No, not that.

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I hope you all had a fine Labour Day Weekend.   I spent mine fending off a myriad of stressful “deep nature” day trips (with all the kids) whilst trying to cajole–via overheating Crackberry Storm II — both clients and adversaries into a proper canvas and balsa-wood box which I plan to nail shut tomorrow morning and mail to Zambia, postage due.

True, I do this stuff because I love it, but I also do it for Barak and his indigent health care plan.   I want to make sure that shit is well stocked as it launches off the pier.

Given that The PPT is indicating at least a near term pullback, perhaps as early as tomorrow morning, I figure I’d take a look at some loooooonger term plays out there that may be worth taking a pinch of snuff and blowing some loose cash on.

Said loose cash should be in abundance as you all are reaping big gains from the TNA sales you’ve been harvesting as The PPT has directed you, yes?   

Or you’ve at least salted away a couple of dollars by following my direction in ANV or SLW in the last six weeks, am I correuct (sic), sieur?

No?

No matter, as I’ve always got more to give, though it’s questionable whether you deserve it or not…  I think at least two of the following three will work going forward to Christmas, or at least the time of the Turkey gods.  Let’s see if  you can figure out which I think are the best.   First, our recent wilting lady, CREE in a monthly chart:

Then there’s her somewhat zany half brother in the LED poison industry, VECO:

Then, just for giggles… there’s that one I told you to hold until you were a grandmother, or similar benevolant adult figure.  It really doesn’t need much comment:

Don’t lament that you were not here at the beginning of the bull in precious metals.  Rather, take advantage of a trend that still lives.   Andgo ahead,  fool around with a couple or three tech names as well, but be cautious, as those should be shorter term plays (within this year) than the PM’s.

Best to you all, and Happy Labours.   Try to keep hold off some of it, eh?

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“Buy Stocks, My Plebs!”
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I ran into CH (that’s what I call her, “CH” — we’re buds) at the perfume counter at Bergdorf’s and she said “fugheddaboud the gold and the silver stocks for now, Jake, go out and get you some high beta stocks. Now, ged OUD dah heah!”

That vocal coach has done wonders with her Joisey accent, no?

CREE, VECO, SQM, POWR, TIE and, most of all, ENTR are all on my radar screen for tomorrow.

Slainte.

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Sometimes we are dealt a great hand. It’s important to endeavour to make good use of it “whilst the sun shines,” etc., etc., but it’s also a great excuse to reflect on personal responsibility and even gratitude.

There’s very few of us who visit these here internets who are not hard working and deserving of well-earned success.   There’s nothing wrong with assaying how far you’ve come as a result of personal sacrifice, ingenuity, and sweat equity– and, correspondingly–nothing wrong with giving yourself an attaboy (girl) for sticking it out and getting it done.

As long as we realize that’s not the primary goal.  

We’re here a short time, and there’s plenty to do.   Staring into the sun or the mirror are equally useless activities, albeit harmless if performed in small doses.  

Better for you in the long term, however, may be this prescription — if you’ve climbed the mountain, you might think about what you can do set the next schlub up to do the same.  

After all, just from a strictly aerobic standpoint alone, there are plenty of mountains and plenty of schlubs out there to keep you busy.

Beats golf, anyway.

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I did finally end up getting some TNA today, albeit late.  I was running around in meetings this morning and missed the open, so I waited til almost 3 pm and got in at $36.18 and $36.28 — a full dollar higher than the open, which is where The PPT told me to get in.  

Lesson learned — never second guess The PPT.

I also increased my position in ENTR by a bit at the dreadful number of $6.66.   I will try not to read into that one too much.

You know what happened with silver and gold.   ANV in particular was really looking good.  Let’s not gloat.

Best to you all.

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Yes it is….

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I haven’t a whole lot to add, save that I expect a ripping bounce (at least) if not a further resumption of the dollar bow-out.   We actually came within four cents of hitting $82.50 after hours on the DXY (dollar index) and I wouldn’t be surprised if she tried for the 50-day at $83.06 after such a ramp.

