl in Indy and I would have BEEN THERE.
Now, the Giants will just have to play New England again, I guess. Or maybe Indy?
😉
Anyone is better than “Stubs” O’Hara, the underweight center. I’ve been ready to toss him for years. I just hope we sign Bradshaw w. no hard feelings here.
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Hi, I wanted to give my sincere apologies for my post several months ago. It was completely inappropriate and without cause. I dont even know what got into me. Just this personal stuff I have going on, I guess. Still read all the time and really appreciate your insight.
A friend sent this song today, and it is just so unbelievable beautiful and Irish… had to post it here.
I’m really sorry for posting that nasty post in days gone bye. It has haunted me, as inappropriate responses tend to do. Plus I have stuff I have to say sometimes about certain miners, and it’s been killing me not to be able to, lately. LOL
http://www.youtube.com/watch?v=oMv_3YnlYOo&feature=related
Well,according to the comments it’s not Irish, but Gaelic. Whatever it be, it be calming, and beautiful.
Gaelic is Irish.
I don’t even remember you posting anything nasty. Was it aimed at me?
My skin is leathery and so are most who post here. No worries.
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Oh yeah, it was aimed at you. Something about you not giving your opinions on why you posted about a certain stock, as you aren’t an advisor.
Anyway, I just read on the trivia game night about Chart Adict joining the Army.
Why? Why would you do that, CA. Jeeseohpete, I just can’t understand that. I was raised in the military, my dad was a helicopter search and rescue pilot in Nam (2 years). NEVER recovered.
I hope CA doesn’t get sent off to war. I just don’t understand why he would have done it.
My girlfriend’s daughter, beautiful (breathtakingly so), college grad, joined the Army a few months ago and the first thing they did, after promising not to, was send her off to Afghanistan. The worst part there, too.
Be safe, CA.
CA was in the Army long before he was a tabbed blogger here. He even went to a military high school.
He’s very organized, it’s good for him.
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Oh, I didn’t know that. I know the military life is a good one, right up until war. Then not so much, at least not for some people.
Yeah, you’re right about the savage point. Just a 2-3 day trade. I can give it up, I swear.
Double neg sounded bad in my head and I still typed it! My apologies.
Thanks.
I ran the numbers and found that had I invested in HES in 2009 I would be up 24%, APPL up 328% and AGQ up 640%. What is your theory on PM’s going forward ? And why not buy PM’s and just hold, no taxable events and my broker doesn’t get rich…Any thoughts?
For me, I have several PM’s I just hold, especially the explorers, because it takes so long for them to make a major discovery, and that is the whole point of buying explorers, at least to me.
With the high flying PM’s like AG and EXK, I have been trying to hold a portion while trading add on’s, to catch the volatility.
Still others I hold while waiting for a takover.
I have several PM’s I have had for three years and a couple for four years.
But if you are going to do this, it is important to have enough cash to add on during the big dips as we are looking at now. And maybe even a HUGE dip next week as the debt ceiling problem is rectified. I think there will be a major buying opportunity at that time.
I don’t really know what JG’s thoughts are on this, but I do know it is a valid question and one I think about quite often. I am not a trader, though. I try to think of myself as an investor, adding on the dips in tranches, so to speak, of companies whom it makes since to invest in.
I think the next year will be a very good year for the PM’s. I know several on this site think so as well.
Where are ya, Teahouse? LOL
My only problem with miners this time around is SLW. It hit $45 three times earlier this year but this time around it hit $40 and caved. My EXK and IAG have performed a lot better. I would probably do better by ditching SLW for more EXK. On the other hand I think that holding AGQ and DGP or SLV and GLD and closing my eyes would work out better in the long run. I guess It all depends on how severe the next recession will be and if stagflation hits hard enough to tank everything in it’s path.
I did sell my SLW, and I had a huge position in EXK that I also so a good portion of. I am not feeling as good about EXK as I once did. I put the money into GPL and Fortuna Silver (which is not trading on the AMEX, yet).
I also have a very large position in SVM which I am holding to see what happens now that China has a new stock exchange.
I also have a very large postions in Sandstorm Resources, Silvermex Resources, U.S. Silver, Quaterra Resources(for it’s copper), and some others, mostly just explorers.
I am in it for the long term, but feel I have done enough research to be relatively safe in their future growth prospect. They are all under valued and the supply/demand looks really, really good going foward.
Oh, and I have a huge postion in a lithium company, the largest and most profitable lithium company called Talison Lithium out of Austrailia, that only went public went it merged with Salares Lithium.. It was private for 20 years or something and the largest suplier of lithium to China. The company is a cash cow. Check it out.