—-  Back Among Friends —

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C’mon, you know I couldn’t resist a low hanging curve like this one.    But enough about the not-so-mourned paedophile (sic), as it looks like the real Jacksons are breaking out again.  Even with the modified [[TZA]] hedge position, I still came away with a righteous 2.73% up day yesterday for the JCHP.

And that’s not including the sundry “side-bets” I made courtesy of the Chart Addict Casino and Burlesque Review.    I try not to play long there, as it can be “addicting.” 

Yesterday, while the site was down, I played around a little with the Jacksonian Portfolio Presentation again, and while I don’t think I will reveal the actual stock holdings every day, I thought the additional information below might be helpful for you to understand how I am trading within the portfolio to harvest gains and manage risk.   So today, I’ve done away with the “comments” portion in order to show you the actual holdings as of yesterday. 

As a point of clarification, the only change I made yesterday was to sell one half the TZA hedge position at $23.67, taking a little over a dollar loss on 201 shares (I still hold the remaining half).     That left me with a bit over $13,440 in cash in the position.  For the purposes of the weighting, I have cash sitting at an annual return of 2.5%.  

As you will see it was an amazing day yesterday, as silver cleared $14.00 and gold held steady as well, pushing the $940 area (we are flirting with that price again today, despite the rest of the market being down).   I think the miners will likely take a rest today and we may even be in for more consolidation.  The trick is not to get impatient here, and to manage your positions for the next major cycle turn. 

For today, continue to keep an eye on the junior miners, including Jacksonian Eldorado Gold Corporation (USA) [[EGO]] , and non-Jacksonians NovaGold Resources Inc. (USA) [[NG]] , New Gold Inc. (USA) [[NGD]] , Northgate Minerals Corporation (USA) [[NXG]] , Allied Nevada Gold Corp. [[ANV]] , Aurizon Mines Ltd.(USA) [[AZK]] and maybe most important, Rubicon Minerals Corp. (USA) [[RBY]] .  This should be a consolidation day for all of those, so shop with “moth hands.”

As for silvers, they are all strong relative to the market today as the underlying metal is making a nice return over $14 here.  Keep an eye on micro-junior [[EXK]] for action, and also [[CDE]] which seems to be a day ahead of its brethren, and may have a consolidation day today as well.

As for the non-PM’s… I continue to like Teck Cominco Limited (USA) [[TCK]] here, and good old Jacksonian Thompson Creek Metals Company, Inc. [[TC]] might run into trouble again at its 38.2% fib retrace at $10.88.   More in updates to come…

Jacksonian Core Holdings with Cash & Stock Weightings

Name/					Position’s	Number of	Percentage	Weighted
Ticker	24-Jun	25-Jun	% Change		Port Value	Shares	of Port	return
ANDE	$        28.84	$ 29.95	3.85%		$   18,085.75	603.86	10.34%	0.40%
EGO	8.51	9.39	10.34%		8,798.43	937.00	5.03%	0.52%
GDX	38.49	39.99	3.90%		12,103.51	302.66	6.92%	0.27%
GLD	91.45	92.31	0.94%		10,616.44	115.01	6.07%	0.06%
IAG	9.99	10.58	5.91%		13,045.62	1,233.05	7.46%	0.44%
MON	76.16	75.66	-0.66%		4,437.53	58.65	2.54%	-0.02%
NRP	20.92	20.83	-0.43%		8,646.74	415.11	4.94%	-0.02%
PAAS	18.47	19.34	4.71%		11,615.62	600.60	6.64%	0.31%
RGLD	43.74	46.00	5.17%		12,710.69	276.32	7.27%	0.38%
SLV	13.68	13.81	0.95%		11,218.52	812.35	6.41%	0.06%
SLW	8.34	8.81	5.64%		8,557.48	971.34	4.89%	0.28%
SSRI	18.65	19.65	5.36%		11,431.07	581.73	6.53%	0.35%
TBT	53.03	51.03	-3.77%		10,165.34	199.20	5.81%	-0.22%
TC	9.63	10.31	7.06%		4,836.52	469.11	2.76%	0.20%
TCK	16.12	15.99	-0.81%		10,631.65	664.89	6.08%	-0.05%
TZA	24.86	22.74	-8.53%		4,581.18	201.46	2.62%	-0.22%
AVG (daily)			2.48%		$ 161,482.09	Equity value	92.32%
AVG (monthly)			-5.89%		$   13,440.07	Cash	7.68%	0.00%
AVG (inception)			16.22%		$ 174,922.16	Tot Port Value	100.00%	2.73%

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Sorry, I gotta make this one short and sweet.  I got a barfing three year old on my hands.   They don’t like to accomodate you at that age, if you’re familiar, so I have to play “moving target” ovah heah.

