One of these days I’ll shut the hell up about moving you into real money assets as quickly as your penny stock-spindling portfolio will allow.
But that day is not this day. Not when the latest news clacking over the Jesse Livermore-era news ticker in my offices reveals how Kommandant Barack is now going to nationalize GM — but “only temporarily.” Turns out Dear Leader wants just enough time for Rahm Emmanual and Lanny Davis to wheel that aging aerophin-appended Caddy into his airplane hangar chop shop so to whack it up for distribution to loyal U.A.W. gummint cheese recipients.
Tanks you veddy much, Kommandant, and dont’ forget to save the steering wheel, the white wall tires and the chrome ashtrays for the bond holders! I said leave those white wall tires, you!
So if the good fellahs in charge of everything — and damn, they really seem like they are in charge of everything these days, don’t they? — are that cavalier about the big buck bondholders (some of whom were stupid enough to give them campaign money just months ago) , doesn’t that make you just a wee bit nervous about how well they are going to treat that other little U.S. bond obligation: The Federal Reserve Note?
So have fun, and be a silly piebald carnival piker if you’re so compelled. By all means, stuff yourself into the clown car with all the other PPT nutjobs . Throw some funny money at chip stocks that have been moribund since Bill Gates was still a virgin, if you feel that exercise will further your spiritual growth. Go nuts.
Hell, you’ll probably find me in that same Yugo from time to time, playing Parcheesi with Ragin Cajun whilst simultaneously sword fighting The Chart Addict. I’m human, after all, and enjoy an OTB rocket ride for greasy coin and bed bugged comfort as much as the next guy.
Just don’t get too homey in that clown car, Homey. Five will get you ten it will soon be remandered by the EPA for egregious CAFE standard violations, environmentally malevolant tailpipe emanations, and toxic silly string abuse. Then it’ll be medical experiments for the lot of us.
Well, not those who have been prudent about tendering some savings to the Jacksonian Core Holding Portfolio, whose hard money and hard asset plays will serve to keep some of us cosy with hot buttered rums and chedder toasties , whilst the OTB pikers scrape at our doors. No luck for them I’m afraid. They shall be turned out with a stern warning from Cuddy, our trusty footman.
But Cuddy welcomes the purchase of silver this day, as the Three Musketeers SSRI, PAAS and SLW scored again, with wins of 7.64%, 5.39% and 3.75%, respectively. Do you get the feeling the market is trying to tell you something, Jacksonians?
Beating even silver today was coveted (but not precious) metal molybdenum, as JCHP member TC rang the bell with gains of 9.36% today. All in all, the Portfolio only had two slight losses, and both in the red hot agricultural sector. I expect MON (-0.69) and ANDE’s (-1.09) small losses to be more like rests than ultimate pullbacks. Still, this is why we’ve diversified even within this stable grouping, up 2.85% for the day. Now quickly, onto our daily review:
ANDE — $22.62 (-1.09%)
GDX — $38.43 (+2.51%)
GLD — $90.96 (+0.66)
IAG – $9.88 (+1.23%)
PAAS — $19.74 (+5.39%)
RGLD – $40.66 (+2.16%)
SLV — $13.98 (+2.95%)
SLW — $9.13 (+3.75%)
SSRI — $20.86 (+7.64%)
TBT — $51.04 (+1.07%)
TC — $9.00 (+9.36%)
TSO — $17.22 (+3.11%)
Daily Average: +2.85 %
38 Responses to Smite Me With Thine Silver Sceptre, Oh Lawd
Well Done. Are these longer term positions for you Jake?
Someone is going to try to corner the silver market again soon. I’ll be waiting.
Is this your first day here, then?
I might recommend some back reading (there are 37 posts now).
But to answer your question: yes. This is my “keep wealth alive” portfolio for the Obama years.
Scum — from your mouth to God’s ears.
AGQ, a holding but not in the JCHP, was also up 5.42% today, btw.
Double silver scubu bitchez!
Great post! How would you like to be a car dealer about now. Talk about buying retail and wholesaling to the public.
