Jake Pours A Special Treat for the Bears
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You can tell by the twinkle in his eye that old Pat Boone’s having a special day. And so are tthe loyal Jacksonian JakeGint Brigade.
Gold is now in new all-time high territory @ $1041.70 an ounce, having smashed the former $1,033 ceiling with gusto this morning, as our friend, Mr. Dollar plummets once again to it’s flash-paper grave.
In the meantime, silver is the purchase of the century as it still lags gold in targetting and achieving it’s old $20+ highs. Silver is still one-sixtieth the price of gold as well, compared to more historic ratioss of 40:1.
I’m still targetting a $21.95 price for [[UUP]] , and we may break to new lows from there, thanks to swarthy men wearing bedsheets and mis-treating their camels half-way across the world.
How dare they object to our running off sheets and sheets of green paper with Ben Franklin’s visage on it and exchanging said specie for their greasy petrol? Don’t they know what attractive wall covering that shade of grey-green can provide?
Not to mention window-treatments.
Not to get all “stuffed-in-the-gut” about how all my dollar defense dragons are tearing ass on this market and making investments in TV-tubes and natty gas service companies look like so much Baltic Avenue rowhouse property (we have Mr. Boone for that purpose anyway), I’d like to point out some exaggerated gorillas whose armpits you may wish to shave at some point today…
(That means “take some fiat off the table” for the metaphorically challenged)
Silver Wheaton Corp. (USA) [[SLW]] will likely come back to it’s breakout at $13.35 or so.
Hecla Mining Company [[HL]] is a crazy stock and will likely meet stiff resistance at $5.00.
Wait for a break of $21.96 to get back on [[CDE]] , otherwise, it should fill that gap again at $20.41
Silver Standard Resources Inc. (USA) [[SSRI]] has an optimal entry at $21.75, but otherwise it should get held up at $23.25 or so for the near term.
[[PAAS]] is “BTFO,” but will likely return to it’s old high of $24.81 before heading to new pastures.
Golden Star Resources Ltd. (USA) [[GSS]] will be BTFO at $3.71, but is a buy on a pullback to $3.38.
That’s enough free fritatas for now, pikers. Sign up for The PPT to get the full-fire hose effect of instant portfolio nutrition.
Off to commiserate with mountain dwarves and other horders of glittering treasure piles.
Slante.
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