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Here I am off on a pleasant fishing trip, and some of you are already gnawing your neighbors’ fingers to the third knuckle in white-eyed panic.

Please, sirrah, leave aside your neighbor’s foreleg and listen here.  Have a shrimp cocktail.  Read a pleasant romance novel.  Present your spouse or beloved with a surrepetitous boss upon the lips and pronounce yourself arduous.   But for pity’s sake, let’s not loose our bowels here over a nasty couple of days draw down.

Noted, this speech is not for ye varicose vets who have been with me since we began back in May of ’09.   Most of you wise folke have stacked piles of coin in your garage and pantry to the point of bringing alarm to your neighbors.   Such would be true had you been moderately disciplined, and kept your core close whilst raising cash at opportune times when the rivers were high and the bloodlust roiling.

For those of you new to the scene (and it appears there are new folke popping up all the time on my site), I implore you to take care here.  Do not self immolate.  I would rather you slice, stack and eat 17 bologna sandwiches while you wait for this pullback (one in a long line now) to quiet rather than seeing you sell in a convulsive panic.

In the meantime, my own patience grows thin, and I was even audacious enough to begin adding to my AGQ horde again today.   What of it?  It was only some 20% of my peak shares and it was at $261.80 a share — a good $120.00 off the recent highs!   Might I get some more even lower tomorrow?  I sure hope so.  

I’d better be nimble though, as this thing has come so very far, so very fast.  Remember my silver commodity chart from last night?  Where I’d hoped for a tag of the 50-day EMA?  What haste we’ve made toward that goal just today:

What’s more this fast tracking has given silver’s double ETF — AGQ — a premature visit to the 50-day EMA already.  As a result, I’m not sure AGQ has much left to give here:

Will we hammer that 50-day one more time tomorrow?  Odds on, I’d say it’s likely.  But then again, I was never quick, so I’m just going to take this slowly, and with aplomb.

I also bought back some more EXK today, at $9.89.  I’m back to a 75% position in that stock from my core of 50%.  You see how this works?  It’s a little sloppy, a little messy, but in the end, it makes for great gains.   I also grabbed more AG today, at my early price of $18.01 (again, on a GTC order in place for two weeks now) and later a little more below that in the upper $17’s.  I’m near to a full position in that stock a well, but have one more “lunker bait” order in there in the lower $16’s.  

One gold stock I love, despite it’s recent oxygen robbing action, is ANV.   I’ll let you guess where my orders lie for this one, tomorrow:

Cast your nets upon the waters, friends.   Captain Bernanke has promised many fish, via multiple dynamite stick detonation.  Sure it’s not fair, but should we turn up our noses at free cod?

All the best.

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Brad McLeod, Former Navy SEAL

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If you plan to ride a massive bull, you’d better make sure you’ve got your callous-horned hands fastened tight to the cinch-rope my friend or you are going to get “bucked” like the most worthless of chickens.

Buck-buck-BUCK!

And let’s face it, it’s still all about the buck, and the relative elasticity of it’s deceased kitty carcass as it bangs off sub-$73 levels for a brief fight with gravity, guts askew and a-twirl.  

But despite what I’ve been telling you about silver’s nosebleed status, you still take to sack-cloth and ashes, warning that finally, the Apocalypse is upon us at last, in full penitential glory.  But please, put the cat-0-nine tails away for a second and take a look at where silver really is this evening:

How long do you think that dead cat buck is going to bounce and our silver salient going to fall?  Maybe til next week or so?  Okay then, so let’s make a compact.   This week, we’ll talk about Derby and Oaks horses, because I’ve done almost zero homework on that subject (I’ve been busy), and we’ll just forget about “the life” for a while here, capiche?

Presumably, you have some dry powder ready, as you’ve been “taking some off” the last couple of weeks or so.   Allright then, let’s just wait til we see that RSI lever get to oversold (should be any day now), and then hope to the Jenny Craig Goddess of Skinny Lattes that we get to that 50-day line up there, where we can back up the truck once again.

In the meantime, put some low ball bids in, just for kicks.   Scatter them about.  Today, two of my low (and lower) balls in one stock (EXK)  were picked up in the course of a few scant minutes.   Same went for a low bid on SLW.    Tomorrow, I hope to garner some AGat egregiously low prices, and I may yet throw a “stabber’s bid” at old AGQ back at the sub-$300 level.

