Canucks Took this German Bunker, Back in the Day
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Yeah, so it increasingly looks like we got head faked on Monday, and the dollar (DXY) is going to make another try at that $80.20 level we talked about last week.  The dollar is up 35 cents as I type this to $79.73, after dropping briefly below $79 earlier this week.  Que sera, sera. 

I will continue adding to [[AGQ]] , as I want to get at least another 600 shares for my “full compliment.”  I will likely add opportunistically to other positions as wel, as I still have a little under 20% of dry powder left to deploy.    The gold stocks seem to be hanging in a little better than my bastard-children silvers, but that’s to be expected.  I am extremely pleased at the results of Royal Gold, Inc. [[RGLD]] today — beating revenue estimates by almost 30% and earnings estimates by over 20%.    That should bode well for my portfolio going forward, even if we do take a bit of a “dollar bite” today.

Again, not so sound like a broken record, but I think it’s very important to concentrate on these key names at these important inflection points — which is where I still firmly believe we have arrived.   On the gold’s, Allied Nevada Gold Corp. [[ANV]] has shown nice strength, as has Northgate Minerals Corporation (USA) [[NXG]] , Exeter Resource Corp. [[XRA]] and Yamana Gold Inc. (USA) [[AUY]] should all be holding in here.   If you can get Royal Gold, Inc. [[RGLD]] in the red today, it is a gift, imho.    All silvers should be bought opportunistically, of course, and I continue to love Silver Wheaton Corp. (USA) [[SLW]] , [[EXK]] and [[PAAS]] here.  Also, you may want to keep an eye on [[PAL]] and [[PTM]] for platinum exposure.

So wear your burlap today for fashion’s sake, and maybe even add a cap fashioned out of old tuna cans for “extra penitant” effect, but be sure to sew extra pockets within your sack so you can sidle into your local gem & coin dealer and slip some cadged Morgan dollars and Canuckistanian Maple Leafs  into them as your youngest son fakes an epileptic seizure in the lobby.

Best to you all, my bunkermates.

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$1,100 gold is right around the corner and we zoomed over $17 again on the silver to rest currently at $17.22.

As a result, the miners of anything shiny from platinum to tin foil have gone Batman on us and are leaping in grey tights and high-cropped riding boots from roof to roof.

Royal Gold, Inc. [[RGLD]] must absolutley be on your “Grandmother list” and I mean not for your grandmother, but for your grandmotherhood.

You don’t think Social Security is going to keep you in tea cakes and airplane bottle of Chivas, do you?

Also, for your dining pleasure, Fly has engineered a special gold list for The PPT and left it only for those whom I favor. It’s like stumbling into Aladdin’s Treasure Cave without use of magic verse or carpet.

You are that lucky.

You can see everything I mentioned last night launched out of the park today. That’s because Gold — and [[GLD]] has broken out to new highs again, and is on it’s way to $1,250 and then higher still. In addition to RGLD and the Jackson’s you want to get hold of these top Ten Fly Listers also:

Name              Hybrid % Chg              PPT Score/5.0 

1 AUY                 43.21  %                                4.11

2 NXG                    27.36                               4.05

3 EGO                     33.55                                4.02

4 GG                        21.08                               4.02

5 AZK                     32.99                               3.87

6 GOLD                  42.64                               3.78

7 RGLD                 63.64                               3.78

8 ABX                    20.20                               3.63

9 GFI                    50.43                                 3.52

10 NEM                12.75                                 3.45 

Go! 

Be benificent to one another in this day of gloury (sic).

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Zut, Alors!

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Some of you may wish to take this opportunity to weep like a disgruntled Maginot Line engineer a week after the Blitz (see above).  

That’s right it’s crying time again.   That time when the gold and silver bulls that as of late have been so docile and yielding of fresh milk (as far as you know) have now grown into raging Tauruses (Taurii?), trampling your bloated carcass and rifling your pockets for loose Good & Plenties.

