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Gird Your Loins, Jacksonians

Here comes that pullback we spoke about.   I’m almost positive we’ll see even more next week, for at least a couple of days.  Now if you’re a late comer, you’ll have a chance to nibble at some bargains.   For myself, I will be eating some egg salad sandwiches, and dabbling in more psycho stocks while the busted part of this economy continues on.   

Keep in mind, the Irish banks [[IRE]] and [[AIB]] are blowing the roof off right now.  If shelalegh-toting banks in Ireland are hoisting the Guinness this late in the day, I don’t think we’re quite ready for the Domesday (sic)  Book to be opened again. 

I will have some more charts and the Jacksonian results later tonight.   Until then, have a gin & tonic and review some driver safety films or something.

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Hail Canada!

Some reasons to truly love Canada (in alphabetical order):

Elisha Cuthbert – Calgary, Alberta

Natasha Henstridge- Springdale, Newfoundland
Michelle Latimer- Thunder Bay, Ontario
Michelle Latimer- Thunder Bay, Ontario
Rachel McAdams - London, Ontario
Rachel McAdams - London, Ontario

One last reason to love Canada.   Great Canadian Investigative Journalism, regarding FNM and FMC:

 [youtube:http://www.youtube.com/watch?v=cMnSp4qEXNM&NR 450 300]

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Both [[GG]] and [[AUY]] are coming back strong, but the $HUI has bonked against $400 a third time here… not “going away” but still showing opportunities to accumulate.   [[NG]] has gone parabolic.  Hold on tight, it looks like liquidities are continuing to go into commodities and some crazy biotechs.  Trade accordingly.  Best to you all.

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Oh Shizzle! They’ve Killed RoboCodizzle!

Naw, it’s not that bad, yet,  but Detroit is getting there.   Let’s see what a couple of years of a U.A.W. -driven Chrysler do to it.

But let’s put all that aside and talk about the invisibility of this gold bull, shall we?  I mean, my astute buddies over in the estimable PPT — that Powerful Profit Taj– (have you signed up yet??)… even those gentlemen seem to be walking around that trading room like zombies in the Night of the Living Dead, completely oblivious to the blooming precious metal bull that is erupting around them.  

 Why, just today, one of our estimable patrons sold our featured “pocket rocket” junior miner (see below) as if it were one of CA’s 30 second Viagra Vehicles.   Let me tell you, I was aghast!  Mortified!

But let me assure you, Jacksonians, this odd behaviour (sic) only inures to our collective benefit.   The longer the general public (and let me make clear that the PPT community is NOT the “General Public,” they are at least “English Beat” or barring that “Fine Young Cannibals”– ) remains ignorant of the stealth bull in the precious metal miners, the better it is for our accumulation purposes.   

For, my friends  (come, gather close so I may whisper it to you) — we shall be as the most miserable pinch penny miser on Ebenezer Scrooge’s third shift staff, sparingly sifting our gold and silver specie into dark musty lock boxes while others pass the punch with knowing glee and manly aplomb.  Let them have their japes and their ales and their merry tunes played upon a three stringed fiddle, for we shall act quietly here below, rebuilding the foundation of a hackneyed and eroding financial system for our children and their’s.   It is weary work, but God smiles upon us, and there shall be reward.

That said, I dont’ have much time to dwell on the blindness of the common man, so let’s take a quick look at what they’re missing. 

Remember this chart of the AMEX Gold Bugs Index from a week or so back?

hui_daily1

Pretty nice looking chart, no?  Maybe some of you got long after looking at it?  Maybe some of you ran out and bought some gold stocks the next day, too.   (Heh) 

 Let’s see if that was the smart thing to do, from the perspective of a week later:

hui_dailyii

Well peel me naked and slather me with mornay sauce, whaddaya know?  A breakout just like we expected.   And look at all that free air we’ve got to go.   Hmmmm…  and what was  in that Index again?  Oh yeah, a lot of juicy big cap gold and silver stocks.   

