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The gold and silver and even platinum plays have been taking off with very strong relative strength these past weeks, even in the teeth of the Goldman Doom on Friday. Now that it looks like Greece is going to get bailed out to the tune of $150 bn drachmas, or cowchips, or whatever they’re using for currency in Europe these days, I would bet dollars to doughnuts we’ll have a sell the news dollar reversal here soon, which will mean even more money flowing into the precious metal bull in the short term.
But we’ll save that for another day… you’ve plenty of names to consider from last week, and we’ve got other hard asset plays to speak of… particularly those in the Corn Belt, or who create notches therein…
Specifically I’m speaking about our old friend Mr. Anderson: The Andersons, Inc. [[ANDE]] , who has skyrocketed recently to new 52 week highs, only to be brought back down to the top of the breakout area on Friday:
You can see there are three bars of support in the above chart, one of which we rest on as of Friday’s close. I feel more comfortable with a pullback to the next (middle) level at $35, and that’s where I’ll be adding to this Jacksonian beauty.
I think we should be keeping our eye on the other ags as well, and while I’m not going to post the ugly chart of Monsanto Company [[MON]] I will tell you that I added another 1k shares to my already large horde at $63-ish on Friday. As I’ve mentioned before… like Royal Gold, Inc. [[RGLD]] , Monsanto is a “set it and forget it” type of long term hold, and if I can find it in the low 60’s like this, I’m going to be a buyers for sure.
In other news, I did attend the somewhat rainy Derby (but was under cover, thank the horsey gods) and had a much better day than the Oaks, nailing an exacta box bet on the Derby itself, and coming away with quite a bit of cash, considering how pikerish my bets remain. Derby is defiinitely something you’ll want to consider if you are a “bucket list” kind of guy/gal. For what it’s worth, I’ve never NOT had a great time, no matter the weather.
My very best to you all.
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Not so sure. Everyone is doing the Hugh Hendry these days.
It is a short-lived fad.
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like the running man or the twist?
Eggsactly, although I was thinking “the Watusi.”
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JOE is tanking on the possibility of spilt milk soiling their shore front developments … a buying opportunity if it is contained or barred from reaching the Florida coast.
Looks oversold already. I like the 50 day at 32.60.
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I got $32.35 but close enough ….
congrats on the derby!
Oz 40% mining tax benefits Brazil & Canada …
What does this mean?
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you saw the news on mining stock profit tax out of Oz didn’t you?
If the gov is gunna usurp shareholder profits, shareholders would be better off with their Canadian and Brazilian counterparts, no?
http://www.financialpost.com/news-sectors/mining/story.html?id=2981457
Yes, I did see that, though after I’d read your post, which is why I was non-comprende.
I can’t believe Australia could be so stupid. Wait til I give Ozzie Joe an earful about this.
I wouldn’t trust Brazil not to put some stupid tax on their stuff either, though. They are as left as Obama.
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Both of my jobs doing well, particularly my job at the oil field equipment company i am not happily working at, we are in full blown mode right now. Getting out the orders as fast as we can-go oil!
Did i say not happily working at??? Man i hate the auto corrections this phone goes through. I am happy at that company.
Watched the movie “Food Inc” this weekend. Have you seen it? The last 30 minutes are dedicated to MON………John Grisham couldn’t have created a corporation as evil as they make MON out to be. The treatment was so bad, that MON actually has a retort on their website.
#6 – I’m surprised that a Whole Foods loving, bleeding heart like yourself could be a shareholder….sellout.
The funny thing is, instead of feeling bad for the farmers who were getting crushed by MON, all I could think was that this was the best advertisement I had ever seen for owning a stock.
Who loves Whole Foods?? Sure it’s better than D’agastino’s but who isn’t. I think you have me confused with the German and the Maine-ites.
True story – I don’t go to the food store. I live in NYC. I eat out.
(Or if I’m lucky, the cali-girl brings home food from culinary school.)
So… you are a guinea pig, then?
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gratefully so.
Glad to hear the Derby went well. Here’s to the dollar falling and destroying all the bears.
Jake, I added a touch of TCK this morning, but am wondering what your thoughts are on this one. Are you averaging down on it the way you’re averaging down on MON?
Thanks:)
Re– TCK — it’ll take quite a bit more elevator south action for me to be averaging down on that one, as I started buying in the lower teens, but I may grab some on a bounce to the 200 day, if it gets there.
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Thinking on TC?
Very oversold right here… strong support from the largest price volume bar in the high 11’s (11.80-.90 or so).
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Good …. I took it just above $12
Yikes! Who gottem some VECO last week?
And CREE?
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Sorry, I got too much exposure to the sector already ….
If you don’t have exposure to the leaders, you are ill-exposed.
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Hey Jake, do you think we’ll get a pullback in the POS? I’m debating jumping in and buying more, but I figure this area is your expertise so if you think we’ll be getting any good entry points, then I might be patient and wait.
Yes, there’s almost always a pullback, so I would play the odds, as we are overstretched a bit here.
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