That said, The PPT is very deeply oversold and that’s worked as a signal for me for the duration, so I will respect it.   The dollar has already busted into overbought territory on the 5-day RSI stochastic, and even the slow stoch is  catching up after being severely oversold just yesterday.  Expect volatility, but continue to expect dollar death.  It’s already back down to $82.25 this evening.

For tomorrow, in time-honored The PPT tradition, I will be soaking in a mixture of Epsom salts and TNA at the open.   As an after-bath aperitif, I will be enjoying a balsamic vinaigrette and gin reduction of ENTR, which wants higher, despite today’s crazy ride.

Gold is holding steady and so is silver.  Add to long term plays as you see fit.  RBY was even up today, God bless her.

Best to you all.

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Guess Who?
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It’s very important  thaty you make your own inquiries in this world, and not rely on the expert testimony of even the chief-most of Lemmings.   There are many ways to skin a rodent, and each trapper has his own preferred signal.   One should not just adopt this ferret’s “inventory to sales” ratio, or that stoat’s “days short outstanding.” 

For example, I’ve offered you two macro-drivers that keep me optimistic in the near term:  Overall poor sentiment and the continuing degradation of the dollar.

I’ve mentioned here before that Jason Goepfort of Sentimen Trader had been warning for weeks prior to our current relief that bearish sentiment had dropped to levels equal or worse to those we saw prior to the early March ’09 market rebound.  

 That kind of bad sentiment doesn’t just provide a wall of worry for a corresponding bullish cycle — it offers a veritable Great Wall of China of Worry.   Look around the site at the posters pulling out great hanks of hair in disbelief that their prophesied market crash has yet to appear.  Remember this: the frequency of their ululations shall be your comfort.

I just hope they are not holding their breath.   Well, there’s always open auditions for the Blue Man Group, I guess….

My second contrarian-return to the mean reason for my bullishness is the fact that this current bull is powered by steam from a steam-punk unit. 

Well, er, okay… it’s either that or the fact the dollar has been plummeting since early June...

That’s quite a move in two months, no?   In fact, I for one continue to expect a rebound, and $80 looks like the right place.   That won’t mean I will discontinue laying the hot blade of lemming death to mine enemies, or lose my bullish bias any time soon.  There are reversals and then their are “corrections.”   The latter is all we’ll get here.

In fact, you all may want to take advantage of that bounce at $80, should it come, and grab some quick fire longs or PM’s you’ve been lusting after.  The way the dollar’s been trading since the Euro scare, it’s not shown a whole lot of relative strength, and even in a rebound, we may not have to wait for long.   

The charade is about up, I think, and pretty soon there will be a full fledged waterfall action on the greenback.   This is my reserved and considered opinion, of course, but one formed in the crucible of study and scenario generation.  I would advise you take similar steps to determine your own way, lest you find your next step deeper than you expected.

You know I like EGO, GFI, IAG and SLW here.   RBY is starting to move again as well, and watch for a break of $6.45 on MVG before partaking.   That may make the difference.  Oh yes, ANV is not done by a long shot, but it should pause for a breather here at $18.50 or so.  

Non-precious, I like farmer ANDE here, again.

Play on, then.

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Update! — Some interesting news from our 1.5 billion-count creditors.

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Have you been paying attention… or…?

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Let me just remind you of this post from July 8th — about three weeks ago.   In it I predicted the imminent death of the dollar, following a slight rebound.  Remember this shot?

I was scoffed at. 

Jeered.

The object of tossed day old lettuces.

The Euro was dead, right?  Deflation is our doom, isn’t it?   The dollar’s got nothing, nothing to do with this wacked out market.  

Right?

Well, it turns out I was wrong after all…

We never even got back to that $85.00 rebound target…  I think it was like $84.50, tops.  

As for everything else?  Well….

Never question my strong pimp hand, and never think there’s anything going on that can be described as “good” in this market that’s not directly ascribable to overt manipulation.  Absolutely zippo.   That also means it won’t last very long.  Best make hay whilst the sun shines, etcetera, etcetera, Peter Cetera.

GFI should be next to unfold tomorrow, my lovelies.  

Carry on.

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