Tonight is French Night on iBC, as ably demonstrated by Le Fly, who’s been buzzing around the streets and back alleys of Brooklyn on a moped, wearing a mime outfit and carrying hardened assault baguettes with which he has been smacking passing bearshitters.

As a consequence, our entertainment tonight will be of the French variety.  Someone sent me this following vid … some fan I guess (of the girl, not me).  I was intrigued, given the alleged huge popularity of this young woman over in Francais-land.  

Putting my French prejudices aside (as always), I look at this vid and I say — “what the hell is wrong with these people?”

I mean… haven’t they ever seen a Madonna video?  A far more hideous woman, from Michigan no-less, and yet, she makes for a far more entertaining spectacle, what with her sweaty dance kicks and conical breastusses-plates and all.  

Watching this piece, one is compelled to ask — what brilliant choreographer designed the 18-inch diameter dancing circle this young nymphette was forced to remain within?  And, was it John Travolta who taught her the “hand jive” she’s so desperately working here… maybe less to the music and more to the invisible flames engulfing her hands? 

Get this woman an L.A. talent agent, post-haste!    (Anton, I am suggesting you apply.)

And will someone… someone please insert a decent “Yo, Adrian!” at approximately 3:57 of this piece?   Thank you.

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

_____________

As for the market today, we saw some winship and we saw some consolidation.   As a consequence, I think [[TBT]] is ready to go north tomorrow after a nice pullback today.   [[BAA]] was a glorious win of many flying colors, and I don’t think it’s done yet.   I still like Allied Nevada Gold Corp. [[ANV]] and [[EXK]] .   If I had to have a favourite (sic) Jackson tomorrow, besides TBT, it would likely be Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] — pray for a pullback on the latter.   Eldorado Gold Corporation (USA) [[EGO]] should also be examined closely.

That’s all for tonight.   Wait, there’s one more before I forget… Corriente Resources Inc. [[ETQ]] has popped on my radar, and will likely get some follow through tomorrow.    Also, I added 2k more [[BIOS]] — if you get anything this year, break off a little bit for this consistently stair stepping winner.

Best to you and I will try to continue to update you tomorrow.

Name/		%		%		Portfolio	Portfolio
Ticker	15-Jul	Change	16-Jul	Change		Value	Impact		Comments
ANDE	$     29.20		$      29.30	0.34%		$        8,847	0.02%		Could follow up w. the MOS & POT wins
EGO	9.05		9.20	1.66%		$        8,620	0.09%		Like to see it get above $9.50 here
GDX	38.29		38.33	0.10%		$      11,601	0.01%		50 day at 39.07,  might get resistance there.
GLD	92.24		91.98	-0.28%		$      10,578	-0.02%		Held up at the 50 day (92.08)
IAG	9.99		10.05	0.60%		$      12,392	0.04%		Closed over the fifty day
MON	76.46		75.74	-0.94%		$        4,442	-0.03%		Got the pullback we expected, to the 50day
NRP	22.27		22.89	2.78%		$        4,751	0.08%		All of a sudden looking strong.
PAAS	19.30		19.12	-0.93%		$      11,483	-0.06%		Closed over the fifty day, $20 the test now
RGLD	40.51		40.59	0.20%		$      11,216	0.01%		Still under 20 & 50 day.
SLV	13.06		13.09	0.23%		$      10,634	0.01%		POS consolidating here
SLW	8.41		8.39	-0.24%		$        8,150	-0.01%		Consolidating
SSRI	18.62		18.76	0.75%		$      10,913	0.05%		Needs back over $19.
TBT	53.19		52.00	-2.24%		$      10,359	-0.14%		Will likely buy tomorrow on this pullback
TC	11.61		11.81	1.72%		$        5,540	0.06%		Getting ready to crank one out
TCK	18.46		20.03	8.50%		$      13,318	0.68%		JUST BTFO.  Likely consolidate now.
TZA	21.28		20.35	-4.37%		$        4,100	-0.11%		Prolly get some strength tomorrow
Cash (000)	$      0.00		$    26.42	0.01%		26,420.79	0.00%		Same
AVG (daily)				0.46%		$ 173,365	0.68%
AVG (monthly)				2.78%		Actual
AVG (inception)				16.09%		Return	15.58%

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This is a far shortened version of the post I wrote last night that got eaten by WordPress, curse their bones. Apparently, not even the autosave was working last night.

In summary, yesterday was a bag full of fruity jelly beans and bottle rockets. The three I told you to watch — Thompson Creek Metals Company, Inc. [[TC]] , Teck Cominco Limited (USA) [[TCK]] and [[TBT]] were up some 8+%, 7+% and 5+%. They are still all buys here.

The silvers shocked me, many of them heading back over all the moving averages they had fallen below. But then silver always makes violent moves — it’s the Al Capone of the precious metal world. The silver Jacksons did well, with Silver Wheaton Corp. (USA) [[SLW]] — my favourite (sic) — doing the best at over 6% up, but in the personal holdings, non-Jackson junior [[EXK]] was the superstar, up over 14.2%.

I expect all the metals to have pullbacks today after yesterday, but I don’t think this was a headfake, either. I think the inflation numbers are starting to percolate. Remain cautious, but be sure to continue accumulating and filling out your well diversified list of juniors. These are lotto tickets (witness [[BAA]] as of late) and you just never know when they will come in. Another great example is Golden Star Resources Ltd. (USA) [[GSS]] , hat tip to whomever reminded me of them again yesterday.

Gun to my head picks today include Allied Nevada Gold Corp. [[ANV]], [[BAA]]  and more Thompson Creek Metals Company, Inc. [[TC]] . I will seek to start getting rid of my [[TZA]] today as well on any strength. Cash is starting to slow down the portfolio performance, as you can note from the relative performance numbers below. Have a great day.

Name/		%		%	Portfolio	Portfolio
Ticker	14-Jul	Change	15-Jul	Change	Value	Impact		Comments
ANDE	$      27.97		$         29.20	4.40%	$           8,816	0.23%		Winship
EGO	8.71		9.05	3.90%	$           8,480	0.20%		Ditto
GDX	36.76		38.29	4.16%	$         11,589	0.29%		$HUI bounce told the tale, to $43?
GLD	90.81		92.24	1.57%	$         10,608	0.10%		Above all the MA’s again, looks good
IAG	9.65		9.99	3.52%	$         12,318	0.26%		Winship
MON	74.70		76.46	2.36%	$           4,484	0.06%		A little overbought now, expect pullback
NRP	21.34		22.27	4.36%	$           4,622	0.12%		Decent volume move but now overbought
PAAS	18.24		19.30	5.81%	$         11,592	0.40%		Broke DT, back above consolidation zone
RGLD	39.54		40.51	2.45%	$         11,194	0.16%		Back over 200 day looking good
SLV	12.72		13.06	2.69%	$         10,609	0.17%		Nice one day move, POS = 13.33
SLW	7.88		8.41	6.73%	$           8,169	0.33%		Above downtrends now
SSRI	17.93		18.62	3.85%	$         10,832	0.25%		In consolidation zone, below all MA’s
TBT	50.63		53.19	5.06%	$         10,596	0.32%		Winship
TC	10.72		11.61	8.30%	$           5,446	0.27%		Extraordinary winship
TCK	17.15		18.46	7.64%	$         12,274	0.56%		Winship
TZA	23.99		21.28	-11.30%	$           4,287	-0.29%		Will ditch on break of $20, or sooner
Cash (000)	$       0.03		$       26.42	0.01%	26,420.79	0.00%		Same
AVG (daily)				3.27%	$     172,337	3.45%
AVG (monthly)				2.21%	Actual
AVG (inception)				15.35%	Return	14.89%

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I think there’s some good news in the commodity sector.  I still don’t trust the silvers yet (under 200 day MA’s still)though I’m holding every last one.   I like Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] here a lot.   Monsanto Company [[MON]] is still sick, but [[TBT]] may be a purchase tomorrow as well.

I’ve been running myself ragged here, so the joozy picks will have to wait for tomorrow, but I’ve some nice looking juniors– NovaGold Resources Inc. (USA) [[NG]] , Northgate Minerals Corporation (USA) [[NXG]] , New Gold Inc. (USA) [[NGD]] and [[BAA]] — that I think will be worth your while.   [[BIOS]] should also be bot with all due prejudice. 

Let’s see what Intel Corporation [[INTC]] does for us here, too tomorrow.   But the best news would be for the Obamarxist’s socialized medicine plan to get shot down.  The Obamanists  say they’ll do it even without any GOP votes at all — which is hubris beyond all understanding, and political risk,  if one is a thinking prudent Dem.   I just don’t see that happening on such a third rail issue as the destruction of our innovative and life-saving  modern health care system.   They haven’t all swallowed the kool-aid down in Jonestown yet.

So there’s hope, which may give a boost to this market that means more than fat tech earnings.   More talk of juniors and such tomorrow.  Jacksons commentary below.   Best to you all.

Name/			%	Portfolio	Portfolio
Ticker	13-Jul	14-Jul	Change	Value	Impact		Comments
ANDE	$        27.37	$     27.97	2.19%	$        8,445.05	0.11%		Got an oversold rebound
EGO	8.47	8.71	2.83%	8,161.27	0.14%		Closed just above 20&50 day (8.69)
GDX	35.93	36.76	2.31%	11,125.91	0.15%		$HUI Bounce trade working nicely here
GLD	90.19	90.81	0.69%	10,443.93	0.04%		approaching 20 day @ $91.11
IAG	9.32	9.65	3.54%	11,898.89	0.25%		Closed over 50 day ($9.61)
MON	73.55	74.70	1.56%	4,381.23	0.04%		Held over $70, approaching 20 day ($75.61)
NRP	21.37	21.34	-0.14%	4,429.22	0.00%		Back over 20 day, 50 day @ 21.95
PAAS	17.99	18.24	1.39%	10,954.95	0.09%		Needs to get over $19 to break DT
RGLD	39.32	39.54	0.56%	10,925.67	0.04%		Still under 200 day @ 39.68
SLV	12.66	12.72	0.46%	10,331.44	0.03%		Still bouncing off 200 wk MA,  as noted
SLW	7.68	7.88	2.60%	7,654.13	0.12%		Still well under all MA’s
SSRI	17.73	17.93	1.13%	10,430.48	0.07%		In consolidation zone, below all MA’s
TBT	49.02	50.63	3.28%	10,085.66	0.20%		Breaking downtrend today, may get more
TC	10.20	10.72	5.10%	5,028.86	0.15%		Launching again, may be back in tomorrow
TCK	16.47	17.15	4.13%	11,402.93	0.28%		Above all the MA’s again, looks good
TZA	24.45	23.99	-1.88%	4,832.81	-0.05%		Fading, but holding hedge
Cash (000)	$         0.03	$    26.42	0.01%	26,420.79	0.00%		Same
AVG (daily)			1.75%	$ 166,953.22	1.66%
AVG (monthly)			-1.00%	Actual
AVG (inception)			11.22%	Return	11.30%

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There’s no discounting the genius of Andrew Lloyd Webber, no matter how much you may disdain the theatre (sic) and the Broadway musical genre in particular.   Let’s face it, the guy’s first real hit was a modernistic pop re-working of  a story from Genesis for goodness sake, and no, spratlings, I don’t mean a Phil Collins biopic.  You have to admit — that’s not exactly got “sure fire hit” written on it when you see it on cold, flat paper.   But that strange beginning launched the man’s career, and now he’s widely considered the best living writer for the musical stage, with hits like Jesus Christ Superstar, Evita, Phantom of the Opera, Sunset Boulevard and yes, even Cats under his belt.

The reason  I bring this all up, oddly enough, is that I was dragged to a community theatre (sic) production of Webber’s Joseph and The Amazing Technicolor Dreamcoat this weekend where my niece was starring as a children’s chorus extra.  And oddly enough, it was fantastic.  I was thoroughly entertained. I guess that’s how I guage the worth of the intellectual property — if it’s still damn good after the semi-pros get though with it, then it must be some heady stuff. 

