Wednesday, August 31, 2016
Joined Apr 19, 2009
721 Blog Posts

It’s a P.M. Dawn

[youtube:http://www.youtube.com/watch?v=-dzpTFQR0Tg&feature=related 450 300]

Whatever happened to gay rap anyway?

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Today was kind of interesting, no? False alarm breakouts all over, and almost none of them held…

Save for the PM miners of course. Sort of like a… a… PM Dawn, no? I took my cue off the Baby $HUI earlier today, as it had gracefully touched the bottom of it’s trading channel and then sprung up like a coked out stallion loose in the mare barn.  True, it sold off some at the end of the day after that initial hop up.. but I still like the pin action.  Note:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Despite the long wick in that last candle, I like how there’s still lots of room to run on the RSI and the other stochs.   This puts me in the mind that we are seeing a genuine handle breakout here.   On this action, I doubled up on my XRA and BAA positions, as noted in The PPT today, right before lunch.  I also added to EXK, AG, GDXJ and SIL.   I even bought some more RGLD, just to add to that pile.

Some other nice movers today that I own, but did not add too (much to my chagrin) included AXU, ANV, AUQ, AUY,GSS, NUGT, IAG, NXG, etc.  Keep an eye on these for further developments tomorrow.

As I type, the dollar is below $77, Gold is well over $1,810 and silver is over $40, indicating the $HUI is steering us in the right direction.   Enjoy tomorrow, as I will be “road-bound” again, and checking in from remote airport locations & scruffy hotel bar rooms.

My best to you all.

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14 comments

  1. Clamalicious

    Thanks Jake for the update. Very helpful.

  2. Jakegint

    Thanks. Just remember, if we fall out of that channel, its time to reassess.

    ___

  3. Treepart

    I have a pile of KBX, a little POS miner that jumped yesterday. Cheap thrills for under $2. Been loading up on miners for 6 months now.

  4. Bubbles

    Thanks CH. Your always right on key.

  5. Treepart

    Not for nothing but an article was posted today about KBX setting itself up to be bought. They have good properties but no mining operations. Always thought this would be the route they take. Find the ore, sell to an established concern.

  6. duck

    Kicking myself for not adding to SKF yesterday. Does anyone have an opinion on FNV? My untrained eye liked the diversity of streams from larger more established companies (Newmont, Barrick, etc) as well as some more speculative. Market cap is > RGLD.

  7. Cheesefries

    Spot on

  8. Hawaiifive0

    The baby $HUI stinks!