One of these days I’ll shut the hell up about moving you into real money assets as quickly as your penny stock-spindling portfolio will allow.

But that day is not this day.   Not when the latest news clacking over the Jesse Livermore-era news ticker  in my offices reveals how Kommandant Barack is now going to nationalize GM — but “only temporarily.”   Turns out Dear Leader wants just enough time for Rahm Emmanual and Lanny Davis to wheel that aging aerophin-appended Caddy into his airplane hangar chop shop so to whack it up for distribution to loyal U.A.W. gummint cheese recipients.  

Tanks you veddy much, Kommandant, and dont’ forget to save the steering wheel, the white wall tires and the chrome ashtrays for the bond holders!    I said leave those white wall tires, you! 

So if the good fellahs in charge of everything  — and damn, they really seem like they are in charge of everything these days, don’t they? — are that cavalier about the big buck bondholders (some of whom were stupid enough to give them campaign money just months ago) , doesn’t that make you just a wee bit nervous about how well they are going to treat that other little U.S. bond obligation: The Federal Reserve Note?

So have fun, and be a silly piebald carnival piker if you’re so compelled.   By all means, stuff yourself into the clown car with all the other PPT nutjobs .  Throw some funny money at chip stocks that have been moribund since Bill Gates was still a virgin, if you feel that exercise will further your spiritual growth.   Go nuts. 

Hell, you’ll probably find me in that same Yugo  from time to time, playing Parcheesi with Ragin Cajun  whilst simultaneously sword fighting  The Chart Addict.    I’m human, after all, and enjoy an OTB rocket ride for greasy coin and bed bugged comfort as much as the next guy. 

Just don’t get too homey in that clown car, Homey.  Five will get you ten it will soon be remandered by the EPA for egregious CAFE standard violations, environmentally malevolant tailpipe emanations,  and toxic silly string abuse.    Then it’ll be medical experiments for the lot of us.

Well, not those who have been prudent about tendering some savings to the Jacksonian Core Holding Portfolio, whose hard money and hard asset plays will serve to keep some of us cosy with hot buttered rums and chedder toasties , whilst the OTB pikers scrape at our doors.  No luck for them I’m afraid.   They shall be turned out with a stern warning from Cuddy, our trusty footman.

But Cuddy welcomes the purchase of silver this day, as the Three Musketeers SSRI,  PAAS and  SLW scored again, with wins of 7.64%, 5.39% and 3.75%, respectively.   Do you get the feeling the market is trying to tell you something, Jacksonians?  

Beating even silver today was coveted (but not precious) metal molybdenum, as  JCHP member TC rang the bell with gains of 9.36% today.   All in all, the Portfolio only had two slight losses, and both in the red hot agricultural sector.  I expect MON (-0.69) and ANDE’s (-1.09)  small losses to be more like rests than ultimate pullbacks.   Still, this is why we’ve diversified even within this stable grouping, up 2.85% for the day.   Now quickly, onto our daily review:

ANDE — $22.62  (-1.09%)

GDX — $38.43 (+2.51%)

GLD — $90.96 (+0.66)

IAG – $9.88 (+1.23%) 

PAAS — $19.74 (+5.39%)

RGLD – $40.66 (+2.16%)

SLV — $13.98  (+2.95%)

SLW — $9.13  (+3.75%)

SSRI — $20.86  (+7.64%)

TBT — $51.04 (+1.07%)

TC — $9.00 (+9.36%)

TSO — $17.22 (+3.11%)

Daily Average:  +2.85 %

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A great day for Jackson, the posthumously mentioned President to whose name  I’ve appended the Core Holdings.   This other Jackson, I’m not so sure, as I haven’t heard much from him recently.  It’s quite possible he’s retired now,  having achieved the final goal of his career — having an African American pro-abortionist receive an honorary degree from Notre Dame!

Er,  I mean seeing an African American elected U.S. President of course! 

Oh who knows, anyway?  He’s smiling about something at least, which, as Aunt Martha will tell you,  is a good thing.

