This is my first post in many a blue moon…so forgive me while I shake the cobwebs out from between my ears. A good friend down in Marco was asking for my thoughts on Newmont Mining as a play. Instead of bloviating on it – I will just share my reply here:
Okay… the daily chart has been eviscerated, so we need to zoom out to a weekly chart to see the bigger picture. Take a look at my footnotes below the chart:
1. Is the low price from the week of August 28th 2015. The last major bottom.
2. Is the most recent significant low from the week of May 27th 2016
3. This weeks action has blown up a very heavy support diatonic near $36
4. Curiously enough the $30.84 area (call it $31) is the midpoint of the 2015 bottom to the week of August 12th 2016 top. And this is the most important. At the midpoint of a major leg – there are 50% winners and 50% losers. This where the majority of the stop loss orders will be placed. Either the Bulls or the Bears will capitulate here on margin calls. “loot a burning house” theory…
5. Consider this too – look how extremely low the volume has been on this meltdown… that should tell you two things – a.) Institutions, and hedge funds, banks and strong hands are not the ones dumping. -and- b.) this is RETAIL selling or what I affectionately would refer to as a “Piker’s Panic”. I can’t see any reason to try to front run a long trade until it tests and holds the $31 +/- area
I came up here to be an expatriate from Obama’s new world order – of jobs for Wal-Mart greeters and Kroger bag boys at minimum wage, for EVERYONE 55 and older. That is how he saved the economy. While playing golf…
And I had sentimental reasons as well. My mother was born here and she never changed her citizenship. Even though she spent her entire life paying US taxes in to Social Security.
Which begs a very funny question – why are we all paying in to Social Security which is going bankrupt, when WELFARE will NEVER go bankrupt?
It would of been a much better investment decision when one thinks about it, to never of had a job. And then get a free Obamma phone and “dith-abilty” as our entitlements. Why, did I never think of that option?
How does socialism work up north? Funny you asked. This is how it works – Yesterday was my first trip to a Canadian gas station. The sign on the post says regular $1.17, I say to myself “far fucking out”, this is an oil rich country isn’t it?
Then I find out that socialists sell gas by the litre, not by the gallon. In other words it is actually 1.17 x 3.78 = or $4.42 a gallon. When I left Tennessee we were paying I think, $2.39 per gallon.
It cost me $30 to get half a tank of gas. Here is the breakdown in basic socialist mathematics :
1. 13% HST tax per litre
2. 10 cents Federal Tax per litre
3. 14.7 cents Provincial Tax per litre
WTF is a “Provincial Tax” if the government already got it twice above?
Lets do some other basic mathematics here – there are 3.78 per litres to a gallon. The cheapest socialist gas available is $1.18 per litre so therefore $4.46 per gallon. Now then, per socialism:
1. HST = 58 cents per gallon
2. Federal = 38 cents per gallon
3. Province = 56 cents per gallon
In other words, in an oil rich country – VERY oil rich – where the native currency is being destroyed by FALLING oil prices – there are $1.52 in taxes imposed on every gallon of gas…
And NOW they are going to spend all that money to bring in 25,000 hard on their luck Syrian terrorists?
Hi! Welcome to Canada! Here is your free EBT card! Please do not suicide bomb us! Until you get settled that is…
Is it just me? Or am I the only one who has grown puke inducingly sick and tired, of people who are too fat to walk. You see them everywhere, usually at a Walmart or Sam’s Club. And these obesity challenged cretins need motorized scooters – because waddling down the aisle that has Twinkee’s on sale is too difficult to manage.
This morning I was in the local Kroger just trying to get some cat food and a pack of smokes. Here comes some fat bastard in an electric cart, and she is eating a family sized bag of potato chips, while she is driving the cart! Are you fucking kidding me? And what was in the cart? Six liters of diet coke. Five boxes of Red Baron Pizza (they were on sale for $1.00 off). Three more family sized bags of chips. And of course: “Weight Watcher’s” lasagna…
Jesus god almighty just make it stop! Then, if this is all not enough…I have to stand behind this pant-load in the checkout lane; while she pays for all this crap with a Tennessee state issued EBT debit card. For those of you not from the commonwealth, that is essentially food stamps in a plastic form. Lets raise taxes. It’s only fair!
In our country, simply disagreeing on any intelligent level with Dear Leader the Dalai Bama; makes you a racist. If you do not agree with 17 trillion dollar debt spending, you are a racist. If you do not believe that every man, woman and child should be given a free cellphone, free food, and free rent; you are a racist. If you do not believe in amnesty for illegal trespassing aliens, then of course – you are a racist. Benghazi cover up? A concept fomented by racists.
On the other hand; if you are from North Korea – you do not need any political opinions to be a racist. You can simply refer to our President as a “wicked black monkey” and you will be toeing the party line.
It is high time we put and end to these half pint, sawed off, bad haircut potentates. Not to mention right wing talk show hosts, and conservative leaning – bloviating bloggers. We used to create internment camps for people like this.
President Obama – it is time to call in Team America!
And put an end to these North Korean racists once and for all:
Jesus god almighty, my coders in Nebraska could of built a site that does work for under $200 grand. And granted, they might be panty-sniffing reprobates, but they are taxpayers -AND- they do build websites that work! You just cant make shit like this up.
In any event, for good or ill – and with out further bloviating on my part – here is John Oliver with better content than I could ever come up with…for now anyway: