[youtube:http://www.youtube.com/watch?v=W773ZPJhcVw&feature=related 450 300]

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Flying around the Central Mitten today via large American Sedan, one cannot help but be astounded by the plethora of funnel clouds in so many seemingly peaceful rural burgs these days.  If Mother Nature cannot leave lie a town known for 361 days of Christmas (despite its Mary Shelley-esque name) and not one but two Wiener Schnitzel Emporiums, then I just don’t know what the world is coming to.  I tell you, if this road trip gets any more adventuresome, it may take me four days to hitch hike from Saginaw all the way home.

Things were no less tornadic in the precious metal miners markets today, with that rally off support finally coming through for us:

Even more mucho blasto than Baby $HUI, however, were my faithful Jacksonians, with SLW, EXK, ANV, PAAS, SSRI, EGO and even TCK up anywhere from 5% to 9% today.

And not to be overly boastful, but I thought it quite shiny that my final call of yesterday’s post — that laggard AG would catch up to it’s brethren in rapid fashion — came through like a dolorous Dakota Fanning in a crying scene, to the tune of almost 11% in cash gains.  Note the chart, and the accompanying caveat:

Note well my easily excitable Adderall dependents — one strong day does not a rally make.  As you can see above, many many of our Jacksonians are banging their heads on 20 and 50-day EMA’s.   I would not be surprised at all, therefore, to see a pullback from these levels, and perhaps one all the way back to the 500 level on the Baby $HUI.

Most likely we’ll see the most trouble at the old breakout line on the $HUI — at $519 give or take a smidge.   Be aware of your levels and do not get caught flat-footed.   In the meantime, silver still looks like the recovery drug, although traditionally hot money gold plays like ANV (up 8.83% today) are coming in close behind.

Be safe out there, and keep your helmets on.

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Nothing much moved today on the PM side as the market collectively held it’s breath waiting for The Bernank’s do-nothing address. That speech, in turn, resulted in a massive shrug of the shoulders after market close today.

There’s some chop back and forth and further attempts upon my person in the form of certain “Chicken-playing” PM stocks (ahem, AAU and EXK, damn you!). These stocks attempt to force me off the road by driving straight at me at 110 mph, whilst drunk on Old Crowe whiskey.

I will not be moved by such crude tactics, and I continue to beleive there will be a bounce in the metal sectors collectively. Action in the minor metals like palladium and platinum are betraying this new direction, and even copper is showing stubborn signs of staying about $4.00.

In the meantime, dollar strength is seemingly being abetted by a weak Ozzie Dollah and Canuckistanian Looney. That too simply cannot be the basis for a dollar rip, so sorry. Not for the long term at least.

So just check yesterday’s chart for tomorrow’s action, as nothing looks very different. On another note, you may want to inspect the FAS-mobile tomorrow as well, as it looks like banks may be ready to roll once again.

Best to you all.
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[youtube:http://www.youtube.com/watch?v=9ouKJgoaTCY 450 300] The Latest From Australia
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Do not miss even one second of it, mothaflickas.

I’ve sold off a little more silver and a tiny bit of gold today. Mostly in my disappointments… like AAU. No, don’t worry, I still have a tonne, even as my gut tells me that it’s time to pack my bags for the summer and move down the road to a small shack from which I can barter conch meat, small beer and crab legs for shiny bits of tinsel I’ve stolen from the gulls.

That’s right, I’ve become an itinerant beach comber and summer lacrosse Dad, rather than a procurer of fine equities for you and yours. Oh, I’ll come up with a couple of dolorous pronouncements here and there, for sure. If I can get this thing to post without ghosts.

This week I will be accumulating cash. That’s what my gut is telling me to do, although gosh knows, betting against my gut has won me much lucre in the past as well. I just don’t like this dollar action, however. I was hoping for a downswoop and all I’m getting is a sag, and gold seems to be becoming sympathetic.

I don’t like that. Not one bit. So for now I’m going to give some up to the stop sign sun, and await better squid-shark oceans.

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It’s Options Expiration Friday, and there’s all kinds of odd schtuff going on.   Interestingly, I marked up the dollar chart last night, and again could only get the title to “save” to the site.  I don’t know if this is a time of day issue connected to WordPress, or if it’s something going on with my home laptop (which is fine in all other respects), but it’s beginning to wear on me bones.

That said,that glitch allowed me to get some 20/20 hindsite on my review of last night, and that may be helpful to us all.  Note how I was looking for further dollar destruction, at least to the 20-day EMA yesterday evening:

Well, what really happened, then?  Instead of breaking down to the 20-day, the dollar soared (relatively, of course), starting at about 4:30 am (EDT) this morning,  from a break-down below $75.00 all the way to $75.76 at approximately 10:45 am, before burning out like an dynamite-filled white Bronco headed to the sun and dumping 25 basis points in about an hour. 

Was that all for the dollar today?  I’m going to go out on a limb and say yes, and attribute this morning’s chicanery to folks interesting in goosing certain options positions. 

