Actual Photo of Fly Taking in Today’s “Winnings”  (IOU marker from Devil Dog)

Over at the PPT’s special “User Notes” running commentary section, otherwise known as “The Smoke Filled Room,” we are slowly, slowly, ever so slowly, mining the equity markets for all of their loose cash.    We are being quiet about it, and despite the clamor on this site, not too braggadocious– especially considering how efficiently we are picking the purses of the slug footed, tuft-eared mutual fund “management” drudges. 

That PPT.   That conflation of laser-sited market research and shared expertise, combined with the real-time shout outs of the elite membership… Hooo!  That sucker is hitting on all cylinders right now!   By Jupiter’s Stone, we may just suck all the stamped coinage out of this market before we’re done  — that is, all but the occasional TARP fund or whatever other “rescue” device Congress manages to filch from your pockets for eventual distribution into ours.  

It’s almost not fair.   Almost.   Luckily, we’re accommodating folk and friendly to strangers, so you can still join us and add to the fun we’re having.   So far, there’s still some dough in the market not yet claimed.   Come, give a hand. 

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In the land of Jackson, it’s a sad and blighted day.  Not so much as because of the over all portfolio performance — as it actually ended up today despite the laggard pace of the PM’s as they continue to consolidate last month’s move.   No, it’s sad because we’re tossing a soldier from the ranks today for gross insubordination.  Yes [[TSO]] fell below the $15 level again, and like Captain Bligh chewing apples seeds on the mizzen deck, I decided to make an example of him.  So I had him horsewhipped and thrown out into the street with the scallion leavings, bad porridges and other cobblestone-riding flotsam.

I had my stop set at $15, but the excellent execution of the House of Pershing took me out of my shares at $14.98, which is where I will leave that price (an ignonimous  loss of 6.43% since inception buy at $16.01) for the remainder of the week and/or until I find a replacement.   Because I “bought” every position in increments of $10,000 for purposes of this portfolio’s proper accounting, my next purchases will only use the $9,357 in cash left over from that sale.  

(As an aside, I suppose I should also make some allowance for the one third sale of [[TC]] yesterday, but that may be getting a bit overcomplicated for this grouping.  We’ll see how it goes).

The comments are relatively self-explanatory — I sold 1/2 the calls on my [[TBT]] position today, and probably should have sold more, but there it is.   Bruce gambled, and he won by selling early, as I sold my July 60 calls for $2.15 when TBT was just above $58.00.  [[TC]] remains a beast — like [[ANDE]], it’s over 70% since inception now,  while its exiled brother, TSO, remains a piece of dog offal.  

Be gone with it, and good riddance. 

 Jacksonian Core Portfolio Holdings Results

Name	10-Jun	11-Jun	% Change		Comments
ANDE	$    30.48	$     30.70	0.72%		Crawling up the trendline again.
EGO	9.13	9.15	0.22%		Nowhere on light volume.
GDX	40.80	40.92	0.29%		Closed right on the 61.8% retrace
GLD	93.86	93.70	-0.17%		POG actually up $4.10 today.
IAG	10.21	10.08	-1.27%		Mirroring the GLD chart.
MON	85.85	86.85	1.16%		Sold 25% more MONGO’s today at $12.70 (+63%)
NRP	24.01	24.21	0.83%		Still laboring, looking for $24.60
PAAS	22.15	22.61	2.08%		Stochs turning up again, low volume, though
RGLD	43.90	43.92	0.05%		Looks like it’s headed for the TL again (43.60)
SLV	15.01	15.13	0.80%		PO Silver up about 24 cents.
SLW	10.18	10.26	0.79%		Touched trendline, and rebounded.
SSRI	22.75	22.81	0.26%		Stoch up on low volume too.
TBT	58.77	57.52	-2.13%		Sold off as expected.  Sold 1/2 July Calls.
TC	11.32	12.13	7.16%		Godzilla rebukes me for selling some yesterday.
TSO	15.35	14.98	-2.41%		Sold on break of $15.  Frozen @ $14.98 price for the month.
AVG (daily)			0.56%
AVG (monthly)			-0.32%
AVG (inception)			25.50%

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Sometimes it’s not about the money, it’s about the high.  The high you get from being right when everyone else (or most everyone) is wrong.   Let me tell you it can be a heady thrill,  as good or better than any triumphs on the athletic or academic plain.

