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A lot of the junior golds are looking good here and particularly appetizing on a pullback.  GDXJ should be your default if you cannot pick out a couple of nice names, and it looks good on a pullback to just above $22.00.  Put your buy in a dime plus or minus above that line and you should get something on what I believe will be a relatively imminent pullback.  These boys have moved but I think its  time to take a nap maybe for a day or two.

If you want to roll the dice a little, I like AAU here — the basketball league stock!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As you can see from the chart, its already run us quite a chase, from $1.55 a share in early August to over $2.80 today. We are late in the run and are due a pullback, probably in that $2.95 region marked above.  Good news is you can choose any of those pullback entries marked above,  or buy 33% at each interval to keep things smooth.  My plan would be to purchase that one third either at the break of $2.95 or at the point of the first pullback.  If we bounce from there, you can buy your second third at a break of $2.95.  If it continues to break down you can accumulate all the way to the last buy point (approximately $2.45 or so).

In any case, remember this is a Mad Money type of investment, and not one to be throwing anything more than 5% of your portfolio at.   This is the time these stocks run, however, so if you want to experiment, now is the time.

Best to you all, fellow youth basketball summer league players….

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[youtube:http://www.youtube.com/watch?v=RDnlU6rPfwY 450 300]

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She sends me,

If I spring a leak, she mends me.

I don’t have to speak, as she defends me.

A drunkard’s dream if I ever did seeeee ooooooone.

(Appropriate electro-banjo interestice)

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Silver (la Lune) and gold (El Sol)  are both galloping across the skies now, impervious to my caution.   Thundering over my head, their coursers full afroth,  they say “paaah!” to my 70% position, daring me to chase my favourite (sic) miner names like some aging bobby soxer on Frank Sinatra Night at the Sands. 

I will not, however, as some option positions in the longer term department have sated my appetite for “easy dough” at the moment.  Instead I will stick to the still bargain issue lesser metals that are just now awakening to aroma of the lightly salted lightly peppered Bernanke Steaks that are being served to the market, “screw inflation”-style.

I will admit that I should have realized the printing presses would be truly whirring this week, as “the Bernank” attempts to assist “Backbone Barry” in ways that even Plugs Biden, with his literally literal literalisms and abstruse accolades cannot.  As I type, the dollar is down more than 80 cents (!!), plunging below the 50% fibonacci line that I mentioned the other day ($80.72) and now heading for the next support at $80.00 or so. 

Given the ferociousness of today’s takedown I wouldn’t be surprosed if we broke below $79, even in the near term, as we head to new lows in 2013.  Ben seems to be pulling out all the stops, as unemployment still sucks, and the only thing that will get people to think things are ok is if the market is up, up, up.    So be it, but just keep in mind we are playing with interest rate fire here.  That’s why I like the commodities more than the stocks here.  It’s only a matter of time.

I see my perspicacious friend Le Monsieur has already taken my “Cripple Creek” stock TC as his latest addition, so I won’t spend much time lauding it (you’ve probably already bought it, haven’t you?).   Know that this stock truly was crippled, unfairly, IMHO, by a bad financing timing decision.  It can get back to $5 (200 day EMA) very easily from here, I believe.

On other non-PM’s, I like TCK here, also beaten down like an ugly mule.  The nice thing about this metal mining sector is how you can make tonnes of money on beaten down stocks in it for about four out of the 52 weeks of the year.  I think we may be in one of those periods. 

Feel free to ask, I’ll probably say yes, but ask anyway.

Best to you all. 

 

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It looks like Argentum Silver is leading the PM hordes forth again, most likely as a direct predecessor to another dollar break here.  Up over 2.5% as I type and outpacing it’s usually more lively cousin, Aurum Gold, which is up only one-tenth as much.

I think this is a good sign, even for you non-PM investors, as silver is the more sensitive to the “commodity” and “industrial” sectors, and it’s rise here should be good news for all of you commodity speculators, whether you be earl rustlers or coal bandits.  I will continue with my investments in refiners until they stop making sense, however, even with a rise in earl.  I continue to like WNR and PSX, for instance.  HFC as well.

