Happy Birthday to the Big Big Boy

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Days like today are painful.

For instance, today my youngest is four. I go now to his natal festivities.

There’s nothing that says “looming mortality” than knowing that this one — your last for sure — is finally gone from babyhood. Next year, the little genius will be on his way to kinny-garten (sic), and the home will become a near-empty nest.

(Note to self — send the wife out a job-hunting.)

And so it goes, I guess, as we shuffle on towards the grave.
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Today was also a meloncholy portfolio day. Yes, all my glorious precious metal plays remained strong and the recent string of steamer trunks full of cold hard cash continued to arrive like lost Titanic luggage in my accounts, much to the chagrin and further penury of the Palo Alto Bear Fund.

But I also continued to liquidate. Do you know how hard that is in this kind of rising metal environment? It’s damn hard. But it must be done, if I’m to fertilize further conquests with the renewable blessings of the Turkey Gods.

I sold another K of [[AGQ]] at $68.36. Only half a position left, there. I sold 4K of Silver Wheaton Corp. (USA) [[SLW]] — my favourite (sic)– at $15.93.   That was only 20% of my SLW stash, but still as painful as giving up a pinky finger to the Sawz-all Wars.

I launched the last 20 Silver Standard Resources Inc. (USA) [[SSRI]] December $16 calls at $5.75, and the last 20 Allied Nevada Gold Corp. [[ANV]] December $7.50’s at $4.70 each.

I also sold 5,000 shares of Allied Nevada Gold Corp. [[ANV]] at $12.18, leaving me 10K, and another 1,000 of Silver Standard Resources Inc. (USA) [[SSRI]] common at $21.61, leaving me with just 3k left.

I still have much to harvest and I may yet be late in doing so.   Such is the special sadness of the fiat farmer.

I am at over 12% cash on the entirety of the portfolio and much more in the PM portion.

I’m off to give a Big Boy presents. Best to you, and good night..

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Bow and give sacrifice!
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You don’t think this cocaine and eggs party can go on forever do you?

Be serious. 

I sold a third of my [[AGQ]] today.   I got rid of the rest of my [[GDX]] calls.   I sold Allied Nevada Gold Corp. [[ANV]] calls.

I sheeved, I shrieved, I shucked.

Tomorrow, I’ll do more.

All things in good time.

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Don’t Mind Me…
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I have already bot small amounts of [[EXK]] at $3.20 , Exeter Resource Corp. [[XRA]] at $5.56 and now Royal Gold, Inc. [[RGLD]] at $49.97 today…

Why?

Because that’s what I said I was going to do, no?

What the heck good is this blogging stuff if one doesn’t act on one’s own discipline?

It’s weurth (sic) nothing, that’s wot.

Note, we are over $1,000 in the price of gold.
Note, we are over $1,100 in the price of gold.

Note, we are in “breakout to the next level territory,” the next level not being close to here.

In other words, it has begun, my friends. Pullbacks should be taken as gifts, and silver under $20 an ounce should be bought.

[[CDE]] at these levels is a golden basket of twinkies from the Turkey Gods. Do not disdain that gift, heathens. 

Their wrath– once disdained — will bring stuffing from the sky, that will occlude your carbureutor (sic) and make you late for work.

I will take other requests, and other queries, but do not test my good humor. 

Just know this —  if you have not taken advantage of the Grandmother Gold Stock (RGLD) upon this retest of the breakout, you have no one to blame but your old dodge-ball coach.

He foolishly allowed you to take one too many to the bean.

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Thanks, L’il Buddy!
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As Fly may have already catechized, The Turkey Gods are all about “giving thanks and praise.”

So this month especially you must dig out the old acolyte’s robe, dust off the incense urn, and begin “lubricating the pipes” with a mixture of chamomile tea and castor oil to ready them for the proper Gregorian hymns and chants of the Season.

