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As beautiful as silver and gold are, you cannot eat them. No, not even the Wonka Bar wrappers or the Hershey’s Kiss coverings you’ve meticulously assembled into a quilt for the spare bedroom.
No, since they are only useful as “stand-in” for a much poorer form of currency, one can only use silver and gold as placeholders for the more awful green stuff that we can then exchange for our MACDonalds (sic) greasy burgers and large fries.
In other words, sometimes you have to sell– even the good stuff. So why not, then, cash a little in when things are getting a bit overstretched? Especially in the instance of a number of our small silver miners. EXK is one of my favorites, for instance, but even I can’t turn a blind eye to the recent break out of the triangle and (as I’d predicted) parabolic advance immediately thereafter. Now may be the time to scoop a bit of cream off the top… just to make sure you have pizza money:
I think we blast through $12.00 tomorrow, and I do believe I will take off one sixth of my position when that happens, ensuring myself beer money for the weekend.
I also think AGQ and some of the other miners are in similar rarified air. I may shave some off of those as well.
If I have some money left after many a frosty bottle downed, I may even grab some more of IAG, as I believe it’s months long “saucer” consolidation is at an end and it will soon be headed to $30, and more:
Note the above is a weekly chart, and that’s a long time coming chart if I’ve ever seen one. I also see similar breakout potential in both EGO and NGD, the former being more immediate than the latter.
I will try to post some more chart looks tomorrow. There’s a lot to be excited about. Play safe.
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been standing by for your update- thanks as always for somehow doing this blog with all you have going
Thanks… silver is half a penny from $40 an ounce as I type this.
Who’d a thunk it?
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Great photo! I ordered a 6 pound hamburger once and thought it was hilariously big (it was). That thing in your photo must have close to 40 pounds of meat in it.
usually indicators don’t work when a stock has broken out
you know thhhhhaaaaaaaaaaaaaaaaaat
PS: Lindsay, cute puppy. sdfjsdfsdklhsdf *i died*
are you as cute or ?
I assume you are talking about EXK? This is a personal “Jake Indicator” born of a colloid of experience and instinct.
The number may not be $12… we could be quite a bit over that by today’s high… but I still say take some off here.
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Took a toid off at $12.50 but perhaps i should’ve waited til $13?
Pretty awesome sir, and I’m thankful to be along… kick-ass Jake.
Jake, thoughts on the 75 USD mark/resistance?
We should get at least a hop there, but I’m really looking at the lower 70’s for the end of this current bull wave (not for good, but for a bit).
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exk 15 bro wwwaaaahhh wwwwaaaahhh wa,goldfinger
Oh, it will go much higher than that.
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Have a good Cement Friday
I remember you pounding the table on $SLW @ $4
Thanks very much for the update CH.
Greetz.
I guess this means the AusUsd pair is likely to still going north for bit.
Hmmf.
S
Trimming FCX, EXK, AG and PAAS. Will look to re-enter when things are (hopefully) a little less frothy.
Given my Lenten repentance and renewed spiritual vigor, I must acknowledge that God himself has given you a gift. Truly inspiring. Thanks for all you do to edumacate the masses.
LOL. Get thee behind me, Shatan!
😉
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JG –
Check out XG too, if you haven’t noticed it in your account recently. It’s that little spinoff of XRA a while back. Been a nice little surprise.
Thanks Jake! Everything is going according to plan.
However, I’m a little surprised that SLW hasn’t broken out more. What cheu say?
Hey Jake:
Been holding MON for a while. It’s been beaten up over the last month or so. Any thoughts?
Long term its a hold but I have sold calls against it.
http://www.youtube.com/watch?v=oMlqn_Hjyi8
JG – Plan on peeling off the SLW calls anytime soon? My jun 40’s are at 8.30 from 4.05!!!
And would you mind looking at GDX/GDXJ charts?
Thanks!
Yeah, I sold about 70% on Thursday and Friday.
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Does AG go into a long, boring consolidation now, Dr. Goldfinger? Time to hop on to a fresher breakout?
Thanks for all your help, Sir.
Jake is Dr. Goldfinger
I would certainly take some off the table right now. Like EXK, however, AG will continue to be a good ‘un.
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Will do. Thanks, Dr. Goldfinger.
Long and strong spm.to, as a silver play done very well.
Thoughts from any one with more experience on it?
great Dan Norcini interview (starts 7:15)
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/4/9_KWN_Weekly_Metals_Wrap.htm
Jake,
any thoughts you have on best takeover candidates would be appreciated.
Hey, what happened to all the talk of your last post.
Thanks to Jake & Fly for the picks. Fly’s blessing of EXK gave me the confidence to pile on to that.
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