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Action was in the A’s today, as in Ass-kicking Agriculturals and AG and AU stocks. If you were playing close attention to my Prometheus Unbound post of last Wednesday, you are a happy dog tonight. Mentioned almost at the very bottom of that post is AAU, which I noted looked coiled for a takeoff. That prophesy was fulfilled today…
Note the blast off at the concentration of both the 20- and 50-day EMA’s? Now look at the last time those two lines came together to form a launch platform, back in August. Auspicious, no? But the best is yet to come, and I think it’s soon, as the weekly reveals:
Note that AAU has a bit of work to do to break final resistance. We may not make it there on this first run, so you flibberty gibbet traders may want to take that first line as an exit point if you feel we’re not breaking through. There could be a bit of consolidation at the $5 mark as there is with many of these precious metal miners. I’ll probably use that moment to accumulate.
Does that strategy sound familiar? It should, as it’s exactly the one I employed in tearing off great hanks of EXK for my later consumption and nourishment. These smaller miners tend to follow a similar pattern of skepticism and volatility, until they break through that infamous $5 barrier for good, and are then considered “mature” enough for institutional play. I think AAU is very close to that status. Pay it heed.
I’ve one last “A” stock to leave you with tonight, and no, it’s not AGQ, or even AG, AEM or AU though those stocks are certainly weurthy (and should be considered with this reading). No, tonight’s last plug is The Forgotten Jacksonian, humble Mr. Anderson — ANDE– which has calmly and quietly broken out to all time highs and the coveted “free air” of newly traversed ground. I like it on a retrace of this weekly breakout, and soon:
I will be around only sporadically tomorrow as I must attend to some heart rending family business. My best to you all in these fecund and opportune times.
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Very good Jake. That’s just what I was trying to figure out. Now what about EXK? I’m half in right now, when do I add the other half?
Sorry about the family stuff. I’ve had a lot of that stuff in my life and it’s always very sad.
Yeah, well this one really blows chunks.
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Jake, I’m very sorry to hear about this family matter and very appreciative of the fact that you’re posting under such difficult circumstances. Sending a prayer and some warm thoughts to you and yours.
as Ms. Susie said so well, thoughts and prayers with you sir.
Terribly sorry to hear about this, Jake. Best to you and your family.
I’m with susie–posting under duress is no easy task, especially when dealing with a family loss. You’re a better man than I…
AAU, btw, was brilliant. Awesome pick. Wish I’d doubled up…
Hi Jake,
SLW : You think SLW is a long term play? Do you have some sort of opinion on the price target on this?
Super*
It is long term. My price target is just shy of infinity. Eventually.
I need to get me a sweet, free-flowing wig for the next investors conference I go to. Probably with either a gold/silver suit, or take Fly’s suggestion of white with blue pinstripe.
http://common.csnstores.com/common/products/ADV/ADV1099_l.jpg
Yeah. That and long free hair should increase my fun.
Cant go wrong with a good wig. The ladies, though they doth protest, love a man in a wig. It makes them Purrrrrrr!
SLW is my #1 holding and my favorite long term pick.
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http://www.youtube.com/watch?v=EMwmsI5plvw
Jake,
Sorry to read that you have family situation.
All the best,
Mike
Thanks everybody. Will be checking in on Bberry, etc.
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Thx for all you do here Jake, my prayers w/you. Be well.
Sorry to hear of the family issues, Jake. Take care of the family.
Thanks all, I am in the 495 circle of the Bahstan metro tonight, and with my whole family. I am close enough to give that commie bastid who used to annoy me so, a thorough de-suiting.
But I will not, as I am humbled by the concentrated grief here. It is like an implacable wall. No one, no one should ever have to struggle with the death of one so young. I am hoping God has plans for these two stalwarts. I, a coward, do not know how they remain standing. I am quite sure I could not.
One thing to remember, you who are thinking about “should I go to that wedding?” — family prevails above all. Without that surcease, we are nothing.
God bless you all.
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Use to have a condo off the Pike near the Worcester/Millbury exit many moons ago … if you are traveling south on 495 to the Milford/Franklin area you are in my old stomping ground before my move to the Cape … best to you and your family.
All the best Jake. You are in my old stomping grounds as well. Framingham/Ashland is where I was a few decades back.
Jake, sounds like you are in my current grounds of stomp, as I represent the fine town of Medway. Best to you, sorry to hear of your loss.
Wow, I use to live on the Medway/Franklin line off Pond Street …. small world
Jake, sounds like you are in my current grounds of stomp, as I represent the fine town of Medway. Best to you, sorry to hear of your loss.