Today was surprising, to say the least, especially as I had been worrying my fingernails  all weekend contemplating the words of my oft-prescient asset manager friend Chivas on the Rocks.   To be specific Mr. Peanut Butter Jelly Time told us Friday — “Hit the deck, it’s (likley a) Gap down Monday!” 

Luckily for me and mine, I weighed that sage advice against the lowing of the PermaTard community also gibbering and capering all last week about the End Times and the Death of the Sun, like some primitive bushmen frightened by the eclipse.   Volcano fodder, I claim these pagans be, and so good contrarain indicators as well.  I held my ground, by Jupiter’s Stone, Mars’ gall bladder and Juno’s clavicle.

So whether it was donkey dumb luck or Irish stubborness (some might say those’re the same) that kept me long –save for the small position in SRS (which I won’t sell) and the hedges I’ve mentioned previously — I really can’t tell you.  However, that stance has served me well these last nine weeks, and I shant turn agin’ it until I see the curl o’ the wave. 

Don’t get me wrong, I’m not seeking to get measured for a clown coffin, complete with “Bozo holes” in the base for shoe accomodation.   We are building the Jacksonian Portfolio for uglier days, after all.  But for now the ship sails in Carribean sun and we shall bask on her decks alongside the complimentary Hooter’s girls and chilled Dos Equis. 

Heck, we may even keep this [[SONS]]  and [[QSII]] position a couple of more days just for shizzles and the gizzles.

In the meantime, your Jacksonian Core Holding Portfolio is as substantial as the enameled decks of our sun bathing clipper ship.   Mind, it will serve you well when it’s time to batten down the hatches.  Today’s readings: 

ANDE — $22.87  (+7.32%)

GDX — $37.49 (-0.42%)

GLD — $90.36 (-1.30)

IAG — $9.76 (-0.71%) 

PAAS — $18.73 (+0.38%)

RGLD — $39.80 (-0.43%)

SLV — $13.58  (-1.38%)

SLW — $8.80 (+2.56%)

SSRI — $19.38 (+1.68%)

TBT — $50.50(+2.79%)

TC — $8.23 (+7.58%)

TSO — $16.70 (+0.60%)

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UPDATE: The Jacksonian Silver Plays are leaving the station (SSRI, SLW, PAAS).  I also bot 5k more of EXK for giggles (ie, NOT a Jacksonian stock by a long shot).

Caveat:  If you decide to purchase EXK your family will be kidnapped by gypsy werewolves one day after the Lone Ranger stops by to borrow your last silver bullet cartridge.   And you could lose your investment.

_____________________

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Great news for those of us on the Jacksonian Sound Money Bus.    Mega –“Correctumundo” mortgage backed bond-shorting hedgie  John Paulson of Paulson & Co. has been piling into gold and gold miners in the first quarter of the year.   Propitious for us, no?

From the Bloomberg article:

May 15 (Bloomberg) — Paulson & Co., the hedge-fund firm run by billionaire John Paulson, increased its investment in gold and gold-mining shares in the first quarter, according to a regulatory filing.

As of the end of the first quarter, Paulson was the largest holder of SPDR Gold Trust [[GLD]], an investment fund that buys gold bullion. The New York-based firm owned 8.7 percent of the fund, valued at $2.8 billion as of March 31, according to a filing with the U.S. Securities and Exchange Commission.

That position was established as a hedge, the company said in a statement, because its funds have a share class that is denominated in gold rather than in dollars or euros.

Paulson bought or added to several gold companies in the quarter as well. He purchased a 15 percent stake in Market Vectors Gold Miners ETF  [[GDX]], a fund that mirrors the move in the Amex Gold Miners Index. That stake was worth $638 million at the end of the quarter.

Paulson also bought a 2.6 percent of Gold Fields Ltd. [[GFI]], becoming the fourth-largest holder of the Johannesburg-based gold miner.

The investment firm, which manages $26 billion, also bought an additional 2.4 million shares of Kinross Gold Corp  [[KGC]]. Paulson owned 4.4 percent of the Toronto-based gold producer and was its third-largest holder at the end of the quarter.

Paulson reported owning an 11.3 percent stake in AngloGold Ashanti Ltd. [[AU]], also based in Johannesburg, in March.