And I am no big fan of the Broadway stuff, either.  I lived in New York for years, but I had to be dragged to every “real” show, just like I had to be dragged to this one.   Go figure that I’d never been to a Lloyd Webber show even in the Apple.  Next time, I won’t be so reluctant.

_______________________

Another thing I haven’t been reluctant about is buying silver like the last man standing on two legs at a lycanthrope convention.    This 5-year weekly chart shows why:

As you can see, we’re within a hair’s breadth of the 200 week EMA, which as served as solid support through most of this bull in precious metals (save for the brief period of unpleasantness last Fall).

What’s more, we are very oversold on the slow stochastic, to a point we have not seen since the last time the PM bull was tested, back in 2006. Even more oversold than we showed in the depths of the Fall sell-off in almost every major asset!

I believe this is significant (even as MACD and RSI are not nearly as oversold), if at least for a bounce, and have put my money where my mouth is and bot some more [[AGQ]] as of Friday. I have room for 1,000 more shares, should silver decide to test that high $11 range again. This week’s increase in the Blees Rating (out of 100) to 72 from the previous week’s 66 tells me that commodity traders are taking off their short hedges once again, and readying for strength in the PM’s.

As I mentioned, I think that gold may also visit the $880-$890 range again, and I will be adding to select junior positions if we should be so lucky. Those of you who have not done so may want to take any opportunity to accumulate some physical (again, I like those Maple Leafs) under $900. I may do so myself.

Also, amazingly enough, [SLW] filled a gap that was formed back in March (20th-21st) when it was blasting off out of a consolidation pattern. All of it’s oversold indicators seem to be turning back up, save MACD.

Last, have look at Monsanto Company [[MON]] which is also ridiculously oversold on the weekly slow stochs, and is just a little bit beneath is’t 200 week EMA — the place where it’s been bouncing for the past year, including last Fall and this March. I think this might be a good place to accumulate with a tight-ish stop below the March lows ($69-ish).

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  [youtube:http://www.youtube.com/watch?v=82Wc92bFiZk 450 300] 

My apologies for being so scarce this week.  You heard about the Dylan concert and all that, but perhaps you didn’t know I had relations in all week.  There were relations activities to attend to, the Dylan concert being one of the more pleasant.   Others not as much, but obligatory.  So it goes.

In any case, I sit before you with a down port in a flaccid market.   And yet, I’m serene.  Why is that?  Well, to be honest, its because I”ve been riding this same wave since 2001 and frankly, it’s a familiar poise.   Since that time, it’s never hurt me to buy on pullbacks, no matter how egregious.   With that in mind, I copped another 1k of [[AGQ]] today at $34.95, with the mind that I will get even more if it drops again.  I think silver is just peachy.

Call me psycho.   I can take it.    I own silver at $4.50/oz. and gold at under $300/oz.   Does that give me extra confidence? 

You bet your ass it does.   

 More on the Jackson update as the weekend commences.

_______________________

 UPDATE:  It’s a horror show, but on the bright side, I built more cash up.

