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I don’t know what to say.   Silver is even higher over it’s 200-day EMA  (53%!) today and yet AGQ continues to sally forth, like the great Black Knight knocking aside rivals like tin pots, only hours before losing all his arms and legs to a timorous King Arthur.

The winds blow here and the lights flicker, and yet the rancorous dollar is not held aloft.  It’s a rag, a pliant kerchief, a spoiled cabbage.  What do make of it but furthur substitution in proper specie?

Listen, I havn’t a lot of time.  My lights have flickered once, and the next blow will likely break my server from the Interwebs.   Therefore I give you my “best idea of the night,” in the form of one of my favourite (sic) Jacksonians, mighty ANV.  Like RGLD the other night, this looks ready to be purchased here and now.  Now is the time for gold to begin to catch it’s mercurial brother, methinks.

Due to last night’s technical difficulties resulting from tornadic activity, I will not chance furthering this message, but be on the lookout for a number of gold names breaking out like BAA did yesterday.   My best to you.

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(Can you believe this guy once married the most beautiful woman in the world?)

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It’s an unsettling time isn’t it?  Jake just said to you scant days ago, “Time to trim the sails, we’re in for some rough weather,” and yet silver keeps marching up to some argent Elysium, like a donkey with an egregious rutabaga tied to its head.

It can be frustrating, no?  Well, don’t take it hard.  Heck,  I sold almost 2,000 shares of AGQ the other day thinking I’d buy back in the low 200’s.  Silly me.

But I don’t let stuff like that get me down.  As I was explaining to a compatriot on The PPT today, we shouldn’t be afraid to hop right back on, even at a higher price, as long as we maintain the discipline to re-invest the same or smaller moneys that we originally received in exchange for our sold shares.  

This is important to remember.   Just like in the wider stock market, there are plenty of other shiny metal fish in the seas, and we need to build the maturity to be able to re-allocate resources to other, perhaps better valued opportunities.  A good example I can provide would be my decision, some time ago, to sell some SLW and apply those funds to a new stock I’d decided reminded me of old SLW at the $3 level at which I had originally begun buying it.

That stock, some of you may recall, was EXK.  

Today the cycle turns again, and I find myself selling off some (about 30%) of my “topped off” position in EXK in the $12+ regions.   Those on The PPT will attest that I took a full 10,000 shares off last week.

I have yet to buy any back, and I may never do so.   My eye has turned to other seeds that may enrich my garden plot.  Perhaps some GPL?  Some AG?  A touch of AUMN, or crappy BAA?

… or maybe, just maybe some more XG, my favorite spinoff junior goldie, which is beginning to look might ripe:

Stay thirsty, my friends.

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Jimmy Page, eat your heart out!
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You may be familiar with my call that gold and silver are overbought and should be pulling back here. Well, I still stand by that call, and as proof, today I sold approximately 25 to 40% of my EXK, BAA, AGQ, CDE, respectively .

Note I touched not any of my ANV or SLW, or IAG or RGLD, EGO or PAAS or any of my “core group.”    The reason is the Stairway to Heaven I’ve seen appearing in the charts, particularly the silver commodity’s chart.  First the weekly:

Yes, that’s our eighth week of “steady Eddy” up move we’re witnessing there.   And yet, look at how boringly stair step it seems… almost as if it is some kind of controlled move.  

It looks almost as boring — and maybe alarming — on the daily charts.   Behold:

Not a whole heckuva a lot of pullback in that stairway, eh?  That’s what’s kind of freaking me out from two angles.  First, this is not a “parabolic move” but rather a slow stair-step.  It’s highly unusual for such a volatile metal.  And before you start getting crazy about silver’s tiny market (true), the recent gold commodity charts look exactly like this as well.

It’s almost like someone gave a signal in August that it was time to swap shit dollars — ever so quietly and surreptitiously, like a cafeteria thief replacing roast turkey slices with wedges of liverwurst on all the whole grain wheat sandwich bread — for beautiful ingots of silver and gold.

This action gives me pause, even though I took some mighty profits today in the more volatile PM’s  (I also sold half my shitty BBT position, and trimmed or got rid of some outliers like JAH, KFN and a little VECO). 

This could be traders slowly covering short positions, I guess, in which case, we should ready for a strong pullback, as I’ve noted.   However, this could also be the precursor, the yeast in the bread dough, so to speak, of the parabolic move that I do expect later on this year or in the Spring. 

So we will wait and see, with bated breath, whether Christmas comes early this year… or right… on…. time!

Best to you all.

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Breaking Footage from the new iBC documentary: “Perdy: The Origins”

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Do you think it will just be silver and gold that will go dotty when the dollar implodes?  Let me disabuse you.  It will not be so.  It will also be platinum and palladium, petroleum and berillium, cadmium and radium, even guar gum and Bubble Yum will be breaking out.

Better yet, there will be a metal that shines like silver, mines like gold, and — as a bonus– makes the urinal shadows go away even faster than a pack and a half of Kools and a cold cold Olde English 800. 

That metal is lithium and it’s “rare earth.”   Not only is it great for curing insanity, but it’s almost as famous for powering cell phones, stock trading robots and small chassis time machines.   What a versatile mineral, and our friends down at the Sociedad de San Paulo own it in abundance. 

