Today was that rarest of days — an entirely red painted day for the Jacksonians. Even when the PM’s are having one of their regular group regurgitations, I can usually count on MON or NRP, or one of my less precious groups like TC , sturdy TBT or even blessed Mr. ANDE to come to my aid. But not today.
All bloody red. Impaled on the hard cold grounds of Boston to the tune of some 2.5% down.
But that’s the breaks when you are building a hard money portfolio that was up some 25% in a month. You are going to have to expect some pullbacks and yes, drawdowns. We will talk about certain hedging strategies over the weekend and I will have a later post tonight to go over the specific individual Jacksons and some of my other picks in more detail.
For now, it’s off to a well-deserved libation and the start of my weekend. I will see you all later tonight with the roundup.
Addendum: I did add some today but just a bit. 1,000 shs of [[TIE]] at $11.01 and 1,000 shs of [[CDE]] at $12.50. They looked like they had pulled back to some stability. We’ll see, as I plan to add more of both in future.
Special Addendum: Vincenzo explains to Fly what happened with the servers this afternoon:
[youtube:http://www.youtube.com/watch?v=4KsU89R1A8M 450 300]
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Update: “Bloody” Jacksonian Results for Today:
| Name | 11-Jun | 12-Jun | % Change | Comments | |
| ANDE | $ 30.70 | $ 29.79 | -2.96% | Nice move down, next stop 20day–$26.40 | |
| EGO | 9.15 | 8.79 | -3.93% | Hung right on the 50-day @ 8.74 | |
| GDX | 40.92 | 39.54 | -3.37% | 50 day at $38.39 | |
| GLD | 93.70 | 92.17 | -1.63% | POG under $940. | |
| IAG | 10.08 | 9.85 | -2.28% | 50-day @ 9.44. | |
| MON | 86.85 | 86.54 | -0.36% | Relative strength is strong here. | |
| NRP | 24.21 | 23.85 | -1.49% | Right on the 20-day line at 23.63 | |
| PAAS | 22.61 | 22.04 | -2.52% | Tested 20 day holding here. | |
| RGLD | 43.92 | 42.64 | -2.91% | Bounced off 50-day EMA @ 42.22 | |
| SLV | 15.13 | 14.63 | -3.30% | PO Silver down 56 cent. | |
| SLW | 10.26 | 10.05 | -2.05% | Held 20 day trendline pretty well. | |
| SSRI | 22.81 | 21.95 | -3.77% | Closed just a hair below 20 day EMA | |
| TBT | 57.52 | 56.59 | -1.62% | Continued pull back. 20 day @ 54.90 | |
| TC | 12.13 | 11.76 | -3.05% | Even TC needed a rest today. | |
| TSO | 14.98 | 14.98 | 0.00% | Flat, sold out. | |
| AVG (daily) | -2.35% | ||||
| AVG (monthly) | -2.67% | ||||
| AVG (inception) | 22.40% |
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Dow Theory Jake ,I know you say it is outdated…..The non-confirming Transports have finally caught the attention of today’s Wall Street Journal. The Journal talks about freight-car loadings. The association of American Railroads reports that “loadings have zigzagged up and down within a downward trend since March. The plunge in rail-car loadings is one of the most glaring non-confirmation signals for those of us rooting for an economic recovery and a sustainable bull market.” Russell comment — The falling freight-car loadings may tell us something about the refusal of the Transports to confirm.
Doesnt matter right….
I never said Dow Theory was outdated. You have the wrong guy.
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Jake,
Hilarious video. I have an entirely new appreciation for both Fly and Vincenzo. Although I pictured Vincenzo… taller.
My vote for the open Jacksonian slot is one of the uranium plays. I like the correlation the sector has with oil, as the price of oil rises, uranium becomes more attractive as an “alt” energy play for the long run.
I think it was Alpha who turned me onto UEC about the same time I was beginning to assemble my own Jacksonian portfolio. I opened a 1/3rd position in early May at 1.40 and did so well, I decided to double my stake with another 1/3rd position at the end of the May in the 2.20s. Since May 12th, when I opened it, my total UEC position is up (including today) a Jacksonian 39%.
It is volatile. Down days of 7-10% are not uncommon but they have almost always been followed by equally large up days. And as a bonus, I’ve noticed it is slightly uncorrelated with the rest of the Jacksonians I own (which is about half of your list – a few of your silver plays, MON, TC and a little GLD).
In fact, today, URE was one of a handful of positions I own which ended the day green. The other play in this area I like is the well established CCJ, but it seems fairly valued to me and I am trying to decide a good entry point.
Sleepy,
Thanks for the suggestion. I actually own a but of URRE, but would not dream of making it Jacksonian. I try to go for over $5 stocks as a rule, merely for volatility’s sake. I got burned on CCJ in the past, so I’m biased, but I’ll take a look at your other one.
If anyone else wants to suggest some Jacksonians, I will put up some parameters this weekend.
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