But let’s check our calendars shall we?   Has Sinterklaas arrived already, muling his burlap bag of kittens and freshly polished wooden clogs?  

Has Mother already placed a large roasted poultry on the dusty “for guests only” dining room table and surrounded it with gut-stuffing, cream-embossed ancillary vegetation  seen — thankfully — only once a year?

For that matter, have even any cleverly disguised neighborhood brats beaten on your manor door, claiming King’s Right upon any nougat resident?

No?

Well, then, heck — go order a Kung Pao or something.  Take the day off.   Feed the birds.    Go have a pigeon sandwich with pigeon sauce on the side.

Or if you’re of a mind, and have recently grubbed some coin selling an egregious biotech hand grenade with your one remaining three fingered hand, see if there aren’t some glittery bargains out there you may have missed the first time around.

Caution — nothing’s really much of a bargain, valuation wise.    To buy here you’ll have to accept the thesis that we are “dollar unhinged” at this point, and that gold and silver are going quite a bit higher.   If you’ve been with me since inception, you’ve probably bought into that much. 

We’ll look at the dollar later tonight.    There will be a low and a rebound, but I don’t think it’s coming until [[UUP]] is down below $22.00.   That said, we’ll remain cautious.

There’s not a ton out there that I’m eyeing to add, but that’s only because I’m so “jug full” at this point.     I  continue to think the silvers offer the best opportunity, so I may want to look at the double POS(ilver) [[AGQ]] .

I also think [[PAAS]] is an opportunity here, thanks to yesterday’s sell-off on the merger news.  

[[CDE]] is hardly taking a breath (and I forgot to include it in yesterday’s list, my bad).  

 Silver Standard Resources Inc. (USA) [[SSRI]] has been lagging, but it’s known to catch up rather quickly. 

  Silver Wheaton Corp. (USA) [[SLW]] is of course my favourite (sic) silver,and don’t forget mighty mite [[EXK]] .

On the gold side, my current favourite — and non-Jackson — Allied Nevada Gold Corp. [[ANV]] is pulling back here.   I also like Yamana Gold Inc. (USA) [[AUY]] and [[BAA]] on this pullback.    

Of the Jackson golds, Royal Gold, Inc. [[RGLD]] is “the one” I choose above all others, thanks to its royalty leverage.   IAMGOLD Corporation (USA) [[IAG]]   and Eldorado Gold Corporation (USA) [[EGO]] have also been champions and will see the 20’s by Christmas, in my opinion.

One last thing, platinum is really picking up after lagging here, and I think  [[PTM]] is very close to “BTFO”  in the $16.50 area.   This is one to have in your portfolio as a “core holding” along with [[SLV]] and [[GLD]] , in my humblest opinion.

That’s enough for now.   Go to the boulangerie and weep over an anisette and black-black coffee.

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With the summary dimissal of [[TSO]] this week, I have an opening in the ranks I’d like to fill.   In fact, I may open the barracks to two or more if the stars align properly and there are attractive combatants ready to take the pledge to hard money and portfolio longevity that our General Jackson demands.  

One course I’m considering is having the Jacksons act as a 20-man platoon, with certain soldiers being held either partially or fully in reserve during times of either overvaluation or imminent reversal, whilst the others take up the battle against the Federal Reserve and it’s 12-battalion band of Redcoat brigands.   I believe I will represent this through a “going to cash” metric that I will include in my daily reports. 

For example, my sale of TSO resulted in a net cash position of $9,357  (a little more than a $640 loss from the original $10,ooo invested).   While TSO will soon come off the roles entirely, I will keep that cash for reinvestment purposes going forward, thereby keeping the Jacksonian Portfolio to the same accounting I’m using in my own portfolio.  

This method will also help better track my partial sales, like my “one third” position sale in [[TC]] the other day at $11.21, which would have yielded me an additional $5,250 in cash (keep in mind, the original $10,000 in TC was invested at $7.11 on May 1st.  Therefore, even after having sold a third, I have over $11,000 in value remaining ).   

