Not to be disparaging, but I’ve felt I’ve spent the week with a squadron of flying goats. There you are flitting from tree to tree looking for the best green shoots, ears up and horns out, “baaaaahhhing” it up to beat the band.
Chips stocks! Cancer stocks! Lenny Dykstra Car Wash franchise stocks! Get ’em while they’re hot from the chute!
But why must you make your lives so difficult? There’s no reason to search for rare buds in the top branches of the acacia tree when there’s plenty of bull grass right here on the ground. Come down from there and take a look at the freshly scythed alfalfa I have gathered for you, my yellow-eyed friends.
Remember our weekly $HUI chart from last week?
Well, look what’s happened this week…. Pop!
Can anything be more promising than that little green bud out of the consolidation zone? And yes, we’re a little overbought here, and should be coming into some more resistance around 400 or so, but we should welcome that opportunity.
After all my boy, it is a bull market — and maybe the only one you’ll see for years to come. So relax some, take a load off, and get your nets ready. It’s almost harvest time again.
This week’s Jackson Core Holdings Portfolio results were very pleasing, especially as measured against the indexes. So have some nice goat cheese this weekend, and maybe try to pause a second whilst hoisting that relaxing beverage to remember those who have served, and especially those who have fallen in order that you could enjoy this great country. Be well.
| Name | 5/8/2009 | 5/15/2009 | ∆ | 5/22/2009 | ∆ |
| ANDE | $ 21.50 | $ 21.31 | -0.88% | $ 23.34 | 9.53% |
| GDX | 37.46 | 37.65 | 0.51% | 42.05 | 11.69% |
| GLD | 89.98 | 91.55 | 1.74% | 94.45 | 3.17% |
| IAG | 9.92 | 9.83 | -0.91% | 10.86 | 10.48% |
| MON | 86.42 | 89.95 | 4.08% | 86.61 | -3.71% |
| NRP | 23.39 | 21.29 | -8.98% | 22.21 | 4.32% |
| PAAS | 19.35 | 18.66 | -3.57% | 21.42 | 14.79% |
| RGLD | 39.90 | 39.97 | 0.18% | 44.26 | 10.73% |
| SLV | 13.79 | 13.77 | -0.15% | 14.50 | 5.30% |
| SLW | 8.91 | 8.58 | -3.70% | 9.34 | 8.86% |
| SSRI | 20.06 | 19.06 | -4.99% | 21.73 | 14.01% |
| TBT | 52.24 | 49.13 | -5.95% | 53.57 | 9.04% |
| TC | 7.98 | 7.65 | -4.14% | 8.64 | 12.94% |
| TSO | 16.72 | 16.60 | -0.72% | 16.23 | -2.23% |
| AVG | -1.96% | 7.78% | |||
| Name | 5/8/2009 | 5/15/2009 | ∆ | 5/22/2009 | ∆ |
| SPY | $ 92.98 | $ 88.71 | -4.59% | $ 89.02 | 0.35% |
| QQQQ | 34.23 | 33.37 | -2.51% | 33.54 | 0.51% |
| DIA | 85.47 | 82.78 | -3.15% | 82.87 | 0.11% |
| NDX | 1,394.16 | 1,355.11 | -2.80% | 1,363.17 | 0.59% |
| RUT | 511.82 | 475.84 | -7.03% | 477.62 | 0.37% |
| AVG | -4.02% | 0.39% |
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Jake, You are on Fire! Good stuff.
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Off to see Star Trek with the wifey.
jake..you are right on…im in 99.99 % agreement with what you say,the only differences being my strong bias on KGC and AUY as my biggest holdings along with SLW and ANV…i think you would like alot of Eric Sprott posts as he shares the same view as us on hard assets, and he has banked some serious coin…puts out an interesting monthly comment
I like AUY too, just waiting for the pullback, or I’d have gotten some earlier.
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We are debating on Star Trek or Terminator, but I like Star Trek, and its my birthday weekend so….
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noice work, Monsieur Jake-ster.
RC is lucky.
My mother in law has been here all week (after my daughter’s wedding last weekend).
I just finished watching Mrs. Doubtfire for the bazillionth time and was outvoted and am now watching a chick flick called 27 Dresses (about weddings, of course).
I can’t take it so please consider this a plea for help.
On second thought, I am going to bed at (@ 9:30).
I hope the breakout holds at least through tuesday.
Trek is worth seeing. Although I’ve got to get out to terminator some time soon as well.
We saw Trek. Loved it. Just enough obeisance to the old show to make it respectful, but lots of good “new” Star Trekkie action too.
Oh, and the obligatory green chick insertion was nice too.
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some have better charts than others. I like AUY IAG a lot…. I do think we get a pullback soon with consolidation, but i will research gold later this weekend and then to the dollar. Notice though on weekly HUI brokeout and gave us a doji thats not a great sign. wouldnt be surprised with a pullback. in the meantime these are picks that have more of a 3 + month trade.. MON i feel is going down
unless HUI gaps up gold stocks going down to around 320 which should be around first week in june. have to relook at this later.