Rejoice Jacksonians, you are in the company of “the smartest guys in the room” since 2005.  

A hat tip to my friend and fellow Precious aficionado Gary Savage at The Smart Money Trader  for sending me the good news.

Ciao for now.

________________

Updated translation of the above for my hardened Gaelic friends:  Latha math dhut!

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‘Twas a rough day in the trenches for most of the Jacksonian Core,  but then we turned lemons into lemonade by using the retrenchment here to pick up some final positions in the silver miners, including AGQ (Double Silver ETF), PAAS,  and SSRI.   Those buys were featured in my previous post,  if you want entry points.

   I did not add to my “favourite” (sic) silver miner – SLW, but only because I already have what I consider to be a “full position” in SLW, at least for now.    I may augment that position from time to time with options purchases (or sales in hedging situations), but I will likely not add any more equity in that name.

I also eschewed adding more EXK  (-5.89%) today, due mostly to it’s volatility and low float (less than 150 k shares traded a day).  This is a stock you want to accumulate when it’s asleep — its just too damn hard to pick up when it’s moving hard one way or another.    I reserve the right to add to EXK in more calm seas.

I also added some non-Jacksonian Core gold positions, some old, and some new, whose entries are also found in the previous post.    You’ll recall I purchased a beginning position in NGD just before yesterday’s close.    That stock actually held up well, so I decided to also add its “brothers” NG and NXG.  All of these have been showing favourable (sic) patterns in the last few weeks, and their purchase is part of a diversification strategy in the smaller miners.   It’s best to take this shotgun approach with these smaller guys, as you usually cannot pick up their exposure via the GDX ETF, which only purchases the larger cap issues  but you want to have a position in these flyers for when they start to run.   Some of them will double and triple, but in these cycle peaks, you never know which.     

In that regard, I also added to my position in ANV at the end of the day.    Like with SLW and EGO, I now have a full position in this name, and expect to see it run to at least the 61.8% fib retrace at $6.72 before breaking out to new 52-week highs. 

I also took this opportunity to hedge out my largest (and non-Jacksonian) position in UPS, and to begin a “foot in” purchase in SRS  as well. 

Non-PM Jacksonians did well and not so well today, MON was up a little less than 1% while its sister Ag play ANDE was off  4.67%.    If ANDE cannot hold above the $19.40 uptrend line here, it’s likely to fill that gap over a dollar below it.   As well, Jacksonian Core Coal play NRP (-4.89%) has been performing miserably here, even as coal operators have been consolidating.    This could be due to a (temporary) interest rate response, but I won’t recommend adding to this one until it’s back over the 38.6% retrace at $22.70.     Last, refiner TSO was largely flat–  off less than half a percent.

Without further ado, here’s the 14-Member Jacksonian Core’s performance (arranged alphabetically for your reading pleasure) for today:

ANDE — $19.79  (-4.67%)

GDX — $37.94 (-2.61%)

GLD — $91.09 (+0.42)

IAG — $9.87 (-2.66%) 

PAAS — $19.26 (-3.02%)

RGLD — $40.60 (-2.98%)

SLV — $13.81 (-1.49%)

SLW — $8.85 (-5.04%)

SSRI — $19.93 (-5.18%)

TBT — $49.29 (-2.08%)

TC — $7.68 (-4.00%)

TSO — $16.09 (-0.43%)

_____________________________

A bloody good evening to you all!

(Warning! Extremely stupid video to follow, usher the children from the room)

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

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AGQ (+3.75%)

EGO (+2.28)

EXK (+8.24)

GDX (+4.42)

IAG (+4.11)

PAAS (+1.28)

RGLD (+6.98)

SLV (+2.04)

SLW (+5.78)

SSRI (+7.41)

And newcomer (bot 10k @ $2.19 late day) — NGD  (+13.54) 

Non precious Jacksonians MON (+4.82) and TC (+3.36) did well today too.   

Ever onward — this PM revolution is not done by a long shot.

