AMD strictly moderated (AMD)

[mmoy]

I've had a good year. And wouldn't even mind parking everything
in treasuries for the rest of the year but I think that I can
do better.

CEF is gold and silver so you could consider it kind of a cash
equivalent. They don't mine it. It's just a fund that holds
bullion in a vault. It's very liquid too. Good place to park
money if you think that we're going to bomb a country in the
Middle East. The commercials have massive short positions in
silver and gold. Silver is a big problem in particular as there
is a silver ETF that's in the works that will consume a lot of
physical silver. And the problem with being short the metal is
that you have to come up with it if someone demands physical.

Yeah, there are those funny little rules that allow for cash
settlement but the price of silver would skyrocket if an
exchange or commercial couldn't come through with the physical.

The reason I went to cash was based on the tape. Long-term
rates were a factor. I have the TNX real-time chart on my
streamer and can see where it is going. The $US confirmed the
move by heading higher and gold "confirmed" it by moving
lower. Silver headed higher later in the day to close above
$12. If you think that AMD has moved a lot, take a look at
the silver miners.

You might want to look at the free commentary at Leavitt Brothers this weekend. It appears that others booked profits
on Thursday and Friday too. The trading action on the tape
was very orderly and on low volume which didn't make it
attractive for shorting in my opinion.