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As I sit here inside my famous Maine homestead, on the end of a sea-bounded rocky egg surrounded by pines, raccoons, osprey, snowy egret, billions of tonnes of mesomorphic and granitic stone, and sluggish black mosquitoes as big as your head, know that I’m thinking of you all fondly.

Today I kayaked all the way out to a remote island in the middle of the bay with my two older sons and a cousin of theirs.  I was extremely proud to see them make it on what was a more arduous journey than we first conceived.  It sort of makes one feel all the tonnes and tonnes of extraneous food they are now consuming is going to some good use in the gradual addition of competent sinew and bone.  Be advised, however, the grocery bill on vacation, fueled by noshing and boozing adults and teenage boys exposed to the brisk northern air can look like the tally for a small air force base under battle ready conditions.

And that’s not even counting the “going out to dinner” tabs.   I think I am going to insist on summer jobs from here on out.

Don’t expect much from me this week, churlish churls.  I’ll  not be like the Monsieur le Fly, regaling you with tales of Amish cow-tipping and such.  No, you’ll be lucky to get the occasional report these next two weeks.  I don’t expect to be doing much in the market save banquing coyne (sic), as it seems the PM run is going to continue whether I’m in front of my screen or not.

I’ve given you several names over the last couple of weeks, and I think the small ones will provide much bang for the buck (AAU, BAA, CGR and BRD particularly).   There are a couple that I will be watching very closely, however, as their longer term chart patterns are appealing to me.  Let’s start with AUQ, which I haven’t spoken much about:

I think there will be some pullbacks in the weeks ahead and I think these are your best bets, long term, on some kind of a retrenchment.  AUQ has just had an awesome consolidation period.   So has has the crazy Japanese Man, Yamana (AUY), which may have the biggest saucer pattern of the PM Renaissance Era.  Tell me you don’t see something happening here?

 

And it’s not like AUY’s chart’s indications couldn’t be any clearer…  in fact, I think in the end, you will see AUY do what RGLD is doing right now as we speak.  Do you own the Grandmama of them all?   If not, it’s not for lack of my nagging….

Be well, and don’t let the big ass black mosquitoes bite.

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Have to Prepare the 5-year old…
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I’m apologizing in advance tonight because I am readying now for The Great Maine Vacance, and I haven’t the time to go into deep microanalysis of the political economy and the stock market tonight.

What’s more, I have no idea if our quaint little cottage will have internet or wi-fi coverage.  The only thing thus far confirmed present in the area are large mosquitoes, the occassional lost possum and women with hairy legs who would prefer you call them “Frank.”   (Not really, Maine’s not like Vermont… yet).

This could be my last missive for a while, so I will leave you with a doozy pick.   I expect the PM  pullback I’ve been talking about is here, and we’ll see some nice entry points in the next couple of days.  Just scroll back a couple of days and check the charts for a number of optimal entries which may have seemed unachievable this week, but which may approach your wheelhouse soon.

My doozy pick is NUGT, the Double Gold Miner ETF.   That’s right, if you feel you haven’t been getting enough “action” from jumping the Snake River Canyon with your Big Wheel,  then this is the play for you.   That’s right — extreme caution is warranted (like w. AGQ):

Thank you all, and I hope to speak to you again soon.

 

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[youtube:http://www.youtube.com/watch?v=2NJnL10vZ1Y 450 300]

I don’t usually get into these Ron Paul- Ben Bernank Shin Digs, But This One is Good
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Did you make money today?  Good. If you did not, I would be pressed to question your Adderol dosage, and perhaps add 100 cc’s — STET!

There’s more to be made, of course, despite our flirtation with oversold levels.   Who knows, this kabuki theater bullscheiss on the debt ceiling might cause a drop off in overall market liquidity in the coming days and we might even get a nice pullback.

More’s the better, I say.

Gold broke to new highs today and so did DGP, which I was hoping to catch at lower levels.   I still grabbed a dollop yesterday, as announced on The PPT, at $50.75. We’re busting out:

Worried about silver?  I was too.  Not so much anymore, however.   I admit, I was a chicken shit, and re-weighted some stuff from silver names to gold.  Not that that was a terrible play, but silver did shoot the moon today, giving me the Chiggers of Chagrin as a reward.  Awful “bitey” those chiggers.   For example, as I announced on The PPT today, I dumped a bunch of AGQ yesterday to put into DGP and other golds.   How do the stock gods reward me?  By humbling me with a $20 move on AGQ today (up some 11%+).   Oy, that smarts.

