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In more civilized days, I wouldn’t even have to make a pun title, but these are coarser times and someone might take the original cliche the wrong way, so I’ve made it a drug reference for the weak minded.
No matter, it’s a warning to those of you who would take tonight’s pre-market rebound as reason to snort piles of pink-flake coca products and go long every stock in the Tim Penny Stock Aisle.
My advice, take a more cautionary route and stick with the vehicles that will truly benefit from the near guaranteed inflation of the ECB, now all but certain with this latest package of six jugajillion new Eurotards for the shoring of Greece, Macedonia, Phillipi, the outer Crete Islands, and– as a bonus– Reno, Nevada.
Those vehicles be made of things that glitter and hold their value in a paper mache schit-storm. Just one I propose tonight is [[EXK]] , which I think is going to lift off again within a day or two. Note the bouncing at support:
Yes the stochs have not completely turned up yet, as they have w. Silver Wheaton Corp. (USA) [[SLW]] and [[CDE]] which are also eminently buyable, but I think EXK will be a late bloomer like it’s older compadres have been as well.
Another you should keep an eye on is $TRAN king, United Parcel Service, Inc. [[UPS]] . I think it may be a “first to recover” stock as well, along with the PM sector.
Be cautious tomorrow, and if you must buy, make it a tangible. One of my PM pics (Allied Nevada Gold Corp. [[ANV]] an Eldorado Gold Corporation (USA) [[EGO]] are easy) should be considered, but everything in moderation for now. Let’s see how this shakes out. Keep an eye on Titanium Metals Corporation [[TIE]] an it’s other heavy metal friends [[TC’]] and Teck Cominco Limited (USA) [[TCK]] for additional possible ads.
My best to you all.
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TIE and ANV have been so strong here
Jake – what is your “black gold” thesis? Do you think oil/energy names have merit here? Thx bud.
Earl will do well, if only as an inflation hedge, but I like PM’s better for the economic problems ahead.
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That charts a beauty, nice find
Wait for break of 3.85 on EXK, i like it too though. Bought it last week at 3.63 but questioned myself during volatile moments and got shaken out. Lesson being only buy ON support or ON breakout if you are impatient like me
Yes, we don’t do much of the daytrade thing around here. All of these are long term holds until further notice.
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Just picked up a satchel of EXK @ $3.72
Kiss of death.
Does your mother know of your fondness for one J. Garcia?
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She does, but for a while she thought the Grateful Dead was heavy metal because of the name and the skeletons/skull pics.
another haversack of EXK @ $3.60.
all day, son.
I may join you at those prices…. even though we’ve got 24k already.
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EXK Earnings. http://finance.yahoo.com/news/Endeavour-Silver-Reports-iw-2927039816.html?x=0&.v=1
Nice ride, Marine.
Are we related, by chance?
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See them everyday at the job. Work at Bell Helicopter Textron. Wish I had served but that was my dad’s priviledge. He was the Marine in the family. Really enjoy your work here. Longtime lurker.
Thanks.
I’ve relations who flew for the Marines, but no Ospreys (as far as I know, at least).
Are all the bugs out at last?
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Being in Quality Control, I think the majority of the issues are solved. True tests are happening now out in the field. Having flown in Iraq and now in Afghanistan, these are some of the worst conditions the ship will see. Sand is always hell on rotor-craft, but this one has rotor wash and engine wash happening at the same time. All in all holding up pretty well.
Good news… I’m glad they held onto the product.
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Jake, What do you think would be a good buy point on EXK 3.50 -3.60?
Yes, as close to that line as possible w/out going under.
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Thanks, I’m waiting to lighten up on some err, um, hedges before adding.
Those things were flying low over Boston this past weekend. (some military excercise going on). Pretty damn cool up close.
meant this as a reply to the Osprey pic
might have been a “just in case” had the yankees swept and the natives rioted.
Nah …. too early. Bruins and Celts are the main courses right now …..
If you said to protect the referees if the C’s lost, then I’d agree.
SWC is another mining trade you may like into this downturn… CDE over 18 is money 😉
Love your stuff my man, haven’t seen you on Twitter recently… Trying to stay away from, say, Apes??
Nah, just busy as hell. Have to sacrifice some things…
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see above
Jake,
Do you know somewhere that tracks the amount of forward selling miners do?
I stay away from hedged miners.
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Not looking for hedged miners.
Murrin said when gold miners abandon forward selling it’s a strong positive for bullion.
Just looking to check that out.
The most regular hedgers (that’s forward selling, son) have abandoned the practice some time ago now. ABX was a big forward seller… I don’t think so anymore.
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