In Rarefied Air

Some have grown fretsome and sold their gold miners to me in short sighted paroxysms of “management.”  They — these “some” — feel they are “managers” and therefore must “manage,” long term values be damned.

But let me ask you this:  if you were given a goose that laid — quite literally — golden eggs,  would you sell said poutlry for a handful of beans and a wide screen TV tube?

Would you wring it’s neck for a quick meal of pate and buffalo wings?

No, of course not.   You’d husband said semi-aquiferous creature and feed it only the best seed corn and malted beverages from the Villages of St. Ides.  

You’d sing to it.

Two charts I’m featuring  tonight are a perfect illustration of the opportunity we have before us.   The first, I’ve been mentioning for weeks.   A “latter day Jackson,” Allied Nevada Gold Corp. [[ANV]] is perhaps my strongest gold pick at the moment.  

It may pull back some more here, but there’s no question that this weekly chart is showing a trip to uncharted territory, on uncommon strength:

My second chart is a newcomer, courtesy of The PPT, and perhaps as strong as ANV at this moment.   Exeter Resource Corp. [[XRA]] is a new favourite of mine, and an irony to boot.

I appreciate irony, almost as I appreciate break-outs in trending stocks who also happen to be in super bull segments.

Look at this chart — this weekly chart remember — and ask yourself again.   Why would I want to concern myself with any other sectors at this point?   Why would you?

As they used to say on President & 5th — down in my old neighborhood in Prospect Park, Crooklyn — are you fookin’ kiddin’ me??

Be well.

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