This year, a full First Rite ceremony of Turkey Carols and strong-bourboned wassailing will be reserved for the Blessing of the Lemmings — that annual bishop’s tradition whereupon all good Lemmings worldwide are blessed by the Turkey Gods for turning over the proceeds of their accounts to those more weurthy (sic), in the Gobblers’ Mercy.

That would be we of the Jacksonian bent, who have been blessed once again with said proceeds, thanks to an Oracle from the West, who has instructed his flock to proceed swiftly over the cliff of “Short [[GDX]] ,” much to our non-chagrin.

May he and his tribe prosper and multiply — in at least a more favorable rate than they have been proceeding over aforesaid White Cliffs of Dover.
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To add to this morning’s glorious GDX burst, we are coming Turkeygod-awful close to $1,100 on the price of gold. This is a psychological barrier, obviously, as the more technical resistance resides about $20 north of that line.

That said, should we burst through $1,100, we may get a Maypole Dancing psychotic celebration of short covering in the miners as a whole, in which case, you want to be owning some juniors for purse-snatch quick gains that will accrue.

I like Golden Star Resources Ltd. (USA) [[GSS]] again, but also Allied Nevada Gold Corp. [[ANV]] ,
Yamana Gold Inc. (USA) [[AUY]] ,
[[BAA]] ,
[[CDE]] ,
Eldorado Gold Corporation (USA) [[EGO]] ,
[[EXK]] ,
Eldorado Gold Corporation (USA) [[EGO]] ,
Hecla Mining Company [[HL]] IAMGOLD Corporation (USA) [[IAG]] ,
Ivanhoe Mines Ltd. (USA) [[IVN]] ,
NovaGold Resources Inc. (USA) [[NG]] ,
New Gold Inc. (USA) [[NGD]] ,
Northgate Minerals Corporation (USA) [[NXG]] ,
[[PAAS]] [[PTM]] (platinum WILL catch up!)
Rubicon Minerals Corp. (USA) [[RBY]] Silver Wheaton Corp. (USA) [[SLW]] Silver Standard Resources Inc. (USA) [[SSRI]] Exeter Resource Corp. [[XRA]] , and,
most important of all — Royal Gold, Inc. [[RGLD]] “The Grandmother Stock.”
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On other fronts, commodity plays Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] are doing well again, and The Andersons, Inc. [[ANDE]] looks like it may have at least temporarily arrested it’s fall.

Monsanto Company [[MON]] is finally working on that Bollinger Band crash trade from a week back, at over $70, and let’s not forget about le grand merde fan hedge — [[TBT]] .

Last, pinless hand grenade [[CVM]] is on the move again, don’t ask me why, ask the Turkey Gods.

Pax Vobiscum, Children of the Turkey.

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Thompson Creek Metals Company, Inc. [[TC]]

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There’s room for Every-frickin’-body!
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It’s quite likely I’ll be busy today, so I wanted to throw a couple of brontosaurus burgers out there for your barbecuing pleasure in case things get all jiggy like yesterday.

‘Cause, make no mistake, we are entering into primo deal season here, if all of my bidness (sic) radar array are working in proper function.  My group is busier than a one-armed Palo Alto Perma-Bear at a self-congratulatory back-patting contest, and if the middle markets are moving, then I’m going bet the big boys have more cooking than just Uncle Warren’s Train Set purchase yesterday.

For one example, look for deals in the edumacation business, for one thing — companies like Apollo Group, Inc. [[APOL]] and DeVry Inc. [[DV]] and Career Education Corp. [[CECO]] have all been beneficiaries of a sea change in education delivery in the last decade or so.  

However, I think the paradigms are going to change even more drastically going forward.  I am getting this intuition from the myriad start-ups and later stage deals I am seeing in this space over the last 12 months.   As a result, I’d look for tuitions at all but the most exclusive post-secondary schools to come down in the very near future.   As a father of four near-genius children, I couldn’t be more pleased.

