While it may have seemed we only experienced a slight pullback day for the market, today was in fact a sad day for the Jacksonians, as we saw another original candidate get the old “heave ho” out the door for lack of performance. I will admit, I gave Natural Resource Partners LP [[NRP]] a little more leeway than I did Tesoro Corporation [[TSO]] , as it carried with it a phat dividend (over 10% as of today) and it was a royalty play rather than an operating miner (much like fellow Jackson Royal Gold, Inc. [[RGLD]] is a gold royalty play), which I thought gave it some “rent safety” over the operators. No such luck.
You see in prudent Jackson land, there’s only so much loss a play can take, and when NRP broke $19.31 today (a significant support level), it hit our stop, and we sold the remainder (207.555 shares) for a loss of 19.9%. Luckily, I only had 1/2 a position left, having sold the first half at $20.50. Still the bludgeoning (before dividend payments) was substantial.
What was I thinking picking a stock with a symbol so easily dyslexia’d into the acronym for National Public Radio, anyway? Should’ve been a sign to me …
Luckily, despite these minor setbacks, the rest of the Jacksonians are hammering along hard enough to keep the overall returns over 21.6% since inception on May 1st. The Andersons, Inc. [[ANDE]] and Teck Cominco Limited (USA) [[TCK]] remain my top winners (even as I added to my TCK a scant few weeks ago at current levels, my blended return is still 40%).
I believe the gold and silvers are going to take off here as we head into the last months of the year, as they are wont to do historically. In that regard, IAMGOLD Corporation (USA) [[IAG]] , Eldorado Gold Corporation (USA) [[EGO]] and Silver Wheaton Corp. (USA) [[SLW]] are my top performers, with returns of 44.64%, 39.13% and 30.05%, respectively, since May 1st inception. Of those, I think SLW will have the greatest momentum as we head towards Christmas, because silver continues to be undervalued compared to gold.
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Speaking of gold opportunities, I threw out New Gold Inc. (USA) [[NGD]] yesterday, and although it didn’t move an inch either way today, I continue to think it a strong play here, especially on a pullback to the $3.30 area. If we’re not that lucky, I believe it’s a buy over $3.55 as well.
I also wanted to point out another junior that I think will be a mover going forward here — Rubicon Minerals Corp. (USA) [[RBY]] . Have a look at the daily chart:
And really, I think the weekly should cinch it for you. It’s so eeeeeasy– a cup and handle, for goodness sakes! And on the weekly, no less. My take: wait for that break of $3.21, and then… blammo!
One last admonition — watch [[UUP]] tomorrow for your signal. A break above $23.31 or so will mean a little bit more waiting on the gold selections. But if UUP turns down again– towards my target of $23.05, that will probably mark the break out run of a great many junior gold and silver plays.
Best of luck to all my Jacksonian stalwarts.
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I think that UUP tell will be key for stocks also. Oh bonds also…
Ginnie Mae 4.5% – 30 year Down 5/32nds at 100.125
Fannie Mae 4.5% – 30 year Down 6/32nds at 99.984
Fannie Mae 4.0% – 15 year Down 3/32nds at 100.484
Fannie Mae 4.0% – 7 year Down 0 at 100.906
Ten Year Treasury Note Down 9/32nds at 100.968
30-year Treasury Bond Down 15/32nds at 103.468
(32nds)
Ginnie Mae 4.5% – 30 year Down 2 at 100.218
Fannie Mae 4.5% – 30 year Down 3 at 100.078
Fannie Mae 4.0% – 15 year Down 1 at 100.546
Fannie Mae 4.0% – 7 year Up 1 at 100.953
Ten Year Treasury Note Down 5 at 101.093
30-year Treasury Bond Down 5 at 103.781
Ginnie Mae 4.5% – 30 year Down 1 at 100.25
Fannie Mae 4.5% – 30 year Down 2 at 100.109
Fannie Mae 4.0% – 15 year Down 0 at 100.562
Fannie Mae 4.0% – 7 year Up 1 at 100.968
Ten Year Treasury Note Down 4 at 101.125
30-year Treasury Bond Down 3 at 103.843
getting closer to flat at the open?
John Tysseland is a goat fucker…
SVA up another 27 cent ($5.74, up 4.5%).
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FWIW — I’m not sure the dollar can survive this Helicopter Ben re-appointment news.
I think it’s slowly dying of fright knowing it’s about to be tossed from a Chinook at 1,000 feet again.
