Down goes the Dow

Racket wrote:This is why I don't play the miners anymore. They're run essentially by the mafia. It's like investing in waste management or 95% of construction companies. All mafia run.

This is nonsense. There are some bad eggs in mining for sure, just like in any industry. I’ve worked as a consultant to many mining companies, including several majors and a handful or two of juniors. Nearly all the people I’ve interacted with have been upstanding good honest people. The a$$holes among the group represent a similar proportion of people I’ve met most other places.

To be fair, that was true when, in Canada, there were many listed on the VSE, which was dismantled and rolled into the TSX Ventures. It had a bunch of small-caps into many different things, among them gold, and kimberlite diamonds. I also did some consulting.?

IDK how many of that old crew remain, and certainly funds like those I own are broadly diversified—but some people still experience a bad aftertaste from the whole scene.

What Racket said was true, I mean.

Gold has punched through 2k, silver is good, and...

...my funds are taking a beating today.

Paper rules the market.

Kowa-Bunga gente wrote:

agip wrote:

but gold! +40% over 52 weeks.

(Tech stocks are up 50%)

I find it interesting that no one here is talking about silver. SLV about to go parabolic; call open interest of 5766257 and put call ratio .3.

Maserati wrote:

I am in GDX and GDXJ, which miners are into silver, among other metals. They have already risen in direct response to earlier moves in silver.

I sold my single position a little while earlier this morning in GDXJ at break even. Bought more triple leveraged Tech. Checking their relative performances, tech has been making me my gains, so sticking there. Every time i've tried to buy prec. metals, i hold too long.

I am tempted to do a 3x tech, and keep it through the election.

Which are you in, and why? I wouldn’t put too much into it, only the proverbial “amount I can afford to lose”.

the idiot wrote:

Racket wrote:This is why I don't play the miners anymore. They're run essentially by the mafia. It's like investing in waste management or 95% of construction companies. All mafia run.

This is nonsense. There are some bad eggs in mining for sure, just like in any industry. I’ve worked as a consultant to many mining companies, including several majors and a handful or two of juniors. Nearly all the people I’ve interacted with have been upstanding good honest people. The a$$holes among the group represent a similar proportion of people I’ve met most other places.

Unfortunately the aholes are running everything.

TECL mostly, and a little less than half that amount in TQQQ. I just look to make sure they trade enough shares to ensure liquidity and low fees. The fees for 3x funds hover around 1% and that's a given.

There's a few differences between the two but the big, obvious one is that one is Tech and the other is Nasdaq 100 (predominantly tech, but not all tech.)

As for your decision, repeating what i said before, i like to build the position over time, let winners ride, and never double down. As for tech in particular, i have been thinking about your question from a few days ago and my belief is that there is substantial upside still. Watch the pull backs. There just aren't many: Significant.

And those that do happen, quickly find a recent level they traded, quickly solidify, and rebound fast from there. My take away is that everyone and their brother wishes they were in it, are buying it up however reluctantly, and are having wet dreams over finding a good entry point somewhere lower. Pent up demand will keep this sailing.

Of course, there's always some risk,

Good luck to you, but i believe the answer to your question is right under our noses. Hiding in plain sight. And i would just have a good exit strategy thought out and ready to implement should you need it.

I haven’t watched CNN in maybe 15 years, because it became unwatchable.

This thread made me curious, so I just tuned in for 4 segments of CNN Newsroom:

1) Trump addresses Whirlpool employees in Ohio—all about how Trump is tone-deaf

2) Long Beach mayor’s mother allegedly dies of “covid complications”—all about a personal justification for more state power to deny ratepayers their essential utilities

3) Michelle Obama self-diagnosing as “mildly depressed” due in part to the Trump admin—all about how she personally doesn’t like him, and that the hosts don’t like him, either

4) Sanjay Gupta advocating a national mask mandate—all about how Trump has failed to take power from the states and concentrate it in the fed.

It remains unwatchable, with the over-the-top pained histrionics of the host.

I may have overestimated agip. Anybody who could consider those kinds of things “news” is out of their mind.

How’s that for a simple declarative statement? I am saddened, I hoped for better. No different than John Oliver, except for the absence of profanity. Actually, based on those 4 segments of that one show, it’s much more overwrought than it was 15 years ago.

Much more.

I should say that it is eminently watchable and instructive if your aim is sociological. Such material, it’s golden.

agreed that CNN is not a good news organization.

They don't make things up but they are more trying to entertain people than inform them.

Whodunit wrote:Unfortunately the aholes are running everything.

There are a$$holes everywhere, and some of them rise to the top. But there are a lot of really good people out there too, including a lot of powerful people with important responsibilities. Racket and mas are wrong to generalize about mining, although I understand where the sentiment comes from. My work exposes me to people in many different industries and business sectors. The company I work for is lucky enough to be choosy about its clients and we mostly avoid the a-holes. It’s not that hard to tell the difference between them and the genuinely good people, in my experience.

Happy to report that Iceland is taking the pandemic VERY seriously, trying to keep their low counts that way. Masks are rare, but distancing is taken VERY seriously, and everyone has to be tested on entry. We got our clean test results emailed about 16 hours after arrival.

I would encourage anyone who enjoys travel to do it now. We’ve been to Italy, France, Finland and Iceland over the last month, and tourists are barely more numerous than unicorns. There has been a real thinning of the small business herd everywhere, with many store fronts shuttered or advertised for lease, but also with many businesses that have figured out how to function with civil restrictions that seem to be thriving.

Covid restrictions... stupid autocorrect!

Idiot, I of course defer to your much more recent experience. My aim was to express my understanding for those like Racket who don’t want to go near miners. The reason I am in them is partly because I trust the judgment of someone who expresses the same sentiment as do you.

BTW I tuned in both Hannity and NPR in the car.

Total bs. While NPR pushed its agenda of the racialization of identity through stories on the new black air force chief of staff and the improbability of an Indonesian making to to the US, Hannity was mired in the cherrypicking those campaign promises upon which Trump has delivered, while conveniently ignoring those he has not, such as debt/deficit reduction.

It’s truly wondrous that some people take these things seriously, for their specific content.

I didn’t fact check this do caveat emptor but geez even if it’s half correct....

https://twitter.com/vincentdeluard/status/1291091807288193026?s=21