[youtube:http://www.youtube.com/watch?v=W0qlOEKkBWA 450 300]

I was just off reading some other blogs and I’m finding that there’s quite a bit of misery out there.  You might imagine from where that misery stems, if you are wont to read more “misery oriented” blogs than this one.

In one particular meloncholy review,  I even started to feel sorry for my friend Tim, The Enchanter.   He’s a little bit down in the jowls these days because the world hasn’t fallen off a cliff as properly prescribed quite yet.   It’s a monetary phenomenon, I says.  It’s a conspiracy of Owls and black flutes, he says.   Whatever.

I’m here for some solace for the bearish and perhaps an idea or two.   My friends, we are coming to an exciting time of year and I hope you will bear with me.  September, you see, is a traditional crap pile for all that is Equity.   Something to do with the Medieval harvest payments, or the rise of the Mayan Moon, but it’s always been our worst month for stocks since your grandmother can remember.  That should make some of our Ursines, happy, no?

The good news for we Jacksons is that August comes before it, and August marks the start of the precious metal bull season on into it’s tumescent end in Happy Claus.  In other words, it’s a good idea to buy gold and silver here in Jewelry’s Worst Month because it only gets better as everyone picks out their silver pumpkins brooches, gold encrusted turkey lame dresses and platinum filigreed Christmas chokers in the coming crispiness.

And don’t even get me started about back to school.  

Let’s have a look at our friend Baby Huey ($HUI) shall we ?  Here’s a triangle you’re going to love by next month:

You’ll note we’ll be “do or die” by mid-September.  Want to make a wager on whether we break out before then? 

Now a specific pick that I really like, and have for a while, Non-Jackson though it may be.   Here’s the old chart of New Gold Inc. (USA) [[NGD]] I gave you back on May 21st, 2009:

Now here we are three months and 45.5% higher at $3.49, but don’t thank me just yet.   I think we’re getting ready to rock the Casbah in an unctious and lugubrious manner.  Checkout what chart analysis number two brings forth:

Yeah, it’s pulled back a little on Friday, but that may mark your opportunity.  Frankly, I’d be surprised if  they bludgeoned this little junior miss back to $3.25, but if “they” did, that would be a magnificent place to throw in an order.   I know I will be looking to add here on Monday, or maybe Tuesday if we do get  second day of pullback, and I will keep you updated.  

These juniors can really move with this gold bull, so make sure you keep an eye on Rubicon Minerals Corp. (USA) [[RBY]] , Allied Nevada Gold Corp. [[ANV]] , [[BAA]] and their brethren, even as you line your portfolio with sturdy Jacksons for the coming Fall (possible pun intended). 

Best to you all.

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It’s 1:50 PM and I see [[UUP]] banging up against the downtrend line and fully expect it to turnover here right now.

Target $23.05. Good time to grab some of your favorite options play for quick snicker-snack of your Vorpel blade.

“Abort! Abort! Abort!” signal is upon a break of our aformentioned $23.28 to the northside.

I am looking at [[PAAS]] , Silver Standard Resources Inc. (USA) [[SSRI]] , Silver Wheaton Corp. (USA) [[SLW]] , and [[GDX]] .

Caution: Follow me at your own risk, and make sure you Wait for the rollover!

Best to you, Jake out.

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UPDATE:  Bot 50 Sept $34 calls on GDX @ $5.60 .   Caveat: If you follow me into GDX you may contract “Midas Touch Syndrome” and end up turning your favourite (sic) poocho into a very valuable knick knack, and you may lose money too.

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(Fed Chairman at Work)
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Let’s not get overexcited about such things as green shoots and bamboo leaves, shall we? Don’t get me wrong, I’m still not convinced this whole basket of cats in not going to just roll over and die here anyway, but what’s going on in the market has almost nothing to do with visions of recovery and everything to do with the continuing decline of the dollar.

Let me tell you, I’ve seen ugly charts for UUP before, but this might be one of the uglier, in terms of the sharp declines taken by the oscillators, that I’ve seen in a while. This tells me that the Fed and our trading allies know that credit is tightening again, and that the dollar spigot will be awash to get us through the tight September months again. Check it out:

Look at that accumulation/distribution line… what the heck? In any case, my first “back to work” market thesis reminder should be a familiar one — this is no time to get shaken out of your precious metal, hard commodity positions.

