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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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Two things of interest this Sunday evening, if you want to stay off the political stuff, that is…

One, our favorite silver stocks have lots of room to run here, and if you’ve missed the boat previously, or disembarked prematurely, there should be plenty of gangplank for you to re-join the pirate party going forward.

EXK is one of my favorites, since I started talking about it back in the $3 range.   It’s amazing how it was nearly given up for dead recently in the big Silver Reversal of 2011, and yet, if you look at it on the weekly, it’s not really had such a drastic downturn after all.   In fact, some historians might call this “a healthy pullback.” Check out this weekly chart if you don’t believe me:

I have another Jacksonian I was watchingbubble up last week, and one I’ve told you to own for the long term, as in “passed down to the grandkids.”  And no, I don’t mean RGLD this time, although you should hold onto that one too.

No this one is the most hated of the hippies who have decided they are going to keep organic (that means fertilizing with cow dung and pushing a plow behind a team of oxen) as their “gold standard,” the poverty stricken populace be damned.   Let them eat heirloom tomatoes, I guess?   In any case, there’s a company that’s looking to feed the world through more robust and pest resistant crop yields, and it just happens to have enough IP in it’s coffers to pull that high bar achievement off.

The company is Monsanto  (MON), and it’s looking like it wants to breach some serious resistance here  on the long term weekly.  There is no resistance more powerful — or support more strong — than at the 61.8% long term Fibonacci line.  This is a significant line for those looking to go long AND short this stock this week:

As ag stocks seem to be taking off, you want to keep an eye on this one, especially if it manages to break that fib barrier this week.  My best to you all, even the hippies.

 

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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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First, let me tell you that I am a happy and contented boy this evening. You know this PM game.  Heck, even Le Fly asks me at times how I deal with the convulsions of this lightly traded, lightly regarded sector.  Sometimes it’s not very easy, as you all know.

But the irony remains.   Despite the tremendous, gut-wrenching, teeth swallowing, soul-crushing volatility of this sector, it’s the only one to be in a bull phase over the last ten years.   True, we got a serious “blip” when the whole market folded in late 2008, but that was truly a liquidity-driven event,  separate from the fundamentals of the space.  What’s more, that down-draft was the trading opportunity of a lifetime.  I still own a good portion of the SLW I picked up under $3.00, and that was just one of the gems I found abandoned on the ground in January-February 2009.  You know the story of the Jacksonians from May of that year, when I first started blogging.   Those positions are up hundreds of percent, and I had bought them months before.

Enough idle boasting about the past.   We’re talking about good feelings today, but we’ve endured scars together too.   We’ve undergone a dreadful PM pullback, one that cost me over 15% of my portfolio value, even with cash-outs.  But I’ve been waiting, very patiently, because I had no doubt this bull was not over by any means.  And today I think we can say that at least in the near term, “the coast is clear” for further miner purchasing.   And I plan to make up for lost time as well.

First, let’s see the good news on our friend Baby $HUI:

Given that many of my “in-house” miners– Jacksonians and high flyers like EXK and AG have rocketed up on an RSI basis in the past few days, I think it may not be the best time to buy tomorrow.  This is true as well of my PM Stock of the Decade— XG,  or Extorre Gold Mines. which was spun off from parent company Exeter Resources (XRA)  at the barely substantial price of $2. Yes, $2, back in late March of 2010.   Look at this beautiful company today, a scant 16 months later…

Look at the charts of the strongest Jacksonians and you will not even see the equal of XG.  It was the one precious metal stock in my entire portfolio that did not see a pullback of any substance over the last three months.   That in itself is significant, I believe.

In the meantime, do not be a horse’s ass and buy this tomorrow.  Clearly, it’s overbought, probably because it never got oversold, like it’s poor compadres.   I have indicated above the place where I’d like to add.  And yes, I already have a shitte tonne, but there’s always room for pie, right?

Most stuff is overbought here, but on the radar for tomorrow are some small jumpers — MGH, BRD, AUQ, NXG, CGU, AZK. I also added to my GPL and AXU hordes today.

Best to you all.

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Otto’s Family Picture

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Today was a significant day for the silver miners. With the death of Prince Otto, the word was sent by carrier pigeon to Mr. Bilderberg and the Illuminati that they could once again indulge in the precious metal trade.  Obviously they took that word to heart, especially in the silver section, with the more sedate Jacksonians like SLW and PAAS up 6.26% and 3.20% respectively, and the silver miner ETF– ticker symbol SIL— up 4.29%.

Even more stunning were the pocket rockets.  Of course the double raw silver ETF, AGQ, was up almost 10%, but some of the small miners did even better. My second largest silver holding  EXK, was up almost 12%, while AG and MVG were both up over 8% each.   Even ANV, the  mercurial Jacksonian gold stock, got in the groove, with a move of over 6.72%.

Even more promising was the chart damage today’s moves did on the silver bears.  AG is the cleanest example:

EXK had a similar breakout today:

I love how these rockets are leading us up like they usually do.  I am not, however “all in,” yet, as the $HUI continues to bedevil me by refusing to resolve itself.   The 50-day still remains a micro-hair above the 200-day EMA and they are flattening to a needle point.

My one consolation is that we’ve finally closed above both key EMA’s at $528.42.  That’s noteworthy, since we haven’t been above either one since early June.  Stay tuned tomorrow for some follow through.  I may even expend some cash.   I’m looking at EGO and CDE to continue moving higher tomorrow and to the end of the week.   My top pick for tomorrow, however, is GPL.

Tally ho!

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