I Couldn't Afford a Subject
Love Actually

I remain very optimistic on the PM sector, regarding the current malaise as healthy base building prior to an upside breakout.

OTOH, maybe I'm wrong?


(Holiday) Weekend Update
Love Actually

Me likee gold, silver, and their miners.


So does that Rhymin nut.

Hopped out of SLV calls
Took a 25% gain, and of course now wish I would have taken the 60%+ on Thursday or Friday.  Feeling iffy about where silver goes from here, so took my small option profit and will look to reposition when the dust settles and the USD DCB peters out.  Of course, that could happen overnight, but something's telling me we have another down day or two. 

As spot gears up to break through $35 tonight, my bet is that a correction comes right around $36 spot.  Accordingly, I'm looking to jump out of my calls in the upper $35's. 

All in!
I just sold my remaining equity positions. Booked 23% profit in GLDD (over 18 months), 20% profit in CMI (over 18 months), and an additional 7% profit in CRUS.

Usded proceeds to buy an additional 1800 shares of PSLV @  $14.16.

Now sitting at 72% PM, and 28% cash.

While I'm still watching for that occassional trading oppurtunity in equities, my PM position is staying put. With todays FED announcecment, I'm looking at silver and related PM positions as likely three baggers over the next few years. By likely I mean something like 51-49 odds.


Started small position in GDXJ
In at $23.94, plan to continue to add

Took a chance and reloaded some SLV OCT $33 calls this morning at SLV $32.06.  Thanks, Bennie B!

Hey Rhymer,

Did you check the MWW chart?  Up another 11% today.


Closed the rest of my SLV calls this morning
Might come to regret it come Thursday, but didn't like seeing us recoup yesterday's gains overnight only to have them start sliding again this morning.  Got out of all contracts with SLV $.10 to $.25 above today's close, so at least it was the right decision for today.  While I was, of course, hoping for more, banked a nice profit on all contracts.  Feel like there's more downside risk in the immediate term (next several days) than upside, so will sit on my core physical holdings for now and see what happens over the next couple of days. 


Closed a few calls
Closed a few SLV calls today, still holding more than 2/3 of them, but up 90% on the bunch as a whole, and felt it would be somewhat insane not to take a bit off the table.


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