I may make a bid on Caddy with spinners before this is all said and done…
I have loved silver ever since learning of its conductive properties. I have always thought that there would someday be a technological breakthrough which would require copious silver and back in the day it seemed cheap to me so I slowly acquired some af. Digital cameras were not kind to the shiny metal, but I still like it. It is the common man’s metal, with greater upside potential than gold or platinum imo.
expecting a run back from gold or silver. if not then i will be joining the run for the intermediate trade. many charts poised to breakout, wouldnt be surprised with one more pullback
Population comparison: Canada vs Us
Canadian population growth: 0.971% per year (world rank: 136th)
US 0.949% per year (world rank: 137th)
Jake – what do you make of this?
The derivatives market shrank for the first time in the second half of 2008 as the global financial crisis curbed trading, the Bank for International Settlements said in a report.
The amount of outstanding contracts linked to bonds, currencies, commodities, stocks and interest rates fell 13.4 percent to $592 trillion, the Basel, Switzerland-based bank said yesterday. That’s the first decline in 10 years of compiling the data. The amount of credit-default swaps protecting investors against losses on bonds and loans fell 27 percent to cover a notional $41.9 trillion of debt.
Investors shunned derivatives as demand for risky assets withered after Lehman Brothers Holdings Inc.’s failure in September. Trading volume may decline further after more than 2,000 banks, hedge funds and asset mangers that trade credit- default swaps agreed to a “Big Bang Protocol” last month that will make it easier to move the contracts to a clearinghouse and eliminate overlapping trades.
“Severely strained credit markets combined with efforts to improve multilateral netting of offsetting contracts” helped cut notional volumes, BIS analysts Jacob Gyntelberg and Carlos Mallo wrote in the report.
hmm like that TC call. i suspect we get a pullback now in gold and silver for a final entry chance either thursday or friday. another up day and these things breakout. i will buy the breakouts when given a chance
Boom- I think that’s reasonable. There’s certainly less demand for CDO’s and likely even things like interest rate swaps in a less liquid period like we’ve been experiencing the last eighteen months or so.
Why does Canada so love the Maple Leaf? The flag, the hockey team, and the ultimate honor, the 1 oz GOLD Coin.
I did try to research an answer, via GOOG, to no avail.
So now I am asking you, and I know you know.
Eric: here’s your answer. first link — wikipedia, first section “design”.
Have you considered buying some platinum? It looks like it’s breaking through a big bad downtrend line and may rip from here. It could have even more potential than silver. I have bought some PTM in order to participate in the coming run.
Glud- I have been eschewing platinum for two reasons- one, you cannot avoid that metal’s ties to the auto industry, and two I have not found an adequate pure play vehicle with the liquidity that would approach a JCHP level stock.
I will check out your suggestion though, as I wanted to get some exposure when platinum was pari passu with gold a few months back and never did.
I’ve been looking at PTM, too, Glud. Also looking at Alpha’s long term uranium pick.
My gold royalty company, ROY, did really well today. Up 9.39% percent. I know, I know, not JCHP worthy.
Hi Jake and others
AAUK is the largest platinum miner in the world with with 40% of the world output. Buying into this one would also give you some platinum exposure. The platinum division constituted 22% of the company’s profit in 2008. The company is also involved in diamonds, base metals, ferrous metals and coal.
Technically it is in symmetrical triangle on the daily/weekly timeframe. A break to the upside of this pattern could be a good entry point. It´s meeting up with a declining 200 dma.
Could thisbe one for the jacksonian core?
I don’t own it, yet…
Jake, here is your boy Brett. Classic stuff.
Glud — I’ll check it out, but I’d much rather a pure play… I believe an ETF is coming out (or may be out now) but I’d have to get comfortable with the volume.
Chanci — RGLD is a better play on the royalty players, imho… at least for stability’s sake. I will keep an eye on ROY for the clown car portfolio though.
Thinking about promoting EGO to JCHP status too.
Speaking of clown cars, CDE is moving this morning….
Gotta love George Brett… he is so damn old school.
Platinum bothers me because they keep developing new (and cheaper) catalyst materials. This is true for both ICE exhaust systems and hydrogen fuel cells.
Maple Leaf Facts from This Canadian Heritage site:
The Maple Leaf
Well before the coming of the first European settlers, Canada’s aboriginal peoples had discovered the food properties of maple sap, which they gathered every spring. According to many historians, the maple leaf began to serve as a Canadian symbol as early as 1700.
