Thursday, July 28, 2011

WE MUST DO SOMETHING!!!


We must do it NOW! Okay dokay I guess I'm all in then lets raise that ceiling and get this show going. After all....this is SERIOUS. In fact to prove this is serious, just look what happened to Mr. Market. That was a FEARFUL sell-off yesterday. One for the ages. That type of fear just can't be manufactured by a few Algobots......can it? At least surely Mr. Market wasn't having it's "wanker" pulled ........was it? That of course would imply......manipulation??? That's tin foil stuff and we know that would imply that those crazy PPT theories about the President's Working Group manipulating the market were true. Of course that nonsense has been debunked so we can now trade our market unimpeded.

Targets today:

$HUI 552
ANV 36.50
SLW 36.60
SSRI 27.35
EXK 9.20
AG 21
RIC 7.60
HL 7.90
GPL 3.31

Several of these either hit targets from yesterday or they are still sitting near key buy areas. Don't go "all in" here but these could turn out to be nice entry areas if you have been out of the trade. These are trade areas if you have your core already but I am still holding a heavy cash position here with my EUO hedge. $XEU jumped back into its channel so I will hold on to the short.

I'd love to turn off the noise but I can't help it. Its pure entertainment now on the MSM. Like a bunch of hens trying to impress a new rooster I hear the cacophony of the reporters increasing daily with the inane cries for the "debt ceiling". What has our news cycle come to? The DEBT CEILING?? That's where we've come to? THAT'S the NEWS? Without boring you with what the real news is I believe the average ten year old could do better. Piper time kids......PIPER TIME!! You're gonna pay it.....one way or another. Play your games. Cry foul. Cry help. Cry bailout. You had your wars. You had your McMansions. You had your phony stock market runs. You had your cheap gas. Now your're gonna pay. COUNT ON IT! Oh BTW those that think granny is getting too much with Social Security and Medicare and needs to suffer too. Careful what you wish for. You just might get it in spades. gl

17 comments:

  1. Per Phil Davis, he believes the markets have completed an "M" pattern (see SPY) and that now the markets are oversold. He advises watching the Russell 2000 (^RUT) which needs to hold 795. He believes if that holds, we can scale in with some bullish plays.
    It has been a scary week, but let's be brave.

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  2. hehehehe.....i like it doc.....targets getting hit

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  3. GPL seems like a broken trade to me. its testing the 50day and it bounced, damn if $3.30 doesnt hold it could get uglier, hopefully it doesnt test the $2.60 range, though that would be a good trading opportunity. good luck with it. i am trapped

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  4. rude.....SHAKE THE TREE......be a strong lil leaf

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  5. GPL testing lower BBand 50ma......I LIKE IT....but then I liked SRS and EEV so always do your own DD.....enjoy the game

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  6. if gpl breaks 3.05 I won't like it......

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  7. Kli,

    I hear you, haha. why you mentioned SRS, i dont know, but i got burned bigtime on that one. i learned a good lesson, trade what the mkt gives you, not what you think it should do. to this day, when i look at the stock price of SPG, it pisses me off. i own some GPL, so i wasnt bashing it, i just think the risk increased, but on the otherhand, the reward could end up being that much greater depending on how one decides to trade it.

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  8. KLI:

    The last paragraph in today's entry was one of your best in years. I'm still chuckling.

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  9. thnx jay it has to be said........rude i took a 200K hit on SRS and EEV those were VERY expensive lessons. AND that was only a short term trade....if I had held??? anyway

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  10. Email this post to CNBC......hehehhehehe

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  11. Anyone catch the flick Inside Job? I was catching bits and pieces this morning on Starz. What a great piece. Definitely slanted but the problem is its all true. Getting a copy from Netflix to watch uninterrupted. I'm the biggest detractor of what happened over the last several years, but I only knew the half of it. This brings to light even more of the ugliness and ugly players that were out there over the years.

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  12. homer......watch it free here.....

    http://www.theotherschoolofeconomics.org/?p=2499

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  13. lol - thanx. Pretty much rips GS a new one, drugs, hookers, influence...loved it. But as they point out, no one went to jail, not sure anyone cares.

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  14. PSLV still a buy before the close.....rest of my miners I bot today EXK SSRI HL GPL are green or near green.......bottom line.....bullish

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  15. The Russell closed at 799.34, so it is still above the 795 mark.
    When you look at Inlet's cycles, they are turning up soon too.

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  16. Gold held up really well and is trading up AH ;) Of course that is the case nearly every day. I would like to see silver retake $40 post haste. Charade should end soon. GLTA. I will be OOT next week, hope it's rally time!And just to re-iterate, thanks for all you do kli.

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  17. Grabbed up some ABAT at 1.27, no stops, do your worst Mr. Market.

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