To expand on my recent post about Gold & Silver investments [see February 27, 2008 post], I keep the asset class percentage between 5% and 10% of my Krypto Fund. During the recent run up in gold and silver prices and concommitant decline in stock prices, that percentage went to 14% - maybe more as I don't check allocations daily. So as posted, I am selling as fast as possible to get that asset class size down. Physical gold and silver must be sold slowly or the weights and $ amounts can overwhelm me for former and the coin dealer for the latter. So I've been selling for weeks while the price continues to rise. That is good !
Thinking about this situation, the fact that gold and silver are now (1) at my long term price objectives, (2) generational highs, (3) and have parabolic charts, I now intend to cut my gold & silver allocation to 7.5% and may cut it to 5%. That means a lot more selling - weeks even at triple loads per week. But at these levels and the news and public interest, my instincts tell me to sell a lot more.
I'll be buying stocks with the money, more banks plus high quality industrials with large export businesses and perhaps some transports. And some municipal bonds if prices are right. But Mrs. B's broker said that the public is waking up to these municipal bond prices. We were going to buy some more, but they were sold before she could give the OK.
Words of the Day - "A" Words
"Ascribe" - verb [$10]; and "Ascription" - noun [$10]
(I read the term "ascription" in my book about Byzantium yesterday and thought I knew the meaning, but did check and neither this word nor "ascribe" was in my card file. I probably knew "ascribe" as a young man, but thought I should add it to the file now as the root of "ascription").
Ascribe means to attribute to a given cause, source, or origin; 2. to assign as an attribute.
Ascription means the act of ascribing; 2. a statement that ascribes.
Sentence: Political advertisements must by law contain an ascription regarding the payor.
"Asperity" - noun [$10]
Asperity means 1a. roughness or harshness, as of a surface, sound, or climate: the asperity of northern winters; 1b. severity, rigor; 2. harshness of manner; ill-temper or irritability.
Sentence: As the race between Obama and Hillary approaches the convention still practically tied, Bunkerman wonders if they will show increasing asperity in their comments on each other.
"Assiduous" - adjective [$10]
Assiduous means 1. perservering, hard working; 2. attending closely.
Sentence: "Marx was quite assiduous in that he was not a philosopher." from "Great Ideas of Philosophy", part 4, notes pg. 33 under Marx.
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62 comments:
Bunkerman does a possible TMA bankruptcy concern you? or is it perhaps a positive going forward, as the capital markets sort out the winners from the losers...
no. that's one of many firms that go under or close ... it's part of my theme that the big banks get more business as the weaker ones go away.
From a diferent angle, the UBS fire sales are good, too.
TMA 1.30...worth zero perhaps, I sure wont' fall behind on the position...Bunkerman, their book must have some value, yes?
Bunkerman...congrats on the hildog call...I realize Bud should be humbled my your view of future events, that forecast was spot on sir...he should spend less time pissing in the wind and learn a little something from you, but his ego is out of control...youth is indeed wasted on the young...despite all that has been written on the subject here, he still believes that I object to the hildog nomination...hell I welcome it....kids.
i get the feeling these commodity markets are getting ready to dish out some pain.....lots of pressure building there....a lot of equity guys suddenly trading commodities makes for a scary proposition....what say you bunkerman/frosty?
disclosure: short some DBA
there should be no place to hide and I have been in front of the DBA since 40 and wrong, SMN can't seem to stay ahead, taking several near breakeven stops...crowded indeed sir imo...chasing higher here not my style...near term, dip buyers will need to get touched up like late party arrivals, give me two beers and a shot, need to catch up.
then again, I thought the last time silver traded above $20 it was doomed as I was selling my childhood coin collection...silver proceeded to $50.
odds big Ben comes in with another "emergency" cut?
yes good point Frosty...the commodity bull could just be gaining some steam now...I am looking for flips only on the short side sir....gold is still going to $2500 ):
agree re commodities, mfl.
re silver, we later found out Hunt's were trying a corner.
If it keeps going up, fine. I'll still have plenty to sell.
paid 95bux for myself with newspaper coupon
112 for four
lmaooooooooooooooo
as I said the other day...if you rum omp you best be long stuff from the sale of fins in Q1 or you have a strong desire change careers...it is late party arrivers until Q end playing a game of chicken with one another so qiuck hits make sense to me...Q2 sees the fins bailed then the trade worm turns testing confiction of the pat 08' hand...a good bear cycle makes a fool of the majority.
MLF59...Spinny MIA...think he stopped to smell the roses?...perhaps he made the best trade today.
Dear sal,
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Contribute now to help us reach $3 million in 24 hours.
Millions of Americans have yet to speak. In states like Wyoming, Mississippi, and Pennsylvania, people are watching this campaign and want their voices to count. It's up to us to give them that chance.
That means keeping this race competitive. Thanks to you, we cut his four-to-one advertising advantage in half in March 4 states. Now our next step is to quickly replenish our resources. We don't intend to play catch-up with the Obama campaign.
With your help, we're opening volunteer headquarters all across the state of Pennsylvania before the week is out. We will launch a campaign ready, willing, and able to reach out to voters all across a state that now finds itself at the absolute center of the 2008 campaign.
Help us kick off our Pennsylvania campaign by reaching $3 million in the next 24 hours.
Contribute now to help us reach $3 million in 24 hours.
This nation is coming back, and so is this campaign.
The speed and energy with which we take advantage of our regained momentum is up to you. Thank you for being there for me. I promise in the White House, I will be there for you every day.
