Thanks, L’il Buddy!
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As Fly may have already catechized, The Turkey Gods are all about “giving thanks and praise.”
So this month especially you must dig out the old acolyte’s robe, dust off the incense urn, and begin “lubricating the pipes” with a mixture of chamomile tea and castor oil to ready them for the proper Gregorian hymns and chants of the Season.
This year, a full First Rite ceremony of Turkey Carols and strong-bourboned wassailing will be reserved for the Blessing of the Lemmings — that annual bishop’s tradition whereupon all good Lemmings worldwide are blessed by the Turkey Gods for turning over the proceeds of their accounts to those more weurthy (sic), in the Gobblers’ Mercy.
That would be we of the Jacksonian bent, who have been blessed once again with said proceeds, thanks to an Oracle from the West, who has instructed his flock to proceed swiftly over the cliff of “Short [[GDX]] ,” much to our non-chagrin.
May he and his tribe prosper and multiply — in at least a more favorable rate than they have been proceeding over aforesaid White Cliffs of Dover.
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To add to this morning’s glorious GDX burst, we are coming Turkeygod-awful close to $1,100 on the price of gold. This is a psychological barrier, obviously, as the more technical resistance resides about $20 north of that line.
That said, should we burst through $1,100, we may get a Maypole Dancing psychotic celebration of short covering in the miners as a whole, in which case, you want to be owning some juniors for purse-snatch quick gains that will accrue.
I like Golden Star Resources Ltd. (USA) [[GSS]] again, but also Allied Nevada Gold Corp. [[ANV]] ,
Yamana Gold Inc. (USA) [[AUY]] ,
[[BAA]] ,
[[CDE]] ,
Eldorado Gold Corporation (USA) [[EGO]] ,
[[EXK]] ,
Eldorado Gold Corporation (USA) [[EGO]] ,
Hecla Mining Company [[HL]]
IAMGOLD Corporation (USA) [[IAG]] ,
Ivanhoe Mines Ltd. (USA) [[IVN]] ,
NovaGold Resources Inc. (USA) [[NG]] ,
New Gold Inc. (USA) [[NGD]] ,
Northgate Minerals Corporation (USA) [[NXG]] ,
[[PAAS]]
[[PTM]] (platinum WILL catch up!)
Rubicon Minerals Corp. (USA) [[RBY]]
Silver Wheaton Corp. (USA) [[SLW]]
Silver Standard Resources Inc. (USA) [[SSRI]]
Exeter Resource Corp. [[XRA]] , and,
most important of all — Royal Gold, Inc. [[RGLD]] “The Grandmother Stock.”
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On other fronts, commodity plays Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] are doing well again, and The Andersons, Inc. [[ANDE]] looks like it may have at least temporarily arrested it’s fall.
Monsanto Company [[MON]] is finally working on that Bollinger Band crash trade from a week back, at over $70, and let’s not forget about le grand merde fan hedge — [[TBT]] .
Last, pinless hand grenade [[CVM]] is on the move again, don’t ask me why, ask the Turkey Gods.
Pax Vobiscum, Children of the Turkey.
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Thompson Creek Metals Company, Inc. [[TC]] If you enjoy the content at iBankCoin, please follow us on Twitter
Jake, any concern we may be in nosebleed territory?
Miners or the market itself?
The miners are lagging gold, valuation wise, historically.
Silver, especially.
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ROFL @ “This year, a full First Rite ceremony of Turkey Carols and strong-bourboned wassailing will be reserved for the Blessing of the Lemmings — that annual bishop’s tradition whereupon all good Lemmings worldwide are blessed by the Turkey Gods for turning over the proceeds of their accounts to those more weurthy (sic), in the Gobblers’ Mercy.”
I am hoping for an Annual iBC Holiday Celebreution (sic).
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Fly beat me to it…great prose, sir.
SSRI has issues on the brutal guidance and production, i put on a pair trade long SLW/short SSRI this am…SSRI will loose alot of momentum similar to what happened to KGC on the gold side last week, so in the doghouse for a while and dead…better off SLW or more ANV
That carries it then… it’s definitely off the “A-team*” — the only question will be whom to replace it with… ANV or AUY?
Or perhaps EXK to keep a silver in there? As much as I love CDE, it’s crappy rep will keep it eternally banished from the Jacksons.
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*I will, however, keep it in my portfolio, as selling out here would only guarantee they are bought out by ABX next week at a leg-stiffening premium.
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GG is probably best run large miner..good assets in good jurisdictions and not screwing up on execution…so that would be a good choice…if u want the potential upside of a takeout ANV and AUY are better plays…i like to have all of them in the portfolio….of the 3 i own ANV most,,,i like the transition to emerging producer as always gets rerated higher…and to me Bob Buchan (ANV) is golden…smart scotsman…and a good guy to hang with
RHILL:
Concur with the GG,,,,Fav on the ‘Big Boy’ side.
Made the egregious mistake of not converting my Wheaton Minerals when purchsed by GG and walked (sold) due to what I personally believed (stubborn) was an undervalued price for Wheaton,,,,Unfortunately! Ouch,,,,,(CB Sub $10).
That being said, SLW became the replacement @ CB 4.05.
Ultimately, worked out well.
Indeed!
I have owned WHT and GG since 2000, and I love it (them).
The only reason I would not make it a Jackson is because of the same reason I would not make AEM or ABX Jacksons….
I want to own acquirees in the JCHP, not acquirors.
That said, GG is very weurthy (sic) for anyone’s IRA account.
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SVM,,,?if your seeking to replace a Silver with likekind,,!
Personal Jacksonian’s :
AUY; AZK; CEF; EGO; EXK; GSS; HL; IAG; MFN; NG; NXG; PAAS; PAL (Long Dated Calls); ROY; SLW; SVM; & TGB.
Majority cores from ’03, yet trade around the initial positions.
Larget %: SLW; CEF; AUY; SVM; TGB
CEF is just GLD + SLV, but I still own some because it was around before those two. Not a Jacksonian however.
SVM I will give some consideration to, TGB, too small.
SLW is my baby, as you already know.
PAL is a dawg w. fleas, and not any more Jacksonian material than HL or CDE.
ROY is just a minor league version of RGLD, so I wouldn’t bother. Why own a duke when you can own the king?
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RGLD BTFO to all time highs
Hat tip to Jake
Woohoo!
I have been pounding the table in the PPT on RGLD. Really, it’s the one you should own — it’s “Sauron’s Ring” ==
One Ring to rule them all, and in the darkness bind the (lemmings)
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