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Fireworks with The Jackass

186

It's another three-day, U.S. market holiday weekend so you know what that means...a visit from our friend, The Golden Jackass himself, Jim Willie.

Much has changed since we last spoke with Jim a month ago...but much has stayed the same, too. If you want a reminder of where we left off in late May, here's the link: https://www.tfmetalsreport.com/podcast/10164/thursday-conversation-jim-w...

For today, I mainly just a dropped a quarter into Jim's back, pulled the string and left him go to town. You'll find that my voice fills only about two of the sixty minutes...and that's fine. You hear enough from me on a daily basis, anyway.

A few of the key subjects upon which The Jackass opined:

  • Covid, vaccines and his new report dedicated to health issues
  • The need for continuing, relentless and infinite QE
  • How The Fed is calling in select, dollar-based debt
  • The threats to and from the CCP
  • And a whole lot in between

Remember, you can find all of Jim's work at his website: www.golden-jackass.com

Have a great weekend!

TF

  186 Comments

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NUGTCALLMickey
Jul 6, 2020 - 9:23am

Mickey

When did or do they stop trading?

TF
Jul 6, 2020 - 9:16am
Jul 6, 2020 - 9:12am
Marcus
Jul 6, 2020 - 9:06am

options question

Thanks guys. If there is one place I can get an answer, it's here within the community. Merci beaucoup, gracias!

tonym9
Jul 6, 2020 - 9:01am

Just wanted to say thanks

Just wanted to say thanks guys

Billhilly: Im not a softie and your posts hit that spot. Thank you for sharing.

Ive been buried in personal and professional stuff. So much so Ive pretty much written off the NASCAR season, all holidays, and full nights of sleep. Ive been trying to keep up with whats around me but find myself saying often 'when did that happen' while trying to remember what day of the week it is. This site is keeping me plugged in as well as i can be.

On 6/1 I had the oil changed on my tundra. Last night coming back from austin the maintenance light came on. Time for another oil change. 5000 miles in a month. Its really more though since the Taurus set a code I havent driven it...prolly closer to 8000 in a month counting it and the highlander and f150...ugh.

Im no longer doing dental hygiene since there is too much licensing risk out there and office protocols for the offices that I have been in are all over the map. Sorry, that's not going to cut it. So, until that goes away there's no hygiening. If a contact trace investigation reveals that a dental office is a spreader, the licenses of all involved become subject to revocation...nope, not taking that risk.

Inspections are keeping me busy. There is a ton of market action in both Houston and Austin. Im about 30/70 organic referrals to homeadvisor leads...i hate homeadvisor but its keeping me in work so far.

Real estate prices in Houston are starting to slip. Since Im renting and planning on buying 18 months from now ive been watching homes that fit in my criteria very closely. Dropped prices are the norm....not large drops but theyre there, and en mass.

The moving is winding down. A few more moving trips combined with Austin inspections and I should be done. My wife was surprised saturday at how little is left in Austin. She went with me Saturday after our Houston morning inspection so I could write the report while she drove....then she drove back to houston while i wrote the Austin Sunday inspection after loading the truck with garage stuff.

Today Im inspecting in Houston, tomorrow austin, Wednesday in Houston. No rest for the weary but im damned glad to have the work.

Trading has been difficult at best due to not being able to pay attention and getting the direction wrong on the big moves. I got crossed up somewhere (again) with a JDST play that took a chunk out of my hide. I was close to break even on March's JNUG disaster, but have since lost ground. Im about 25% down right now in total on the year. Worse JNUG ran away from me and as a result my share count suffered dang it. Im great at range trading, not so much at predicting headline related trades and large runs.

Yesterday morning while watering the austin yard i startled a baby bird and it jumped out of the nest. Almost ready to go but not quite. After donning a glove i was able to chase and grab the rascal and put him back in the nest. Momma bird was very unhappy with me and dive bombed me multiple times. A few hours later i checked on them and baby bird was sitting on the same branch as his nest with momma attending to him and squawking at me when i approached the tree. Its the little things sometimes.

Metals look ready to rip (more)...gold at 1796 and silver at 18.65 as I type. Monday smash? I think not. Right now Im flat and just watching. If we get a monday open smash (dont think so) i'll look for a JNUG position...doubt i get it.

Keep up the good posts all.

Jul 6, 2020 - 8:58am

all the way back to Thursday's podcast

Recall the discussion...If the TIP stays up today, it's likely that CDG rushes to catch up. We discussed this chart.

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

canary
Jul 6, 2020 - 8:29am

How long before the manipulators delist...

AGQ (2x silver) and 2x miners etfs?...When gold breaks to new heights?

AGAUMarcus
Jul 6, 2020 - 8:27am

option expiry

Marcus you should check with your broker and always opt for cash settlement if possible but best sell to close the option before expiry

Mickey4 oz
Jul 6, 2020 - 8:13am

I just want to point out that

Now, without USLV and UGLD, and with JNUG and NUGT trimmed to 2x, they can now back off some of the capping.

it happened at 3/31 when nugt and jnug were cut back, and now at 6/30 a bit more.

one heck of a coincidence, huh?

4 oz
Jul 6, 2020 - 7:57am

Still my thought/position: THERE IS NO SILVER!

Yeah...moving up a little overnight. We'll take that. And yeah plenty of 'battle zones' to get through....like at $22 and $26. But the real battle....and it'll be epic, will be fought at $36. Right now it's way fun to think & even say out loud..... Don't Look Now....But Here Comes SILVER!

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Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

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