Following are some examples of how the maple leaf grew in public consciousness as a symbol of our country until it finally became official on February 15, 1965, as an integral component of the national flag of Canada.
In 1834, Ludger Duvernay is reported to have proposed the maple leaf as an emblem of Canada when the Société Saint-Jean-Baptiste was founded on June 24 of that year.
In 1836, Le Canadien, a newspaper published in Lower Canada, referred to it as a suitable emblem for Canada.
In August 1860, at a public meeting held in Toronto, the maple leaf was adopted as the national emblem of Canada for use in the decorations for the Prince of Wales’ visit.
In 1867, Alexander Muir, a Toronto schoolmaster and poet, composed the song The Maple Leaf Forever.
In 1914, many Canadian soldiers wore the maple leaf on their military badges, and it was the dominant symbol used by many Canadian regiments serving in the Great World War I.
In 1939, at the beginning of World War II, numerous Canadian troops once again used the maple leaf as a distinctive emblem, displaying it on regimental badges and Canadian army and naval equipment.
From another part of the site:
The official ceremony inaugurating the new Canadian flag was held on Parliament Hill in Ottawa on February 15, 1965, with Governor General Georges Vanier, Prime Minister Lester B. Pearson, the members of the Cabinet and thousands of Canadians in attendance.
I had no idea it was so recent. Why did they ditch the Union Jack?
Platinum bothers me because they keep developing new (and cheaper) catalyst materials.
Yeah, that’s what concerns me as well. You have to figure there will be a substitute — and likely soon — just because of the expense of the catalytic converter, and the state of the auto industry. You know that even if the new ones are not as efficient, they will cut corners to pay for Kommandant’s other mandated five year plan change’s to their products.
That said, platinum, like gold, has a PM intrinsic value on its own, and is very attractive in jewelry.
Good news for Boomer: Coach Cawfee is moving to town!
Nice day for the Jacksonians! At least the couple I own.
BTW, I think you should add gasoline to the Jacksonian port (see my peanut gallery post I just put up on it
Kudos for SLW -
“…All three analysts call Silver Wheaton a “buy” (or “outperform”) and have price targets between US$11.00 and US$12.00 a share.”
Thank-you. The itch has been scratched, at least partially.
Caveman — gasoline is in the JCHP, by dint of TSO, a refinah (up big again today).
I’m not putting UGA in there… too volatile.
I beg to differ sir Jake!
Beta on UGA is 0.78, beta on your TSO is 1.37. I find that especially UGA which tracks gasoline is actually much less volatile on a short term basis. The Crude etf’s can be more volatile but UGA is different.
In addition to that I am liking more and more things other than stocks, I think it is much better REAL diversification when you get away from just stocks for companies. Although TSO should trade similar it may or may not. Kinda like comparing having gold company stocks vs. GLD or physical.
I call for an appeal to the Jacksonian court of appeals! I think you should reconsider!
But, the complication for the Jacksonian port would be the seasonality I point out in my peanut gallery post because my real recommendation for UGA would be to hold it long Jan to Sept and then short it from Sept to Jan.
Maybe we’ll look at it again. Gasoline’s not a commodity I have long term interest in, though, nor petrol.
I understand. Prolly not the best fit for the Jacksonian portfolio proper. I just wanted to rib ya.
E8: recall, First Majestic (FR.to), could be a buy when POS goes past 14.10USD/oz
Well, it has, and I hope you did. Now, just keep in mind the rest of what I said, and you will be fine…
Long rates went down and TBT took a hit after the FED minutes revealed that they are expecting both higher inflation than had been assumed and that the FED is expecting to piss more money away on zombies.
Most traders apparently think that anything that stimulates the government to buy their own debt is good for long bonds …I think the trader reaction to this insanity will prove wrong once again.
I don’t buy Canuckistan-exclusively traded stocks. If it gets a US listing, I will consider it.
Too much fuckery.
Don’t get me wrong, I love those Canuckistanian stock traders … they are Jesse Livermore old school-type mothah flickas.
Slim — that is one Costanza-like reaction to inflationary news, that’s for sure.
I’m happy, though, because it gives me a chance to get out of these TBT short calls at a profit.
TBT was the only “red” Jacksonian play today, btw.
loving the love in gold and silver pile your money there and in shorts