HUI on weekly versus daily shows much different pictures should be interesting to see how it plays out. overall it wont matter as gold/silver be going up
Happy Birthday Jake! Thanks for the great Silver & Gold calls over the past month; you’ve got the Midas touch! Enjoy your weekend!
Feliz Cumpleaños Jake.
What are your thoughts on the persistent Gold bug paranoia re: central bank manipulation of the price of that shiny metal?
Cuervo– I think there’s very little doubt that there is always some attempt by coordinated CB’s to manipulate the POG, just as they may “buy yen,” or “sell Euros” to “balance” the currency floats of their various fiats.
That said, I don’t think they will be able to keep the price down if they all coordinate to inflate, as they must in order to escape this debt black hole they’ve created, so I’m not especially concerned. You might as well attempt to submerge a fully inflated beach ball for a long period of time.
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Thanks for the B-day wishes everyone. Don’t forget to wish your Fly the same.
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You know, sometimes I am at odds trying to decide the country’s biggest publicly known douchebag. Sometimes, I think “default” and say “Trump, of course.”
Other times I get political and I think of the jackass who cost Romney the candidacy and left us with Grandpa McCain in the middle of the worst economic crisis since the Depression — good ole preacher douche Mike Huckabee. Then on a bad press day, I’m sure it’s Harry Reid.
But then I read something infuriating like this, about the cozy relationship between big corporate (fascist)* interests and “the green movement,” and I say, “how could I ever take Al Gore off his rightful throne?”
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*(note I call these interest “fascist” rightly, as they seek to impede natural innovative competition via a direct recourse to Big Government partnerships. To me this is as loathesome as any socialism, and is in effect, the same “socialism” the Nazi’s employed after they took power).
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It boggles my mind that we can have unemployment approaching 10%, the capacity utilization rate the lowwest on record, housing prices continue to fall, executives at places like CAT and CLF having their salaries reset lower, and people are worried about inflation.
http://research.stlouisfed.org/fred2/series/TCU
And on top of that, we have conservative economists like Greg Mankiw and Ken Rogoff out there are saying the FED should target a 6% inflation rate to alleviate the “debt bomb” and incentivize consumers to pull consumption forward.
The world has gone complete batshit crazy.
Satan’s Little Tiny Dog,
Inflation is caused by one thing — too much money chasing too few goods.
People are worried about inflation because — a la Mankiw and Rogoff — people realize the only way out of this mess is to inflate the fiat just like we did in the seventies.
With that much money clogging the airwaves, all it will take is a tiny uptick in capacity utilization to ignite the fire.
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See below
I’ve read a few Rogoff papers ( http://www.economics.harvard.edu/faculty/rogoff/Recent_Papers_Rogoff ) and found his thinking to be fairly interesting.
http://www.economics.harvard.edu/faculty/rogoff/files/Aftermath.pdf is quite interesting and a little bit scary.
*Note – you all need to do something about not being able to have two links in one comment. It’s a big pain in the arse.
Cuervos:
The “Aftermath” paper was picked up widely by the mainstream media. It should be read by everyone.
While all the market signals are currently saying the inflationistas are right (i.e., lower dollar, rising treasury yields, rising commodities and gold), I don’t think the final chapter on this crisis has been written after less than 2 years.
Bob Hoye says the recent market action is consistent with how markets behaved in each of the 6 previous Great Depressions, including the famous one in the 1930s. It’s a very good read.
http://www.cmre.org/hoye2009.htm
Happy Birthday, Jake! 39th, I believe?
A couple years ago traveling (and tasting) our way North through Napa Valley, we pulled into a little known tourist trap. Saw a couple very small natural geysers, nothing to rival Yellowstone, and THE WORLD FAMOUS FEINTING GOATS.
Yeah, for real. Certain small breed of goat whose defense mechanism, when threatened, makes ’em flop to the ground and play dead. Ergo, looks like they just fainted. None, whilst we were there, even once attempted to climb a tree.
Happy Birthday Jake.
Saw those fainting goats awhile back I believe on the show Dirty Jobs (Discovery Channel?).
Happy BDay Jake!
Happy Birthday Jake!
Appreciate all you do here.
happy birthday. Let the winners ride and cut the losers. I am goldmember: I love goldddd. I am also silvermember as i love silver.. let the drinks flow
http://a1259.g.akamai.net/f/1259/5586/5d/images.art.com/images/-/Happy-Birthday-Have-a-Cold-One–C10318372.jpeg
Happy Birthday, Jake. Have a great weekend.
http://www.someecards.com/upload/birthday_n/lets_over_celebrate.html
BTW, went to see StarTrek my own self today. That was a good time at the movies.
Mr. Gint,
I’d like to reach across the aisle and extend my sincere good wishes on the occassion of your birthday. Anton mentioned you at one of the meetings where we Democrats get together to worship President Obama and plot the end of capitalism.
May you live long enough to see my global warming warnings be accepted as truth, but not so long that you can only visit your beloved Long Island by submarine.
I’ve already given you the birthday present that keeps on giving: The Internets!
But if you’d ease up on the internet porn during business hours our power grid would burn 12% less coal.
Your pal,
Al
THE WORLD FAMOUS FEINTING (sic) GOATS.
