Freeeeeeee-ddddoooooooooooommmmmmmm!!!
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Just wanted to let you know that I’m still here, albeit with my guts wound around a spool and looking forward to that “Can’t-Get-Here-Soon-Enough” beheading.
I kid, of course. But I didn’t want you to think I had abandoned you all, or my positions. No, I’m sticking hard here, and have not deployed any more money today, although a couple of things are looking very tasty. Royal Gold, Inc. [[RGLD]] is one of them, already up more than a buck off it’s lows of the day. I may dabble in that one more time before the day is out.
[[AGQ]] is presently suffocating me, by means of a large rock laid across my larynx, choke-out style. This is the way this stock trades, though, so you have to be ready for “double draw-downs” as it is a double ETF. I will be looking to add that final 600 shs here, however, and it may be today or tomorrow. Silver Wheaton Corp. (USA) [[SLW]] is equally as ugly, but has (as a kind reader mentioned on the previous thread) quite a reputation from pulling back hard off of highs. Whether it gets all the way to 35%, I cannot say, but I’m also waiting to see how that on develops.
For golds, RGLD aside, Eldorado Gold Corporation (USA) [[EGO]] is performing the best of my three cabelleros. Next IAMGOLD Corporation (USA) [[IAG]] and dragging up the rear is the less liquid Allied Nevada Gold Corp. [[ANV]] . I continue to think Allied Nevada Gold Corp. [[ANV]] will provide the best long term bang for your buck, but I’d only nibble until a turn is confirmed.
The dollar (DXY) is most frustrating here, as it ran all the way to $79.97 only to fall back to the $79.84 region. I was hoping it would clear out all the way to $80.50 or so, but it looks like we may have to wait on that action again, at least until tomorrow.
There’s also a possibility that $79.97 was the high water mark, but I’m not counting any of those quail’s eggs yet.
Note — 1,035 or so is a 10% retrace on the S&P (or $103.5 on the [[SPY]] — that could be a nice target for any resumption in the overall cyclical bull. I imagine we’ll all be pretty exhausted at that point.
Hang in there, folks.
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Special Update:
[youtube:http://www.youtube.com/watch?v=tcoVxbutl8g 450 300]_________
Best to you all.
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