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goldminingXpert (29.51)

This Bailout: The Mother of all Frauds

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September 21, 2008 – Comments (7) | RELATED TICKERS: OMG

Watch the video: then sign the petition to stop this nonsense. 

7 Comments – Post Your Own

#1) On September 21, 2008 at 3:56 PM, MLGtrader (98.26) wrote:

Hey GMX, have we hit bottom on commodities.  We saw some good movement end of last week with the bailout plan.  JAG hasn't had as big of a run as other gold co.  Do you think that gold will move higher, causing another run in small mining?  I own POT and IPI long because I believe that fertilizer's run is not nearly over.

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#2) On September 21, 2008 at 4:39 PM, goldminingXpert (29.51) wrote:

I'm giving out my advice on the notion that you've already signed the petition mentioned in this article. Consider it my tip jar. 

It depends... if the government prints to pay for these nonsense proposals... gold and everything is else going up Zimbabwe style. If not, and I still lean to the not argument as I believe that Washington must have at least one person with an IQ higher than their shoe size... then we still get deflationary collapse. The rest of the world is struggling badly, the global commodity bull story is looking bad. It all comes down to the dollar... will they monetize or not? Place your bets.

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#3) On September 21, 2008 at 4:50 PM, dinodelaurentis (75.27) wrote:

bets are down dude.

talk about high pressure salesmen!! if this was a car, house, or phone solicitation i'd walk away!!!!

thanks for the petition too!!!

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#4) On September 21, 2008 at 6:25 PM, columbia1 wrote:

Gmx, I signed your petition last night from DD blog. The thing that is really killing me is watching congress add more pork to this bill then is imagineable, I don't like this bill and the future is scaring the h*ll out of me, I never seen such a f*ck-up in my life!! We are going to get screw if that bill passes or not. What is your prediction for the next couple days of trading?

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#5) On September 21, 2008 at 9:18 PM, goldminingXpert (29.51) wrote:

I bought crash puts on Friday (IWM and QQQQ puts 10 to 15% out of the money for October expiration). Other than that, I'm mostly in cash ~75% right now. Got a little short GLD and Goldcorp action hedged by long positions in Jaguar Mining and Northgate Minerals. Also added some calls on Boardwalk Pipeline Partners (BWP) when it went under 19... it is trading low cause Lehman has to unload 1.4 million shares in bankruptcy... but the company is still in fine shape. I believe the trend is down, but unless we crash, it is hard to profit off this market as the volatility will kill you.

This certainly isn't a bottom to the bear market--I guarantee you that. Governments can't make bottoms... they can just be a**es. 

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#6) On September 21, 2008 at 9:18 PM, goldminingXpert (29.51) wrote:

I bought crash puts on Friday (IWM and QQQQ puts 10 to 15% out of the money for October expiration). Other than that, I'm mostly in cash ~75% right now. Got a little short GLD and Goldcorp action hedged by long positions in Jaguar Mining and Northgate Minerals. Also added some calls on Boardwalk Pipeline Partners (BWP) when it went under 19... it is trading low cause Lehman has to unload 1.4 million shares in bankruptcy... but the company is still in fine shape. I believe the trend is down, but unless we crash, it is hard to profit off this market as the volatility will kill you.

This certainly isn't a bottom to the bear market--I guarantee you that. Governments can't make bottoms... they can just be a**es. 

Report this comment
#7) On September 21, 2008 at 9:46 PM, goldminingXpert (29.51) wrote:

I bought crash puts on Friday (IWM and QQQQ puts 10 to 15% out of the money for October expiration). Other than that, I'm mostly in cash ~75% right now. Got a little short GLD and Goldcorp action hedged by long positions in Jaguar Mining and Northgate Minerals. Also added some calls on Boardwalk Pipeline Partners (BWP) when it went under 19... it is trading low cause Lehman has to unload 1.4 million shares in bankruptcy... but the company is still in fine shape. I believe the trend is down, but unless we crash, it is hard to profit off this market as the volatility will kill you.

This certainly isn't a bottom to the bear market--I guarantee you that. Governments can't make bottoms... they can just be a**es. 

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