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For the rest of the year, I’m gonna be hanging out in the (5%) margin range. No sense playing by the rules when you’re perpetually punished for doing so. This is all about taking as much as you can and holding it until the government just sort of casts off your debts for you.
Well, you’re just a lucky bystander in this case. In fact, what our gov’t seeks to do is to cast off it’s own massive debts.
Imagine you are an oldster getting BOHICA’d by the “no COLA increase” on Socialist Security this year?
Strong Message to liberal doofuses: THIS IS WHAT HAPPENS TO YOU WHEN YOU PLACE YOUR TRUST IN GUMMINT AND NOT IN YOURSELVES AND FAMILIES! LEARN IT WELL.
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By the way Jake, I didn’t hear. How was your vacation?
Very pleasant from a weather standpoint. Even got a nice night in NYC this year (the rest of the time we were either in Maine or beaches of Lawn Guyland).
Overall exhausting traveling with so many kids, however… you eventually need a vacation from your vacation.
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Jake, Congrats on your SVA call!
What are your thoughts on SLV? It is my larger PM position and I am thinking about just selling it at break even and putting the money to better use, as in SLW or another silver play?
Remember my Copper Mountain Mining (CUM), CDN copper mine getting ready to open? Well that little sucker is up 19% since I first decided to buy last week. And guess what? I didn’t buy. argh!
Anyway, I have another one I think will do really well over the next year and it is Polymet Mining (PLM) out of Northeast Minnesota. They are going to be re-opening an old copper/base metal mine this coming year which supposedly has the largest un-mined base metals ( especially copper I think) in North
America. All infrastructure in place, including railroad to haul goods out. Supposed to employ several hundred people. It has been climbing pretty good lately, too.
I read an article today that said small caps perform significantly better than the S&P 500 in the year (and held for five years) following the beginning of every single recession since the GREAT BIG ONE, and listed their findings for each recession. Very interesting. I can post link if anyone wants to read it.
I would hold onto at least a little bit of SLV. It’s one of my larger positions (as is GLD). I consider them “ballast.”
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Well PLM did pretty well until it closed 5% down today. I should have looked closer before I spoke, but longterm, I think it’s a good one to own.
I’ll have a look, thx.
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JAKE! WHAT DID YOU DO WITH TED KENNEDY!!!
In all seriousness, RIP Ted Kennedy – a true American political icon.
In July 1969, after leaving a party, Kennedy drove his car off the Chappaquiddick bridge. He escaped uninjured but political aide Kopechne drowned. Kennedy left the scene of the accident and did not call police until the next morning resulting in speculation he had been drinking. Kennedy pleaded guilty to leaving the scene and was given a suspended sentence of two months imprisonment.
RIP??? Fug that piece o’ shite.
Not saying the man was a saint (afterall, it takes no small measure of skill and bad decisions to not get to run for POTUS with the Kennedy name and legacy behind you)…just that he was an icon of US politics and he does deserve some respect for that.
Sort of like Ray Lewis…I may not care for the man personally and believe that he’s just a criminal, but I would have to agree that he is indeed one of the greatest LB’s to ever play the game. See also: Pete Rose.
Ray Lewis only did one evil thing (that we know of), and it only affected one person.
Kennedy’s agenda, carrying with it the arrogance and venality of the Me generation, has put this country on the precipice of abandoning it’s core principals of liberty and freedom from government tyranny.
Perhaps his death can become metaphorical in historical terms, and some good can be said about him.
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Bullshit… Ray Lewis accomplished something in the sport and has a provable talent.
What did that blowhard, drunken parasite ever accomplish except strengthening the argument for term limits?
You do see the irony, no? If he had the healthcare coverage under this universal health care reform bill that he so earnestly supported, he would have never been able to prolong his life as long as he did over the past year.
Flotek him and the car he floated in on.
Choke out. All for the best. He was trying to re-engineer his state’s senatorial replacement system for the second time in five years… this time to do exactly the opposite of what he had asked for the first time around.
This time, the gubner is a Dem you see.
I won’t speak badly of the dead, but let’s just say he remained “true” to the end.
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NGD looking tasty here…. let me do a quick “analysis.”
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I sense a new Oliver Stone movie on how the Bushes have now killed all of the Kennedys.
And probably a new Billy Joel song, too.
Not quite yet. Capt Douchebaggio, Chris Matthews, said that Obammy is ‘the last Kennedy brother’ this morning…
The last Kennedy brother to give him a “leg tingle” anyway.
What a flaccid dork that guy is. Get him some Cialis.
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New Post ————————>>>>>>>>> Caution flag on TBT for the fib break. Buying NGD, (prolly) here.
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