Just a few quick notes on some positions. A lot of our shiny friends either gapped and faded, or dropped a bit today. Lately, a lot of the PM’s have been gaining strength towards the end of the day. Here’s what I’m looking at right now:
[[ANV]] Gapped up on Friday’s over Thursday’s $7.29 close, went all the way to $7.96 and then came screaming back to earth when people started abandoning the precious plays for more “frapjous day” picks today. I alerted The PPT about the gap fill potential, but it never got lower than $7.32, and is now at $7.40. I’d wait and see for the fill, but that may be as close as we get. [[EGO]] did fill it’s gap from Friday morning — to the penny at $9.75, and now looks to be coiling for another move. Again, alerted The PPT, thanks to the easy to read (and write!) “User Notes” page over there. At $9.87, this looks like it’s still following the liquidity here. [[MON]] actually gapped up THIS morning, with the big market move, and then proceeded to give it all away and then some. I’m not ready to give up on my MONGO’s quite yet, but I want to see MON hold this $81.00 level here or I going to think we’ve got a failure to communicate ovah heah. MON did not fill that gap to $85, this morning (it got to $84.35), which gives me some comfort as I believe it will do so before deciding where to go next.People on The PPT have been asking me for an entry on [[SLW]], and I said that “nine out of ten times” SLW will fill that gap you saw on Friday morning. Trouble is, you may have to wait a long time, and then there’s always that “tenth time.” Right now SLW looks more like it want to test this morning’s highs than fill last week’s gap. We’ll see.
As expected, the $HUI — our “Gold Bug’s Index” — has rattled about in the $400 resistance range, and has been turned back for at least a brief rest. I expect this may be a good week to accumlate if you haven’t yet availed yourself of the riches of General Jackson.
Keep a close eye on [[TBT]] as well, as it was up strongly yet again (I did away with half of my hedged call position there this morning). If rates continue to rise, inflation and it’s hedges will have the day.
Happy hunting and gathering, Jacksonians.
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You could have at least thrown another Jessica Biel nugmeat pic in there…
Does she strike you as scholarly?
What’s really odd is that I swear I posted this at two o’clock… and even linked it…
Then it disappeared.
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Just curious about why you guys would have a PPT sell rating on TBT.
Looks like a pretty nice trend to me.
The PPT is a fickle mistress at times.
Not unlike my wife, it changes it’s opinion quickly, decisively, and with no notice … and it’s up to you to keep up. At your own peril, of course.
I saw your post momentarily, but then it disappeared, POOF
What gold names would you suggest on a pull back for someone that cashed in prematurely. Still sticking with NXG, GLD RGLD, GG, AUY, and NG? Do you prefer any over the others.
Thanks
Just curious about why you guys would have a PPT sell rating on TBT.
The PPT only gives a technical rating on ETF’s so it’s not always that helpful.
Probably went to a sell today on the pullback from Friday, which was rather drastic.
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DocDirt — I am looking very closely at GG and AUY on the pullback here, since I don’t have a ton of either and would like to build some positions.
It’s up to you whether you want to trade some of the small caps that have banked egregious gains… they generally will pull back harder than the bigger boys, though.
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LOL – looking for some pic with her in a cap and gown or some such “scholarly” garb and found this little trio of hotness.
imo TBT will be a better play after June op ex.
DMG — damn, she almost looks plain next to those other two.
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Biel has always had a manly streak about her. She’s worked hard these last few years to suppress it, but sometimes it still rears its ugly head.
And as we see here, this is especially obvious when placed next to such natural wonders as Jennifer Connelly.
Not very manish in this pic, actually quite nugalicious.