Anyway, the Jacksons didn’t do much today, and you can see my comments below.  The two big movers were [[TC]] — which is just a Godzillian monster ripping down ricepaper buildings in Tokyo — busted right past my 61.8% long term fib line today and proceeded to keep going.   I wanted to sell the calls only to find  — to my deep chagrin and embarassment — there were none.   So I sold one third of my position, as reported, at $11.21.   I guess we’ll find out very soon if that was a bad move, but considering I had gotten those shares in the low sixes, I could not complain.  

[[TBT]] is the other marching gorilla, responding to all kinds of distress out there in Ten Year Bond land.   Well, I just don’t think we’re going to crack 4% on the first attempt here, auction or not.   I just think that’s too easy.   I will likely sell the calls again tomorrow on any further march to $60, keeping in mind we may have seen the high water mark this afternoon at $59.79.

Only [[PAAS]] was over 2% for the rest of the Jackson’s and only [[ANDE]] — which needed a rest — was down more than 2%… so, a blah day.

I will caution you to watch the PM’s tomorrow however, as I got the feeling that this current consolidation may be coming to an end, one way or the other.  Stay alert.

On non Jacksons [[ENTR]] finally broke out a bit and [[ANV]] showed nice relative strength considering the paucity of movement in the rest of the gold sector.  That may be one to own when we start moving again.   

That’s all for now, save the list.   Be well everybody, and watch the puke flu.

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{I know I keep fiddling with the format of this performance chart, but please let me know if you like this latest idea of putting the prior day’s post in for comparison’s sake.}

Name	9-Jun	10-Jun	% Change		Comments
ANDE	$ 31.30	$    30.48	-2.62%		Still on the trendline.
EGO	9.21	9.13	-0.87%		Would like to see it kiss the st trend line @ $8.90
GDX	41.09	40.80	-0.71%		Hanging on 61.8% long term fib.  Added 1k today @$40.88
GLD	93.83	93.86	0.03%		POG down about $2.  Waiting.
IAG	10.17	10.21	0.39%		Holding pattern.
MON	85.07	85.85	0.92%		Dropped and recovered nicely all afternoon.
NRP	24.11	24.01	-0.41%		Looking for a breakout above $24.60 to “prove”
PAAS	21.71	22.15	2.03%		Looking to get over $22.30 in the morning.
RGLD	44.37	43.90	-1.06%		Touched the trendline as expected, should go north from here.
SLV	15.03	15.01	-0.13%		PO Silver down a mere 8 cent.
SLW	10.29	10.18	-1.07%		Will it get to the trendline @ $9.90?
SSRI	22.59	22.75	0.71%		Making a move for the top of the cup again.
TBT	57.22	58.77	2.71%		Missed $60 by fitty cent.  Waiting for auction to sell calls.
TC	10.58	11.32	6.99%		Just a freaking monster.  Took 1/3 off @ $11.21. Mistake?
TSO	15.51	15.35	-1.03%		Needs to show me something here, or buh-bye.
AVG			0.39%

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UUP is our proxy for the dollar as you recall.   It’s right at make or break here hanging about it’s 61.8% retrace.  Now, on my other graphing software, the 61.8% — Golden Ratio — retrace line is at $24.07.   No matter, we want this sucker below $24 to feel good about the dollar not threatening this rally again.  

Good thing we are in PM’s and heavy metals as they are negotiating this squall just fine today.   On the gold side, [[ANV]] continues to show real nice relative strength, to the point where its making me wonder if there’s not something going on.   [[PAAS]] and [[PTM]] are doing well as well, and you may want to have a sally at [[NG]] as it’s getting bootstomped for no particular reason while [[NXG]] is up.  Perhaps it’s the “X” chromasone?

I like [[TIE]]  and [[TC]] is just insane.  I may sell the calls after this posting, in fact.   In the meantime, the golds and silvers are hanging tough, and [[TBT]] is right at my intermediate sell level (high of about 59.50 today).   I may sell the calls on that one as well, depending on what the dollar does to the close.