But I implore you to forswear this high.   Do it today.   For it will turn you into a ravening frog-eyed hermit, cursing the clouds and the crowds for not bending to your superior will and your knowing…. your knowing.

This is a game of accepting defeat after all, shaking the Fly’s hand in a firm, but gentlemanly fashion and then moving on.  It’s  not a game of self incineration.   We must keep foremost in mind that a mass of blackened carbon cannot sally forth ever again.   He can only sit, and smolder and fume and smoke…. 

And curse his fate…

On alternating Mondays.

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   It looks like no one will be able to keep these commodities down for very long.   Is it the dollar?  Is it our interest rates?  Looming inflation?   I don’t know.   “KISS” — not the rock group but the acronym — instructs me to “K-eep I-t S-imple, S-tupid,” and so I will.

Just follow the trend til it ends.   

Is that instruction really that tough to follow?   Yes, the Devil Dog is in the details, but then you’ve many friends here (and on The PPT) with whom to consult.   We shall not leave your side despite your sweaty palms and mild B.O..      The bio-techs are still working.  Don’t ask me why, I blame CA  for starting the conversation with a grainy haus frau in a smoke-filled bar in Washington Heights three weeks ago.

You know how the flutter of the butterflies wings in a crowded tavern leads to hurricanoes in the porcelain room?     I like [[HEB]]-rews here, and First Phillip-ians [[MO]].    Another stealthy bio-tech I’ve been mentioning is [[SVA]] which had another solid day.  Last [[BIOS]] could take off at any time.    Or not.  I like it in the low 4’s.

As well, the commodites are working their tiny little mono-muscles .   General Jackson’s [[TC]] rebounded with great vigour (sic) and newly acquired [[TIE]] (non-Jackson) looks good too.  Even the PM’swere not pulling back with the vigour I expected from this mornings sad state of affairs.  My goodness, the worst hit Jacksonian was our highest flyer thus far, Mr. Anderson [[ANDE]], down a little over 3%.    By the way, if he could see his way to $28.40 tomorrow, or close thereby, he would offer an excellent entry for all those seeking his agrarian charms.  

Let’s look at the rest of the Jacksonian Core Holdings list, with attendant commentary:

Name	8-Jun	% Change		Comments
ANDE	$ 29.12	-3.09%		Finally backing off a hot run. $28.40 entry.
EGO	9.27	0.32%		Gapped down, bounced off support & finished up.
GDX	41.30	-0.07%		Got our $40 target and bounced at support.
GLD	93.56	-0.16%		Hung on 20-day and 78% long term fib.
IAG	10.21	1.49%		Beautiful hammer off support, could be ready again
MON	82.79	0.99%		Still battling.
NRP	23.93	-2.33%		Still struggling with that $24 line.
PAAS	21.50	-2.63%		Another long tail doji, good EOD volume.
RGLD	44.10	0.05%		Gapped down, bounced off support & finished up.
SLV	14.76	-1.67%		Tested $14.50 early, then up the rest of the day.
SLW	10.18	-1.83%		Gapped down, bounced off support & finished up.
SSRI	22.13	-1.03%		Yet another hammer doji, this time on the 38% fib.
TBT	57.29	0.61%		$60 next stop.
TC	9.74	-1.81%		$10.96 near term target.  Another hammer doji.
TSO	15.68	0.77%		Wretched, but alive for today.
AVG		-0.69%

Let’s hang together shall we?   I’d rather not hang separately.

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Don’t says we never gave ya nuttin’.   [[SPAR]] is currently #4 on the PPT’s Top Ten List.  

