Selling some stock only to have some liquidity
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Me too!
Big Al
A joke for your rehabilitation:
Final missive
You can make lemonade out of lemons.
If you split a lip you can make things happen.
If you hurt your back it need not be a bad thing.
To illustrate the above you are required to watch the following inspiration. Tell me if you are not somehow moved…..,to wit:
http://www.youtube.com/watch?v=TFmkdU4bOxI
Everyone was so slender in those days. I am in my 50s but feel even I should keep myself in shape in case I am called for duty to defend my loved ones ond my country.
Dan
Thanks Dennis M!
Jimmy Stewart was great!
Big Al
IMHO, this selling should mark the bottom.
Certainly hope so!
Big Al
My feelings now are that anyone in the middle class, with any capital left, will soon be sucked down the drain. The ultra rich and the totally broke will be all that remains. One can dream all he wants but if you are not one of the ultra rich today, you never will be, the American dream is DEAD.
bobby…..I think most americans are asleep at the switch,,,,,most, have done this to themselves, with being suckered into debt……and wanting something for nothing…..Some, have worked very had,,,,and saved, and now are being ripped by the people who they have elected……A trusting lot we have been,,,,,,now, the powerful, are even more powerful, But, I do not think I would want to be in their shoes, when the sheeple find out the lunch money is gone…….oh,well,,,,,,,
Is it a sucker to be in debt? (I am not in debt by the way.)
The government is the largest debtor so they will do whatever they can and get the central bank to help them to stay in debt forever. So is following the money and doing what the government does such a bad idea?
Perhaps it is a bad idea because no-one will print money to lend to us at near 0% like they do for the government – but surely these powerful people are doing everything in their power to increase debt and leverage in the economy.
Even so, personally I like the idea: “Neither a borrower nor a lender be.”
the govt…should not be in debt…….and yes ,,,,the bible is very clear on debt….”go and own no man”……proverbs….and not a lender, but, a giver, and expecting not to be repaid……If, you are in debt, you are a burden,and a burden one should not be,,,,and the govt. is now a burden, and trying to take everyone that will follow….
Very good point, The Tall!
Big Al
Good point The Tall
Big Al
Really hope you are wrong Bobby.
Big Al
Liquidity is always good my question is are you looking to raise cash for living expenses or because you are looking to buy something later at a cheeper price. If the latter what stocks/metals?
Bobby……
“How soon will man find wisdom in his heart, and build a lasting shelter against his ignorant fears?” The answer to this question is never. Human nature and utopia are mutually exclusive. The American dream is a continuous struggle. Certain times in our history it could be said to have been conquered but the storm within man…within Americans still continues. We do not want to end the storm because to do so would be an end of human nature. To end the American dream…to permanently quiet the storm would mean man is extinct. Until such a catastrophe the American dream is alive and well with much to do….let us hope always!
http://www.bing.com/videos/search?q=mortal+storm&view=detail&mid=C152D4172B88719E420CC152D4172B88719E420C&first=0&FORM=NVPFVR
I do have a lot of hope, Dennis M!
Big Al
Hi Big Al,
Hope you are well soon. Having cash at this time is a good idea, because then we can pounce on a good deal. Best to all.
Many thanks, Keep!
Big Al
Best wishes for a speedy recovery.
The problem with going all in. I am all ways 30-40% cash.
har
You typed : “The problem with going all in. I am all ways 30-40% cash.”
har…you are always all in…it is just a matter of allocation
If your cash is the equivalent of a money market then Al could take in some of his $14
silver rounds to become cash liquid. I am sure his stacks of rounds at $14 cost basis have out performed your money market or cd’s. Al is selling stoc
har dee har har
Remember the guy that critisized Al when he bought that silver? The guy went short silver because Al went long.
Hang in there Al.
Dan
Hi Calgary,!
He who laughs last usually wins.
Big Al
My cash is spread over 11 currencies.
Which of those 11 currencies has outperformed silver and/or gold in the past decade.
zirp has delivered you less than zero when you figure purchasing power.
Now har if you tell me you actively trade Forex between these 11 fiats then so do I.
I trade the forex with the same funds I have allocated for lift tickets, green fees and black jack.
har dee har har
Past decade. How about past 2 years?
Why look at a 2 year chart when your words were “I am all ways 30-40% cash.”
Al’s purchase of AG at $14 have more than doubled. Meanwhile USD liquid cash positions can yield you a double in about 72 years. What about the bag holders holding cost basis sub $5.
Where have you been able to invest a cd and quintuple your money in the past few decades. Your the one who “always” is at least 30% liquid. That tells me you have committed 1/3 plus of your invested assets in one of the most underperforming sucker bets of all time….the instruments governments use to steal the real stuff from you.
har dee har har.