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[youtube:http://www.youtube.com/watch?v=Gz3Cc7wlfkI 450 300] 

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UPDATE:  Looks like we will have a chance, however brief, to get into some of these silver (and gold) plays this morning if we have been remiss.  With my usual caution, I will wait until 10:00 am or so to see what the market looks like.   I will be looking specifically at the smaller caps, like EXK, ANV, EGO, NG, NXG, and even CDE and HL.

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Money is power, and in that government which pays all the public officers of the states will all political power be substantially concentrated.    — Andrew Jackson

What a great day for the Jacksonian Portfolio, no?   I felt like the Great Man re-born, breaching the lines of villainous (shorting) Redcoats with my trusty white charger, cutlass slashing down upon their ridiculous feathered bonnets, calling for my Horsed Kentucky Rifleman Sharpshooters to release another volley of musket upon their pasty-pale visages.  Triumph!

And what’s more it’s a triumph over fear, as well, for with our solid Jacksonian Core Portfolio, we know that these wins are not only for today, but will be substantiated again tomorrow.  For when the fickle winds of Washington change course again, and blow against our frail banking system’s walking corpse, rather than hold it aloft as it has, we will be prepared.    Hard money and assets will be our stores of value, no matter what our increasingly Zimbabwean central government  shall make of our paper printed with the General’s startled masque.

Today’s “core” wins — “early” wins, I call them — include PAAS (+6.82%), GDX (+5.97%), SLW (+ 3.03%) RGLD (+3.93%%), NRP (+3.68%), SLV (+2.89%) GLD (+1.46%)  and newcomer to the Core Portfolio: SSRI (+6.62).  

Of the Core that was involved in earnings tonight, we have TSO giving back strong wins from today (currently – 1.52% @ $17.53 in AH) and Mr. Anderson — ANDE — up large after hours (currently +13.95% @ $20.10 in AH).  You will recall that I sold the $17.50 June calls on TSO two days back, as I felt it was getting overextended.   I will likely close that position tomorrow, at profit.    I still retain my unhedged position in ANDE.     Other Core holdings that were down slightly today include MON (-0.88%) which needed a breather, and TC (-0.91%), whose 7 cent pullback today was also not unexpected after many days of gains.

Other non-core silver and gold plays I am currently invested in include EGO (+3.69), ANV (+3.82%),  and EXK (+4.85%).    Last, recent recommendation ATHR (-1.16%) was also off a bit.    On the oil front, I bailed on all but a stub of my triple earl ERX (+10.71%) at just under $34.00, as that was where a significant fibonacci line lay, and I’ve learned to respect the fibs on these fast moving triple ETF’s.  

 I am still bullish on our friend Earl, however, as I have been since Fly cursed his name.   My two “core holdings”  — which may soon be nominated to the Jacksonian Core — are PBR (+2.93%)  and OXY (6.66%) , the best of two nations, in my humblest opinions.

I must admit to revelling in some of Fly, RC and CA’s crazy picks today (among them SONS, and FLOW), and I even jumped into one of my own (ABK)  — it is fun to make hay while the SONS is shining, after all.   But make no mistake, these discretionary picks are a tiny portion of my portfolio.   For like the leaves of summer, these high flyers will soon fade, as will our newly reinvigorated “saved” banks.   We must always be girded with our Jacksonian Core to withstand the coming tsunami, and we will continue to build on that foundation as we jog onward.   My best to you all, and keep building! 

Important: Hat tip and my thanks to Trader Caddy and to Chanci for the suggestions on SSRI and EXK,  respectively.  

Aside: If I could tell you to get into one sector in the coming weeks, my friends, silver would lessen my worries for you and yours.

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UPDATE: I decided it would be almost hypocritical of me to urge silver on my blogreaders w/out taking at least a small position in AGQ (Proshares Double Silver) .

Or that could just be me rationalizing my inner Yukon Cornelius.  

You make the call.     That said, I’m picking up some AGQ here @ $42.87.

UPDATE:  Picked up a little more at $ 43.55  

Caveat:  VERY VERY VOLATILE!  If you buy any of this crazy stuff, there’s a 73% probability you will be drafted to become intergalactic Herald to a very large planet eating sub-god, with little sense of humor, and you may lose your pension.

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