For silver bugs, I went long(er) today by adding to my AGQ position, for the short term trip to the 200-day EMA, at close to $50 right now.  I will likely sell this additional piece off when we reach that mark, however, as I don’t like to be too heavily leveraged in this volatile metal.   At least, not for any length of time.

I also like EXK here, despite it’s continue pokiness compared to jackrabbit AG.  SSRI also seems to be re-gaining ground, if you are of the speculative sort.  As always, SIL and SLW are the formidable base of my silver horde, and I recommend those for any toe dippers.

Best to you.

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Maybe this is the week of the “Paul Ryan Feel Good,” or just the week when Joe Biden rolled himself in a child’s wading pool full of tar and scrap paper, and then set himself alight.

Maybe the world feels a little more optimistic these days than they did even three weeks back.  Maybe that’s just an optical (auditory?) illusion.  Whatever the reason, the dollar is finally starting to budge a little bit, and we may be sniffing a break of $82.00 within the next week or so.  As a result, the risk trade, especially in the precious metals, refineries and earl & gas plays has finally begun to become more appetizing here.

You know I love SLW, and it’s really looking strong again here.  After consolidating on the 200-week moving average for ten weeks (but not breaking below it, important!), SLW is now over it’s 13-week and 34-week moving average.    Above $30 right now at a close today of $31.65, you might want to set a buy stop right at that low $30-ish level.  It’s worth waiting a bit for here, as the last couple of days have been explosive.  Almost always, SLW will reward the patient hand.  Again, SIL is for you if you do not want to own individual silver stocks.

On the gold side, I don’t think you could do much better than RGLD.  Right now it’s forming the right side of a mini-cup, and I really think the next time it breaches $80.00, it will be home free — flying in virgin territory.  It’s absolutely astounding what this stock has done over the last 10 years.  In 2001, it was trading at less than $2.00.  They’ve only gotten stronger in their royalty finance commitments recently, and now appear to be stepping into the big leagues.  I also like AUY, as mentioned, and of course GDXJ.

Last but not least, I like the refiners.  I love my WNR, and still clutch it, but for my money, I think PSX warrants a lot of attention too. After it settles down from its most recent breakout on the weekly chart, I think it’s a purchase at the $39.00 level. Whether it’s the year of the monkey or the Age of Aquarius, for some reason refiners are hot again, and it’s time to take advantage.

I think this string will run at least to the end of the month, especially if the dollar continues to cooperate.  At that point, however, I’m going to start at least selling calls, if not whole swaths of stocks.   This POTUS race is going to tighten, and I don’t think that will be good for market breaking into mid-September.  Until then, however, let’s play that grasshopper music.

Best to you all.

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Best.

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The other night I saw the Fly
And Jeremy and Chuck Am I.
Chess and Wine and Gappy Too
(Might sound like three, but only two)
Woodshedder bedecked in denim
Scotty with lovely wife, God bless’im

Cain Thaler came on wheelchair made
of Bamboo- wire and cut jade
Ancient even past his years
He breathed blue smoke and shed dry tears
For Detroit his home benighted so
By corrupt gov’t and cold grey snow

Fly made toasts to kith and kin
Whilst Jemmy’s stomach near augured in.
Gapp and Chuck, wolfish rakes
Assessed the women (even Jake’s)
Yet stayed their hands and played the part
Of gentlemen, with Gentle Heart

RC of course, the Silent Giant
Hove to the table, his palette pliant
Without his better half’s restraint
Drew ample beverage, drew ample plate.

One party missing, and well missed
The liberal heart, whom Nature kissed
No Cronkite and no Greenman showed
To plead ‘gainst MONstah, and for “O.”

Alas!

Progenic duty stayed the bars
(And further frolics with cigars)
Sent “the Jakes” home by one AM
Whilst Friends of Fly (and Chess and Jem)
Went forth with blessings from us both
For IBC, for friends and “Growth.”