Yes he is, Dennis M, at this time.
Big Al
ADP payroll numbers decent. gold always gets whacked after the payroll and unemployment report is released, today is no exception. once again trying to hold on to $1570, now key support. all the pressure is to the downsize. Fridays February job #’s are going to be big. should show the same steady progress and gold could get crushed…
payroll numbers, are being adjusted for the 35 hour work week…….
Eric Holder is in front of the Judiciary Committee today.
http://www.youtube.com/watch?feature=player_embedded&v=R-q7DNPOwQQ
might be interesting.
What is he doing there?…he should be in jail…with keys in the Potomac.
Holder ,obama, and the shorts…..all need to be in jail……this is a group of thugs,,,with nicely pressed suits……wonder how they like pin stripes…..
Gold up 0.42% but HGD (Horizon Gold Double Bear) is down 4.45% from an overbought few days. Maybe a signal of smart money realizing that a base is forming in the PMs.
Dan
Interesting that Jay Gallemore has marked “top” on his USD chart (about 7th chart from the bottom). When he marks “top” or “bottom” he’s usually right. We know what that means for commodities, yes?
http://chartingyourfutures.com/dailyworksheets.htm
To hear audio click “hotline” at top of page.
Irwin……did you notice on the gold chart……”Barclay ,withdraws from floor trading”,,,just thought that was interesting…..first time I have noticed or read that….
btw…..thanks….great charts…..
I believe the dollar is about to head down, and will be shifting my remaining few percent of liquidity into euros. I am, however,
almost fully invested in the stockmarket , predominantly , but not exclusively PM miners.
2cents again
CFS,
Have you looked at Brazil Resources? They are sitting on A LOT of gold (millions of ounces) and some awful big players are invested there with Amir Anani (?) (UEC, CEO) running the ship. Investors: Rick Rule, Doug Casey and the Encompass fund. Just curious. It is holding its own in this brutal market. I have a modest investment. I do plan on upping it a little here soon.
$ super strong today. All the $ bears (including myself) have been taken taught a lesson, thins aren’t always as they appear. The obvious is always wrong.
CFS,
Yikes!!!!!
Rand Paul Goes to Washington and takes on Jimmy Stewart role of Mr. Smith…Live..
fillibuster
Have you got gold? Really? Can you touch it? Can drop it on the floor and hear it go ping?
http://www.youtube.com/watch?feature=player_detailpage&v=rIruCBopmfo
Tick, Tick, Tick
QE cannot be big enough. Think about THAT!
CFSm
Double Yikes!!!
Great Filibuster, Rand Paul, and making sense not just reading out of a book. Bravo.
exactly……BRAVO…..BRAVO….BRAVO……I hope he keeps it up for a week…….
He reminds me of Senator Robert Byrd.
Below is a speech in regards to the Iraq War a classic agreeing a lot with Sen. Paul.
http://www.youtube.com/watch?v=zeAFb5p2qX8
His classic filibusters were filled with rich recitations of Roman history. There exists no better histories of Rome written when compared to the Senate record of his speeches thereon.
I would of never voted for the man. I disagreed with countless programs he and Ted Kennedy forced through. I could listen to Sen. Byrd on occasion..not so much Ted.
RAND ……GOING ……GOING…….8 HOURS…….,,,,,,
At a time of Sequester, when TSA officials are being laid off, I wonder why they are going to get new uniforms?
Brown shirts?
In the tradition of Mussolini, I wonder!
Another $50 million of waste.
Selling Premium Exploration to raise liquidity? At less than $400 for every 10,000 shares sold, it’s a questionable move. I’m thinking that there is concern here that the “Fat Lady is about to sing.” Sure hope I’m wrong.
Clark
Just thinking about har/dennis discussion, I think Har is right with 30-40% cash he didnt take the puonding the rest of his in resources did, saved some coin there I would say. Also, there have been opportunitys for some quick doubles over the past 2 years, some available cash made them easier to take advantage of. But Dennis is right as the currency devalues. Anyway, to itch his own,I itch my own.
benb……that could be a” scratchy situation.”….
yes 1.4 quadrillion in derivatives. this will all be swept under the rug. we all know where the bones are buried. many people are banking on a utopian fantasy world where everything crashes and we wake up and gold is 10k or 20k per ounce. it aint gonna happen. when the derivative market comes crashing down get a gun and a cabin somewhere. no one is going to be trading gold. the new world order (anti christ) will have another system, the mark of the beast.
James, if I didnt know where you get that from I would have to ask if you are nuts.
You might be right tho.
The number 1.4 quadrillion is a BIS number.
I think kwn is so predictable now that all a person has to do is say”kwn” and it means PM to the moon any day now, lol.
