Hammond Ranch sitting on precious metal, mineral, uranium, deposits which the BLM desperately wants

https://www.intellihub.com/hammond-ranch-may-be-sitting-on-precious-metals-materials-the-blm-wants/

ISIS Has Seized 88 Pounds Of Uranium In Northern Iraq

http://www.zerohedge.com/news/2014-07-09/isis-has-seized-88-pounds-uranium-northern-iraq

A Second Way Investors Can Make A Fortune In These Markets

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/4_A_Second_Way_Investors_Can_Make_A_Fortune_In_These_Markets.html

“Major Catalyst” About To Send Gold & Silver Prices Surging

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/12_Major_Catalyst_About_To_Send_Gold_%26_Silver_Prices_Surging.html

Expect $2,000 Gold & A Massive Squeeze In A Key Commodity

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/29_Expect_%242%2C000_Gold_%26_A_Massive_Squeeze_In_A_Key_Commodity.html

Silver and uranium

See disclaimers in the side bar.

Disclosure:  Sold a little SLW today and bought CCJ to replace it.  Uranium is so beaten up, and unless the world stops using nuclear power, I don't think CCJ is going out of business anytime soon.

Gold and silver spot prices continued to rise today, but the mining equities didn't rise as much proportionately, so perhaps the trade is getting heavy, and the precious metals are due for a breather.  If SLW drops to the 30's, I'm buying the trading shares back, but I did not sell my core position in SLW.

Holders of physical gold and silver made some money today.  I'm still bullish long-term, but looking for a short-term correction, that may or may not occur.  In other words, since I don't have a crystal ball, either way, I'm still in SLW, but I did lighten up today, with an eye toward re-entering at a lower price point.

I tried this tactic when SLW was at $22 last year, looking to get back in if it dipped into the teens (bought original shares in the $2's and $3's), but SLW gapped up and never hit my buy price target.  Do I have regrets, since SLW has soared as high as $47?  Absolutely, but it was still a good trade, from a risk management stand point.  In other words, when you're right, don't get greedy.  I've been burned by greed before.

Having said that, this is now house money (twice), so I can afford to have exert more patience, able to withstand the higher volatility, and wilder price swings.  In other words, I didn't have to sell any SLW today, but I truly believe I can buy back in at a lower price.  We shall see--I've been wrong before, but when I buy right, it masks my selling mistakes.

And if it keeps going up, well, I can't complain, because I am still in.  End of my rambling thoughts.

Taking profits

And in these skittish markets, I'm not ashamed. Took some profits on TBT, up 50% due to rising 30-year T-bond rates (TBT is a double short ETF betting on rising bond yields and declining bond prices). It gapped up today and could break out, so I kept some on the table. But with a 50% profit, I had to take some off the table. If the Fed goes through with quantitative easing and monetizes that debt, they could temporarily drive bond prices up and yields down. Long-term, I'm still bearish Treasury bonds, so I will wait for another good entry point to buy TBT. But with volatile markets, you take your winners and cut your losers. Buy and hold won't work going forward (it didn't work in the last decade either).

Also, I cashed out partial positions in a uranium stock (up 25%), and of course DNDN this morning for a better than 300% pop. Notice I said "partial", as I am merely taking some profits, but letting the house money ride. Most professional traders average in their buys, and average out their sells, because no one can buy at the absolute bottom or sell at the absolute top. Don't blow your wad with one initial big trade. And don't get discouraged if the price drops a little as soon as you buy, or goes up a little when you sell. Knowing when to sell is as important as knowing when to buy.

The reflation play is still intact, and I will be looking to buy into dips on hard assets (commodities, precious metals, energy). We are in the throes of a bear market rally, but I certainly don't want to stand in the way of stampeding longs. When I hear talk of the beginning of a new bull market, I'll know this rally would have been a head fake, at which point I will buy some appropriate puts. If I miss the big decline--oh well. NOT losing money in this market is like a win.

I also want to get liquid and keep my powder dry, as another biotech opportunity is presenting itself. This may not be another DNDN blockbuster, but FDA approval seems imminent. Stay tuned.