Name/			%	Portfolio	Portfolio
Ticker	9-Jul	10-Jul	Change	Value	Impact		Comments
ANDE	$        28.89	$           27.86	-3.57%	$         8,411.84	-0.18%		Sold 1/2 on break of $28.90 (8,725.60)
EGO	8.10	8.27	2.10%	7,748.99	0.10%		Bounced close to 200 day ($7.85)
GDX	35.31	35.14	-0.48%	10,635.59	-0.03%		200 day MA is $32 ish
GLD	89.51	89.58	0.08%	10,302.47	0.00%		200 day = $88.26
IAG	9.22	9.10	-1.30%	11,220.72	-0.09%		Back at the top of the consolidation zone
MON	72.56	71.34	-1.68%	4,184.16	-0.04%		Needs to hold above $70- but oversold
NRP	20.40	20.63	1.13%	4,281.86	0.03%		Needs to hold above $20
PAAS	17.16	17.29	0.76%	10,384.38	0.05%		Some firming past two days.
RGLD	38.50	38.98	1.25%	10,770.93	0.08%		Tapped $38 twice this week, closed up.
SLV	12.67	12.50	-1.34%	10,154.35	-0.08%		I bot 1k more AGQ at 34.95 on Friday
SLW	7.44	7.46	0.27%	7,246.17	0.01%		Approaching oversold on the weekly
SSRI	17.46	16.94	-2.98%	9,854.57	-0.18%		Could go to $15, even, watching.
TBT	49.45	48.41	-2.10%	9,643.43	-0.12%		Next major support @ $46, if no hold here
TC	10.01	9.79	-2.20%	4,592.58	-0.06%		Could target 50 day ($9.11)
TCK	15.84	15.46	-2.40%	10,279.25	-0.15%		200 day @ 14.78
TZA	26.67	26.28	-1.46%	5,294.13	-0.05%		May add to this next week, with cash
Cash (000)	$       26.42	$         26.42	0.01%	26,420.79	0.00%		Increased $8,725.60 on half sale of ANDE
AVG (daily)			-0.82%	$  161,426.21	-0.70%
AVG (monthly)			-4.34%	Actual
AVG (inception)			7.10%	Return	7.62%

Comments »

 

Sorry I haven’t been around to post pictures of ugly food, but I had to blow out of here real early tonight, as Bob Dylan and his Merry Band, along with Willie Nelson and John Commie Mellancamp were in town for a great five plus hours of rock & roll.  They were uniformly good, and Dylan was border line great tonight.   Pretty impressive for a 68 year old dude, living legend that he may be.

Willie is 76 which is just freaking incredible, given that he sounds exactly like he does on the radio.   Even John Commie Melons was pretty spry at 58.  Still, they could’ve dropped him from the team and not have had such an odd mix of iconic greats with aging boy popstar.   It makes one wonder — who will Bob tour with next, Vanilla Ice?

Because I just got back, and because I’m out all day tomorrow, there won’t be a Jacksonian Summary today.  Looking over the list, it’s a pottage of offal.  Down almost 3% today, with our money padrones, both gold (price $911.70/oz.) and silver (price $12.90/oz. ) getting beaten up in a summary back alley fashion, purportedly by Treasury Bond Salesman bearing Snidely Whiplash moustaches.

IAMGOLD Corporation (USA) [[IAG]] was the worst of the lot, down over 8%.  I think that means we get a bounce tomorrow, given that there’s strong support at $9.00 (where we bounced today, btw).    I do think that the price of gold goes to $890 or so, here and that the miners are preceding that move.  

 Again, those of you who are lucky enough not to have a full position should be taking this opportunity to add at least some IAG here.   Yeah, we might see lower prices, but not three months from now.    This is stock that I believe will see at least $15 before the year is out, which is a 66% move from here.

The same can be said for Eldorado Gold Corporation (USA) [[EGO]] , Silver Standard Resources Inc. (USA) [[SSRI]] and Silver Wheaton Corp. (USA) [[SLW]] , all bludgeoned today as well.   Again, nibble with a sidelong glance for the great cat named Treasury, but nibble nonetheless.   You shall soon bell that cat.

I expect we’ll get something of a bounce tomorrow — in almost everything — but again would not be surprised if there is some follow through drubbing on some of these, including even [[TBT]] .   I will be out, but may take the opportunity to dial in some more [[TZA]] on a rise tomorrow, just to continue hedging these summer doldrums.

Non-PM Teck Cominco Limited (USA) [[TCK]] got whacked today too, but I think we may get a bounce tomorrow thanks to our friends at Alcoa Inc. [[AA]] .

On my recent non-Jacksonians, [[BIOS]] can easily get back to $5.25 (its 20-day) and Health Grades, Inc. [[HGRD]] still looks very strong here.   Healthcare seems to be a continuing “safe haven” in this period.   Checkout Amgen, Inc. [[AMGN]] for reference.

_________________

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