The fib lines are a bit thick, but the price closed on Friday a good 15 cents north of that long term 38.2% line you see there, at $10.49.  

You want to know who is numbers one through three?   Sorry, I am not at liberty to disclose…

I’m afraid you’ll have to ask the site’s proprietor. 

Who knows?  He might have eaten some bad mussels last night and as a result become inclined to sudden spasms of generosity.   It is Sunday, after all, and stranger things have happened on Sunday.

Best to you all.

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There’s a lot of Dr. Seuss read in my house these days, so doing tricks with bricks and blocks is something with whch I’ve become quite comfortable.  The candles in the charts are another trick brick block tack I take on here as well, as you know, and this weekend I’ve got three “outliers” for you.

Here are three charts for stocks I’ve been looking at recently and which I believe are showing some short and long term promise.   Keep in mind, the Jacksons are our long term picks, and while some of these may be good for a longer term hold, I wouldn’t characterize any of these as “buy & hold” for the duration type vehicles.  I’ve put some targets on these for your reference.   OTB-style traders rejoice.

First my old friend from the crazy days [[ARTC]], which is now trading pink sheets thanks to some accounting problems a few years back.  They’ve got a new management now and it looks like they may even re-list soon.  You can see from Friday’s spurt that the market has gotten a bit more accepting. 

Again, this is one you want to watch closely, but you might get a nice pop to at least the 200-day EMA here ($14) and perhaps a bit higher before it breaks of this current momentum run.   Not a long termer, so I just give you the daily chart:

Next is a stock with a little bit more long term potential, hence I’m going to give you the weekly look.  [[TRID]] is a digital chip maker that supplies the LCD market, one that’s gotten all kinds of hot here in just the last two weeks.  This is one The Fly likes a lot and as a consequence, has had the PPT (are you enrolled yet?) buzzing for the last two days.   Again, note the short term targets, and the “fantasy targets” well north of there.

My last look is a cousin of the Jacksonians in [[TIE]] the titanium producer.   As you can see, it’s broken above some significant resistance here on the weekly, and I think the 38.2% fibonacci is a promising target for the intermediate term, above $17-.    [[RTI]] is another significant mover in this space, but I think TIE has more room to catch up here, and so could be the more promising for a trade.  

As alway, please remember that dabbling in any stocks in this dicey of a market will likely lead you to a freak lawnmower accident while pricing John Deere “Zero-Turns” at the local Home Depot.   I’d much rather you convert all your money into Franklin dimes, put them into Mason jars and salt them throughout your in-laws’ backyard.

Best to you all.

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I got good news and bad news on the market  front, ovah heah.   The good news is, I’m going to show you my Russell 2000 chart ($RUT), which I’ve been using to parse the market since before the first bank meltdowns of late 2007.   You see the Russell, even more than the [[SPY]] in my opinion, gives you a better view of the “overall market” than any other index.    You can also check it’s volume using [[IWM]] it’s ETF.

I find that the Fibonacci retracement lines work very well in analyzing the Russell as well.   Take a look at where where we found ourselves this morning:

As you can see we are bumping up against one of the stronger Fibonacci “Golden Ratio”  (inverse) lines at 38.2% (the other being the actual Golden Ratio of 61.8%).   I expect that means at least some sort of rest stop here.   That said the “good news” is that 13-34 week cross which implies further bullishness should it continue.   As I have attested, and I think even Woodshedder has agreud (sic) — the 13-34 week “golden cross” is one of the most significant bullish or bearish indicators out there.   

Let me know what you think, but don’t be surprised if I disregaurd (sic) your thoughts in a cavalier, dismissive way, whilst inserting snuff up my nose, all atop my “knee-controlled” white charger.

