Manitas de Plata

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    • Wed Mar 19th 08:47 AM | Rating: 0 0
      Commented on:
      The Fed’s Latest Rate Cut: The Song Remains the Same
      The Fed's actions seem so ridiculous, futile and stupid, that one can only conclude the plan is a deliberate destruction of the U.S. dollar and everything that goes with it. My one line description of the Bush Administration is "Malicious intent disguised as bumbling incompetence."
      I think the Fed can be safely described in this way. Place bets accordingly and hope you come out of this with one shirt and a roof over your head.
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    • Thu Mar 6th 22:20 PM | Rating: 0 0
      Commented on:
      Gold Pulls Back - Is There a Deeper Correction Ahead?
      Good point Golden Oxen. Taking profits now could be very dangerous. Then what, sit on depreciating cash? I took short term profits on the move in silver from 12 to 14 and had a very difficult time getting back in while waiting for the correction that never came. No doubt, the metals will shake out severely, but then getting whipsawed by silver is easy. Remember the words of Pigeon from "Reminiscenses of a Stock Operator" " It's bull market!" time to reread that chapter. Better to sit on your hands and be up 100% in a year then overtrade and get shaken out.
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    • Wed Mar 5th 22:21 PM | Rating: 0 0
      Commented on:
      Silver: The Last Great Thing - For Now
      CDE used to trade at a parity to silver during the run from 5 to 7.50 or so, then it tanked and has never recovered, they couldn't make a profit when silver finally broke out above 5 and apparently they still can't.
      Physical silver is sort of a pain to deal with as 1000 ounces weighs around 80 pounds. A mix of both physical and ETF is nice, physical makes it easier to stay long since it is such a pain to sell. 100 ounce bars don't have much of a premium (7% round trip or so), the ETFs are extremely easy to deal with. I think Everbank has assigned physical if you are paranoid.
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