 I say that because the price of gold ($GOLD) made a curiously similar — but opposite! — dump and go at the exact same time that the dollar did.   It dropped over $18 dollars starting at 4:30 this morning as well, from $1504/0z to $1486/oz, just as the dollar made it’s mystery march, only to viciously bounce back over $29 to $1515/oz in little more than an hour and half… 

We currently stand at a nickel over $1513/0z as the dollar tries to work back over $75.50, but my “tell” that the ruse if over lies over in my pile of Jacksonian miner stocks, which continue to strengthen and all show “highs of the day” as of this typing. 

Let’s see if my little prediction above doesn’t come true after all, despite early morning chicanery on the the part of Les Grand Shacqueurs du Monde.

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Meanwhile, if you want something more exotic than PM’s, I think you may have an opportunity in the Rare Earth Metals today, and particularly in one of my faves, QSURF:

I think this morning’s brief sell-off, which stayed above the 20-day EMA, may offer some entry opportunity for the less risk averse among you.   Best to all.

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Here I am off on a pleasant fishing trip, and some of you are already gnawing your neighbors’ fingers to the third knuckle in white-eyed panic.

Please, sirrah, leave aside your neighbor’s foreleg and listen here.  Have a shrimp cocktail.  Read a pleasant romance novel.  Present your spouse or beloved with a surrepetitous boss upon the lips and pronounce yourself arduous.   But for pity’s sake, let’s not loose our bowels here over a nasty couple of days draw down.

Noted, this speech is not for ye varicose vets who have been with me since we began back in May of ’09.   Most of you wise folke have stacked piles of coin in your garage and pantry to the point of bringing alarm to your neighbors.   Such would be true had you been moderately disciplined, and kept your core close whilst raising cash at opportune times when the rivers were high and the bloodlust roiling.

For those of you new to the scene (and it appears there are new folke popping up all the time on my site), I implore you to take care here.  Do not self immolate.  I would rather you slice, stack and eat 17 bologna sandwiches while you wait for this pullback (one in a long line now) to quiet rather than seeing you sell in a convulsive panic.

In the meantime, my own patience grows thin, and I was even audacious enough to begin adding to my AGQ horde again today.   What of it?  It was only some 20% of my peak shares and it was at $261.80 a share — a good $120.00 off the recent highs!   Might I get some more even lower tomorrow?  I sure hope so.  

I’d better be nimble though, as this thing has come so very far, so very fast.  Remember my silver commodity chart from last night?  Where I’d hoped for a tag of the 50-day EMA?  What haste we’ve made toward that goal just today:

What’s more this fast tracking has given silver’s double ETF — AGQ — a premature visit to the 50-day EMA already.  As a result, I’m not sure AGQ has much left to give here:

Will we hammer that 50-day one more time tomorrow?  Odds on, I’d say it’s likely.  But then again, I was never quick, so I’m just going to take this slowly, and with aplomb.

I also bought back some more EXK today, at $9.89.  I’m back to a 75% position in that stock from my core of 50%.  You see how this works?  It’s a little sloppy, a little messy, but in the end, it makes for great gains.   I also grabbed more AG today, at my early price of $18.01 (again, on a GTC order in place for two weeks now) and later a little more below that in the upper $17’s.  I’m near to a full position in that stock a well, but have one more “lunker bait” order in there in the lower $16’s.  

One gold stock I love, despite it’s recent oxygen robbing action, is ANV.   I’ll let you guess where my orders lie for this one, tomorrow:

Cast your nets upon the waters, friends.   Captain Bernanke has promised many fish, via multiple dynamite stick detonation.  Sure it’s not fair, but should we turn up our noses at free cod?

All the best.

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Brad McLeod, Former Navy SEAL

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If you plan to ride a massive bull, you’d better make sure you’ve got your callous-horned hands fastened tight to the cinch-rope my friend or you are going to get “bucked” like the most worthless of chickens.

Buck-buck-BUCK!

And let’s face it, it’s still all about the buck, and the relative elasticity of it’s deceased kitty carcass as it bangs off sub-$73 levels for a brief fight with gravity, guts askew and a-twirl.  

But despite what I’ve been telling you about silver’s nosebleed status, you still take to sack-cloth and ashes, warning that finally, the Apocalypse is upon us at last, in full penitential glory.  But please, put the cat-0-nine tails away for a second and take a look at where silver really is this evening:

How long do you think that dead cat buck is going to bounce and our silver salient going to fall?  Maybe til next week or so?  Okay then, so let’s make a compact.   This week, we’ll talk about Derby and Oaks horses, because I’ve done almost zero homework on that subject (I’ve been busy), and we’ll just forget about “the life” for a while here, capiche?

Presumably, you have some dry powder ready, as you’ve been “taking some off” the last couple of weeks or so.   Allright then, let’s just wait til we see that RSI lever get to oversold (should be any day now), and then hope to the Jenny Craig Goddess of Skinny Lattes that we get to that 50-day line up there, where we can back up the truck once again.

In the meantime, put some low ball bids in, just for kicks.   Scatter them about.  Today, two of my low (and lower) balls in one stock (EXK)  were picked up in the course of a few scant minutes.   Same went for a low bid on SLW.    Tomorrow, I hope to garner some AGat egregiously low prices, and I may yet throw a “stabber’s bid” at old AGQ back at the sub-$300 level.

You just never know what you might end up with there, Forrest.

God bless, and relax.

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