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Someone claimed I haven’t posted in two months! Calumny!
It’s been a mere one month. It’s only seemed like two in our accelerated world. Things have slowed, or blowed, or both, and I won’t bore you with details, but I should be able to post somewhat more often, at least in August.

Did I mention I had to cut my vacation short and come home three days early? Yeah, I know, boo hoo, at least I have a job, right? What right have I to complain when this is the lot I’ve chosen? Right. None.

Meanwhile, while I’ve been resting my keyboard, the silver markets have begun to show signs of life again. If you are not in EXK and AG, you’ve still got time, but probably not a tonne of it. Likewise SLW which had a nice move today. Dollars to donuts the lesser bodies like MVG and SSRI will also begin to rise alongside the champions. Like usual, the real moves will be made in the Fall for those stocks, but it certainly wouldn’t hurt you to start accumulating now. As usual, SIL is a great “combinator” if you don’t want to agonize over the usual suspects.

Gold stocks have become almost too annoying to mess with on the individual side, so outside of RGLD, and maybe AUY, I am not going to recommend you dabble in anything but the ETF’s like GDX and GDXJ.

Before you ask, yes, I still own the rare earths (QRM and AVL, especially), despite their declines. I just add more on whims. What the hell, they are popcorn cheap and I am quite certain they will Bela Lugosi when the dollar heads down one more time this coming Election Season.

What’s got me in “near term buy” mode however, are a couple of stocks I’ve owned for a while that are showing nice promise right now. One is nat gas former superstar ECA, which looks beautiful, especially on a pullback to the $21.00 range. Another is PSX, which I “inherited” when it spun off of COP, back in April (COP being one of the Samurai Seven along with fat dividend gold stock AEM, which has also risen from the grave as of late). And along with PSX, I will take some HFC, another refiner. I like them both at $38 if you are looking for a buy range.

I will endeavor to be more faithful to you my friends. The spirit is always willing, as you know… the flesh? Well…

Slainte.

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I can finally utter a sigh of relief as I settle into a relaxing half week or so of sun and stupor on the Treasure Coast.  Tomorrow, I sunbathe and wrangle with bull sharks in aquamarine waters!

HA!   Just kidding, actually I’ve got two conference calls tomorrow morning and then another 8-12 noon job on Thursday.  Then when I get back Sunday evening, I can pack my bags for all this scheiss to start all over again, this time not in the Orange Grove State, or with any mai-tais to accommodate.

Listen pals, I know I’ve begged your mercy before, but this time I think I might be straining your good will to it’s failing point.   Listen, I know something’s wrong when my only knowledge of the public markets is via reading my e-mail blasts from Chess, RC and Jeremy (The PPT ratings).  I get all kinds of garbage through all manner of metric, but those three have been my anchor these last weeks.   Meanwhile, I’ve done very little in my own portfolio — perhaps out of stubbornness, but perhaps also because I believe that the miners are so beaten down in relation to the price of gold and silver that I think this may be the best buying opportunity I’ve witnessed since the March 2009 recovery.

Yes, you heard that right.  Every metric I look at shows vast undervaluation of the precious miners.   If you never touched these things, now is the time my friend.  I am even thinking of looking at the options market here.   Today’s divergence in the PM’s versus the overall down market may have finally revealed the truth about the liquidity that cannot be denied in these names.

And somehow, it all makes bizarre sense.   Listen — we just had a deal go out that had more bids on it than anything I’ve ever been associated with in my career, and yes, that includes my time in the white shoe world of the Fortune 500-exclusive IB’s of Neuva York.  It’s a shark frenzy out there in the private markets ladies and germs… those dudes have capital– shitte tonnes of it —  and they want to spend.  You think its twin in the public market is really going to puke it all down here?  Good luck, pal.

BAA, you sick fuggers.  BAA.  Then RGLD, SLW and UPS, and MON.  At least that.

Wish me luck, and if you cannot stomach that, then wish me survival.

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