Wednesday, January 26, 2011

SOMEWHERE

Somewhere there's a place for us.....to coin an old song title... but its not in a world that I recognize. We live in a world of illusion. We live in that world for a very clear reason as I see it. This world is broken...or perhaps more accurately...broke. There is no way out except through an extend and pretend policy. After another State of the Union Farce, even the average American isn't buying it. What we are doing right now is playing in a casino that is bankrupt and about to have its power turned off.....but we just don't know when. It reminds me of the Donald Trump bankrupty (or lack of) in the 80s. The pompous comb-over had amassed an unheard of ammount of debt and was going under in Atlantic City. The phrase "too big to fail" gained popular attention when the banks restructured his loans rather than put his holdings into "strong hands" like capitalism calls for. I guess this country thinks it can do the same with our current debt. Just extend and extend until the creditors "restructure" us.

Unfortunately it is not going to end as well for us. WE...YOU AND I..are now the creditors that are going to take the haircut for this. That is what was done over the last three years by the Fed and our representatives. We are going to receive slave status for years to come as the bankers take the last loaves of bread off the shelves before they close down the ponzi. WHY? WHY? WHY? WHY? did we ever let it come to this. How did we let our Country get taken over by K Street and the Banksters? Sorry if you haven't figured this out by now then you don't need to be on this blog. It was YOU. IT was ME. It was us not speaking out for the people. We had an obligation.

Back to work....this is another day of silver and gold beat down. Watch for evidence of a change volume is picking up so we are getting close on the miners. This is "change you can believe in".

Uranium remains in no man land. Look for more correction here over the next few weeks...but hold a core in URZ UEC USU URA.

enjoy this blast from the past....this is your next president. Realize who his masters are.....

http://dailybail.com/home/busted-watch-tarp-republican-paul-ryan-begging-congress-to-v.html

Biotechs remain a speculative/high reward play... OREX...DCTH...and big spec RNN.

37 comments:

  1. Going to buy a few jan 28 nflx puts today..Specualting that nflx will dissapoint..JUST A FEW for FUN..PSTI the one I mentioned yesterday with rnn is gapping up again...playing LNG IPCB AS WELL Cheers...

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  2. ONE other comment GMCR FOUNDER Green Moutain Coffee lol I love my k cups bought a boatload of KKD...KKD of late has awoke from the dead..Rebought some PEIX...CHEERS...Have great trading day everyone!!!

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  3. NFLX is a total turd....it is a great risk/reward...

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  4. Saw on the news last night that MacDonalds might raise their prices due to higher food costs. That could get the natives restless.
    Maybe UEC will do well today. Obama mentioned Nuclear Power in his address.
    Wholeheartedly agree with the "It was YOU. IT was ME" comment. Most people don't realize what we have done/failed to do. Our ignorance has been extraordinary.

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  5. "A great civilization is not conquered from without until it has destroyed itself from within" -Durant

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  6. aint it da truth.....anyway ...extend and pretend today....ANV SLW......hmmmmm....I don't believe it but lets see...the retests

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  7. LOL CASINO FOR SURE ON NFLX Maybe pwers that be will send it down hard AH...NUK NUK NUK!!

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  8. Hi HB, how goes it, I am phoning home!!

    I am trolling more and more lately, as we (spouse and I) want to build up a core of miners and PSLV. Problem is I don't have a lot of time to contribute or trade so I just do what I do best and suck the good ideas from others. We fumbled it last year, buying a core, waiting to buy more to trade on dips that never came, then selling the core for a profit only trying to find good entry points again, it was a mess. Worst is when we bought going before the correction in July, broker showed up with an alert on July 28 saying gold will correct through the 3rd quarter. Instead of ignoring it (I know they are dis-information), we got scared and started selling through August to minimize losses. Of course it was totally off and they had actually managed to call the bottom. We SHOULD have said keep what we have as the core, and buy the dip for trading.

    Anyway, we are the poster children for Joe's motto..."NO EMOTION".

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  9. ANV monster move but no volume.....hmmmmm....gotta watch this

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  10. DOW over 12,000 and S&P just shy of 1300.
    More electronic money for everyone.

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  11. Remember that everyone.....electronic money..hundreds of billions.....dont be afraid of the PM trade....gotta be patient.....

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  12. I took my ALU off at 3.40....I'll try to see if it pulls back

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  13. Also traded out of CBST .....its still has more probably but I just dont like this market right here.....