You just never know what you might end up with there, Forrest.

God bless, and relax.

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

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Apparently, crack U.S. Special Forces stumbled on JP Morgan’s “lost tonnes” of silver bars whilst cashing in our un-paid receivable with now soundly-dead Osama Bin Hydin’.  This seems the only plausible explanation of the coincident 10% drop in the price of silver last night right as the news of Osama’s involuntary cranial ventilation was breaking. 

Kudo’s to President Barack, by the way, who appears to have begun smoking some of that Bushitlerian war-monger crack and can’t seem to get enough of the rock.   In other stunning news, the vicious San Franciscite anti-war harridans of Code Pink have summarily renamed themselves “Code Ah, It’s Okay,” while long respected gold star mother media queen Cindy Sheehan has unveiled a new website in honor of her President’s recent actions called “If-It’s-Brown-Shoot-It-Down.com.”

Whether or not PETA President Ingrid Newkirk’s newly sponsored Western Kentucky Squirrel Hunt/Democrat Fund Raiser and the Sierra Club’s latest bumper sticker “Yellowstone is for Coal Mining” are further evidence of a sea change in liberal sentiment has yet to be determined.

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Despite silver’s no Chinaman low volume sell-off last night, it appears there’s little changed in the direction of the dollar.  What’s more, it looks like gold isn’t even taking the temporary detour that earl, the CRB and silver took last night upon news of Osama’s fatal lobotomy. 

Now I’ve told you about silver being waaaay over it’s 200-day EMA, and that’s why we were switching our focus to gold for now.   This sell-off, however, may give  you an opportunity to play a couple of broken silver miners.  You know I like SLW and EXK the best (both of whom look to be off at least 5% in pre-market), but I also think AG is “catchable” here, (I still have low bids in on that one) and even AGQ may be a play, if an extremely short term one.   Only mess with that last if you are determined to watch it, because it should be swinging big here this week.  Right now it’s down over 10% in the pre-market, which is too much.

On the golds, I continue to like AAU, RGLD and XG.  Also, watch IVN, which has call sellers betting against it, but which could short squozen at any time.

On another note, it’s Derby Week, so I will be trying to talk a little bit about the ponies for the fans.  Do recognize, however, that this is one of my busiest weeks, so let’s keep the comment section hopping and I’ll try to reply from the Crack wherever I may be.

Best to you all, and Happy Osama is Deceased Day!

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No, not that balding ponce, you tossy sods, but Prince Amukamara, the Big-12 Defensive Player of the Year and 6’0″ 219 lb. (eleven stone!) shut down cornerback out of Nebraska, who was wed to the glorious and never diminishing New York Giants Football organization last evening as their 2011 Number One Draft Choice.

And no, you across-the-pond and Eurostanian wankers, not that commie “football,” either, but rather the real thing, with tackling that is encouraged and smiled upon, rather than rewarded with flimsy red cards from referees with tight shorts and no hats.

And let it be known, that in my capacity as the #1 Giant Fan Financial Blogger in the Known Universe, I bestow my blessing on this union (though perhaps not on the NFL Players Union) as a “good match” and for the Giants organization amplify that description by naming it  “a great catch.”  

You see, this kid was supposed to be a top ten draft pick, and I even saw one mock draft that had him going at #6.   There was a tiny bit of hair on him, I guess, given that he enjoyed 5 interceptions in his junior year whilst garnering zero this year.   That can readily be ascribed to quarterbacks never daring to throw in his direction this year, and his largely acknowledged “shut down” reputation, which connotes that the receivers he guarded never caught anything either.  

All that said, I concur 100% with Giant GM Jerry Reese in his assessment that a good defense can “never have enough pass rushers or quality cornerbacks.”   Let’s face it, thanks to TV machinations and wholesale rule changes designed to boost ratings, the NFL has become a passing game.  Despite that tendency in offensive schemes, the old adage that “Defense wins Superbowls” holds true to this day.  Therefore, marrying the two realities, one can only conclude that having superior athletes that can shut down the passing, either by sacking or air-tight coverage (and one can often lead to the other) imperative.

Therefore, I welcome the Prince (he really is a Prince, allegedly, though I doubt you’ll be seeing his nuptials on the E! Network anytime soon) with open arms and great hopes that he will enter the lists — along with Emlen Tunnel, Spider Lockhart, Mark Haynes and Mark Collins— of great Giant defensive backs from this day henceforth.

