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Midas is My Bitch

midas
Sit, Midas, Stay!
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I was away on business in outer Lobos Lobovia today (somewhere in the untracked wilds of the Midwest), when I received a cell phone text from my dog, Midas (above).   She’s been trained to faithfully call me whenever I’m away from the screen and there’s a significant opportunity in the precious metals… especially the miners.   She’s to do this no matter how busy I am, and mein gott have I been busy.   Still, she has her training… so…

“Roof!” She said, “roof, urf, roof!”   Loosely translated, this meant “buy MVG,” but that’s of little consequence when you could have bought anything in the PM sector today (save maybe PAAS) and you’d have made a crop of coin.  So who says dogs are smart, right?

Anyway, MVG was up 6% including after hours today.  AAU was up 12.7% today.  Guess what wasn’t up so much today?  If you said “BAA” you get a prize.  It was flat most of the day, only to trade up a shade under 3% in after hours.   Can you guess what I’m going to be buying tomorrow, time allowing?

My dog Midas knows.

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Again, my apologies for being away from you, friends.  It’s truly been one of the busiest weeks I’ve had since I was a gruntling analyst fresh out of my white shoe training program.  And shit, it’s only Wednesday.

That news in itself should be somewhat indicative to you.  Money is moving people, on both sides of the balance sheet.

Given this pace, I may not even make it to the weekend.   So if I don’t, let me share my outlook.  I think we should be aware we could be on the cusp of a cataclysmic move in the PM’s.   The dollar has broken that support at $76, and as I type it’s at $75.89 on the index.   Gold has responded, and is above $1700 again.  I think we’re on the way back up, and am cautiously adding to my piles as time allows.

Silver’s been something of a laggard, but I may take advantage of that by adding to my AG and EXK tomorrow.  If my readings are correct, we’ve still a ways to go in those names.   I may even indulge in some AGQ.  Juniors in the gold sector should also be considered.  Grab GDXJ if you don’t want to choose.   Take care, and I will try and drop in on you tomorrow.

Best to you all.

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It’s a P.M. Dawn

[youtube:http://www.youtube.com/watch?v=-dzpTFQR0Tg&feature=related 450 300]

Whatever happened to gay rap anyway?

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Today was kind of interesting, no? False alarm breakouts all over, and almost none of them held…

Save for the PM miners of course. Sort of like a… a… PM Dawn, no? I took my cue off the Baby $HUI earlier today, as it had gracefully touched the bottom of it’s trading channel and then sprung up like a coked out stallion loose in the mare barn.  True, it sold off some at the end of the day after that initial hop up.. but I still like the pin action.  Note:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Despite the long wick in that last candle, I like how there’s still lots of room to run on the RSI and the other stochs.   This puts me in the mind that we are seeing a genuine handle breakout here.   On this action, I doubled up on my XRA and BAA positions, as noted in The PPT today, right before lunch.  I also added to EXK, AG, GDXJ and SIL.   I even bought some more RGLD, just to add to that pile.

Some other nice movers today that I own, but did not add too (much to my chagrin) included AXU, ANV, AUQ, AUY,GSS, NUGT, IAG, NXG, etc.  Keep an eye on these for further developments tomorrow.

As I type, the dollar is below $77, Gold is well over $1,810 and silver is over $40, indicating the $HUI is steering us in the right direction.   Enjoy tomorrow, as I will be “road-bound” again, and checking in from remote airport locations & scruffy hotel bar rooms.

My best to you all.

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Leprechaun Tyme

[youtube:http://www.youtube.com/watch?v=_qO66Rmi1Mw 450 300]

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I don’t know what’s going on, but it appears we’re about to be overrun by Viagra-popping leprechauns.   I’ve been buying some stuff back in drips and drabs but have been mostly waiting.  I added AUQ today and bought some more IPSU too. Both of those seem to be working well.  Meanwhile all the stuff I sold last week is doing aerobatics.  That’s annoying.

This is why we keep the core of course.  We don’t know what the bull is going to do… especially at these end stages.

I looked over all my charts tonight and there are quite a few looking like imminent breakouts.  These include AG, ANV, AUY, EXK and even — strangely — goofy old BAA.   Even GDX and GDXJ look pretty good, if you are into the ETF thing.   It’s our old friend the gold bug index $HUI that will provide the signal for me:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Most of those names in the chart above should break out with the $HUI index here, but I wouldn’t worry about having to pile in.   There should be pullbacks on all of them after the breakouts, so you should have ample opportunity, if you want to be cautious.