Sincerely,
Hillary Rodham Clinton
i really don't understand the fascination with C
it's garbage
their balance sheet is a sham
it's finished
what about the 'wrong way beefers' on commodities?
i thought you guys believers in that theory
"i welcome the hildog nomination"
gimme a f'ng break
don't try that crap with me frosty
you have been in mourning since tuesday
more proof that frosty is a pussy.....he won't admit what he really wants.......he wants obama to crush hillary
the reason republicans are terrified with Hillary
GOP is 0-4 against the Clintons in elections
they have tried everything......GOP has NEVER beaten them in an election
and they NEVER will
PS........Hillary sodomized the GOP in her 2 elections......landslides
poor frosty
lmaoooooooooooooooo
sold RIO, FCX, PCU, SU, MRO, BTU, BHP.
Keeping DVN, CVX, RIG, DO, CCJ
Clearing out some older positions in resources to concentrate on what I like longer term. I don't think I can make a further 30% on the ones I'm selling.
I'm focusing on the deep water oil resources where the big find can be made for next few years.
sold VLO too. Tired of it.
typical yonng liberal behavior, offers the olive branch then swings it like a club...as I reach accross the isle my fingers are bitten off...Bunkerman, perhaps taking your son to the wood shed sir for some reinforcement training instead of chasing farm animals is in oreder.
Last time he ran away from home, not to be seen for weeks...here kitty kitty.
TMA flipped half 1.43...stop the rest 1.33.
going to dentist :-((
back later.
TMA raised that stop to 1.53.
the boys are going to have to fight hard to hold 1310 SPX going into tomorrow's job number...
Gore invests $35 million in a hedge fund...how much is that bloated fraud worth? sheesh
die beefers die!!!
MLF 59...check out the SRS...looks like the SKF breakout four days ago...short term indeed sir,
good eye indeed Frosty....I am short some of the VNQ...same sort of formation.....minus the juice....
my guess is the beefers break any logical "level" to rip stops, etc, technicals, then cover as the panic hits with volume.
That's their MO in commodities which is what the stock market has become.
Going to Costco to spend $.
odds of a surprise rate cut? about the same as Bunkerman saying no to the novacaine while he enjoys his canal.
I don't see a surprise rate cut.
But beefers are stil trying to create a panic.
i really am tryin to control myself
look at the chart of the SP 500 last 6 months
i think this is more than just 'beefers creating panic'
but....i'll be polite
"serenity now!! serenity wow!!"
Dear Sal:
Send money...LMAOOOOOOOOO
What kind of number are we looking at for tomorrow men? if the economy lost over 70k jobs, are the old lows in the SPX within reach?
Bman do you really think "beefers were creating panic" in TMA? do you still really believe this is "rich man's panic"?
i hate to rehash
but i made some comments about american banks recently......i think that is playing out
serenity now!! serenity now!!
i think the question is.......do we get the 'emergency rate cut" at 9am?
Ben headed to Kiawah for the weekend....prolly wants to enjoy it in peace
Ben off the first tee with a putter...he will be playing the entire round round with his manhood on full display...good things come in small packages my azzzzzzz...Bud, case in point.
if the rocket is done...I have a feeling frosty might get a call up.
Bud is your boy Mr. G still recommending option ARMs for first time homebuyers? what a douche bag he is....
if Ben is able to clean up the mess mrG left him with
he shud be reappointed for life
option ARMS
pffffffffft
the kids in frosty's neighborhood call him the 'rocket'........they can't get around on his fastball
of course they are mostly 5 and 6 year olds
No one on CNBC yapping buy the dips sells the rips this afternoon...margin clerk line #1.
I wonder if NLY gets some defense overnight...especially from that loud mouthed wrongway fade of a man....jimmie....
disclosure: I am going to buy some calls...small...just a taste indeed
I don't follow TMA. But the Street gouging on margin is nothing new. BSC lost a huge case a few years ago doing that.
btw, TMA is not a "bank" - its a finance company.
Time will tell. I re-consider my thinking every day. If I see "facts" that challenge my views, I would change.. But all I hear are the same rumors and "market says xyz" nonsense. And "unknowns" on and on. Just witch-doctor crap.
Panic and margin calls beget selling in MBS, tat drives prices down and begets more panic. But the actual losses on the loans just aren't that bad. Market writedowns from panic far exceed expected actual losses.
I've lived thru this before. maybe "it's different this time", but I doubt it.
Spinny picked a fine day to learn about some of the finer things in life, like flowers...
I think this started when Bud turn positive and I heard Michelle on CNBC say to expect late buying some day last week lolol.
btw, the big down days seem to all start in Europe.
so what u sayin Bman?
you want me to start pounding the market and the economy again?
"is this a re......
lmaooooooooooooooo
Bud do you trade anymore?...or do you just pkay golf and talk crap?
lmaooooooo frosty
my name isn't mern......or zeta
banks can borrow from the Fed; investment companies cannot. neither can securities firms. That's why I buy the big banks - the fed wants them to make money.
I see Fitch says Alt-A RMBS deterioating - those are the speculator liar loans going under water, throwing in the towel. Why would that not be expected ?
TMA decided to turn it into a house money lotto ticket for now...thanks bunky.
naturally that was put out right before the close.
Nahhh, my evil thoughts can't be ...
MLF 59 check out the $VIX...SKF then SRS is the $VIX third times a charm for that pattern...they are so similar it's spooky...talk me down here, it can't be that simple.
JPM is getting near an add point, but I'll wait awhile.
Bunkerman...I would keep some powder dry and wait for those 10k's.
Funny Frosty, I was thinking the same thing.....scary indeed sir....
Ben prolly lurking with some 100bp cut nonsense...
CMO up a bunch after hours...wonder whats up there?
CMO I see no news...it was a buy by a blog with a large following...Hal is known to hammer that guy...margin clerk job complete perhaps.
I can practically see Jimmie drooling to pump NLY....its run by your boy Mikey Farrell for crying out loud...one time jimmie...come on sir....
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