SLW

Added @ $16.16

Hecla

I rode it's run over $12 late last year but haven't in a while. Getting close to the $12.79 from last month with much lower gold and silver so could be ready to break out!!

GDX

Added @ $48.98

DCR

Just bailed @ $5.84 (bought $7.88 & $6.67) Each lot only $2500 in these as I expect double the gains due to the volatility

Thought about holding one and buying UCR to hedge some but not worth it!!

Back to booking gains now!!


Morning everyone, we're back on track with our holdings!! Gold ready to get moving and markets look ready to test 12,200 soon!!

Losses

Nothing wrong with taking them John, remember that we are gonna ABSOLUTELY DOMINATE the next 3 months :)

I'm off to bed, talk to ya tomorrow

Joe

CK & John

Thanks for all the info on DCR, John me & you are so similar as traders it's weird. We saw this as a place to be contrarian and root for a pull-back. Nothing at all wrong with our plays as thats what makes us successful IMO.

I too am upset with the lack of due diligence but we will prosper in the long run and hopefully even make money on this play. I'm EXTREMELY glad you joined here and think we're gonna be prosperous for a LONG time no matter what the direction of the markets.

Joe

Asia/Australia

All RED so far :)

Very true John

We didn't close over $111 today so we have at least 3 days!!!!!

Thanks CK

Big gamble for me & John I guess!! Hopefully we get a pull-back before the end of the week. Based on something John posted it looks like $3.33 will be the NAV :( I'll probably bail before that and eat the loss!!

POG

I'd love to see us hold $930 overnight. We should be able to get Yamana right back to $15.50 by the end of the week!!

Thanks John

That helped a lot!! So we're looking at $3.33 as a bottom then it liquidates?

The good thing is a move lower in oil should give our buys in the $6's VERY profitable!! Big gamble right here!! Good luck bro!!

BTW

why would they start them at $20?????? Thats retarded, doesn't leave much upside room for the short to be able to take!!!!!

John

So it's not even really correlated to oil except for the position it's moving in? So basically UCR can only move another 20% then DCR would be ZERO???? FVCK that sucks!! We better get a reversal VERY quickly!!!!!


On another note, Gold is looking FABULOUS chartwise!!!!!! We're gonna get some nice days ahead!!!!!

DCR John

Not positive John, but i'm pretty confident we're gonna get right back to the $9 area quickly. I saw that the %'s weren't the same (DCR vs UCR) and should have looked into it.

DGP

Booked $22.69 buy @ $23.56

Due for a little pull-back IMO

SLW

Booked $16.14 buy @ $16.72

SRS

Booked $88.92 buy @ $93.90

GORO

Booked that $4.31 buy @ $4.49 (That was quick) !!!!! :)

SKF

Booked $104.12 buy @ $108.74

Been waiting for a day like this :)

John, very curious/anxious about DCR, sell-off seems way too excessive?? Any retreat under $110 this afternoon or tomorrow ahould send us soaring IMO!!

CK

I just read that link ou posted last week and it seems as if UCR @ DCR are linked to the same asset pool. It says that in oil closes over $111 on 3 consecutive days, DCR would only represent 15% of the assets (the goal is to keep them 50/50 which is why you can see the 30% drop in DCR and only an 8% gain in UCR) Not sure what to make of it, but know we'll get a MONSTER jump with any kind of pull-back!!!

DGP

Booked $22.59 buy @ $23.49

Goro

Added @ $4.31

DCR John

I just added @ $6.67

Why is it down like 8X the amount Oil is???

FYI

FXP looks to have bottomed and turned the corner. Almost 50% move if it gets back to March 20th high!!!!

SKF

Booked $103.81 buy @ $108.26

QID

Booked $45.31 buy @ $47.29!!

DCR

Bought @ $7.88

POG

Getting a nice boost with the oil move :)

WOW

Had to chase to get out of DCR, Sold @ $8.86 for 1/2% loss from $8.90!!

5 mill Barrels drop in crude supplies when looking for 2.5 million build, definitely gonna see $112!!

Vegas

They have a place that rents out Ferrari's, Vette's & other pricey cars on the strip. Sure you could find something there.

MDP

For 10 days out, SKF should make it to the top of it's range around $118. We're making our way back to 12,200 DOW once again and this could be the time we break back under with earnings season upon us!!

SWEET

Nice $12 move this past hour :)

My answer

I went with Yamana thinking we'd be looking at $130 with SKF which is a 26.5% gain:

Silver Wheaton is @ $16.16 26.5% gain = $20.44
DGP is @ $22.60 26.5% gain = $28.59
Yamana is @ $14.29 26.5% gain = $18.08

Anyone have another they can see gaining more than 26.5% in the next month please let us know!!