So shall it be written, so shall it be done.  Amen.

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As for the PM trades, the dollar appears to be continuing to flag bearishly, so I am continuing to be opportunstic in my “fishing.”  I actually grabbed a starter position in AG yesterday afternoon (announced first in The PPT) at $21.33.   I also opened a speculative position in SLW (to augment my stock position) by again purchasing the June $35.00 calls at a price just a hair below $7.15 a contract.

On the gold side, I continue to like ANV and AAU, the former for its relative strength and the latter for it’s takeover possibilities.

I continue to keep in place my lower bids for EXK, AG and AGQ for “just in case” fishing purposes, but I’m not really expecting to get much of those filled.  Fact is, the dollar continues to look sickly here, and I think any bounces at this point will continue to be of the deceased feline variety.
Best to you all.

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Amazing how quickly everyone is willing to attest to the death of the king, no?  You would think that after ten years now, some would be willing to give this bull the benefit of the doubt.   Instead, we’ve got closet morticians coming out of the woodwork and stretching their yellow tape measures in anticipation of parsing out a pine coffin.

I say, “not so fast, dealers in embalming juice.”  Who gave you leave to drag out these corpses, anyway?   A quick once-over with the infrared scope will tell you they are merely sleeping.  What’s more, a more practiced eye will tell you when to climb back on their dorsal fins and flukes, ready to ride the great beasts to glory.   And yes, I have some suggestions…

The first–XG — may be ready right now.   By the bright scimitar of Kirby Puckett, it is my #1 pick a the moment, despite Jeremy and Fly’s steady refusal to feature it in The PPT.  No matter, just look at the fight in this young monster:

As you may note, that recovery candle could very well signify that XG is back and off to the races.  My next two are not yet as ready, but in my mind offer some very appetizing entry possibilities in coming days.   As they are crowd favourites (sic), you should feel favoured (sic):

Here is a stock– AG —  that was trading over $27 in the most remarkable bull of the 21st century.   And you might be able to get it at almost a 30% discount?  Remember to give alms if you are so favoured, sir.

Last, is our lovely grandmama, RGLD, which may allow us entry into her cookie pantry at a most opportune price.  Be on your best behaviour (sic) and she may deliver you a choice Tollhouse, or three:

Consider these next few days a rolling Christmas Eve for gimlet-eyed adults.   Just remember to stay off the rum toddies so you’re not caught nodding.

Best to you all.

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Don’t Bungle the Burgle, Bilbo!

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Silver is quickening again and the dollar is drooping…

I remain, however, unconvinced that this was the only shaking we are going to get.   Attend to me now.  I do not recommend selling anything more in egregious fashion.  Your selling should be all but done, as mine is, unless you’ve got an IRS-man’s butcher bill to pay this Friday, which I certainly do.  In that case, you are forgiven for converting more silver-gold shekels into dirty unwashed lettuce.

The question remains, however, should we be buying again here?   Is the coast clear?  I’m sorry but I cannot warrant it.  Things seem a bit too quiet if you know what I mean.   And the symmetry of the cycles argues for a more pronounced drop in some of our more parabolic names…  Take EXK for example:

Yes, we opened up above that green line, and even managed to stay above it, despite the lower closing black candle.  But such a weakling day bodes ill for the future, even with a strengthening silver price. No, the clockwork of the universe demands a finer symmetry, and I believe that means we move to at least our 20-day EMA, which, in flattening, may bring us to our rising support line in the  $10.00-10.50 area. 

The feasting will be sweet there.

And there is another treasure I seek, with my arrows aimed at lower levels than we achieved today.  That valued asset would be the damned elusive AG — which has plagued me since the mid-teens when I first laid traps to ensnare it.   I’ve never owned it… preferring instead to hunt it with stealth at various tepid water-holes.   Only raising my poisoned blow gun once… twice…. and now again:

Now this stock in particular is known for showing me the fool (as I haven’t caught it yet), and it very well could be showing a significant reversal here today from which it will never turn back.   I’m just not sure of it, given the state of the dollar (seeking a rebound soon, I think) and the relative torpor recently evidenced in the price of gold.

My price is a little above the 50-day EMA on this one.   I hope to snare some, but if not, God speed, and happy burgling.

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