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This is the Market…

Opiate dreams

“Opiate Dreams” 

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Don’t bother listening to any of the bullshit on Bubblevision, or even stuff you read on the latest financial blah blahg.  Unless it’s The PPT, you are wasting your time.

  Rather, you should concentrate on foreign commodity names with strong earnings paths, because the crap dollar is what’s making this thing work right now, and that will be true right through late October, early November.

You may remember, we have an election coming up?

Here’s the deal on the dollar.  It’s hugely oversold right now and very ripe for a bounce.  I think it gets all the way to $85 and maybe more before collapsing again.  Here’s the projection:

If you are in gold and silver, gird your loins.  We could see as low as mid $1100’s on the gold front, as a result of the dollar’s return to $85.   “Que sera,” I says.  “Suck it up,” I says.   We’ve been down this road before and we certainly know it’s ultimate end.   (That’s “up” for you noobs). 

In the meantime, buy some PBR, or some CEDC on any pullbacks– you can’t go wrong betting on Brazilian oil or Polish folks taking to the bottle.  Both are top “furrin picks,” on top of my PM hordes.  Go get ’em.

On the PM horde front, and with regard to a dollar bounce, I may sell some calls.  I will certainly let you know.   Right now, I am sitting, eating samiches, counting coin.

And drinking fine wine and eggsellent ales, of course.   I am still on vacation, after all.

Best to you. 

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Fruit Of Carpathia

 Vigo

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Bring your sack, the LED leaders are marching forward with their grapes of wrath unfurled, and you want to be in that number, lest you take the hard edge of me terrible swift sword.

Hmmmm…. I think I feel an anthem coming on… bum-bum-bummmmmm…. nah, it’s passed.

I don’t mean to boast idly, but I was up 4.2% today and not, as you might believe, due to my precious metal portfolio alone. Make no mistake, those names were up nicely today, with Allied Nevada Gold Corp. [[ANV]] ,Rubicon Minerals Corp. (USA) [[RBY]] , NovaGold Resources Inc. (USA) [[NG]] , [[BAA]] , Exeter Resource Corp. [[XRA]] and my baby Silver Wheaton Corp. (USA) [[SLW]] leading my dogpack of precious metallicas like a dogsledder seeking Siberia from Alaska.

Others in my port, however, were up just as — or even more — handsomely, with the “3 T’s” racking in large horde — Thompson Creek Metals Company, Inc. [[TC]] , Teck Cominco Limited (USA) [[TCK]] and benighted Titanium Metals Corporation [[TIE]] rocking worldviews, and even Sud Ameriquan lithium developer Sociedad Quimica y Minera (ADR) [[SQM]] rebounded well today. Crazy Central European Distribution [[CEDC]] has finally woken back up, and Trannie King United Parcel Service, Inc. [[UPS]] looks to be leading the rebound with the Transports.

Nothing seems to lead these markets like the LED stocks, however, and I won’t rest until M. Le Docteur de le Fly is invested in the two leaders Cree, Inc. [[CREE]] and Veeco Instruments Inc. [[VECO]] , who have become the spokesmodels for Woody’s “relative strength” in this post-apocalyptic age.

First, note the Cree, Inc. [[CREE]] weekly, and slap yourself in the head for missing this opportunity:

I’d like to see that weekly volume bar increase as the week goes on, and I believe it will, especially when taking on the daily view:

The 20-day had held support for a while, so a launch back above it should be encouraging.  I  (luckily) added 2k more of both CREE and VECO last week as I had “low-ball” (heh, right) buy orders laid in that took advantage of the downdraft.   These two are a large part of my gain advantage today, and I think they will continue to lead.

For all the relative strength shown in Cree, Inc. [[CREE]] , check it out in Veeco Instruments Inc. [[VECO]] below… surely this is one of the strongest stocks in the universe right now, no?   Lay in wait, but do pounce as I have:

Stay on your toes, and be nimble, but I don’t think this liquidity wash is over  just yet.   Stay safer by grabbing tech leaders like the LED-ers, and hard money targets.  Everything else is suspect, and should be eschewed indeud.

Best to you all.

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Fat Target on DECK

surprise

Watch for Gay Giraffes!
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As you know, I’ve been trimming the positions recently, despite taking an initial 2k share position in Central European Distribution [[CEDC]] today at $38.62 as announced on The PPT.  I also took the opportunity this afternoon to trim half of my Cree, Inc. [[CREE]] position in the high $79.20’s and 2k shares of Veeco Instruments Inc. [[VECO]] at $46.78.

On the PM side, I also dumped another 2k shares of [[CDE]] at $17.12 and 2k shares of Allied Nevada Gold Corp. [[ANV]] at $16.95. Do not fret, these are just minor sales in anticipation of a pullback.

I think we’re in for at least a brief pullback and I’ve been looking for some easy fat, sloppy targets that offer some bang for the buck, all giraffe puns excepted. I think I’ve found one in our old furry booted friend Deckers Outdoor Corporation [[DECK]] . 

Lookee Here” as some apish Yankees would say:

deckdaily2 

We’ve all made some money on shorting Deckers Outdoor Corporation [[DECK]] in the past, let’s do it again, for auld (sic) times sake.

Best to you all.

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Get Drunk Buy Euros (and Eurobooze)

drunk

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Glory Be! The Greeks have been saved with promises of free money from Eurotardish German bankers bearing multicolored sheafs of kroner, guilder, drachma and Japanese bearer bonds.   Let’s get drunk on Grappa, Stroppa and Babaganoosh, and dance the hairy mazurka with dark eyed beauties until dawn. 

That means all of my gold and silver picks are going to go skyward, at least temporarily, as the dollar is shrinking back to it’s old status as the emaciated mummy of the sovereign currency world.   I will have some junior players to look at for at least a short term pop below, but first, let’s talk about what the strong Euro will do to drunken Eastern Europeans.

For one thing, I think it will get Eastern European “wodka” distributors Central European Distribution [[CEDC]] moving even further than this pop last Friday showed:

cedcwk

I’m not going to post the daily, but set it for one year and look at that saucer breakout if you want to see something appetizing.   I think the $43 short term gap fill is a nice target, but I think this baby is going back north to its old highs just as sure as they crave fermented potato juice in Minsk.   Grab and hold.

I’ve been away a couple of days, the precious is going to go cardiac and I owe you, so here’s a couple of small-cappers that I think will move something nice this week.   First the gold play, then the silver.  

The gold junior is [[BAA]] which has been a laggard, but I think “not for long.”  Here’s the play:

baaweekly

Yep, that’s the “turtlehead” above the long term downtrend that I look for.   Check the daily now to see “whut-whut” on that downtrend break:

baadaily

Yeah, that’s a turn for the better.  The same can be said, I think,  for my little silver friend [[EXK]] which I think is ready to really get with the rest of the beautiful silver peoples:

exkweek

That’s a long termer, in my humble, but you can see where the short term targets will live while the dollar drops.  Keep an eye on [[UUP]] as your guide, but you should get at least a couple of days of dip out of all the Euroshort trading.

Poor bastids.

Best to you all.

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