Trained by Muhammed Ali, were they? 😉
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Al, it just made my day that your staffer misspelled “occasion.”
Now get back on that Stairmaster, and hook it up to a battery or something.
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Thanks for the b-day wishes everyone. A little bit older than 39, but maybe not as much as you’d think.
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“okay-shun”
My bad.
Happy Birthday big guy.
this is an Irish song for your haters.
http://www.youtube.com/watch?v=a7q3AVkcDY0&feature=related
Happy Birthday Jake. I appreciate your posts!
Would you say this play would work for Profunds PMPIX? And would you wait for a pullback?
Happy birthday Jake!
Marvin — not very familiar with that fund, and there’s no volume component on the charts, so I can’t recommend, but it does look like it’s breaking out w. the rest of the sector.
I’d feel more comfortable with the stuff I’ve mentioned. If you want to leverage these names, you might want to buy LEAPs on GDX or something a little more liquid like that.
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If that’s really Boomer’s wife — thanks!
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Lifting a homebrew to ya Jake – cheers and happy birthday!
Satanic Chi — thanks for the Hoye piece, it was very edifying and interesting.
The one point I might take issue with is his claim that we ever had a true fiat currency before. I would claim he is incorrect, and it’s only since 1971 that our currency has been wholly a “float” off the credit of our Republic. Even in the 1873 Great Depression, we had precious metal backing our specie — however inflated.
This quote from the piece, however, is so great I have to repeat it here:
“The real audacity is in the claims of charismatic economists that their personal revelations can provide one continuous throb of happy motoring. As Hayek said – Keynes, as a young scholar, was absolutely ignorant of financial or economic history. Only someone who was ineffably ignorant of financial history would claim that it can arbitrarily be altered”
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Canadian Prairie Dog — that settles it, we must meet at some point.
We are brothers from another mother.
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study on gold/dollar/market correlation
http://tacharts101.blogspot.com/2009/05/why-bears-stand-to-win.html
Another quote from Satanic Chi’s linked website (CMRE– Committee for Monetary Research and Education). This may explain, somewhat, why the vaunted “stimulus bill” has only allocated about 5% funds thus far:
“President Roosevelt Promises Deficit of Seven Billion by June 30, 1934. . . .But with all his good intentions, the President could not spend money that fast. The loan organizations were, after all, manned by men who had financial training and felt a responsibility for the Government’s money. They could not make loans which were nothing but gifts. They had the same ingrained reluctance to give away money that the mules on the farms had exhibited the preceding summer to trample down rows of corn or rows of cotton. It was against nature.”
from: “Economics and the Public Welfare”, Benjamin M. Anderson, D. Van Nostrand Company, Inc., 1949, pg 354.
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HBH
(Happy Birthday, hatchet)
Your very expensive ‘E-card’ should be arriving shortly.
LOL. Yeah, they floated like a butterfly just before they flopped, er feinted, er fainted…just before they hit the deck. Damndest thing ya ever seen.
Wow, that picture is the best!
It reminds me of a weekend my husband and I spent up in Green Bay, WI for a Harley festival and parade. After the parade we rode the Harley up to Door County because my husband wanted to eat breakfast at some Swedish restaurant he remembered up there.
Anyway, in the morning we went to the restaurant for breakfast and I just about fell on the ground when I saw about six goats on top off the roof. He never told me about the goats. It was the coolest thing.
So thank you for bringing back that memory.
And Happy Birthday! Birthdays are the best when you have little kids, because the kids get so excited for you.
And most of all thanks to all the military personel who have served for us, and to their families who have lost so much for our freedom.
I have two new junior gold companies I am buying. One is a takeover play (Canplats Resources) and the other is a company I keep reading different gold bug writers (one who is normally right on) go on about (ATW Gold). For the longterm. Both on the TSE.
Thanks for the b-day greetings. Yeah, my youngest (3) “helped” me open my presents this morning. He was disappointed they were mostly books and clothes.
I stay away from the TSE-only listed stocks. Once burned, and all that.
I wait until they get to at least the Amex (which the good ones often do).
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Kind of humourous (sic) — from politically correct fairy tales:
Hansel and Gretel
Hansel and Gretel were lost in the woods when they came upon a house made of candy and cake. An old witch invited them in and then captured both of them intending to eat them. Gretel had a chance save both of them by pushing the old woman in an oven but she decided that it would be wrong not to respect the witch’s cultural traditions. So Gretel and her brother allowed themselves to be cooked and eaten. The witch was so happy with the children’s actions that she invited all of her witch friends to the area. Soon thereafter, they ate every child in a hundred mile radius. Soon the whole area was filled with nothing but child eating witches and all the witches were very happy!
The Moral of the Story: You must respect the culture of others, even at your own expense!
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“Canadian Prairie Dog — that settles it, we must meet at some point.
We are brothers from another mother.”
LOL – well, if you’re ever planning to come to Vancouver, let me know…the Goldshow is as good a reason as any, it’s fun to go hear the speakers, and to be lied to by stock promoters.
I’ve been to Vancouver on a deal before. Pretty city, and I got a chance to check out that nice park down there.
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