Besides the above, RGLD and NGD are rather stretched here, and I will be offloading some likely tomorrow on any $HUI break.

Best to you all, and watch out for midgets with orange hair, green vests and knotty chestnut shilelaghs.  Those fuggers will wield those beatin’ sticks.

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Greetings from Mosquitopia

Maine

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As I sit here inside my famous Maine homestead, on the end of a sea-bounded rocky egg surrounded by pines, raccoons, osprey, snowy egret, billions of tonnes of mesomorphic and granitic stone, and sluggish black mosquitoes as big as your head, know that I’m thinking of you all fondly.

Today I kayaked all the way out to a remote island in the middle of the bay with my two older sons and a cousin of theirs.  I was extremely proud to see them make it on what was a more arduous journey than we first conceived.  It sort of makes one feel all the tonnes and tonnes of extraneous food they are now consuming is going to some good use in the gradual addition of competent sinew and bone.  Be advised, however, the grocery bill on vacation, fueled by noshing and boozing adults and teenage boys exposed to the brisk northern air can look like the tally for a small air force base under battle ready conditions.

And that’s not even counting the “going out to dinner” tabs.   I think I am going to insist on summer jobs from here on out.

Don’t expect much from me this week, churlish churls.  I’ll  not be like the Monsieur le Fly, regaling you with tales of Amish cow-tipping and such.  No, you’ll be lucky to get the occasional report these next two weeks.  I don’t expect to be doing much in the market save banquing coyne (sic), as it seems the PM run is going to continue whether I’m in front of my screen or not.

I’ve given you several names over the last couple of weeks, and I think the small ones will provide much bang for the buck (AAU, BAA, CGR and BRD particularly).   There are a couple that I will be watching very closely, however, as their longer term chart patterns are appealing to me.  Let’s start with AUQ, which I haven’t spoken much about:

I think there will be some pullbacks in the weeks ahead and I think these are your best bets, long term, on some kind of a retrenchment.  AUQ has just had an awesome consolidation period.   So has has the crazy Japanese Man, Yamana (AUY), which may have the biggest saucer pattern of the PM Renaissance Era.  Tell me you don’t see something happening here?

 

And it’s not like AUY’s chart’s indications couldn’t be any clearer…  in fact, I think in the end, you will see AUY do what RGLD is doing right now as we speak.  Do you own the Grandmama of them all?   If not, it’s not for lack of my nagging….

Be well, and don’t let the big ass black mosquitoes bite.

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Carry On

[youtube:http://www.youtube.com/watch?v=nLJ8ILIE780 450 300]

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No time to indulge the chicken livers now, lads!

That’s right, buck up, stiff upper crumpets and all that.  Cheerio, wot?  Seriously, silver has broken back over $39 this evening, and if that number holds, I think we see further retrace into next week. Gold is also doing quite nicely at over $1520.

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Tomorrow’s top choicesXG and BAA.

Sure, they are obscure, but so was Jude, and look at that great song the Beatles wrote about him.

Also, the rare earth metals are being purchased again.  Yesterday MCP was getting big “buying on weakness” attention.  I like AVL and QSURF here — especially the latter.

Best to you.

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Rippin’ Lips, Catching Tips

ripping lips
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NOTE: This was a Thursday morning post, although still relevant.  Apologies for the rasslin’ w. both location and WordPress problems…

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Silver is in a runaway move here.  There, I’ve said it. It could end within ten minutes of trading today, or it could end in two to six weeks from now.  I really believed we’d get a sharp pullback from our most recent moves, and perhaps we still will, but there’s no denying we’re in major breakout territory here.

I have no advice to give, save that you do not get reckless and leverage yourself into ruin.   I have been cutting back here, and adding to my gold names in hopes of a catchup.   This late in the day, however, is not the time to start getting careless.

Here’s the thing… this will end and likely soon, but it will not be The End, if you know what I’m saying.  In other words, there will be other opportunities to play this bull.  Make sure you have the capital to do so.

Right now, I’d be looking at underserved names… Ironically, SLW is one of them, as it had a hard pullback yesterday, if only to it’s 50-day EMA (and 13-week EMA as well).   I may grab back some of the exposure I sold there over the last couple of weeks.   I will know by 10 am what direction I will take.

I also continue to like AAU and a number of other small names which should be popping today.  Check also AUMN on the gold side, as well as IVN and BAA — two other late bloomers.  

Best to you all.   Oh… and Happy Maundy Thursday and Passover.  Think about going to church/shul this year.

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