My friend Mr. Russell was reconstituting today, just as my enemy Mrs. Pelosi was trying to reconstitute our country’s energy markets. So you can imagine it was a bit harum scarum.
I will come back later, and blog like the wind in the willows (maybe I’ll have illustrative capabilities back by then), but now it’s off to a super important pool party replete with screaming brats. Ah, parenthood.
Later.
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Back, and I’ve looked at the JCHP for today, and save for the bizarro behaviour of usually reliable Royal Gold, Inc. [[RGLD]] , it looked like a general consolidation day for the PM’s, which is natural given the large moves a number of them made yesterday. Eldorado Gold Corporation (USA) [[EGO]] continues to look good here, as do a the juniors I’d mentioned earlier in the day (see last post).
I will try to find out wtf is going on with RGLD this weekend.
The other good news is that the non precious metals — Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] , as well as ag supplier The Andersons, Inc. [[ANDE]] all look like they are uncoiling out of their bullish flags again. Keep a close eye for volume increases.
Last, be sure to keep an eye on the biotech pinless hand grenades I’ve tossed around over the last couple of weeks. A number of them did the astral elevator today, I think because of Russell Reconstitution Day. They included [[HEB]] , [[CTIC]] and ImmunoGen, Inc. [[IMGN]] .
Lastly, Fly’s chip box chomper of the future, [[ENTR]] had a nice gain today, but more important, it rose on huge (almost 16x average) volume. I did not see their name in the Russell rebalances, so this volume remains a mystery. Something to look for on Monday, however, as significant volume is usually… well… significant!
The Jackson’s on Friday:
| Name/ | % | ||||
| Ticker | 25-Jun | 26-Jun | Change | Comments | |
| ANDE | $ 29.95 | $ 30.23 | 0.93% | Moving nicely out of the bull flag | |
| EGO | 9.39 | 9.40 | 0.11% | Consolidation day for gold | |
| GDX | 39.99 | 39.20 | -1.98% | Ditto | |
| GLD | 92.31 | 92.29 | -0.02% | POG broke briefly over $940, then back. | |
| IAG | 10.58 | 10.48 | -0.95% | Consolidation day for gold | |
| MON | 75.66 | 75.25 | -0.54% | Ditto | |
| NRP | 20.83 | 20.82 | -0.05% | Flat again, forming bear flag? | |
| PAAS | 19.34 | 19.08 | -1.34% | Held up at the 200 day EMA | |
| RGLD | 46.00 | 42.07 | -8.54% | Freakish late day drop. Be prepared to cut | |
| SLV | 13.81 | 13.90 | 0.65% | Up with the POS | |
| SLW | 8.81 | 8.72 | -1.02% | Held up at the 50 day EMA | |
| SSRI | 19.65 | 19.52 | -0.66% | Held up at the 50 day EMA | |
| TBT | 51.03 | 50.84 | -0.37% | Near flat today, could be done w. pull back | |
| TC | 10.31 | 10.44 | 1.26% | Like ANDE moving out of flag | |
| TCK | 15.99 | 16.56 | 3.56% | Same, looking very strong here | |
| TZA | 22.74 | 22.50 | -1.06% | Flattish for a triple. | |
| AVG (daily) | -0.63% | ||||
| AVG (monthly) | -6.44% | ||||
| AVG (inception) | 15.49% | ||||
Update: The Ozzie’s get it right. Or at least their Senate does. Let’s hope our own Senate can be as astute when this criminal theft Al Gore bill comes before them. Hold your reps accountable on this one, people.
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Was your pool party for a 5 year old’s birthday?
Five? No…. I think she was nine. My daughter’s friend. I ended up having to take the baby home early. Good times.
OXGN is another biotech hissing hand grenade I had that leapt like a startled doe today.
Be wary.
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MITI too!
ERII along with your CWCO also advanced – maybe some water etf is buying them (???)