Let us give alms to SQM, then,  as it consolidates that move above it’s all important 61.8% fibonacci support line.   Let also that line be your guide for closing out your investment.   The targets are just as clear in the near term.   The weekly chart reveals:

My best bet is to wait for the break at $43.87, but then, I already own this name, so I would just be adding.   You make your own choice, you’re old enough for that now, no?  Beware the slightly overbought condition, and have patience.  You will be rewarded, I’ve no doubt.

If you can’t bear to keep away from the precious medallions markets, then GSS, RBY, BAA and EXK are four smaller friends that you could look at in a small way, on a small scale, with a small cheese wedge lodged in your wallet to prevent excess de-levering.   All show some promise and may continue…

Best to you all, and gute Nacht.

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It’s not been a bad ride for ANV since we last talked about it, has it?  Well, all good things must come to an end… or at least a temporary pause, no?

And I expect that’s what we’ll be coming up on in ANV as early as tomorrow.  I won’t be selling any of my Smaug-horde, but I may very likely sell the calls in the high $21 dollar range.   If you got on board when I alerted you to the 200-day touch you’re up over 35% right now, and I should think that’s not a bad ride for less than a month.

You can see we’re approaching some pretty serious oversold levels here in this recent chart:

I will likely do the same for SLW, EGO and IAG as well, and I will reduce my AGQ levels too.   Some of my smaller positions, like FRG (also a huge winner today) and RBY may get trimmed as well, but most I will just leave to gestate further in the womb of this great gold bull, which I think will resume soon after this pull-back.

BAA — the chronic underperformer, comes to mind as a something about which Mother Mary whispered right in front of me, “Let it Be, son, Let it Be.”

Or maybe that was the Raven quothing “Nevermoooooaah!” 

Whatever.  If you really have the hankerin’ to buy something tomorrow, why not try that perennial Fly favourite and crusher of all things Broadcom — ENTR?   Note, you may recall (and certainly the fine gentlemen and ladies of The PPT know this) that I added to my pile on this the other day at the retest of the original breakout?

Not that there’s anything to all that crazy chart-chompin’ stuff.

Best to you all.

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Today was a warm and fulfilling Father’s Day.   I took the four offspring and their madre and her parents off to our traditional Father’s Day Lunch where we had a toothsome sup at our favorite restaurant complete w. sangrias out on the lanai. 

Then we followed that worthy repast with a late afternoon matinee (blessedly air conditioned, as it’s been over 90 for a week now).   We saw the highly acclaimed Toy Story 3 in “3-d” (sufficiently subtle that it did not bother my usually sensitive inner ear) and I can truthfully say it was the perfect Father’s Day movie, and just a great movie all around.   I might even pick up some DIS on Monday, so impressed was I by those Pixar geniuses all over again.

But this was a busy week, Father’s Day culminations aside, and none were more busy than the deep-mining dwarves of my portfolio that showered me with coyne (sic) even as I wheeled and dealed like a Soprano consigliari in Sinatra’s New York.

For those of you who think this recent market rip as a sign of light at the end of the tunnel, please disabuse yourself immediately.  You might as well ascribe the recent positivity to overzealous vuvuzallah (sp?) blowing as to positive economic news.

Make no mistake, this market is ripping on a combination of black smoke-sentiment rebound and fast money central bank printing.    As a result, stocks as a whole have risen, and my gold and silver plays (not to mention select platinum and palladium names) are looking Atlas holding up the world, but getting ready to shrug.

Last week I gave you RBY and BAA, which were up this past week 19.3% and 21.4% respectively. 

Yes, in one week.  And there will be moooore, on each, bless us both.

Even that damned elusive Pimpernel could not argue with those kind of results, but you must get them while they are hot, like slices of pizza thrown from the tenth story of important buildings.  

I don’t want to hear any complaints, either, as I illustrate my favourites (sic) which I have been recommending now for more than a full year of vociferous blogging.  

Remember my very favourite stock, SLW?  Well, it was only up a mere 8.5% last week.   But that only means you haven’t missed the entirety of the party.   In fact, I think it’s about to get started on the weekly here:

Then there’s my number two beauty, ANV.  It was also up a mere 12.4% last week, but I want to show you the daily on this one to illustrate the dramatic manner in which it made that increase last week.  Note how it, too, is approaching new highs?  Coincidence?

Maybe a little bit overbought on the daily, but that’s one you want to own for the long, hard times.  Weekly is a dream.

Then there’s my lovely EGO, up a mere 6.3% this week, but showing some appetizing possibilities as it too ends the week within a hair’s breadth of new all time highs.  Uncanny, no?  Check this daily out:

Some volume, wot?

Then there’s the grand-pap of them all, RGLD, which looks like it too wants to find new ground above $55 per share.  We may sell off a little bit of the last week’s 4.1% advance, but then we may just consolidate some of this overbought-ness and move on to new highs.    Let’s say I’m not selling any calls just yet:

That’s enough for now.   This should be an exciting week.  Watch the dollar index here.   If it breaks $85.00 here, as I’ve stated before, we could have some serious play in the fields of gold.   Keep an eye on CDE (up over 14%) and PAAS (up over 9.5% last week) for the silver stakes as well.

Best to you all.

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