So given those two sales, my cash position is up to $14,600, and burning a hole im m’ pocket.

I will work on adding these cash parameters so you can have a better idea of what I’m doing every day in my portfolio, and a better view on how I’m hedging the port against cyclical downturns.

In the meantime, I welcome suggestions with regard to additional Jacksons.  I can tell you now that the precious players will have a leg up and [[GG]] and [[AUY]] remain in the top contenders.  That said, I will look forward to your calls here.   Remember that I like liquidity, and volatility is not a plus in the Jacksonian fold.  Long term value trumps all, however, especially in the context of an inflationary or continuing deflationary market.  

Best  to you all.

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Addendum:   Forgive the indulgence.   I have one last tribute for my girl’s nativity.  Appropriately, it’s a song about a heart-stealing Kentucky woman, from the master himself, back before his voice went out altogether:

 [youtube:http://www.youtube.com/watch?v=Iq7ZkdNNPKI 450 300]

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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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Many ah-paulgies, but when I’m undah stress, my Lawn Guyland ax-sent stahts comin’ out.  Fugheddaboudit, right?  Anyways, youse can awl see dat we’re still pullin’ back ovah heah, in an egregious mannah if I may say it is so.   Sweah ta Gawd, I dint think it was gonna happen this fast and furious, like a pissed off gindaloon lookin foah his “oily developed” little sistah, but hey — dat’s dah bawl game, no? 

Anyways, I trew dat same $HUI weekly chart from last night togeddah and whaddaya’s know?  We went and hit dat top of the consolidatin’ box dere just like I said.   Here’s dah trouble.  I ain’t so shooah we’s done heah.   In fac’ — as a mattah uh fack — I tink dere’s a damn good chance we’s go to dat second line (#2) right dere at aboud $347-48 -ish.  

So tink of it as a vacation for a day or two heah, and maybe add some names you still don’t have.   But I wouldn’t sell any cawls at dis point.   Just hang on.  Weah still 21.5% up since May dah foist, so whattaya want ovah heah?   A fuggin’ Yankee Miracle, or somethin’?   Have some damn patience.

Onna mattah of [[TSO]], that motherless whooah:  She is on my last noive, ovah heah.   I don’t feel good tellin’ youse ta accumulate her, heah, and so’s I tink maybe dat means “she’s out.”   But she’s only down 5.25% since May 1st, and I figgah we oughtta give her til 8%.    If she can’t pull outta dat tailspin, den we send her packin’.  Agreed?    Let me know what youse tink aboud mebbe replacin’ her with [[PTM]].   [[GG]] and [[AUY]] ah also on dat ray-dah screen, but NOT CRAAPL, ya heah, wiseasses?

Note dah notes, and have yahself a nice beeah and a good night.

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		3-Jun	% Change		Comments
ANDE		$    26.51	-1.23%		Lightest pullback in the portfolio
EGO		9.54	-5.82%		Got some more today @ $9.35
GDX		42.16	-5.36%		$HUI retreated to $370 today, target #1
GLD		94.41	-2.02%		Gold now $35 away from $1k
IAG		10.39	-7.23%		Watch for Friday’s gap ($10.04) tomorrow!
MON		81.50	-1.45%		Not killed today, still lagging.
NRP		23.34	-3.95%		$22 very possible (38.2% fib line)
PAAS		22.33	-6.41%		Filled Friday’s gap, I bot more @$22.05
RGLD		45.58	-4.56%		Known for volatility, trend line @$44.90
SLV		15.14	-3.87%		POS dropped 60 cents today
SLW		10.56	-2.85%		Impressive rebound today. Has not filled gap yet
SSRI		23.04	-6.61%		Pulled back to top of cup, TL@ $22.10
TBT		53.99	-1.84%		Continuing struggle with the 10-year
TC		9.34	-10.11%		Should’ve sold the calls, dammit! Support @ $9-
TSO		15.17	-13.31%		Down 5.25% since 5/1 – close to tossed
AVG	AVG		-5.11%

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