Caskey, when the " stake " is placed in the Casket of the S@P and all the money comes " Home " to roost, Homestake Mining will be the clear winner, as it was in the crash of 1929 when it was up 700%!
The Rarebird 20% average down law came into effect yesterday: I bought more Homestake at $11.5, right at that 200 day moving average which provided great support! Now I'm in at $12.9375.
Word on the Street, boys, is that Ellington Management Group, a 400 million hedge fund, had to close out positions to meet a margin call this weekend. It is likely that hedge funds will continue to periodically have severe difficulties and/or go bankrupt, more prominently during periods of strong adversity, such as, collapsing equities, rising commodity prices, and in fact any behavior sharpely contrary to that which was experienced in the long bull market. The great Merrill Lynch is laying off 3,000 workers.
There will also continue to be sharp rally days in the Dow and Nasdaq to shake out individuals who are attempting to take advantage of the bear market by selling short; short selling professionals do not believe that imitation is the sincerest form of flattery ( they go long too ) and will squeeze out the little guys and girls wherever possible.
C-Cube's earnings report, especially those revenues, are real worthy of fresh new lows! After the fools buy C-Cube at the open, how long will it take, boys, for the Ice Cube to slide? |