I also believe U.S. company buyouts will increase as our weaker currency provides better values for our overseas (and cross border) friends, especially those countries who specialize in commodity provision, like Canuckistan and Oz. China, of course, will also be a player, and she has shown she’ll be a willing buyer of commodity assets.

Hold tight, and watch that double bottom target area as marked on the daily UUP chart. Cheers and thanks for your patience.

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Today was a bit of a crapola day, no denying, with “Most Favoured (sic) Jacksons” The Andersons, Inc. [[ANDE]] and Teck Cominco Limited (USA) [[TCK]] taking a severe frond thrashing to the buttocks, and most favoured (sic) silver stock Silver Wheaton Corp. (USA) [[SLW]] feeling the pain as well (among others).

However, for balance, my giant Eldorado Gold Corporation (USA) [[EGO]] is breaking the futz out, again!  Since this Jackson has been a laggard for a while, it gives me some hope for the whole group of PM’s in the Jackson Portfolio.  And believe me I need some surcease after being gutshot with a double barrel full of salt-rime this afternoon by my top two reliables and my “reliable laggard” Natural Resource Partners LP [[NRP]] –which I truly am beginning to tire of. 

Fat dividend or not, NRP may soon go the way of Tesoro Corporation [[TSO]] and onto the charnel heap if it does not get its act together soon.  

But on to sweeter things.   Two Jacksons are showing great promise, EGO being one, as mentioned — and look at this bust out chart:

And the weekly show even more clearly the significance of the breakout into the “free air” territory:

Is it overbought?  Sure, a little.   But so was The St. Joe Company [[JOE]] yesterday, and that sucker kept steamrolling today.  Ours not to reason why, Jacksons….

But let me show you one more that may turn out to be the best gold stock in the Jackson Portfolio (I’ve felt that way for a while now).   Look at how IAMGOLD Corporation (USA) [[IAG]] is setting up here.   This may be the one you really want to look at for tomorrow:

As the chart says, a break of $11.51 on volume will tell the tale.   Happy Hunting Jacksons.

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Last I saw him he was running around, all ass & tail, gunning down shots of Don Julio and screaming “New Lows in July, damnit!!”  

But here it is August, and the only lows I’m seeing are the catatonic stair steps of [[UUP]] as it heads to its crypt in the basement.  Remember my post about the “noise zone” from the other day?  Here’s our result:

Looks like $23 is the make or break area, here.   If we get there, I think we get at least a bounce.   Would not shock me to see further deterioration after that.

Again, that means good things for our PM and Jacksonian buddies, and they all rallied today, with the overall portfolio up 3.23% today and now breaking to new highs since our May 1st inception, with a return to date of 26.62%.   My only regret is that I didn’t put more cash to work last week when I upped my Monsanto Company [[MON]] and Thompson Creek Metals Company, Inc. [[TC]] holdings back to their former strengths.  

Another interesting note — while Mr. Anderson — The Andersons, Inc. [[ANDE]] remains my top performer with a 92.81% return since May 1st launch, my second chasing close on his heels is also my newest pick Teck Cominco Limited (USA) [[TCK]] which is up an astonishing 88.76% since first purchase back on June 16th at $15.04.    Most of the PM’s are in the 20’s percentile range (still off their June highs, mind you) with IAMGOLD Corporation (USA) [[IAG]] leading that pack, up 32.06%.

The one Jacksonian clunker (for which I receive a large “cash” dividend) is Natural Resource Partners LP [[NRP]] , at a negative (4.11%).   I will consider NRP’s inclusion in the ongoing list, unless it’s laggard status improves.

As for the best of the Jackson’s currently, the silvers seem to be standing out nicely, with my favourite (sic) Silver Wheaton Corp. (USA) [[SLW]] breaking out past it’s 61.8% fib, and looking to continue here to resistance in the near term at $11.00 or so.   I of course will hold onto it until the bonds of time are loosed.   Silver Standard Resources Inc. (USA) [[SSRI]] also looks extremely strong here, with another breakaway gap, up over 6% today like SLW.  [[PAAS]] was only up over 5% today, but is exhibiting the same tendencies.  

