Silver getting crushed today

And a 200 point drop on the DOW. Wonder if it's finally correction time? (please please please!)

 

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Probably depends a lot on the health care vote. You can see obvious profit-taking (including some from your humble narrator). In the meantime, bad stocks to begin with in all sectors are horrendous. Sure is time to be cutting losers adrift and increasing one's cash ammunition.

I am beginning to think the Fed could raise interest rates 10 times -- and the 10-year would STILL be stuck at 2.6 or under.

 

Continuing my Straddle to bull paper trades ( post 1015 and 1085) I had converted the straddle after gains became good on the put side, and bought a lower level for GDX Call @ 23 ( when GDX stock was around 22) and GDX ended @23.26 today. Since these CALLS only had until Friday, I sold 2/3 of them and purchase some into April, but that won't be part of the original straddle I began with, so I won't bother the forum with them in the future. I do still have the GDX24 of the original straddle, but those are only worth about 10cents each now now ( was 2 cents last week), and that would only leave me about 3 cents each after fees. so if it stays there, I will just let expire , But if GDX hits 24.4 or higher in next 2 days, I will be the luckiest guesser I guess.

As someone mentioned ( as we can't discuss politics) most of the movement is the fates of several major policies reform. Stability ( no matter the direction) supports a strong USD. Instability the opposites (in my opinion). Jim

 

the stock market crashed today because the end is near for Sears and Kmart and the market reacted with a Blue Light Special !!

 

Sears has been a certifiable basket case for years. Frankly, I can't see why anyone still owns it today. Many other bricks and mortar retailers are threatening to join Sears. They can thank Amazon.

 

Yes, Sears/Kmart has been that way for years as the currently owner just kept pouring money into it for some odd reason, over and over again. I guess he's out of money as he's looking for outside funding now.

Kmart's old World Headquarters is a few miles away. That was like another lifetime ago when they actually were selling things. Then hearing about all their troubles that led to their downfall (excluding competition) and inability to correct the ship some 23+ years ago now.

 

The circus is starting ...

 

What I find ironic is about Sears: remember the old mail order catalog that had everything? In a way, it was Amazon before its time. How difficult would it have been for Sears to expand that and convert to Internet home shopping? Think about what might have been with some foresight....

 

Might be time to,dump my Montgomery Ward stock.

 

I was just gonna say when I was young it was Montgomery wards catalog, And we also had a store here until the 70's then it closed, It was 2 story and as a kid I would run down the stairs to basement floor because thats where all the outdoor and hunting stuff was.

 

I've been getting great deals on Craftsman tools lately. Sears is desperately discounting tool prices and giving me rewards points to point where I am getting items at 75% or more off. I guess they are hoping I buy other full priced stuff while in their store.

 

ahh Craftsman ... made by Black & Decker

They sold the rights of Craftsman to Black & Decker ... but can still manufacture and sell within Sears for 15 yrs .. or something weird like that. Squeezing as much $$$ out of their assets until they go completely belly-up.

==> http://www.marketwatch.com/story/se...lose-150-stores-to-boost-liquidity-2017-01-05

 

life time warranty on craftsman tools if they malfunction.... always had good luck returning them... especially on ratchets ....

 

I bought them, and my dad bought them. But if Sears goes belly up, so does the warranty. Thankfully they are still making quality tools. In my lifetime, I think I've had to return 3 or 4 broken tools.

 

I've never have had to return one. Nearly impossible to find used craftsman tools in the tool bucket at the antique store. Just trade in the old junk for a brand new tool.

 

I started out with a $199.00 tool set in the 80's Still have my Craftsmen tool box big roller also, I bought used from the Mac tool Man. Then I replaced most of them through out the years with better Cornwell. Never liked Mac or Snap ons prices. I had a pretty good relationship in the mid 80's with the mac tool man local, I ran his side business an auto body shop supply for awhile it was good experience for me.

 

Well, my public option playing will come to an end with this post. Previous post 1015, 1085, and 1219, give the actions, etc on the GDX initial straddle option. The remaining part is a couple of cents, so it will expire or make a dime each at the best.
Over all TDAmeritrade posts in my account that the straddle made gains of 142% over the 4 weeks. I was mainly lucky, but wanted to show that if one takes the time to understand "paper" bullion trades, it can play a part in "physical" since the trade can be done in seconds at low %. The final part is I will take the 42% and buy physical bullion at the coin club monthly meeting if they have that much Jim

 

Still trying to learn. Maybe you should teach a class. I'd at least buy the beer!

 

Another jump ...

 

well, it's about time !!