On other crazy stuff, [[ENTR]] is finally breaking out, while the [[HEB]] takes it in the shorts.   Watch that one, along with [[IMGN]] as I think they’ll both “be baaahhk” like Arnold.   Another Fly buy is [[OVTI]] which I’ve had for a while now, and is finally perking.

Queries welcome.

Here’s a great theme for today.   Whether we’re talking the dollar or the market, you gotta love this humble boy from Northern Florida.  Fantastic rendition, too, the way he gets the blase LA crowd to sing the whole first verse (Hat tip to Boomer):

Update:  Funkier version from Hamburg, sorry about the “non-embed” you can see that one on Youtube.

[youtube:http://www.youtube.com/watch?v=RiztRc910Ps 450 300]

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 Update:  Sorry, no calls to sell on TC!  Therefore I am selling one third of my position here at $11.21.   I am risking that I won’t get the better price to reload.

Update: Bot 1k more [[GDX]] @ $40.88 for shizzles and gizzles.  Hanging on the 61.8% fib.

Update:  Re: [[UUP]]– she ended up at $24.00 on the dot.  Isn’t that just like a woman?

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I interrupt this heavily precious metal-oriented blog in order to pay homage to The #1 Jacksonian Holding since inception (May 1st, our official/unofficial start date).   Mr. Anderson — [[ANDE]] broke the 70% mark today, in a little over a month’s trading.  

That’s kind a special, so I figure I’d give old “Keanu” a shout out.   Do you begrudge?  Better question — do you own it?

Mind you, I think the PM’s will eventually leave Mr. Anderson in the dust, counting spoons that aren’t really even there.   And believe me, the PM”s are not doing too shabbily as it is, with [[SLW]] up 41.84%,  [[TC]] up 41.49% and  [[PAAS]]  up 39.88%.   All of the golds are in the 30’s as well, with my three laggards being (in order) [[NRP]] +0.66%.,  [[TSO]] + 0.31% and negative nelly-monster  [[MON]] at (-2.76%).   The overall port, thanks to today’s recovery, is just under 26% for the entire period.  

What’s that you say?  Molybdenum’s not a precious metal?  Well it’s PRECIOUS TO ME!

For today I added a little [[EGO]] at $9.57 — my one holding that did not close in the black today (by two cents).   Ironic, no?   Still I wanted to fill that position and I think it’s coiling for a move here.   Everyone else recovered to some extent, but I would not bet my bottom dollar that we are out of the turbulence yet.   No, I shant sound the “all clear” until we’re  above the $400 mark on the $HUI, as mentioned in last night’s post.   We got halfway back, closing a bit above $387  this afternoon.  

As I said, use this time to accumulate positions in the Jacksonians, and in some [[GG]], [[AUY]], [[ANV]], and [[EXK]] — among the other PM’s of your choice.  Soon these prices will be but a dream to you, I fear. 

If you want some non-Jacksonians, I’ve been playing some biotech lotto with [[SVA]], [[HEB]], [[SFE]] and [[CTIC]].   I’m not even going to disclaim those, as if you dare playing with them you are too “certifiable” to hire a creditable lawyer in the first place.  Just. Don’t.

Two quick charts showing Mr. Anderson’s  progress.  The first shown when I laid out the first blog post on the idea, the second captured today:

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And today’s portfolio performance.  Be well all.

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Name	4-Jun	% Change		Comments
ANDE	$ 28.22	6.45%		Up over 70% since 5/1
EGO	9.52	-0.21%		Got  more today @ $9.57 – can ya tell?
GDX	43.51	3.20%		$HUI back above $385 again ($387)
GLD	96.23	1.93%		POG up 2.2% today.  ($983.50)
IAG	10.55	1.54%		Gaps filled, but anemic.
MON	82.90	1.72%		Back to Tuesday’s close
NRP	24.24	3.86%		Healthy recovery for this sluggard
PAAS	23.29	4.30%		Up 5.6% since yesterday’s purchase ($22.05)
RGLD	46.19	1.34%		Low volume retrace
SLV	15.63	3.24%		POS back close to $16 again.
SLW	10.95	3.69%		Closed right on the 50% fib retrace
SSRI	23.97	4.04%		Over the cup again-exactly
TBT	56.00	3.72%		Back over 61.8% fib – $60 next target
TC	10.06	7.71%		Blew right back up again.
TSO	16.06	5.87%		Back in the long term green by 31 basis pts.
AVG		3.49%

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‘Twas a rough day in the trenches for most of the Jacksonian Core,  but then we turned lemons into lemonade by using the retrenchment here to pick up some final positions in the silver miners, including AGQ (Double Silver ETF), PAAS,  and SSRI.   Those buys were featured in my previous post,  if you want entry points.