Think maybe that break into the free zone will have some effect on our junior miners?   Heck, let’s see:

ngd_daily 

 This is your golden burrito for tomorrow and for the summer, my friends.  We shall share recipes for further tasty treats as time allows, but for now, know that outside the Jacksonian Core*, I am also purchasing and/or considering the purchase of the following precious metal mining hardies:  [[GG]], [[EGO]], [[AUY]], [[EXK]], [[NGD]], [[NXG]], [[NG]] and of course [[AGQ]].    

Keep in mind also, that there was a pretty bearish candle on the TLT today, boys and girls.  If that bond group and the Ten-Year Starting breaking down, it’ll likely be sayonora for the large part of this market.   Except maybe one part.

Caveat:  If you follow me into the purchase of any of the above named precious metal plays, your children will be stolen by Hobgoblins and traded to dwarves for shiny strips of tin foil and moldy bacon. 

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 ANDE — $22.20  (-2.42%)

GDX — $41.24 (+1.90%)

GLD — $93.85  (+1.73)

IAG – $10.23 (+0..69%) 

MON — $89.29 (-2.77)
 
NRP — $22.57 (-3.42%)

PAAS — $21.19 (+0.95%)

RGLD – $44.90 (+4.98%)

SLV — $14.34  (+1.69%)

SLW — $9.41  (-0.53%)

SSRI — $22.17  (+0.77%)

TBT — $52.43 (+4.96%)

TC — $8.46 (-7.44%)

TSO — $16.53 (-4.40%)

Daily Average: 0.25%

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UPDATE: I sold the calls on TBT again, here @ $53.58.   I think TBT is a bit parabolic here, and TLT looks like it’s ready to bounce.

See caveats above.

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Yeah, This Oughtta be Great for Unemployment!

Sometimes watching the Pelosi controlled Congress is like watching a late season filler on“The CW.   You know the sort– base, corn comedy, most of it recycled from better stuff in the past, but mildly entertaining as filler for the beer and cheeze doodle half hour.   Unfortunately, this is real life, and the stuff  Congress is producing these days isn’t mindless entertainment for the subliterate masses, but toxic fiats that will kill off whatever fluttering hopes our economy might still retain after this recent hideous downturn.

Case in point, this latest howler from  FLORIDA Democrat Representative Alan Grayson  (word to my boys Chivas, TC and Cash n’ Guns, whatsupwitdat?).   Congressman Grayson claims that what we need to “stimulate the economy” again, this time with  mandatory paid vacations.   Read the whole article here.

Yeah, in this economy I could see strapped businesses being all for paying their employees to hit the beach, Rep. Grayson.   I can just hear the small business owner now:

“Mandatory vacation?   Hmmmm… let me think a second.   I tell ya what… why don’t you just take the rest of the year off?”  

You just earned my Asshat of the Month, Congressman. 

Following is an excerpt from the article (hat tip to The Politico): 

Congressman: We’re going to Disney
By: Erika Lovley
May 21, 2009 04:28 AM EST

Rep. Alan Grayson was standing in the middle of Disney World when it hit him: What Americans really need is a week of paid vacation.So on Thursday, the Florida Democrat will introduce the Paid Vacation Act — legislation that would be the first to make paid vacation time a requirement under federal law.The bill would require companies with more than 100 employees to offer a week of paid vacation for both full-time and part-time employees after they’ve put in a year on the job. Three years after the effective date of the law, those same companies would be required to provide two weeks of paid vacation, and companies with 50 or more employees would have to provide one week.The idea: More vacation will stimulate the economy through fewer sick days, better productivity and happier employees.“There’s a reason why Disney World is the happiest place on Earth: The people who go there are on vacation,” said Grayson, a freshman who counts Orlando as part of his home district. “Honestly, as much as I appreciate this job and as much as I enjoy it, the best days of my life are and always have been the days I’m on vacation.”According to the Center for Economic and Policy Research, 28 million Americans — or about a quarter of the work force — don’t get any paid vacation. The center says that a lack of vacation causes stress and workplace burnout and that those evil twins cost the economy more than $300 billion each year.

One more if-you’re-reading-this-then-you’re-probably-not-on-vacation fact: The United States is dead last among 21 industrial countries when it comes to mandatory R&R.

France currently requires employers to provide 30 days of paid leave.

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Maybe next we can have full country truck strikes like they have in France, too, huh Congressman?   Asshat!

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