Loading ...Back on the investing front
I sold a single call on UNG for a 240% profit. Held it a week. Still holding two others that are approaching my sell point (I sell half at 100% gain.)
When I saw gold deliver what to my mind was a version of a double bottom this week, I put what meager $$ I had left into calls on GOLD, BTG, and AUY. I got over-eager on BTG and it is a tad underwater but am doing very well on GOLD and AUY. Have made lotsa $$ on AUY calls so far this year and plan to make lotsa more.
The Twitter guys I follow are competitive to Rambus, which is how I got into UNG and two others I am holding. Since this is the last bull market I’m likely to see in my lifetime I have to use it to rebuild the two fortunes I’ve already lost. I have rules to protect me when I follow them. When I don’t, I get hammered. Am determined this time around to stick to the rules.
Is this just a bounce from oversold in the precious metals? Or are we launching the next big move up? As long as gold and silver either rise or stay steady I’m 75% committed. Any signs of weakness and bye-bye.
Am spending some of my ill-gotten gains to get ready – got a freezer and loading up meat while still cheap. Got a 12 lb spiral ham at Costco for $1.50 a lb and already frozen solid. They had St Louis ribs on sale on Sunday but unfortunately I did not know it was a one-day sale. Made up for it with the ham.
Did you know you can freeze flour? Our stockpile of staples is slowly growing each week. And we’ll be adding frozen veggies starting next week. Goal is to build up a 3 – 6 month in our house food supply. Best we can do given our small home – less than 800 sf.
At 75 I’m working my butt off to bring in extra cash to fund supplies and put into the markets. In April I washed and waxed a 40′ motorhome, did all the finishing work on a slide-in shower install, replaced a tire and tube on a 3 wheel bike, washed and waxed a 34′ trailer, painted all the exterior trim on a 700 sf home, and tomorrow I start on a wash & wax job for a 38′ fifth wheel.
I just landed a job painting kitchen cabinets while the owners are away for the summer. About 20 cabinet doors, new hinges, and all the framework to paint as well. That involves removing the doors, washing them well with a cleaning solution, using same solution to wash all the cabinet framework, apply a bonding agent, then two coats of paint that the customer has already chosen. That’ll take me about 10 days to get the whole thing done. With break time, a two week job. However, it is summer and all the snowbirds are gone from our resort so I won’t be landing any more jobs (I think) until the fall. So I’ll probably stretch that to three or four weeks in between floating in the pool and staying on top of the markets.
For me, and for some others in my family, this is IT. Some bold moves being made that I am proud to see. My hope is to suffer minimally during whatever this mess transitions into being, while working in some good times with family throughout the process. Give today’s technology it matters not if I am in Florida, North Carolina or Ohio – I can stay on top of the markets and my options.
I’m not entirely a gunslinger. I’m slowing reallocating profits from options to stocks – focused on the 5 to 10 bagger potential in silver (overweighted) and gold (underweighted for now.) It drives me slightly nuts to read what some of these juniors are accomplishing in making great strikes and moving their projects forward. But I am sticking with my favorites for now; they have not cratered and their properties keep giving up more and more proven resources.
How’s everyone else doing?
Hi SB — your work ethic is admirable!!
No – I didn’t know you can freeze flour — what other gems have you discovered?
Any thoughts on EXK options?
Good Luck on working in some good times!
Thanks, Kewl2 – one has to do what one has to do. If I don’t work, I don’t have investment funds. Pretty simple!!
Thoughts on EXK calls? I had some long calls and sold them when silver started its waterfall down. Should have held tight – story of my life.
Anyway, if I were to buy today, I’d buy the November calls, $5 strike price, for .45 or .50. EXK is at $4 so you have from now till November for a big move in silver. Lotsa time for a move IF a move is to come. I believe we’ll see silver above $30 before Thanksgiving. So for me, it is a no-brainer. For someone else, it might scare them to death.
Alternatively, you can get the June $5 calls for a dime (maybe .12). Can EXK move 20% – $4 to $5 – by June 17? Yup, it will do more than that if silver takes off. It was $5.78 in April. But who knows for sure?? For 40 cents more you get 6 months of time. Cheap time in my mind.
The way gold & silver are acting tonight I don’t think those prices for EXK calls will be available any time soon…
Regarding the PM stock thesis. I ask what is the investing thesis? What is the catalyst? Don’t say FEDs printing money or something since they have done that forever. What would launch a bull leg?
Good questions, as usual, Plunger.
I learned the hard way that “investing thesis” does not a good chart make. So I don’t have a thesis per se, just take a position in whatever is going up. Example: been some great plays in shipping lately. As in tankers, dry goods.
Oil field charts also delivering marvelous charts – as in oil field services and supplies.
I did not mean to say I am married to gold and silver – I’ve been burned often by that “thesis.” No more. Charts, and more charts. My investing thesis is agnostic as the entire world has become drunk at the punchbowl of free money for so long, no thesis can be adopted with confidence. We have entered a no man’s land – the world has never been in this position before, and no one really knows what is going to happen. So give me a chart with 75 – 80% confidence and I’ll consider it.
Here’s a good example, Titan International. It’s gone from $8 in January to $17 today. Since April 14 it’s had a 17% run-up.
Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
Here’s another one: PHX Energy Services Corp. shares were up 14% to $4.05 after the company’s board approved an lift in the 2022 capital expenditure program to $85 million, a $37.3 million increase from the previous program.
The oil and gas services company Thursday afternoon said the increase is expected to be primarily dedicated to further expanding its fleet of Atlas High Performance Drilling Motors by up to 100 motors, and Velocity Real-Time Systems by up to 30 kits, for anticipated activity in late 2022 and into 2023.
PHX Energy said it expects the remaining expenditures will be allocated toward its PowerDrive Orbit Rotary Steerable Systems and other ancillary equipment.
Of the $85 million program, $76.4 million is expected to be allocated toward growth, while the remaining $8.6 million is anticipated to be spent on maintenance capital, the company said.
The company said strong commodity prices are driving industry growth, especially in the U.S. market, where there were 60% more rigs running in the first quarter of 2022 compared to the same quarter of 2021. Its premium technology fleet is currently running at capacity as its activity levels continue to grow and demand strengthens.
You are an Inspiration Boomer.
Bravo !
If and when you live in FL (as now apparently), you have to freeze flour … and most everything else including chocolate as my mom once learned the hard way. The humidity and the bugs a breeding will take it otherwise, even if stored tightly.
“However, it is summer and all the snowbirds are gone from our resort”
I swear half the vehicles in NC and VA on I-77 NB had Florida tags these last few days.
The others were likely from FL also, but kept their native registrations.
Have lived in Florida for over 25 years. We store food in our pantry like everyone else. You use good bug deterrents and no problem. I spray the exterior of the house and the small yard with a product call Talstar. Kills every living creature. NO BUGS.
Many folks from up north tag their cars in Florida, use Florida as their main address while keeping a home in the frozen tundra. Or they are off to graduation, grandkids sporting events, etc.
Ung has been then place to be since March. I have been buying shorter dated calls usually 3 wks out and slightly out of the money and then every 2 to 2.5 weeks i sell them and reup in the same manner. There was a small consolidation in mid april but did not cause much pain. 1 set of long dated 30$ calls purchased in late march are really nice to look at
Thanks for that, Pyrite. Like you, my calls on UNG have been close in. At some point their will be another pullback and I don’t want to get caught hung out to dry. I’ll check out those $30 calls this morning. UNG really moves compared to nat gas increases. Fantastic leverage!! (Both up and down, of course.)