Sorry I haven’t been around to post pictures of ugly food, but I had to blow out of here real early tonight, as Bob Dylan and his Merry Band, along with Willie Nelson and John Commie Mellancamp were in town for a great five plus hours of rock & roll. They were uniformly good, and Dylan was border line great tonight. Pretty impressive for a 68 year old dude, living legend that he may be.
Willie is 76 which is just freaking incredible, given that he sounds exactly like he does on the radio. Even John Commie Melons was pretty spry at 58. Still, they could’ve dropped him from the team and not have had such an odd mix of iconic greats with aging boy popstar. It makes one wonder — who will Bob tour with next, Vanilla Ice?
Because I just got back, and because I’m out all day tomorrow, there won’t be a Jacksonian Summary today. Looking over the list, it’s a pottage of offal. Down almost 3% today, with our money padrones, both gold (price $911.70/oz.) and silver (price $12.90/oz. ) getting beaten up in a summary back alley fashion, purportedly by Treasury Bond Salesman bearing Snidely Whiplash moustaches.
IAMGOLD Corporation (USA) [[IAG]] was the worst of the lot, down over 8%. I think that means we get a bounce tomorrow, given that there’s strong support at $9.00 (where we bounced today, btw). I do think that the price of gold goes to $890 or so, here and that the miners are preceding that move.
Again, those of you who are lucky enough not to have a full position should be taking this opportunity to add at least some IAG here. Yeah, we might see lower prices, but not three months from now. This is stock that I believe will see at least $15 before the year is out, which is a 66% move from here.
The same can be said for Eldorado Gold Corporation (USA) [[EGO]] , Silver Standard Resources Inc. (USA) [[SSRI]] and Silver Wheaton Corp. (USA) [[SLW]] , all bludgeoned today as well. Again, nibble with a sidelong glance for the great cat named Treasury, but nibble nonetheless. You shall soon bell that cat.
I expect we’ll get something of a bounce tomorrow — in almost everything — but again would not be surprised if there is some follow through drubbing on some of these, including even [[TBT]] . I will be out, but may take the opportunity to dial in some more [[TZA]] on a rise tomorrow, just to continue hedging these summer doldrums.
Non-PM Teck Cominco Limited (USA) [[TCK]] got whacked today too, but I think we may get a bounce tomorrow thanks to our friends at Alcoa Inc. [[AA]] .
On my recent non-Jacksonians, [[BIOS]] can easily get back to $5.25 (its 20-day) and Health Grades, Inc. [[HGRD]] still looks very strong here. Healthcare seems to be a continuing “safe haven” in this period. Checkout Amgen, Inc. [[AMGN]] for reference.
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