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  14. Seems like every day I start up and end up down, feels kinds like having my knees bonked. Anyway, the exar was a nightmare this morning and I knew, knew, knew alu would be up since I sold yesterday...but patience is the word for the pm entries.Best thing I got gonna now is dag. Anyone know the way to play rice. GLTA.

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  15. Oops -- "going" not "gonna". Also, the Eliot Spitzer video says it all. Now transferring the liabilities directly to the Treasury.

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  16. Homer,

    It always makes my day when you post, by the way do not listen to the broker ( they can not find the best prostitute in the same brothel house they work). Consult with us before allowing EMOTION makes the investment decisions, heck our advice is FREE of charge, heheeee!

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  17. Yep, talked to a broker at a party the other week--saw NO VALUE in gold...gave myself a gold star for keeping my mouth SHUT. ;)

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  18. The trading channel for DCTH lately is between 8.70 and 9.30, it keeps doing it which is a very profitable trade, at some point it will be broken either to pass 9.30 and hold or break down 8.70. 8.60 support so far is holding.

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  19. miners green and volume heavy also.....so far it looks like a turn......vethy tricky so far

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  20. I hear ya Joe - problem was the warning on gold's correction was out there for my better half to worry about as well. Prudence seemed the best way to go at the time. Also none of it was a lot of money away, we never really seemed to be able to add to core holdings as there was very little weakness until July, then of course the broker chimed in just as we should have started adding. ;-)

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  21. looks like PZG is ready for 0.30 to 0.40 upward short term.

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  22. Homer,

    The next 2 to 3 weeks if PZG hit 2.70 or lower then start accumulating, you might see a short term pop to 3.40 from where it is now before final leg down so keep your eye on it and if it hits 2.70 then start buying. The absolute bottom potential is 2.25 which might not get there and that's why 2.70 and lower is good accumulation time.

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  23. Thanx joe, will do. Also going to start collecting some SLW and PSLV as a real core soon and accumulate more for a trade later if there is more weakness. Going to try to do this the right way this time. ;-)

    Also hoping ALU and S get a little cheaper as well, tired of watching both of them and just dabbling a little in ALU.

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  24. I'm with Joe ....HAVE YOUR CORE NOW....but have the cash ready to hit them if they put another leg down.......watch for higher highs and higher lows over the next week.....if not...well you know how that works

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  25. Good volume in many of the miners....SLW EGO GFI HL

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  26. Holding yesterdays slw calls still. T/A is a bitch on an iPhone when I am used to multiple screens. Considering trimming the calls here

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  27. SLW mega reversal on HEAVY volume....avg 6mo volume almost DOUBLE...........

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  28. Kli,
    Thank you for having this blog! You guys are really tuned in to what's going on. Now I have a nice core in Miners and Uranium plus I upped my phsyical holdings at the right time. I am just trying to survive what I believe is coming. It will not be pretty!

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  29. Yep, I held the feb 31's. That what it was looking like with my limited tools

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  30. Hi Homer! Well now it really is Auld Lang Sang.... Back in Joe's treehouse, and I couldn't be happier to see you.

    Been out all day....gotta catch up. Hold on.

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  31. Sold dcth @9.36, watch for it to break out now. Finally the miners moved in the right direction, we'll see if this holds.

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  32. Lol....Homer, i'm just laughing @ Joe's broker brothel comment...and it really is SO true. The first and last time I saw my broker was in 2002, when we met to go over her end of a portfolio I'd inherited. "Well, you've had CSCO since the 90s.....let's see. Wow! Well if you had it at $80, ya gotta love it at $8!" That was a wrap for me. Liquidated the account as per advice of tax guys and never looked back.

    My .02 on gold...listen to these guys (I certainly wish I had last year) tune out the noise, get your charts to confide in you, and when if you've realized a nice profit, hedge (appropriately) so you can sleep at night.

    p.s I always have a couple of D.O.O.M. puts lying around, but that's a separate story. It's an Alpo story. :-)

    HB

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  33. Kli...re SLW: Heheheheeeeeeeeeeeee!

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  34. HB $HUI ripped off the 200ma like a rocket ship.....so its OBVIOUS (sarcasm) that this is it ....big volume too more OBVIOUS (again sarcasm)....anyway...just be careful ....these guys are twick wicky.....nice day though...I'll take it.....from my trading strategy it was very nice...but I still have dry powder if the pull a fast one

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  35. HB - I do listen, but the noise was tremendous and I'm a bottom feeder at heart so its tough trying to switch to what amounts to a momentum player with the miners at times. Conviction and NO EMOTION is the key as Joe always says.

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