New poll

Sorry that it's my favorite's, just curious!!

Dollar Index

Is ready to break out one way or the other some time tomorrow!!! Which way will she go????

I would think that the decsent will continue!! Could give our prescious a nice lift ;)

Fast Money

Three of them picked Financials as the trade of the day tomorrow (2 - XLF, 1 - UBS)??????

Also UPS guided much lower which should bode well for our shorts. Companies slowing down on shipping is a great indicator of an economic slowdown IMO!!

Confused

Not sure if it has just been a long day and i'm unable to concentrate, but I couldn't follow the ticker???? I added the other link to the blog and am gonna check it out now!!

Ticker

I'll read it now bud, BRB!!

Greenspan

Trying to help out our bearish financials cause on CNBC!!

LOL

Whatta ya make of this action in gold??? You think King Of Gold has it right???

Cubed

I think so, right?? So how are things over in Hell's kitchen? ;)

GBN

I never added it to my streamer, i'm gonna do it right now. I love stocks like that :)

Hey Tom

BreakingNewsOn BREAKING NEWS -- President Ahmedinejad says Iran has tested advanced centrifuges, a breakthrough in a uranium enrichment program that the UN demands to halt.

This was posted over at Kitco and there was a link that I can't find now. I read this weekend that with this enrichment they will have the capabilities to develop a bomb within 2 years. Supposedly Isreal is upset at this and if they attack we will assist. This is what I read this weekend.

DGP

Added @ $22.59

Loaded up pretty heavy in this UltraLong Gold!!!!

SKF

Booked $102.40 buy @ $105.45

DCR

You gonna keep the remainder of yours overnight John?? I saw a couple posts about Iran and the tests their doing and am worried about an overnight event?? Although i'd like to keep till inventory tomorrow???????????????????????

Thats the toughest part

Is being happy with what you book and not second guessing if your stock keeps running. There will ALWAYS be dips to add and make another quick 3-5%!!! The stocks we're playing with have been trending upward but still in easy to find ranges for over a year now. They would have to run probably 200% to offset all the bookings, by which time we'd be able to get back in. Glad we trade alike!!

LOL John

We should start a practice, we'd never argue about which positions to take!!

Yamana

Added @ $14.16

Fed Minutes

I saw that and a couple even said it would drag out longer than the first two quarters. Thats why I figured we'd see an afternoon plunge, but not in our markets, the Fed basically guaranteeing a recession is good news in our country (rolls eyes)

I can feel it too

If the earnings keep coming in like Alcoa did last night then we should be looking sweet!! It's amazing how misguided this market has been?? Didn't we have an awful jobs number on Friday??

SLW

Added @ $16.14

Opinions

You guys think we're selling off into the close today???

SKF

Making a push for $110 (fingers crossed)

WaMu

Not sure exactly how they work but it would seem to me they would be up if the stock went down, right??

DCR WTF

Just saw it hit $9.60 while I was gone??? How far did price of oil fall?? Didn't think I was gonna be out long enough to have to set sell orders!!

EGO

Booked $7.15 buy @ $7.43

Nice work John's :)

Had to run out for a couple!! Waiting for this big reversal the EW guys are expecting??

SKF

Booked $100.2 buy @ $104.10

DCR

Same here, hoping for a few % then book. If it gets to $110 i'll add one more time and hope for a reversal.

DCR

We're getting a nice pull-back in crude!!!

Hey John (not Coin)

Not sure how to read that link you posted?? An explanation would be awesome!!C-YA in the morning!!

Not bad

Asia in the red and the futures starting lower!! We haven't had a good week in a while but still have avoided taking losses. Thats what it's all about, book em when we're doing good & add em on the pullbacks!!!!!

College hoops rulez

My favorite sport HANDS DOWN!!!!! I'll take college hoops and football over their pro counterparts anyday. The enthusiasm and effort is so much greater. All the pro's are rich prima-donnas IMO

Amazing

One of the best finals in a long time!!!!!

POG

We need to get to about $940 to break out of the downtrend on the 2 hr chart!!

Market Ticker

He was on the top of his game today :) Very good reading!!

John

You can't correlate the POG with the miners especially when Gold was only up 1/2 %

Yamana ran up about 11% from it's low last week to this mornings high. If we get another $5-10 move in Gold overnight we'll be back over $15.20 again tomorrow. If gold moves back towards $1000 we should get about 33% from here in Yamana.

You're looking at a nice profit in the next month or so as long as you book when we start to get overbought!!

John

I added that around 2:30 today. You're in for a nice average and should do extremely well. I had a lot @ $14.49 and booked it Friday afternoon for a 3 1/2 % or so. I basically will book when the price is nearing the entry point of the next lowest lot. My next two lots are $15.31 & $15.49 so I booked the $14.49 and today when we pulled back close to that I added it back so I basically booked the profit and was able to re-establish the position at almost the same price.