The most right person I can think of was Ann Berhart I believe, she said “just get out” about 2 years ago,
Ultimatly the correct move was sell everything silver at about $50 and gold @ $1900.
Unless you consider PMs as insurance of course.
And that correct move would have required not listening to the “experts” ( other than Ann) as well as kwn. That being said I like kwn and read experts all the time.
benb…..I must have missed her mentioning to sell gold…..or silver,,,,,I remember her saying ….get out of paper…….because of Corslim……..
I didnt mean to imply that, I only recall her saying get out of the markets, its me saying that it would have been a good idea to sell silver at about $50.
ok,,,,I get it now,,,,,I just did not want to miss something…….I DO ENJOY HER STYLE….CALL IT LIKE YOU SEE IT…….I think I am going to write her name in for PRESIDENT(Ann B)…..if Hillery decides to run…….
Yesterday I received an e-mail from the CEO of an excellent junior silver producer which I’ve owned shares in for many years. He pointed out that despite the big hit his and every other silver producer’s stock had taken on Monday, that their company was doing just fine, thank you.
That’s no surprise, of course, as it’s a terrific company…but he picked the wrong moment to e-mail me, as I was still thinking about the tirade I wrote about the precious metal mining companies in ‘The Wrap’ section of Tuesday’s column. If there ever was a case of being in the wrong place at the wrong time, this was certainly it. Here is my reply…
Hi Xxxxx,
Thanks for your kind e-mail this morning.
I know that your company, plus others, are selling for ridiculously low prices.
However, I’m not allowed to comment on any one company, as I’m not an analyst. You’d have to take that up with Jeff Clark or Louis James.
I know you read my column every morning, so you will have noted that the entire sector is being abandoned by the investing public…and has nothing to do with your [or anyone else’s] assets in the ground…or your excellent company-specific news.
The issue is that the mining industry will not deal with the real problem out there…which you know about all too well…and that’s the outrageous short positions held in all four precious metals by a handful of banks…JPMorgan Chase, Bank of Nova Scotia…and HSBC USA…..plus a couple of minor players. Note the attached “Days of World Production to Cover Short Positions” chart.
If those obscene and grotesque short positions weren’t there, the prices of all four precious metals would take your breath away, as they would be many multiples of what they are now…and we wouldn’t be having this discussion, as the mining companies would be talk of the town…and the executives of same would be like gods. As a cursory glance at the chart will show you, these outrageous short positions exist in only four commodities…the precious metals…and your metal in particular, silver.
You, or a group of silver mining companies working together, are going to have to bell this cat sooner or later. This is where your real fiduciary duty lies…and I know I can speak for all of your stockholders, the real owners of your company, the sooner you get started the better. And if the idea of confronting the “will of Mordor” is too much for you or the industry, there are other ways that you can make a difference. Withholding production or buying into offerings from Sprott or Central Fund of Canada would be a good place to start.
I’ll see you at the Vancouver conference in June.
Ed
P.S. I still own your company’s stock…but on the next major rally, I will be looking for the exits on virtually my entire portfolio, as I’m appalled by how badly your industry has sold their shareholders down the river. I’ll buy the metal itself with the proceeds. The investing public shouldn’t have to put up with sort of crap…me included.
Poor guy…I’m sure he wasn’t expecting an answer like that. I guess that’s why I never heard back from him. But it had to be said…and more stockholders should be saying it to every company executive they can find. Most mining companies have a toll-free number…so you know what you have to do. So give your best Howard Beale impression while trying to remain polite and civil.
This was sent to me from Ed Steer, its an idea.
I say,,,,give them what they deserve……
Au and Pt just inverted again!
In case you did not notice there was action in uranium stocks today, even some dogs started barking. e.g. Bayswater was up 40%
Pound hits 1.5$us on the nose.
http://usawatchdog.com/u-s-already-in-technical-default-gregory-mannarino/
Hey Al, find a comfortable position, put on a great movie you haven’t seen in a while, swallow a hydrocodone, and take it easy!
I think having some liquidity is a great idea right now…lots of good deals sizing-up.
The Rand Paul filibuster is fascinating….hoping it is not a circus.
Cruz is impressive. Paul insightful.
fillibuster
http://www.c-span.org/Live-Video/C-SPAN2/
Reply to this comment
And the filibuster continues tomorrow.
Selling losing positions for the stock loss is the way to go.
You get out of a position that will take the same amount of time that an equivalent miner will rise in value.
Book the stock loss for future gains and reposition.That way you can take advantage of the bankster rout and shenanigans.
By remaining very “liquid” your back would not hurt so much.
Cheers to liquidity!
I am ready to pounce.