Last, non-Jackson junior silver [[EXK]] was also very strong today, with a nice volume spike and also gapping up over resistance. levels.   It seems to be heading to it’s recent highs ($2.40) , and I’d say that’s going to come quickly.   My analysis is that the Central banks were so busy suppressing gold today that they forgot about her little brother, and the beach ball popped above the water for all to see….

Onto the non-Jackson golds–  I still like Allied Nevada Gold Corp. [[ANV]] , which is becoming almost Jacksonian in its stately and dignified rise here.   Take a look at it’s weekly chart when you get a chance — it’s a thing of beauty.   As mentioned in my comments section, [[BAA]] broke da Flummox out today over the $2.14 barrier I had mentioned in my chart the other day, and Ivanhoe Mines Ltd. (USA) [[IVN]] is looking to move higher.  I also still like Golden Star Resources Ltd. (USA) [[GSS]],  even though it’s rise was crippled by the Curse of DMG early this morning.  

On the non PM front, I still very much like Mirant Corporation [[MIR]] — which also has A and B warrants, if you are interested in that type of thing.   I also applaud any of you that took my [[CNXT]] breakout signal chart from the other day to heart.  I think they’ll be more there, btw.  

 That should be enough for you to digest for now, but check in my comments section tomorrow for trading updates.   Best to you all.

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Not to get overly full of it (hah! me?), but the Jacksons are close to annual highs again.   What’s interesting is that most of the recent runup last week occurred on Friday, when the dollar took a significant downturn.   Now whether or not this is going to be a headfake or not should be apparent very quickly, I believe.

The only thing that gives me some pause is the [[TLT]] runup here.  I just can’t believe that lower discount won’t get a snapback here soon, and with it another pullback in the market.  Right now I continue to believe the  [[UUP]] will continue to weaken and $USD will head to its lows of $71 again.   

No need to mention, if the dollar does continue it’s retrace to the lows, the Jacksons and the other precious metals will continue to soar here.  As usual, I like the silvers, but of the non-Jacksons, Golden Star Resources Ltd. (USA) [[GSS]] is the “most ready,” and Allied Nevada Gold Corp. [[ANV]] , [[BAA]] , and Ivanhoe Mines Ltd. (USA) [[IVN]] look tastiest on the gold junior side.

Happy hunting this week. 
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Name/		%		%		Portfolio	Portfolio
Ticker	24-Jul	Change	31-Jul	Change		Value	Impact		Comments
ANDE	$       30.99		$      32.22	3.97%		$       9,728	0.23%		Over $32 new highs!  Bounced off 20-day
EGO	9.27		10.00	7.87%		$       9,370	0.44%		Huge day on Friday, should cont.
GDX	39.90		39.77	-0.34%		$     12,035	-0.02%		Another big hop on Friday.
GLD	93.41		93.35	-0.06%		$     10,736	0.00%		Lifting off  20 and 50 day here.
IAG	11.11		10.56	-4.95%		$     13,021	-0.39%		Also lifting off 20 & 50 day.
MON	84.16		84.00	-0.19%		$     13,327	-0.02%		Over 200 day still.
NRP	23.00		23.45	1.96%		$       4,867	0.06%		200 day @ 23.70, bo @ $24
PAAS	19.68		19.71	0.15%		$     11,838	0.01%		Launching through 20/50/200
RGLD	41.78		41.08	-1.68%		$     11,351	-0.11%		Above 200, testing 50 day
SLV	13.66		13.70	0.29%		$     11,129	0.02%		Also launched Friday, big move
SLW	9.23		9.18	-0.54%		$       8,917	-0.03%		Over 20/50/200 again.
SSRI	20.08		19.67	-2.04%		$     11,443	-0.14%		Over 20/50/200 again.
TBT	53.19		49.43	-7.07%		$       9,847	-0.42%		$48 looks likely
TC	14.75		14.55	-1.36%		$     11,976	-0.10%		Coming out of pullback here.
TCK	24.49		26.29	7.35%		$     17,480	0.77%		Just a monster.
Cash (000)	$     16.89		$    16.89	0.01%		$   16,891	0.00%		Same as last week no new buy/sells
AVG (weekly)				0.20%		$ 183,957	0.30%
AVG (monthly)				9.85%		Actual
AVG (inception)				23.07%		Return	22.64%

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