Well it was a day so full of hammers in the Jacksonian portfolio that we could have built a break front works that would have repelled the stoutest of cavalries. You can see my comments in the notes about them, but generally a lot of hammers means that you are seeing final bottomings in stocks as they open high, chase a bunch of sells lower and then close high again, working out final selling positions.
I say this happens “generally,” but we shall see what happens tomorrow. The good news is we’ve gotten to pretty oversold conditions in almost all of the Jacksons, so those of you who have been picking up bargainst these last few days, bravo. I think we shall see some action as we head towards the end of the week. As it’s options expiry, I hope it’s not that X-rated kind of action no sensible gentleperson wants to see.
I was doing some work on fibs, but I have to run to a lacrosse game, so my findings will have to wait until an addenda is readied with my findings. Let’s just say these ten year fibonaccis are, in the words of Commander Spock “Quite fascinating, Jim.”
Many apologies to those not named Jim.
Here are the “notes,” I will talk to youse latah.
Name | 16-Jun | % Change | 17-Jun | % Change | Comments | |
ANDE | $ 29.04 | $ 28.88 | -0.55% | Still in triangle consolidation. | ||
EGO | 8.51 | 8.65 | 1.65% | Bullish engulfing, two days black now. | ||
GDX | 38.37 | 38.23 | -0.36% | Nice hammer on the day, despite slight down. | ||
GLD | 91.93 | 92.35 | 0.46% | POG $940, beautiful hammer. | ||
IAG | 9.54 | 9.65 | 1.15% | Hammer off the 23.6% fib, too. | ||
MON | 81.62 | 81.08 | -0.66% | Opened down, nice recovery. | ||
NRP | 22.44 | 22.13 | -1.38% | Red hammer just above the 38.2% (22.05) | ||
PAAS | 20.74 | 20.39 | -1.69% | Held support at $20, oversold like a mothah! | ||
RGLD | 42.90 | 43.73 | 1.93% | Bouncing on 43.50, another EOD selloff? | ||
SLV | 13.99 | 14.12 | 0.93% | POSilver @14.34, $13.80 support held | ||
SLW | 8.92 | 8.80 | -1.35% | Hammer on $8.50 support, nice trade PPT! | ||
SSRI | 19.62 | 19.22 | -2.04% | I bot it one last time as promised! $19.02. | ||
TBT | 53.59 | 54.17 | 1.08% | Bot back 1/2 my calls today as promised. | ||
TC | 10.68 | 10.50 | -1.69% | Caught support @ 9.60 and then took off. Hammer. | ||
TSO | 14.98 | 14.98 | 0.00% | Is TCK the replacement, let’s hear your vote! | ||
AVG (daily) | -0.17% | |||||
AVG (monthly) | -7.44% | |||||
AVG (inception) | 16.22% |
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PS — note the final comment on TSO, which goes away soon. I am seriously thinking of adding [[TCK]] which I added today at $15.04, to the Jacksons. It’s only serious competition is [[BHP]]. What say youse?
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