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I had a reader inquire on the last posting about the state of some of my favoured (sic) silver-golden children. I speak particularly of [[SLW]] and [[IAG]], of whose Canadian charts, he was somewhat ill-taken. Point of fact, I think he was experiencing some painful reverse peristalsis, to cadge a term.
He mentioned also [[AUY]] but while I’ve spoken of them before as a decent buy and hold, they fall into my “aquiror” basket rather than potential “acquiree,” one and therefore I find them less appetizing.
But still nutritious with regard to a balanced portfolio of course!
Back to [[SLW]] which you all know holds a favoured place in my heart, much like one of my children, save not breathing or in need of sustencance, and quite weighty for it’s size and youth. Whenever I need some perpsective on these names (or any names, s’truth) I repair to the weekly charts for a more holistic gander. In this regard, SLW shows us a pattern in good standing:
As you will note, we are consilidating after breaking to multi-year and yes, “all time” highs. If anything, we’re forming a bit of a handle whilst using the 13-week EMA as support. Not exactly cause for alarm given the 13-week’s reliability over the last 15 months or so.
Next let’s look at the weekly for the Gold Man Sacks, otherwise known as [[IAG]]:
IAG may need some time before it breaks back above that $20 mark that defined its recent high back in November of ’09, but this consolidation pattern is by no means a sickly one. The 13-wk EMA serves as the stalwart in this case as well, and should be watched as IAG grinds higher.
[[AUY]] is the least pretty, and frankly, its last quarterly earnings report denote some work that needs to be done before it can recapture it’s place of “honour.” Note the Limbo in which it currently finds itself:While I believe this is a decent “buy and hold,” I think AUY likely has at least a quarter or two more to go before it can attempt to break to new highs. It, too, should hold abover the 13 week EMA, but in this case, the real test will be a break of $13.
Good luck and do not fear, as I believe the dollar will be our friend going forward, in ascendency or demise.
Best to you all.
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- One last thing:
Happy Memorial Day to all, and especially to our veterans here and departed, without whom we would never have the pleasure of these inter-tube conversations. Thank you for your sacrifice.
And a special treat — the inimitable Renaissance Man and combat veteran Mark Helprin has a special Memorial Day essay that is “must” reading for all sensible citizens of this great land.
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Thanks.
Thanks Jake. Hope you had a nice Memorial Day weekend.
I did, thank you.
Looks like we’ll downswoosh here this morning. Let’s seebid it lasts.
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Damn Crackberry buttons… “see if it lasts.”
Looks like the historically downward sentiment did pre-view a bounce.
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Well, my gold is up today, so I’m good. 🙂
That kinda looks like the unknown comic on drugs.
Jake,
Do you have target buy points for these?
I am already invested in all three, but if you want a safe buy point, you can wait for a breakout above those three top lines.
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Thanks Jake,
That’s what I thought you were saying…just making sure.
I finally have a broker now instead of the old mutual funds so now I can trade real stocks. Can’t wait,but don’t want to get my timing off.
Is it ok if I’m not bearish and treat this pullback as a buying op and keep my buys from Friday’s dip?
Still haven’t sold any IAG or CDE btw
I know it’s not exactly cool to be long here
I am rebellious like you.
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The V.King sold all of his GNA….please look back to my Jan post to see my BUY thank you………
75K profits…free tee-shirts for all Gints readers
Nicely done. Was the birthday celebrated in two-bicep style?
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V.Queen let me sleep late…which was in order since I polished off 2 bottles of Burgundy and started on some nice Pinot the night before…Big BBQ….more booze and enjoyed the kids….perfect V.Day!
Charcoal, regular gas or infrared?
LOL
No I just use regular gas….infrared…C’mon man I’m not superman…lol…although I do use my freeze breath to chill the brews….
V.King 365 days 375 press 380 degrees of coolness
I’ll overlook the pinot selection on grounds that you’d downed two bottles of burgundy and were likley non compis mentis.
We had some of this Amarone the other night. Sublime.
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Apologies to everyone, but I’ve temporarily lost the ability to post new material.
Developing….
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