I'm not sure of the amount of time you can spend watching each day or how many shares you have but I would be adding at the current level or lower.

LOL

I think we're sitting on basically the same lots John, worked out good, booked the lowest lot Friday and now got to buy it back again.

Yamana

Added @ $14.65

That a boy :)

I'd like to get this market trending lower away from 12,700 by the end of the day!!

Chesapeake

Has been on FIRE the past two months. Good job!!

SRS

The housing market, there is way too much inventory out there and until the prices come down considerably, the homebuilders aren't going to be moving foward with new starts.

John

With SRS I would think that people are bottom fishing in that sector thinking that a bottom is in?? To me it seems like it's still accelerating to the downside!!

Where to start with Seabridge?? I wish it would have held $22.50 on Friday but has popped back up today a bit. Money has got to start flowing into explorers at some point and for the amount of ounces they're sitting on and the low number of outstanding shares it's VERY undervalued. Hopefully they start selling off some of their smaller properties in Nevada??
The past two years it's had it's biggest runs from June - August so hopefully history repeats itself. This is the most loyal I have ever been to a stock. Any other stock I would have bailed and looked elsewhere but I figure I owe it for the money I made running from $8 - $39!!!!

Lehman

I was just answering Goldfinger's question about financials. It would take more of a run up to get me into Lehmans but aside from GS, thats the only one on my radar. Thats all I was saying.

As for the sector as a whole, we're teetering more on the side of panic where any sign of further writedowns or that we still have a ways to go and we'll drop off VERY quickly. We could pull back to the $92 we hit on Feb 1st but I wouldn't count on that. Just my .02!!

SRS

Nice call, Just bought in for my first time @ $88.92 :) Thanks!!

DCR

Back in @ $8.90

Financials

I'm short Goldman and thinking about Lehman?? With the amount I have in SKF I figure any one dropping should pull the whole sector with it!!

DCR

I think i'm gonna wait till $110 oil

Gold looking NICE!!!

John

If it goes under $95 we'll just hold on and add some more, if it doesn't you can jump right back in without missing out on much. As long as we stay focused on the long-term outlook we'll all be fine :)

MDP

12,700 is still the magic number IMO, it's looking as if we're gonna open in that area so i'd think that we pull-back?? As for WM, i've been tempted to short individual financials but haven't pulled the trigger except for GS. The ups and downs are just too violent but if I had too i'd be short not long, plus it's run up from $8.72 so you'd think we touch that level again??

WOW MDP

I just bailed @ $9.96 & was coming to post it here!! Too much chatter about Iran to risk it. Little over 1% loss.

Good Morning to you too!!

SKF

Added @ $100.20

SKF Poll

This is our week boyz!!!!

TTYL

I'm heading out guys. TTYL

Joe

Short Interest

Awesome link Peter. I posted it on the blog!!

Suggestions for links

There are a few new people on the blog and I was wondering if any of you have any links that you'd like posted here. Just leave the link in a comment and i'll add it for easy access for all of us.

Thanks,

Joe

Not bad

Nice $3 pop at the open here :)

The article

I just tried and there must be something wrong in the link?? Anyway you could post it GoldFix?

Anonomous posting

Had no idea, i'll fix that. I had no idea you guys had to do the word verification. I apologize!!

Article from SWATTSUP

http://www.contraryinvestor.com/mo.htm


Corrected link!!

OMG I am soooo sorry

I was playing around with the settings the other night after that Bopper moron started spamming the blog to figure out how to delete posts. I guess I made it so only members could comment. I don't even know how to make someone a member?? Thanks Peter & Swattsup for bringing it to my attention. It should be all set now!!

It's finally Sunday :)

Well one outta two in the games last night!!

According to all the technical guys, this is the week we start our climb back towards $1000! It all starts tonite in Asia, good luck to all!!

SWEET!!!!

Big win in the first game :) Carolina second game!!!!!!

Final Four

Big Money on Memphis tonite boys!!!!!

New poll

Was watching the new George Carlin special on HBO, absolutely hilarious!!

Curious as to who you guys like the best out of these four??

Ron

Awesome video, thanks :)

Home Depot Tom??

If we're at the top of the range like I think we are then Home Depot is a perfect stock to short.

Should be able to get it down to the $25 area JMO

DCR

Thanks for the heads up, i'll look into it further.

Tom, I'll basically add @ $108 & $110 price of oil, until it reverses. I had it last time we were at 111 & DCR was $8.45, it ran up to $11.80 by the time oil got under $100.

I do the same with Yamana & Silver Wheaton quite often once they get overbought.