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A Message from the Porcelain Shadows

[youtube:http://www.youtube.com/watch?v=_qO66Rmi1Mw 450 300]

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Just in case any of you Wall of Worry Erectors have missed the boat these last few important days, I’ve elected to make it much simpler for you with a quick chart review. 

You can print this out and put it in your wallet, and then whip it out any time the market is giving you the knackers or the frosty shivs.   We can call it your own homemade “C.F.A. merit badge” and if you send it to me with a self-addressed stamped envelope, I’ll even autograph it for you to make it all official-like.

Laminate it, why don’t you?

Now that you’ve got all you need to parse the markets for the next six to twelve months, I don’t feel so bad taking off for the Annual iBCFly Convention and Hay Ride (down 9th Avenue this year, accompanied by a Trannie Jazz Band, it so happens).    I will try to get a post in tomorrow, but as I will be traversing this great earth with the entire family, I would implore you not to get over-antsy about it.

ANV and IAG continued to knock bawls like Jerry Nadler at the last Matzoh Ball Deli in Brooklyn.   EGO and SLW also punish detractors, as do the other silver gods, EXK, PAAS and of course, MVG.   Hat tip to the Most Wrong Blog in Internets History for crapping on silver today and ensuring our big wins.   As always, your karma boomarang is most appreciated.

It looks like we got the beginning of a well-expected dollar rebound today, though I don’t believe it will amount to much.   We may get a bit above $81, but then, you’ve got your laminated cheat sheet to reassure you on ultimate targets now, don’t you?  So chin up, and hang on.

Best to you all.

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Our Operators Are Standing By

 
Gaga Operator
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Right now (12:20 am, July 29th), the dollar is below it’s support line of $82.00 at $81.993.   If this break holds, the next stop is $80, and MOOOOOOORRRE!

I am not going to screw around with any charts, as I am tired even unto my bones.   But don’t let this minor negligence keep you from the Christmas presents that you can gather and mail yourselves early, here in late July.

You know the recommendations.  If you don’t you can surely ask.   I’ve added to my hordes of SLW, ANV, EGO and IAG in the last two days, and tomorrow, I may even add some AGQ and EXK and PAAS because I think the silver exposure here could be even more bountiful than that of the gold.

Lastly, RGLD is right on on it’s 24-month EMA, and that’s held as support since the end of 2008.  That’s right, you read that right.   I have metric tonnes of this stock (like I do SLW), but I may even get some more myself tomorrow, as it’s some 15%  from its recent highs, and I think it, too, is done pulling back.

Caveat: there may be some more “down” to go, but I would be reluctant to bank on it.   These are rare times, and rare times often mean opportunity.

Best to you all.

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To Look on Beauty with Fresh Eyes…

 Penelope Cruz Asparagus Fan

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What a lucky bunch you are.

No, seriously, you are in for some fun tomorrow, especially if you are a PM “noob,” because we may get a gold and silver sale tomorrow that would put even a semi-retarded Wal-Mart jewelry clerk to shame.

It looks like we’re getting one last final swaller before we do our annual Santa run, and this one may turn out to be fun for short and long term trader’s alike.

I’m not going to show you last night’s price of gold chart again (just click one back to see it), but suffice it to say we are “right on” the 34-week EMA, just as I’d expected.   Seems we made the entire move in one day.   And on relatively light volume.   What does that tell you?  Keep in mind we’ve got COMEX options expiring today as well. 

I announced in The PPT and later on my blog that I had taken the opportunity to grab some more IAG and SLW, as both of those looked ripe for a bounce, even more so than my planned purchase of ANV.  Looking again at the longer term charts, I see that SLW could drop another dollar lower than my $18.09 purchase price, and if it does, you should take advantage.

I think ANV will finally be ripe for plucking tomorrow, maybe as early as the open.   The daily picture tells the tale here:

Looks scary, but in fact, the 200-day EMAhas been a beautiful place to pick up discounted goods in this secular precious metal bull, and you are lucky to see it once again, despite the seemingly perilous status of the situation.   Look again at that three month move from February to May, and keep in mind we are coming to Santa-season sooner than you think. 

Ho ho ho!

My other “favorite” that is looking awfully tempting for tomorrow is my massive EGO.   This time, the weekly has the better view:

 If you can catch this one anywhere near $14.90 (the 34-week EMA) then you are golden, pony boy.

I like SLW and PAAS as your silvers on any kind of gold bounce, but so does Barron’s, so for safety, I’d look at EXK here too. 

Best to you all, and happy hunting tomorrow, you lucky dawgs.

