I was just off reading some other blogs and I’m finding that there’s quite a bit of misery out there. You might imagine from where that misery stems, if you are wont to read more “misery oriented” blogs than this one.
In one particular meloncholy review, I even started to feel sorry for my friend Tim, The Enchanter. He’s a little bit down in the jowls these days because the world hasn’t fallen off a cliff as properly prescribed quite yet. It’s a monetary phenomenon, I says. It’s a conspiracy of Owls and black flutes, he says. Whatever.
I’m here for some solace for the bearish and perhaps an idea or two. My friends, we are coming to an exciting time of year and I hope you will bear with me. September, you see, is a traditional crap pile for all that is Equity. Something to do with the Medieval harvest payments, or the rise of the Mayan Moon, but it’s always been our worst month for stocks since your grandmother can remember. That should make some of our Ursines, happy, no?
The good news for we Jacksons is that August comes before it, and August marks the start of the precious metal bull season on into it’s tumescent end in Happy Claus. In other words, it’s a good idea to buy gold and silver here in Jewelry’s Worst Month because it only gets better as everyone picks out their silver pumpkins brooches, gold encrusted turkey lame dresses and platinum filigreed Christmas chokers in the coming crispiness.
And don’t even get me started about back to school.
Let’s have a look at our friend Baby Huey ($HUI) shall we ? Here’s a triangle you’re going to love by next month:
You’ll note we’ll be “do or die” by mid-September. Want to make a wager on whether we break out before then?
Now a specific pick that I really like, and have for a while, Non-Jackson though it may be. Here’s the old chart of New Gold Inc. (USA) [[NGD]] I gave you back on May 21st, 2009:
Now here we are three months and 45.5% higher at $3.49, but don’t thank me just yet. I think we’re getting ready to rock the Casbah in an unctious and lugubrious manner. Checkout what chart analysis number two brings forth:
Yeah, it’s pulled back a little on Friday, but that may mark your opportunity. Frankly, I’d be surprised if they bludgeoned this little junior miss back to $3.25, but if “they” did, that would be a magnificent place to throw in an order. I know I will be looking to add here on Monday, or maybe Tuesday if we do get second day of pullback, and I will keep you updated.
These juniors can really move with this gold bull, so make sure you keep an eye on Rubicon Minerals Corp. (USA) [[RBY]] , Allied Nevada Gold Corp. [[ANV]] , [[BAA]] and their brethren, even as you line your portfolio with sturdy Jacksons for the coming Fall (possible pun intended).
Best to you all.
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In the fwiw dept.
Fleck on Friday, said: “I added to my metal-stock holdings today, for what it’s worth.”
Makes sense, even from a seasonal-only basis.
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I’ll be keeping close watch with you Jake – these names worked out incredibly well for me the last round – my good thanks for shining a light on them for me.
Glad to be of even small service to the biotech brainiacs from JCL’ blog.
Least could do.
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There you go with that RSI(14) schlock again. lol….
Hey Jake, maybe you and I can pair together to test RSI setting over the precious metals and miners? Maybe.
Maybe you could go blow an emu?
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When NGD and Western Goldfields (WGI) got together I was all over it, as it made for a very nice combo. Assets PLUS Production, very good. I filled my boots too,
But: “August 21, 2009 – VANCOUVER, BC – New Gold Inc. (“New Gold”) (TSX and NYSE AMEX – NGD) today announced that it has entered into an agreement with a syndicate of underwriters, under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 26,700,000 Common Shares (the “Common Shares”) at a price of $3.75 per Common Share for gross proceeds of $100,125,000. ”
Sure, its always good to have more cash these days, but don’t you find this ‘3.75’ (in CAD, I believe) sale is a share price suppressing way to get it?
Not if the Looney goes to parity (parody?) with the greenback! 😉
I have to admit, that’s a LOT of dough… I’m interested to see what they do w. it.
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Optimally, you want to buy NGD on Wednesday at 11 am at $3.30 or so…. no, I’m not kidding.
That’s where the price hits the trend line and some recent support.
OTOH, if it stays strong here, and does not continue to pull back, buy the break of 3.54 on any volume.
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To my Canuckistanian Lurkers —
What is going on w. your banks?
BMO is melting down as we speak while those nasty ‘Murican banks are having a party.
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Indeed, I certainly don’t expect the same level of earnings from the Cdn Banks, mostly because they have to EARN their earnings, rather than simply abusing the taxes of many future generations of Americans to create yet another giant slimy nose bubble. Which the ‘too big to failers’ of the US (GS in particular) suck in and out like a one year old with a head-cold until it bursts afresh all over everything, subsequently they use the citizens of the US like a handkerchief again to clean up their mess, apparently ever ready to be at their disposal time after time.
Good Luck with that.
Nice imagery. I’ve got small children, however, so no need for “reminders.”
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I’m waiting around with my arms crossed, tapping my toe while staring off into space, anticipating a bank smack down here in Johnny-Come-Lately Land. Maybe the politburo’s, I mean, federal government’s collaring of the banks really did keep them in line – I’m having a tough time to believe that, though. I guess we’ll see this week just what shade of lipstick is fashionable for pigs in this earnings season, and if it makes damn fools want to take them to the chicken dinner at the local curling club.
BMO showed their true colours [not sic] when they had all that crappy ABCP exposure.
I keep my paper money in a credit union, if that indicates what I think of our chartered banks.
See that NRP blew through my last stops this morning… out at 19.30… pos was hurting the Jackson’s worse than TSO was.
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SVA is BTFO over 5.47
If you were on the PPT, you would have seen my additional buy this morning at 5.28-.29.
If you are not, well, here’s the breakout.
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$UUP coming up against “line of death” @ 23.30 and downtrend line @ 23.31.
This could change the game for the short term if we get a break above.
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UUP closed at $2.29… right up against trendline… make or break tomorrow, I guess.
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NEW POST!! —————>>>>>>>>>> more sexy Junior gold axtion (sic)!
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