But, aside from SIL, the silver miner ETF which you should own to capture the field, I really like the look of CDE here.  Sure, it’s a dog, but it’s known for taking advantage of PM rallies.   In this case, I think it’s got yards to run on the weekly, and will not only catch its old highs, but surpass them soon:

Good luck to you my friends.   Try to ignore the politicians.  They cannot defeat price.

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Shockingly, the world did not end today (yesterday), which put a huge crimp on my “buy the dip” strategy on the global gold scale.  This was especially true for DGP, which I finally got tired of waiting for and glommed at the $50.75 mark, in “first position” size.

Even more shocking, it seems everyone and his brother decided to become PM bloggers overnight.  No matter, my bandwagon is large and full of goose down cushions.   But certain friends are going to have to become less “jumpy” in their inclinations to ride this next wave of the bull.  There’s lot’s of meat on this bone, and we are early still.  Hastiness will not do.

Take for example the “gift” I left at your doorstep the other day?  Remember AXU, and how I illustrated that it would pull back to the $7.70 marque, where it should then be SHOMPED with all due severity and muscle strain?   Well… let’s see what happened in the space of just three or so days:

Here me now and listen to me latah (sic):  AXU is going back to it’s all time highs, and MOOOOAH! How do I know this?  Because the relative strength of gold is across the board scary right now.  And the miners will generally fall into line with a rising gold price, and the miners are well undervalued in regard to a POG that is floating near all time highs as of today’s session.

Look at this $HUI  Goldbug Miner’s Index… better yet, look how MUCH room it has to make up for:

And guess what?  Baby $HUI is going to new all time highs as well!

And just so I can show you that I have some versatility in breaking away from all of these nascent gold bloggers, let me show you another stock I’ve been eyeing for quite some time now, and which I believe is set for a long term up move here.  Data Security anyone: VDSI?

I’ve liked this one a lot in the past (ea, and it looks like it’s ready to resume running here, real soon.   Best to you all.

 

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[youtube:http://www.youtube.com/watch?v=pyj2qL-bQ4E&feature=related 450 300]

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Amidst the rending of garments and donning of hair shirts, I stand back in the deepening silence and await perhaps the largest move in the gold market since the Recovery in March of 2009.

Yes, silver took a hit today, as is its wont in these fear markets, and I may well let some of my sold silver miner calls play out when I was thinking just last week of getting rid of the lot of them well prior to their expiration in August.   Now they may serve their original purpose as  a hedge, who knows?

I do know that gold, the physical metal, held up beautifully today, even in its current overbought condition.  This tells me that while Italian meat ball hurlers may be scaring people into the dollar,  that the ancient metal of Rome is also garnering its share of the fear premium.

No matter.  Whatever the reason, gold seems on a heady trip toward breaking news highs, and just as I rode AGQ deep into the $300’s  when that metal was moving like oil over an ice patch, so too do I now presume to ride the great beast DGP into glory.   Gird your loins and prepare yourself, my friends… the signs are well emblazoned on the snows that surround us:

Enjoy, enjoy.  And remember this: there is always a bull market somewhere, and nine times out of ten, you will find it on Jake’s blog.

Best to you, good penitents of Opus Dei.

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[youtube:http://www.youtube.com/watch?v=2WNrx2jq184&feature=related 450 300]

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Let’s face it, all the rocket ships I gave you over the last couple of days are now as egregiously overbought as Mrs. Fly’s Visa Card after a vacation in Paris.  I mean, that shit is panting.  It’s needs a new magnetic strip and make this next one indestructible titanium, please.

But enough japes about our wives spending habits.  What the hell is money good for anyway if you are not going to lay it out for your wife and children to dance through, mazurka-style?   And I’m here to talk about money and opportunity.

Those of you who were too timorous to take advantage of the earlier week’s outstanding pin action may be able to take a second spin at the wheel here in the very near future.  Almost everything is overbought on my RSI charts (as you will see) and even the $HUI is looking tired after some two weeks of glorious struggle with its support line.    You know about the Jacksonians — SLW, ANV, EXK, GDX, RGLD, etc., etc., and they should offer nice opportunities in the coming days as well.

But tonight’s study is going to be some noobs for the Noob community.  I have recently put some money into AXU (along w. le Monsieur), but I have not yet dabbled in AUQ or BRD.   I believe that may change in the next few days.   Here are my three charts, which detail my entry points. I begin with AXU:

And then AUQ:

And maybe my favorite of the three,  for the punning eventualities alone, “the BiRD” — BRD:

In the next week or so, I believe everyone will have heard, that the Bird is a word.

Best to you all.

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