One other point — some of these biotech unpinned hand grenade small craps are pulling back a little today, and since I sold off 2/3rds of my [[HEB]] -brews yesterday, I may dip back into the Red Sea to rescue some more pedestrians today.    I also like [[IMGN]] here (thanks Henry!), but will not add more as I am “full up” to the brim with it.    [[SVA]] also bounced nicely off it’s trendline today, but I’d wait to see if it drops back to $2.90 before taking a chance on any of it.    The last insanity is [[CTIC]] which has been a darling of The PPT, along with [[BEE]].   I think the latter looks a lot more promising, but have not gotten any yet. 

As always, I recommend you stay as far away from the above paragraph as you would a Mossad Hit Squad with your name at the top of their list.   There’s no question your purchase of any of the above will warrant a quick waterboarding, coupled with a full-torso Obama campaign sticker “body bind”, finally finished off in a late night rowboat assisted drop into The Great Salt Lake, where you will bob for hours, your pitiless cries ignored by disinterested Mormon seagulls.

On the precious metal front, as I suspected, more pullback, but the metal rustlers cannot disguise all — [[PTM]] looks strong here, comparatively.   Slow and steady wins the race, old boy.   Best to you all.

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Update: I bot 2k more HEB to take with me across the unpaved Red Sea @$3.10.

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There’s that bloody pullback we were talking about last weekend!  Um — No need to overdo it, there, brother!   We don’t want to scare any new Jacksonians away now, do we?   

Well I can’t say this wasn’t expected, although the bludgeoning of [[TSO]] is a mite much in my opinion, and may warrant some additional consideration, should it continue much past the $14.80 level, where I would consider it more than a bit damaged.  Obviously VLO and WNR are the culprits here, both pointing to an overcapacity in the business and possible need to raise capital (on WNR‘s part) allegedly.  As you know I was short the June 17.50’s, but even that money doesn’t make up for today’s bludgeoning.  I may just reshort the 15’s, here and exit if that is my fate.   TSO is something of an oddball (like MON and ANDE) in that it’s not directly commodity related, but rather peripherally.  

In short, I’ll let you know what I decide, but for now, TSO is on the “back alley execution” list.   Even though I bot most of my TSO below $10, I recognize that it’s only “Jacksonian” from the official start date of May 1st, so I will account for the loss (bot @ $16.01) from that date if I take it.

The good news is I think we may have a new Jacksonian entrant.   I began a “starter” position in [[PTM]] today,  at $15.14.   As I type, it’s about a dime below that, so I may add before the day is out.  If do add PMT to the JCHP, then I will likely kick out TSO, at a loss.

In other Jacksonian news,  [[TC]] is getting its socks rocked, in one of it’s now familiar one day pull backs.   Perhaps I’ll remember to sell the calls when I should next time.    As it is, it’s filled that $9.59 gap from last Friday, and I shall probably add a small amount more today.

[[EGO]] has tested the rim of that long term cup that was in formation from July of last year.  I expect it should hold up here, and I will likely add a small amount from recent biotech winnings to my pile here as well.

[[SLW]] I would wait on, now, to see if it can’t fill that gap down around $10-.   Gap fills have been excellent buy opportunities as of late.   [[SSRI]] ($23.38) and [[PAAS]]  ($22+ ) are both at good accumulating points, here.   Also if you feel adventerous, non-JCHP double Silver ETF [[AGQ]] has pulled back nicely here, too, but you may want to wait to see if it fills that gap at $52.30.

All the JCHP golds are accumulatable at these levels, right now, and I’d grab RGLD first, as always, and GDX is always a good “backbone” hold.

Caveat:  As always, I offer my opinions only, and not the usual advice for which you consult your local gypsy palm reader.   If you decide to follow me into the Jacksonian fold, it is because you are a person of independent means who spits in the face of market carnage.   Just remember that here, even in this sainted borough of the iBC Website, you can most assuredly get shot.   Trade accordingly.

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Update: I bot 2k more EGO at $9.38.

Update: I bot 1k more PAAS at $22.05

Update: I bot 4k more NG at $4.85

Update: I sold 4k TSO (25%) at $15.02

Non Jacksonian Update: I bot 10k CTIC  (25%) at $15.02

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