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Addendum:  For  you political types… this is one of the best articles I’ve read all year on the historical and political analysis of our currently “evolved” system of government.   I think Purdy and probably M. Le Docteur would both love it…  Angelo M. Codevilla’s The American Ruling Class, and the Perils of Revolution.   Excellent stuff, really.

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Vacation from Vacation

chaingang 

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It’s called work.  I’m back home, and I’ve got tonnes of it.  I shall be out of the office again for three days this week and have all manner of personal and personnel issues to work through.   What’s worse, my right hand man is taking this week off (and deservedly so, as I’ve been working him like a Sherpa in tourist season).

I did have a chance to look through the charts tonight, however,  and I continue to believe two things.   One, this rally will continue, most likely after a slight pause that will either accompany or ensue from a dollar strengthening.   It won’t be much, but enough to continue working out it’s current oversold condition.  

This week would not be the week to add to the TNA (D’Rex Triple Russell), in other words.   It may be a decent week to continue looking at the PM recovery that firmed last week, however.   This is especially true if we’re given a bit of respite with the dollar strengthening.

As the daily AMEX Gold Bug ($HUI) chart show, that rebound off the oversold levels has occurred.  If the cycle continues as it has, we should see at least $490 again, and perhaps even new highs, depending on what the dollar decides.   Here’s the latest in a series:

I would continue to add to strong names that look like they’ve bottomed for this cycle, especially IAG, ANV and EGO in the golds, and SLW and PAAS in the silvers.   RGLD — the royalty banker — is also extremely attractive at these levels.

Feeling adventurous?  Gobble some EXK.   Or gobble some more, in that case.   I can’t tell you how much that stock reminds me of SLW, and even it’s ultimate parent WHT (now known as GG) in the bad old days of the early 2000’s.  I believe it will eventually provide similar rewards.

Someday, you will thank me for nagging you on all this.

Best to you all.

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Off to Noo Yawk

[youtube:http://www.youtube.com/watch?v=aqlJl1LfDP4 450 300]

Love this version….

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Going up to the territory of Monsieur Le Docteur du Fly for a couple of days for business that could very well shake the foundations of Finance itself..

Or barring that, I’ll at least grab a decent steak and catch up w. some friends.    Whatever the case, I will be “around”  these premises only sporadically as I cannot guarantee that my connections will be up to speed or that I won’t have all of my time accounted for whilst up there.

I’ll leave you with your rudders tied for the moment, as I think we may get a little bit more grinding into the Friday expiration, with the possibility of a last pop into that date after more muddling tomorrow.   The dollar bounced back very slightly today an ended in the lower part of it’s track for the candle pattern.   The golds, perhaps sensing continuing weakness in $USD are continuing to crank, almost in step-fashion across the board.

Today RBY finally took off as predicted last weekend, up over 5.5% today:

  

RBY looks like it may be finally launching off that consolidation of the handle.  I expect more this week.

 BAA — which took off right away on Monday as you recall — continues to rise, and has now completely recouped it’s 19% discount from the secondary offering level I’d mentioned over the weekend…. Recouped it… AND MORE.

As you can see on that weekly chart’s stochastics… BAA has a ways to go as well, and I believe it will.

I continue to see strength in my favourite stocks, which fills me with untold joy, as I’ve pallet loads of them.  SLW looked great today, as did ANV and especially IAG.   I continue to like EGO here as well, not to mention RGLD, EXK and PAAS.   Eat, and enjoy.

Best to you all, hope to speak to you soon.

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Summer Scirocco

[youtube:http://www.youtube.com/watch?v=vSwJlv0Bljg 450 300]

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Let’s not forget what it’s all about, okay?

What’s that? You forgot?

It’s all about “Quantitive Easing,” the jim-fuggery way of saying, “printing zeroes, lots of ’em, to get us outta this perma-jam til we think of somethin’ better!”

Know this now and forever, however:

There is no Recovery Only Zuul, and Zuul is cents on the dollar, which is going to turn back to its old ways here, soon enough. Or sooner. Look where we are on the monthly which gives a nice ten year plus eyeful:

 That  38.2% fibonacci retrace line illustrated above is a Golden Ratio line — one of the strongest (along with it’s inverse 61.8%) in the psychologically uncanny mathematical metric .

Not unusually in the least, that same exact line shows up — almost to the penny — in our weekly chart as well, this time as the 100% fibonacci retrace in the intermediate term.   Note —

So, as the activity in gold and silver, platinum and even oil and the lesser metals to some extent (TIE, RTI)  has been telling us for about a week now, it looks like “they” — the Fed, the ECB and the Japanese MOF have been hitting the liquidity enema solution one more time.  

That’s one big hammer Bernanke is flailing about.

I sure hope he doesn’t hurt anyone.

Best to you all, and stay with the rockets.   Also, GSS and EXK looked good today. 

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