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goldminingXpert (28.71)

The bear only sleeps so long.



August 04, 2011 – Comments (15) | RELATED TICKERS: DNDNQ , GMXRQ.DL , ZG

GMX gains 2,294 points Thursday, as the economic illusion's unraveling gained speed. With zombie companies such as GGP getting shredded, GMX scored his best single-day point gain ever (even better than the 2008 salad days.) He extends special thanks to DownDown, ahem, Dendreon, whose shares fell 67% after it became evident that Americans don't want to pay $90k for a drug that extends life by a few months. Sorry naked shorting conspiracy theorists -- maybe Dendreon is a lousy company like the shorts have said after all.

15 Comments – Post Your Own

#1) On August 04, 2011 at 4:57 PM, XMFRosetint (45.00) wrote:


 I implore you to stop being so arrogant. As I recall, your ego ended up costing you a fair amount of money when you bought some puts back in '09.

Congrats on your points gain today, but I'll be shocked if you ever make all your points back on GGP. 

Best of luck,


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#2) On August 04, 2011 at 5:00 PM, kdakota630 (28.98) wrote:

You counted your chickens before they were all fully hatched.  Your total for the day ended up being 2450.85.

Congratulations.  Whenever I have a good day on a day like this, I always keep an eye on your score because I know it's going to dwarf mine.

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#3) On August 04, 2011 at 5:05 PM, goldminingXpert (28.71) wrote:

Yeah, GGP isn't going back to $1, unfortunately. Though their upcoming weak-mall spinoff play looks like a fast-track insolvency waiting to happen. I've learned a lot from my errors in 2009-10. Just celebrating a little following the success of several of my picks from my 14 stocks for a new bear market series:

AIB was quite fun (-40% today), and COGO, (a sketchy Chinese RTO I've written up) is trading down 15% after hours.


Thanks kdakota. I still have a way to go in terms of catching up with you and all the other elite fools. Plus the market will bounce a bit at some point -- I will probably see my score retrace before making more 52-week highs. 

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#4) On August 04, 2011 at 5:19 PM, JakilaTheHun (99.92) wrote:

You're still under the delusion that GGP is bankrupt?  

All commercial REITs got hit hard today, because the sector has gotten way ahead of itself. Moreover, more money pulled from the economy could result in lower real estate prices; hence the property REITs get hit.  Mall REITs, in particular, would suffer from lower consumer spending.

The real reason the market got hit today was because of the Eurozone crisis.  Yields on Spanish and Italian bonds continue to skyrocket, suggesting we're about to take a turn into an even darker chapter of the Euro disaster. I think the US debt deal took away any final glimmer of hope for a bigger recovery, as well.

I can't really disagree with you on DNDN. 

Natural gas and oil got slaughtered today, even worse than real estate.  That suggests demand is waning.  It might only be a matter of time before the market finally catches onto the fact that most metals are extremely overpriced (silver, palladium, platinum, copper, etc.)

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#5) On August 04, 2011 at 5:21 PM, JakilaTheHun (99.92) wrote:

You're still under the delusion that GGP is bankrupt?  

I should probably amend "bankrupt" to say "insolvent". 

GGP's bankruptcy in '09 was more about liquidity than insolvency. 

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#6) On August 04, 2011 at 5:26 PM, Option1307 (30.67) wrote:

Congrats on your day, it was long overdue but don't get carried away with the shorts just yet.

Best of luck!

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#7) On August 04, 2011 at 5:36 PM, BigFatBEAR (28.33) wrote:

BigFatGMXCopier had a nice little day too, though my thumbs have gotten alarmingly green over the years. It's that damn lousy eternal optimism thing.

Funny, though, whenever I have lots of cash and am looking to buy some good stocks, the market crashes for me and presents them at firesale prices. Not buying yet, but keeping an eye out...

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#8) On August 04, 2011 at 5:37 PM, cbwang888 (25.53) wrote:

Do you make money in real portfolio? That's more important to me than my CAP score ...

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#9) On August 04, 2011 at 5:53 PM, goldminingXpert (28.71) wrote:

Jakila: I said the GGP spinoff will go insolvent. The flagship GGP (i.e. the strong GGP after the company splits up) probably won't fall too far even when the economy crashes again. I'm looking to close my red thumb around 8-10.

Hey Bigfatbear!

The real portfolio is doing pretty well this year, first time since 2008 that I am way outperforming the broader market (beat the market by 80% that year). Admittedly 2009 was no good and 2010 I underperformed the market, but this year is looking good thus far. 

Option: I have a very small short book at the moment. Capital preservation has been the goal ... once the S&P goes under 1100 and confirms that we are back in bear market/recession mode, I will get a little more aggressive on the short side. Until then, all I'm really interested in shorting is China frauds. 

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#10) On August 04, 2011 at 6:05 PM, chk999longonly (97.72) wrote:

Well done!


"In the jungle, the mighty jungle

the bear is waking up" 

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#11) On August 04, 2011 at 6:24 PM, goldminingXpert (28.71) wrote:

I'm just happy that this profile passed my China-shorting profile. It's good to have my namesake profile as my leading one again. It's been a long fall from the top from me and I won't truly be celebratory for awhile still.

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#12) On August 04, 2011 at 6:43 PM, HarryCaraysGhost (87.08) wrote:


And, are you ready for some football!

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#13) On August 04, 2011 at 6:46 PM, goldminingXpert (28.71) wrote:

Yes I am. I think my Colts are set for another good year.

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#14) On August 04, 2011 at 7:14 PM, chopchop0 (58.14) wrote:

Hey GMX, nice call on ACAS back in 2009 when it was trading under a buck ;)

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#15) On August 08, 2011 at 4:21 PM, kdakota630 (28.98) wrote:

Damn!  Another huge point gain for you. 

What a difference a few days can make.

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