   I did not add to my “favourite” (sic) silver miner – SLW, but only because I already have what I consider to be a “full position” in SLW, at least for now.    I may augment that position from time to time with options purchases (or sales in hedging situations), but I will likely not add any more equity in that name.

I also eschewed adding more EXK  (-5.89%) today, due mostly to it’s volatility and low float (less than 150 k shares traded a day).  This is a stock you want to accumulate when it’s asleep — its just too damn hard to pick up when it’s moving hard one way or another.    I reserve the right to add to EXK in more calm seas.

I also added some non-Jacksonian Core gold positions, some old, and some new, whose entries are also found in the previous post.    You’ll recall I purchased a beginning position in NGD just before yesterday’s close.    That stock actually held up well, so I decided to also add its “brothers” NG and NXG.  All of these have been showing favourable (sic) patterns in the last few weeks, and their purchase is part of a diversification strategy in the smaller miners.   It’s best to take this shotgun approach with these smaller guys, as you usually cannot pick up their exposure via the GDX ETF, which only purchases the larger cap issues  but you want to have a position in these flyers for when they start to run.   Some of them will double and triple, but in these cycle peaks, you never know which.     

In that regard, I also added to my position in ANV at the end of the day.    Like with SLW and EGO, I now have a full position in this name, and expect to see it run to at least the 61.8% fib retrace at $6.72 before breaking out to new 52-week highs. 

I also took this opportunity to hedge out my largest (and non-Jacksonian) position in UPS, and to begin a “foot in” purchase in SRS  as well. 

Non-PM Jacksonians did well and not so well today, MON was up a little less than 1% while its sister Ag play ANDE was off  4.67%.    If ANDE cannot hold above the $19.40 uptrend line here, it’s likely to fill that gap over a dollar below it.   As well, Jacksonian Core Coal play NRP (-4.89%) has been performing miserably here, even as coal operators have been consolidating.    This could be due to a (temporary) interest rate response, but I won’t recommend adding to this one until it’s back over the 38.6% retrace at $22.70.     Last, refiner TSO was largely flat–  off less than half a percent.

Without further ado, here’s the 14-Member Jacksonian Core’s performance (arranged alphabetically for your reading pleasure) for today:

ANDE — $19.79  (-4.67%)

GDX — $37.94 (-2.61%)

GLD — $91.09 (+0.42)

IAG — $9.87 (-2.66%) 

PAAS — $19.26 (-3.02%)

RGLD — $40.60 (-2.98%)

SLV — $13.81 (-1.49%)

SLW — $8.85 (-5.04%)

SSRI — $19.93 (-5.18%)

TBT — $49.29 (-2.08%)

TC — $7.68 (-4.00%)

TSO — $16.09 (-0.43%)

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A bloody good evening to you all!

(Warning! Extremely stupid video to follow, usher the children from the room)

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

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Bot 1,000 more AGQ @ $44.27.  Bounced right off the 61.8 % fib line at $43.57 this morning. That would have been the perfect entry, but I was trying to respect my 10:00 am discipline.

UPDATE: Ditched the remainder of my CRAAPL @ $121.05.  Only 400 shs left, but I kick myself for not cutting it loose over $130. 

UPDATE: Bot 6,000 NG (PPT: Buy) @ $3.30

UPDATE: Bot 2,000 more SSRI (PPT: Sell) @ $21.18

UPDATE: Bot 6,000 (starter position)  NXG (PPT: Strong Buy) @ $1.85

Non-Jacksonian UPDATE: Just hedged out my UPS position purchasing the July 50 puts and selling the July 45’s for a debit spread of $1.50 a contract.   Shelter in a storm.

Non-Jacksonian UPDATE:  bot 2,000 SRS @ 24.55-.56 for downside hedge.

UPDATE: Bot 2,000 more ANV (PPT: Strong Sell) @ $5.81

UPDATE: Bot 1,000 more PAAS  (PPT: Sell) @ $19.09

Caveat: If you purchase any of these PM plays you may wake up with The Midas Touch — but ironically — only with respect to your favorite cats.    On top of that, you could easily lose money.

Developing…

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