Have to Prepare the 5-year old…
_______________________

I’m apologizing in advance tonight because I am readying now for The Great Maine Vacance, and I haven’t the time to go into deep microanalysis of the political economy and the stock market tonight.

What’s more, I have no idea if our quaint little cottage will have internet or wi-fi coverage.  The only thing thus far confirmed present in the area are large mosquitoes, the occassional lost possum and women with hairy legs who would prefer you call them “Frank.”   (Not really, Maine’s not like Vermont… yet).

This could be my last missive for a while, so I will leave you with a doozy pick.   I expect the PM  pullback I’ve been talking about is here, and we’ll see some nice entry points in the next couple of days.  Just scroll back a couple of days and check the charts for a number of optimal entries which may have seemed unachievable this week, but which may approach your wheelhouse soon.

My doozy pick is NUGT, the Double Gold Miner ETF.   That’s right, if you feel you haven’t been getting enough “action” from jumping the Snake River Canyon with your Big Wheel,  then this is the play for you.   That’s right — extreme caution is warranted (like w. AGQ):

Thank you all, and I hope to speak to you again soon.

 

_______________________________

 

Comments »

[youtube:http://www.youtube.com/watch?v=2NJnL10vZ1Y 450 300]

I don’t usually get into these Ron Paul- Ben Bernank Shin Digs, But This One is Good
_____________________

Did you make money today?  Good. If you did not, I would be pressed to question your Adderol dosage, and perhaps add 100 cc’s — STET!

There’s more to be made, of course, despite our flirtation with oversold levels.   Who knows, this kabuki theater bullscheiss on the debt ceiling might cause a drop off in overall market liquidity in the coming days and we might even get a nice pullback.

More’s the better, I say.

Gold broke to new highs today and so did DGP, which I was hoping to catch at lower levels.   I still grabbed a dollop yesterday, as announced on The PPT, at $50.75. We’re busting out:

Worried about silver?  I was too.  Not so much anymore, however.   I admit, I was a chicken shit, and re-weighted some stuff from silver names to gold.  Not that that was a terrible play, but silver did shoot the moon today, giving me the Chiggers of Chagrin as a reward.  Awful “bitey” those chiggers.   For example, as I announced on The PPT today, I dumped a bunch of AGQ yesterday to put into DGP and other golds.   How do the stock gods reward me?  By humbling me with a $20 move on AGQ today (up some 11%+).   Oy, that smarts.

But, aside from SIL, the silver miner ETF which you should own to capture the field, I really like the look of CDE here.  Sure, it’s a dog, but it’s known for taking advantage of PM rallies.   In this case, I think it’s got yards to run on the weekly, and will not only catch its old highs, but surpass them soon:

Good luck to you my friends.   Try to ignore the politicians.  They cannot defeat price.

____________

Comments »

_________________________________

Shockingly, the world did not end today (yesterday), which put a huge crimp on my “buy the dip” strategy on the global gold scale.  This was especially true for DGP, which I finally got tired of waiting for and glommed at the $50.75 mark, in “first position” size.

Even more shocking, it seems everyone and his brother decided to become PM bloggers overnight.  No matter, my bandwagon is large and full of goose down cushions.   But certain friends are going to have to become less “jumpy” in their inclinations to ride this next wave of the bull.  There’s lot’s of meat on this bone, and we are early still.  Hastiness will not do.

Take for example the “gift” I left at your doorstep the other day?  Remember AXU, and how I illustrated that it would pull back to the $7.70 marque, where it should then be SHOMPED with all due severity and muscle strain?   Well… let’s see what happened in the space of just three or so days:

Here me now and listen to me latah (sic):  AXU is going back to it’s all time highs, and MOOOOAH! How do I know this?  Because the relative strength of gold is across the board scary right now.  And the miners will generally fall into line with a rising gold price, and the miners are well undervalued in regard to a POG that is floating near all time highs as of today’s session.

Look at this $HUI  Goldbug Miner’s Index… better yet, look how MUCH room it has to make up for:

And guess what?  Baby $HUI is going to new all time highs as well!

