Maggie Lays It Out for You
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I think it fitting that I spent most of the day away from you, gentle reader, in a room full of bored and cored, screw-tapped and dew-lapped copper, titanium and aluminum gew gaws.
What better way, after all, to celebrate the next emerging bubble in basic and precious metals than to revel in the presence of those commodities end-products? And here’s what’s crazy… despite the high prices of these manufacturing inputs, the companies that produce highly machined components from these sources are getting TOP dollar right now, less than 13 months from a near Armegeddon bottom in March of 2009.
Imagine that, huh? One would think there’s the scent of easy money in the air.
I still think we’re in for a pullback and maybe it’s this week or the next, but it’s coming, because we have to reset some of these overbought conditions. It won’t be much though, I shouldn’t think, and I have three pullback plays just itching to be triggered on any moderate pullbacks.
The first is from the aforesaid metals group, and a past holding of mine. I held RTI International Metals, Inc. [[RTI]] back when it was around $11-$12. I believe I sold around $15, much to my chagrin:
Note that I don’t think this commodity leaper will pull back much. Perhaps to the top of the consolidation zone at $31 or so.
Next, two old friends. The first is one of my oldest and longest term holdings. I’ve said in the past that I think United Parcel Service, Inc. [[UPS]] leads the trannies, and so leads the market. Recently, that theory has held up. UPS is looking like it needs to form a pullback “handle” here, in order to consolidate and take off again. You can see my target:
You can see that even on the weekly, she looks rather overbought. A pullback to $62, at least, is in the cards on this one, I beleive.
Last I offer an old friend that was originally brought to us by our oldest of friends. I’ve owned some a while and not looked at it for some time. Well, it looks like [[ENTR]] is prepping for big things at last.
Viva la Cable Box Revolucion!
Be well, all, and keep an eye on [[UUP]] for further signs of a commodity revolution.
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UPDATE: This Rocks, and it will also educate your kids. What more can you ask for?
[youtube:http://www.youtube.com/watch?v=d0nERTFo-Sk&feature=fvw 450 300]_________
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Ha, I can top that! I spent the day near the Johnson Space Center, amd on the coast earning coin and soaking up the perfect day in Kemah, Texas.
Houston is perfect this time of year… but soon, it becomes a Swamp again.
My day was boring save for my conversation with the centamillionaire owner. What some people can do with their brains is just endlessly fascinating to me.
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Suprisingly the market isn’t overbought, just neutral. The daily gains while green almost everyday it seems, are actually too low to drive up the reading.
ENTR looks great
also TCK is BTFO and everyone’s friend CREE looks like it really wants to break 72. I’m thinking of getting in on some call spreads on CREE.
More good news for the Precious…. Jimmy Roger’s new hometown is a BUYER!
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Fucking ENTR.
Yea houston will get bad later, but its these weeks that we live for here. Mostly ita summer and only a day or two for winter, but when you get these days…Heaven!
GMCR, CMI… now ENTR… are you sensing a pattern here?
Did you really keep none of it?
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Men who can both be right and sit tight are uncommon
No one got broke taking profits.
And Jake, you are forgetting one thing about GMCR. when it was at 60, you were looking for 55 to get in and when it was in early 80s, you were looking for 69s to get in. You get the drift.
It’s also really tough to get rich selling out early all the time. That’s one of my bad habits I’ve since been working to remove.
The Fly made many brilliant picks but yanked himself out of the market far too early(due to fear of being caught in an extended version of the Feb downturn) and missed out huge. Stocks are great at telling you when to get out, there’s no reason to guess.
Always other fish in the sea, SG. Trick is, keeping them in the boat.
Still have CMI and ENTR, and the ones RC gave me as well (PCBC and RDN).
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Is fly going to clean the proverbial slate on his site? Will the site be the same, and I mean the usual witty comments? It would be a sad place without his commentary.
If the slate gets cleaned, it will be by the wrath of an angry Pelican, with a cane.
Fly’s hands are simon pure.
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Ha ha
He’s gunna start banning commentators … heard he was starting with the “R’s” first … I don’t have much time left.
Simon says…
Jake, are you giving up you site? I have not been reading anything new lately from you.
Developing…
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Let me know if you need an attorney to negotiate with Fly.
I suspect he is a soft touch.
Marshmellian.
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The eagle landed in west palm beach. Done.
RTI better than TIE. One of my long-term holdings.
It’s nightmare on Elm Street and guess who’s playin’ Freddy?
[ Hint: Start with J, ends with Gint. ]