There you stand, all “a-guts”with leftover Halloween booty, still feeling a little queasy from too much of that new beer you bought after seeing the “Most Interesting Man” commercial (you didn’t know it wasn’t Tecate… you just told the guy the guy at the bodega… “that Mex beer… you know?”)…
And now, this post-pumpkin Halloween Surprise and a half market.
Well, hold onto your grapes here folks, ’cause I think we’ve gotten an RSI scrape-out and bounce here on the [[HUI]] index, and I think the famed 38.2% fibonacci level has held as long term support in the $378 area.
This is significant because it looks like the price of gold is heading back up again– as mentioned Friday and again today– despite the best efforts of the IMF with their attempts at silencing the insatiable third world gold demand and despite even the recent dollar strength.
I think the overall markets may have one more wiggle before the lows are in, so you may have one more opportunity tomorrow to grab some miners before they begin their march back to El Dorado without you.
I like Golden Star Resources Ltd. (USA) [[GSS]] , [[EXK]] , [[CDE]] for “bang for your buck” cocaine dependent trader types, and I think IAMGOLD Corporation (USA) [[IAG]] and Allied Nevada Gold Corp. [[ANV]] and Eldorado Gold Corporation (USA) [[EGO]] are the best of the Jacksons right now.
As my nemesis, Hippy Red Neck Purdy has rightfully pointed out, [[BIOS]] has broken into that “free air” zone I mentioned in bloggish notes past. I think it’s good to the $9.50 area in the near-term, fwiw.
Last, for you degenerate gambling types, the double ETF’s [[AGQ]] an [[ERX]] are looking like they are ready to start le bon temps roulletting like a bourbon filled Jeremy Shockey in the House of the Rising Son with Ragin’ and Andy Swan as his parallel-pounding wing-men.
So hold your gourd, pumpkin eaters, this is seed-spitting time!
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Update: For the sadness of All Saints
[youtube:http://www.youtube.com/watch?v=Gvb65dCMjZI 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
your winship with the metals has been ridiculous.
Grazie, mi padrone.
It’s mere donkey stubborness, really.
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Great Picture !!!
Thanks…. wish I could take credit, but it was sent to me…
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Gold officially off the hook.
RGLD is my number one rec right now. This is what you should buy for the LOOOONG term
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in RGLD @ 46.44
my new apartment could use some gold touches
That stock is for Lady J’s grandchildren not for you or your ridiculously expensive apartment (got the QT this weekend from The Source).
Now all she has to do is find a suitable donor….
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unfortunately there’s nothing but ridiculously expensive apartments in nyc. Except my old one. Which I was happy with but Lady J, not so much.
Isn’t marriage great??
Get used to it.
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Seriously, have Fly set you up with a nice condo in Staten Island. Sure, it won’t be “cool” but think of the security of all those mafia neighbors.
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Jake, what in your opinion is behind SSRI lackluster performance lately., It just doesn’t seem to have the fortitude to get it self in to a better trading range. The majority of miners pulled away from SSRI beginning the first week of September. Am I making a fatal mistake and going to miss out on a huge ketchup (sic) wave Thinking about jettisoning this and moving in to something that has a little more life or volatility to it. Perhaps doubling down on my Silver Wheaton, Helca or even AUY.
SSRI has definitely been underperforming relative to the rest of the silvers. I’m even thinking of replacing it in the Jacksonian Port with ANV, EXK or maybe even CDE.
That said, I wouldn’t dump it all, as that would only ensure they get bought out by ABX tomorrow, impaling you on the horns of chagrin.
Rather, sell half or two thirds, and get some SLW or CDE with the proceeds. Hecla is a POS, not to be trusted.
If you do not already own SLW, btw, then shame on you.
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Sorry Mrs Gint
Gold was way up and long bonds fell today so Jake will be insufferable this evening.
…what’s that?
….oh, well then …even more than usual.
She keeps a ticker going on the tv, so she’ll know that I’m going to be wearing my white lab coat and bald-skin head wrap for my pinky sucking Dr. Evil schtick tonight.
(pose)
One MILLION dollaaahhhsss!
(pose)
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Thanks Jake
BTW Yes, I do own already own SLW, HL and AUY. Thanks again your advise is golden.
You’re welcome. Now join the PPT with all your winnings, and get all this real time.
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