And just so I can show you that I have some versatility in breaking away from all of these nascent gold bloggers, let me show you another stock I’ve been eyeing for quite some time now, and which I believe is set for a long term up move here.  Data Security anyone: VDSI?

I’ve liked this one a lot in the past (ea, and it looks like it’s ready to resume running here, real soon.   Best to you all.

 

______________________________

 

 

Comments »

[youtube:http://www.youtube.com/watch?v=pyj2qL-bQ4E&feature=related 450 300]

__________________________________

Amidst the rending of garments and donning of hair shirts, I stand back in the deepening silence and await perhaps the largest move in the gold market since the Recovery in March of 2009.

Yes, silver took a hit today, as is its wont in these fear markets, and I may well let some of my sold silver miner calls play out when I was thinking just last week of getting rid of the lot of them well prior to their expiration in August.   Now they may serve their original purpose as  a hedge, who knows?

I do know that gold, the physical metal, held up beautifully today, even in its current overbought condition.  This tells me that while Italian meat ball hurlers may be scaring people into the dollar,  that the ancient metal of Rome is also garnering its share of the fear premium.

No matter.  Whatever the reason, gold seems on a heady trip toward breaking news highs, and just as I rode AGQ deep into the $300’s  when that metal was moving like oil over an ice patch, so too do I now presume to ride the great beast DGP into glory.   Gird your loins and prepare yourself, my friends… the signs are well emblazoned on the snows that surround us:

Enjoy, enjoy.  And remember this: there is always a bull market somewhere, and nine times out of ten, you will find it on Jake’s blog.

Best to you, good penitents of Opus Dei.

__________________________

Comments »

 

You’ll be Fortunate if You Can Keep Your Moustache Clean
______________________________

Just get in the manhole and try not to mind the company of the rats.  That is, unless you get hungry over the next couple of days. 

I think we are going to hit that dollar high in the next few days, probably by Wednesday, as this Greek PIIG drama doesn’t seem to want to go away.  That means we will probably see one final washout in the market as well, before a recovery.   

The good news is that the precious metals — gold, silver, and even more so platinum and palladium, are hanging in there and remaining rather unfazed by this most recent 50+cent appreciation in the DXY.   This is encouraging and may signal that the metals themselves will be turning before even the market.  

That being said, I wouldn’t be surprised to see one final reach down as the dollar heads to our target in the $80.20 range.   For gold, that might mean a test of the $1,030-40 area after all, and for silver, likely a break of the $16.00 mark.   I will be poised for that event — and on any rapid shakedown to these levels I will be adding egregiously to my [[AGQ]] and Royal Gold, Inc. [[RGLD]] for certain, and quite possibly I may add a touch more Allied Nevada Gold Corp. [[ANV]] , Eldorado Gold Corporation (USA) [[EGO]] and [[EXK]] as well.   I am holding out for one last purchase on the June $11 Silver Wheaton Corp. (USA) [[SLW]] calls too — hopefully in the low $3.00 range this time. 

We had quite a beard-curling day on Friday and I wouldn’t be surprised if we opened strong on Monday, only to give it all back in a nervous, feckless cowardly bout of trading that meanders thoughtlessly even unto Wednesday.

I say to you, now, do this:  Grab some cigars and some cheap bourbon and call five of your favourite (sic) comrades for a poker game below the city streets, under the comforting aegis of a two inch thick Neenah Wisconsin-forged steel manhole cover.    There, among the hollow echoes of  the moist, steam-filled tunnels and amidst the occassional squabble with the rats over the Cheez-it bowl, you will remain relatively unscathed — and perhaps more important, distracted — in the days ahead.  

Later, this week, we will comb out our moustaches and re-take our rightul places on the street-side of the manholes, where we shall kick various bears and their entourages down aforesaid (still) open cataracts, where they shall each reside again in bitterness, without the aid of kerosene lantern, cozy parka, or thrilling paperback romance novel.  

Off to price expensive cigars and cheap, but bracing bourbon.  Bless you, my friends.

___________________________________________

Comments »