No 10 baggers here, yet!

Where can I start? So much has happened since the March 2020 Covid lies changed the world forever, and not anybody can show me how it did so in any good ways! Moving on, it’s been awhile since I posted, I’ve just been focused on other things, and this site was only intended to be a side project to show people how one guy makes his living trading the financial markets. I have so many topics to cover that it can’t be done in one long post, we will talk about them over time if you will allow me to catch up?

First, let’s touch on the markets. Of course, the S&P and Nasdaq continue to make all time highs, same as far as anybody can remember. It’s beyond ridiculous at this point! What prompted me to make a post today was yesterday’s FOMC meeting, in which the dinks at the Fed surprised the world, saying they will have to raise rates sooner than expected. This is comical for many reasons, first is that just the last few weeks they have tried to re-assure the markets that the exploding inflation we see all around us is only “transitory”. That might prove to be the case eventually, but at this stage nobody can know, furthermore, its directly contradicts the FOMC’s statements today where they feel a need to raise raise and slow the economy (and inflation). Which is it, boys and girls?

So, the markets being as dumb as always, took the Fed at their word and decidied to bash anything commodity related, you know, because while anything tangible is going through the floor towards zero, somehow the stock market and all the companies that deal in commodities including darling Amazon will continue to make gobs of money no matter what. It make no sense whatsoever, stocks and commodities should at least trade together on news like this, but markets are so manipulated now that the S&P could double by December while copper goes to zero, and nobody would think twice. it’s gotten that ridiculous!

Another event I haven’t touched on yet is the WallStreetSilver crowd over on Reddit. These guys and girls are depleting the physical silver inventory faster than anything I have ever seen before, yet silver can’t break above $28? In fact, its still about 50% below its 1980 high, while every other commodity I know of is multiples higher than their 1980 price. Keep an eye on WallStreetSilver (WSS), they are going to so some serious damage to those central planners that think they can micromanage every little tick. I first stumbled on the forum when there were on 20K subs, now 3-4 months later it just passed 116K! Go take a look at some of the “stacking” these guys are doing, they are certainly dedicated!

So the yesterday the FOMC said they MIGHT raise rates sooner than expected, and even though everybody should know by now they are full of shit and change their minds at any moment to suit them, they convinced the markets to sell, sell, and sell some more, but not just any markets, only the commodity markets, as the Nasdaq worked to new highs again. I’m not sure how much longer the world will take this blatant manipulation, but my bet is it wont be long, hence groups like WSS springing up and growing like gangbusters.

That leaves me with my positions and prognostications. For the record, I am still heavily long and on margin, though not maxed out. I did manage to sell my big-cap miners via etf GDX and its LEAP options a couple weeks ago, but that only amounted to about 12% of my holdings, keeping me too invested for the beatdown I was delivered the last two days. Do I think they can push miners and metals lower, they could. Do I also think this is just more hanky panky that could reverse soon, it could. So I am happy to report that I haven’t been forced into selling anything, nor will I elect to sell anything into such pervasive weakness. Instead I will wait for signs of stabilizing, and then look to add to positions while they are cheaper. This is being painted as a risky maneuver now, being the FOMC worked their darnedest to convince us all that they are going to tighten, for REAL this time! LOL!!! Do people so easily forget we just went through this a couple years ago, the Fed tried tightening, even managed it a few times, before they turned tail and ran, lowering rates in a desperate move they thought was justified by a surprise we all saw coming ahead of time. Here we are again, only this time with much more debt and the same problems, and it should be minus some credibility, but I suppose people without finance degree will always be intimidated for no reason at all by those who do.

I am heavily long silver and gold miners, as well as a little uranium and copper stocks, and will remain buckled up for a further test of my fortitude. Its gets easier with every lie they tell us, I know how it ends, I just don’t know when or how far they can hurt us before we are proven correct again. Lest anybody think I am whining for my losses, check again, I still maintain decent unrealized profits despite a two day thrashing which has cut them back substantially. I’m not worried, I am looking for the next best time to add to my winners, and the time is near.

I have mahy charts to review with you once we get into specific positions in the following posts. I just wanted to get back in the flow and make a brief update. There is no shortage of material these days, thats for sure!