That aside, I think there’ll likely also be acquisitions in the Precious Metalspace as well,  as the various hedged and non-hedged behemoths squat and mark their territories by gobbling up junior miners with promising cargoes of “ounces in the ground.”   

To my chagrin,  I have no insight from an M&A perspective, as the majority of that deal making occurs north of our borders in the frozen outbacks of Canuckistan, completed by cigar-puffing investment bankers wearing snow-blindness goggles and polar-bear fur pantsuits.

Therefore, I can only point you out the promising junior and middle sized firms that may be in the snowmobile screens of various behemoths like Barrick Gold Corporation (USA) [[ABX]] , Newmont Mining Corporation [[NEM]] , Goldcorp Inc. (USA) [[GG]]  and AngloGold Ashanti Limited (ADR) [[AU]] .    These include:

Golden Star Resources Ltd. (USA) [[GSS]]

IAMGOLD Corporation (USA) [[IAG]]

Eldorado Gold Corporation (USA) [[EGO]]

Silver Wheaton Corp. (USA) [[SLW]]

[[CDE]]

Hecla Mining Company [[HL]]

Exeter Resource Corp. [[XRA]]

[[BAA]]

Ivanhoe Mines Ltd. (USA) [[IVN]]

[[EXK]]

[[PAAS]]

Silver Standard Resources Inc. (USA) [[SSRI]]

Compania de Minas Buenaventura SA (ADR) [[BVN]]   ———->>>> note: this one can be an acquiror or an acquiree, given it’s geographic interest.

and of course, the “catch all”  — [[GDX]] .

There are quite a few more that I’ve left off as I’m rushing, so feel free to add your own, and I may or may not add or comment on those later.

Best to you all, and one last thing:  beware the bear traps — and those calling petulantly from within them.

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Update: In a shocking and unexpected move the dollar is down again [[UUP]] .

Who could’ve seen it?  Heh. 

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There you stand, all “a-guts”with leftover Halloween booty, still feeling a little queasy from too much of that new beer you bought after seeing the “Most Interesting Man” commercial (you didn’t know it wasn’t Tecate… you just told the guy the guy at the bodega… “that Mex beer… you know?”)…

And now, this post-pumpkin Halloween Surprise and a half market.

Well, hold onto your grapes here folks, ’cause I think we’ve gotten an RSI scrape-out and bounce here on the [[HUI]] index, and I think the famed 38.2% fibonacci level has held as long term support in the $378 area.

This is significant because it looks like the price of gold is heading back up again– as mentioned Friday and again today– despite the best efforts of the IMF with their attempts at silencing the insatiable third world gold demand and despite even the recent dollar strength.

I think the overall markets may have one more wiggle before the lows are in, so you may have one more opportunity tomorrow to grab some miners before they begin their march back to El Dorado without you.

I like Golden Star Resources Ltd. (USA) [[GSS]] , [[EXK]] , [[CDE]] for “bang for your buck” cocaine dependent trader types, and I think IAMGOLD Corporation (USA) [[IAG]] and Allied Nevada Gold Corp. [[ANV]] and Eldorado Gold Corporation (USA) [[EGO]] are the best of the Jacksons right now.

As my nemesis, Hippy Red Neck Purdy has rightfully pointed out, [[BIOS]] has broken into that “free air” zone I mentioned in bloggish notes past.   I think it’s good to the $9.50 area in the near-term, fwiw.

Last, for you degenerate gambling types, the double ETF’s [[AGQ]] an [[ERX]] are looking like they are ready to start le bon temps roulletting like a bourbon filled Jeremy Shockey in the House of the Rising Son with Ragin’ and Andy Swan as his parallel-pounding wing-men. 

So hold your gourd, pumpkin eaters, this is seed-spitting time!  

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Update:  For the sadness of All Saints

[youtube:http://www.youtube.com/watch?v=Gvb65dCMjZI 450 300]

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