Monday, July 25, 2011

NO BIG DEAL


I'm feeling less scared today. It looks like "investors" are stepping back into equities and "stabilizing" the sell-off overnite. Well.....maybe. Let's see what happens today. In reality nothing will be settled. We'll only have another piece of gum put into the leaking dam when everything is said and done. First of all the pols are talking in terms of TEN YEARS. So whether you hear a "Three Trillion" cut or a "One Trillion cut...you have to put it in context. They are talking over TEN YEARS . That won't even come close to addressing the problem. Our YEARLY deficit is well over a TRILLION. So while we are cutting one or three trillion over the span of ten years we will ANOTHER 12 TRILLION F@#$!N dollars to the debt. This is not sustainable. So yes we are in a Kabuki theater moment. Its all a joke.

What will happen? What can we do to trade this. Well understand that unless the Fed wants to pull the plug and put us in depression this year.....we already are....but I mean a much deeper PAIN depression then we will have to have MO MONEY. MO MONEY MO MONEY....M2 money supply is rising quite dramatically over the last 2 weeks and this is real money so be aware, the Fed IS in there plugging the leaks RIGHT NOW.

I'm looking at overbought short term miners and gold. Can they get more overbought? YES YES YES. Just be aware. Everyone points to 1650 on gold so I look for a fight in this area. We will certainly get an attempt to take gold down when the "deal" is announced. We have a different issue with the miners. They are being driven by the boyz now and they can get a LOT further overbought......so be aware. We are in and inverse HnS on the miners $HUI and I have a lot further target to go. I still think we see 58 on SLW in the next few months. I don't own it right here. There are a basket of these to play GPL EXK SSRI HL ANV GFI EGO GORO AG




From Jesse's today USD LOOK AT THIS

20 comments:

  1. A new twist on the Old "Blue Ribbon Panel" so much for the "Courageous" vote to save our Country.........

    http://www.zerohedge.com/contributed/debt-ceiling-negotiators-propose-super-congress-do-dirty-work-and-avoid-wrath-voters

    This just keeps getting better and better

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  2. took some profit on PSLV PHYS SSRI RIC......yum yum prollly gonna miss sum.....will try and reenter on the 50ma

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  3. cramer hearding the peeps into gold and GG......cant say i disagree but ya know what that means......hehhehehe

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  4. Boy do I wish I reloaded last week........ No fun sitting on the side lines Waaaaaaaaaaaa........... hehehehe

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  5. lets see if they take them down when the "deal" is announced tom....buy the dips here and sell the rips....untill we get another good pull back no reason to chase

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  6. I saw that article about the "Super Congress" on Phil's site this morning.

    Perhaps the crisis will worsen to a point that they will institute the "Monarchy Plan". Then things could get "fixed" in a jiffy.

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  7. For the gamblers out there POZN looks VERY constructive here above the RSI50 and bullish 20/50 cross forming on the daily.....big vol buy on the turn...gl

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  8. I would like ric to return to 8.10 and I did keep a core

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  9. looks like if $3.80 doesnt hold for GPL $3.64 may be its next target.

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  10. yummmmmmmmm...prolly will nibble there..but just remember....keep a nice big fat cash stash if they whack it to the 50ma

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  11. I wanna see how it handles 3.50 range

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  12. "yummmmmmmmm...prolly will nibble there..but just remember....keep a nice big fat cash stash if they whack it to the 50ma

    even though i have a starter position at $3.89, i will avr down if need be.

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  13. Kli/others...what do you think of Bob Moriarty's comments that the juniors didn't rise until 9 mos. after gold/silver hit their highs in Jan. 1980:If you go back to 1980, gold and silver hit their highs in January but the junior market didn't hit its high until that fall. So gold went up to $875 and then collapsed; silver went up to $50.25 and then collapsed. The stocks didn't move at all until nine months later. They roared higher when people said, "Okay, it's time to get into gold and silver." Sometimes gold and silver lead; sometimes stocks lead, but gold stocks are very cheap now compared to the metal. And what is Phil's site? TIA.

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  14. sista I could not agree more with that analysis....look at last years late move in the miners which left many traders behind....I caught only about half of it. THEN it smacked down the johnny come latelies to the trade for almost 6 MONTHS!!!!!....My guess is they are only accumulating on pullbacks now ......SOOOO....enjoy.

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  15. But I did get a consolation prize if you remember sista when I loaded up on the pull back in Feb of this year and unloaded on the big ride up into March. I held a wad of PSLV SLW SSRI much longer than typical and made my trading goal for the year in March....Which...is why I am probably too conservative now....but it is what it is....gl

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  16. Sister,
    "Phil's site" is Phil's Stock World.
    I am a long time reader of his & sometimes I mention articles that are on his site here at Kli's blog.

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  17. wow, boehner stuck it to Obama. funny stuff.

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  18. Thank you guys...I've been holding lots through thick and thin, lol. So while I hope they get cheaper, not too much cheaper. Will check out Phil doc. Just now realizing we have 2 docs...

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