Courtesy of my 12-Year Old: the New Fly Theme Song!
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I mentioned today that I was looking at banques, and by Banquo’s Ghost I’m excited by what I’ve been seeing… Let’s look at the “big bank index” first in [[BKX]] —
Sure, it’s overbought, but it’s also broken away from EMA’s that were keeping it down since Mid-October. With the strength of this move, you have to believe there’s more juice in the banks, and consequently, the market.
Even more interesting is the smaller cap regional bank holding ETF [[KRE]] . It’s not so overbought and really just breaking out today.
It’s full of crazy stuff like Bank of Hawaii Corporation [[BOH]] and East West Bancorp, Inc. [[EWBC]] , but that’s not the point.
At least not for me.
What it means to me is that the regionals are getting healthy, and what’s more, getting bought in this market. Check Huntington Bancshares Incorporated [[HBAN]] for an audacious example, but I like the stronger more conservative plays like PNC Financial Services [[PNC]] and BB&T Corporation BB&T Corporation [[BBT]] .
We’ll explore this more next week, perhaps after a bit of a drawback from all this giddyness. Or Jake Gittes’ness, if you will.
The good news is that, because we are coming out of a consolidation, we should have some nice low hanging fruit to gather, ovah heah.
Best to you all.
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ROFL @ theme song.
The Power Dip would have got you in EWBC, HCBK, AF, and others.
I will be closing EWBC tomorrow.
PNFP
That video and song were amazing.
I still own a small amount of CFNL since way back and am underwater (~$10) so i can get behind this thesis if it will allow me to free myself from that whore of a stock.
UPS ?
Just out of luck I bought some on Monday for Wife’s IRA…
Jake give me some more of your Granny specials ….I want to put some more to work. Set it and forget it stocks.
I second that request. Thanks in advance.
Great post and video, by the way.
You cannot go wrong with UPS. They are the the definition of “tried and true.”
Their pop today is also a harbinger of good things to come.
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I played the shit out of that game when it first came out. That was fantastic to see the process of building that video, seeing the rendering pre-skins was dope.
Ive heard many a thesis about the banks being good targets for early 2010 banking of coin. Im still on the sidelines but think – why not? Also builders are another place I think we will see more recovery.
Well the dollah sunk right back down. Time to get back into PMs?
SLV up 1.2% at the moment, GLD only 0.4%. Looks like silver will be the vehicle of choice on the next PM runup.
Look at my two babies, SLW and IAG.
Not so much “dead money,” eh? 😉
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GLD bounced off the 50-day moving average, while SLV is way above it. Silver will make new highs well before gold does, from the looks of it.
Well, considering that GLD has already made new highs while SLV lagged (back in late November), that makes some sense.
Silver has some catching up to do, Kemosabe.
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Hai, Jake-san!
Kemosabe = Tonto (as in Lone Ranger’s Horse, “Silver?”)
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I hate it when I have to explain ’em….
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Eh, I’m too young for that show… It sounded Japanese. So there.
“Looks like silver will be the vehicle of choice on the next PM runup.”
From your mouth to God’s ears.
to answer the metal art question.
no, as far as my metal sculptures I only do the nude female shape.
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/2_006_big.jpg
but I hammer those out in my art studio. I have a seperate machine shop (private, my own) with CNC machinery where I make all my components for my custom bikes, and also where I machine out any parts for prototypes of my designs/inventions.
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/M060419-KJCCeltic-168n.jpg
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/M060419-KJCCeltic-155n.jpg
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/M060419-KJCCeltic-007h.jpg
I’m not into bikes, but man, that is one amazing machine. The lady ain’t half bad, either.
You sure that isn’t a time machine?
Seriously, what do you start out with (frame, model) and what does it cost an aficienado to get a custom job like that?
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that bike cost a tad over 100,000.00, the one I’m building now is, when I get done aproaching far above 100,000.00.
I make my own frames. but I only make one bike at a time. I have too many other tings[sic] going on. I am an architect and am designing 2 huge developments right now also, plus my art, and of course I am a luthier and make one off high end acoustic guitars.
a guitar in the works.
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/viewofbracing02.jpg
latest bike in the works;
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/Jan-2008-9aa.jpg
You truly are an artist.
I’m glad you are getting paid for it. More people should.
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Do you have any finished pics of your guitars? I play a bit myself and it is always nice to see custom stuff.
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/scan000111xbig.jpg
Really, really nice. If I was a man of endless riches, I’d definitely grab one from you.
I had no idea you build guitars. Cool.
Is that Bubinga or something exotic on the sides?
Palo Escrito wood
Sweet.
The depth of life experiences and talents represented on iBC is staggering. Truly a diverse band of brothers (and a few sisters).
My Metal Tees Reeeeeeeeping with molybdenum scythes! (TC, TCK , TIE)
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XRA is up 50% since since i bot it. I don’t know what is up with this bipolar stock but glad i didn’t unload this one at thanksgiving like the rest.
also, UPS…nice.
Yeah, I didn’t sell any of that one either, but only because I had a smaller position than I wanted to get to. Same is true w RGLD.
Btw- Lou is playing St John’s and then Villanova today and Monday. “Cheese n’ crackahs!”
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I didn’t sell my ANV and just re-bought IAG. Missed CDE and PAAS so I’m waiting for a slight dip there. Jake, did you re-load all the ones you sold earlier or are you waiting for a proper dip? Tks.
Still waiting. Getting increasingly fidgety, though. Went long a couple of banks last week. BBT and PNC for two.
Also RDN on an RC prompt.
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Avoid the Regionals per Goldie:
http://www.businessinsider.com/goldman-sachs-9-to-watch-for-2010-2010-1#big-banks-with-consumer-exposure-will-keep-growing-6
Goldie also says to avoid gold. Imagine that?
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I like your KRE chart. I daytrade several times a week between the XLF and KRE on a relative strength basis both long and short.
Not only does TheArtist have the best avatar he can sure produce quality art be it a bike or a sculpture.