[youtube:http://www.youtube.com/watch?v=zf6s7HTmtyM 450 300] __________________________________
If it’s a schtick, so what?  If it’s an act, who cares? He’s saying what ought to be said.

It’s absolutely a perfect metaphor for our political process that these asshats think they can go after the big banks and securities players while leaving the hot steaming mess of Fannie Mae [[FNM]] and Freddie Mac [[FRE]] for another day and another half trillion dollar bailout.

It has to end, and thank the Lord for big mouths like Rick Santelli who know the game and will call them on it.

As for other heroes….

Allied Nevada Gold Corp. [[ANV]]   Boom!

IAMGOLD Corporation (USA) [[IAG]] Bam!

Golden Star Resources Ltd. (USA) [[GSS]] Shhhhher-pop!

Eldorado Gold Corporation (USA) [[EGO]] — Shazzam!

[[EXK]]   Ker-Pow!

And this is less than half the list…   

Where to watch for a step off?  Easy, I think:

Enjoy, but remain vigilant.  Best to you all.

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Okay, one more… my baby — Silver Wheaton Corp. (USA) [[SLW]]

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[youtube:http://www.youtube.com/watch?v=yv0MEMyot3A 450 300]

Hercules with Lasers… Go with it!

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It’s time to dumb it down.   Way down.

I am preparing myself for this coming weeks’ action by watching the classic Golan and Globus production “Lou Ferrigno’s Hercules.”   Watching this veritable feast of the cinema has –conservatively speaking — knocked out twice as many of my brain cells as would an all weekend black out date with Johnny Walker Red.  What’s more, there’s no hangover involved… just a rough couple of days of re-remembering my children’s names.

Which is all great preparation for what this market is likely to do should the dollar plummet down the nearest ravine, which I think it should do as soon as this bit of Grecian mess is resolved.  I believe that shall happen … shortly, as the Euro is already firming against the Swiss franc (which is actually made of cheese).  Soon it’s going to be hell for the Euro-bears, and Heaven Hill for we dollar bears. 

Here’s how I see the dollar resolving.  I think Friday’s failure to reach the recent highs and attendant turnover in most stochs is significant:

Not surprising, as we’ve expected the dollar to resume it’s downward drift, and now it appears that with housing numbers up, we have another excuse to expect inflation. 

Besides some of the recent gems I’ve spoken about, like The St. Joe Company [[JOE]] the land whore and the platinum twins [[PAL]] and Stillwater Mining Company [[SWC]] , I think I shall add to my Thompson Creek Metals Company, Inc. [[TC]] , my Cree, Inc. [[CREE]] (on a pullback to $76) and my Veeco Instruments Inc. [[VECO]] at market. 

I also like what [[MVG]] has done to her hair, and will add to Exeter Resource Corp. [[XRA]] the gold spinner too.  Last, two smaller juniors that I believe I will be adding here are Golden Star Resources Ltd. (USA) [[GSS]] and [[BAA]] .  

If I could only purchase one thing this week, however, it would likely be my “baby” — Silver Wheaton Corp. (USA) [[SLW]] which is just now breaking out all over again:

My best to you all, and Merry Hercules to you, too.

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Jake Cashes in some Chips for “Butter & Egg Money.”
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Yes, I’m raising more cash ovah heah, and even buying puts for the first time since the March ’09 lift-off.    Sure I’ve sold calls in various weighty PM positions before this, but today I actually bot a starter in January [[SPY]] puts.   100 Jan 110’s @ $2.82-.85, to be exact.  

Was I early?  Sure looks that way.   That said, I think we’ll have a dollar bounce here very soon, and my purchase will prove propitious.   That said, I won’t add the second half until  I see a break, ovah heah.   Note the evidence:

In the meantime, I am continuing to sell down exploding higher PM positions, much to my rue and chagrin.   I just sold 2k more Allied Nevada Gold Corp. [[ANV]] @ $13.97,  2k more Eldorado Gold Corporation (USA) [[EGO]] @ $13.92 and 4k more [[EXK]] and Golden Star Resources Ltd. (USA) [[GSS]] at $3.91 and $4.23, respectively.

I cannot bring myself to sell anymore Silver Wheaton Corp. (USA) [[SLW]] , even as I know it’s the right thing to do at this juncture.  

My advice?  Now that the Fly is legitimately cussin’ and hollerin’ I think it’s time to raise cash like it’s “bread day” in Zimbabwe, people.  

In the least, it will be good practice.

Salud.

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There’s room for Every-frickin’-body!
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It’s quite likely I’ll be busy today, so I wanted to throw a couple of brontosaurus burgers out there for your barbecuing pleasure in case things get all jiggy like yesterday.

‘Cause, make no mistake, we are entering into primo deal season here, if all of my bidness (sic) radar array are working in proper function.  My group is busier than a one-armed Palo Alto Perma-Bear at a self-congratulatory back-patting contest, and if the middle markets are moving, then I’m going bet the big boys have more cooking than just Uncle Warren’s Train Set purchase yesterday.

For one example, look for deals in the edumacation business, for one thing — companies like Apollo Group, Inc. [[APOL]] and DeVry Inc. [[DV]] and Career Education Corp. [[CECO]] have all been beneficiaries of a sea change in education delivery in the last decade or so.  

However, I think the paradigms are going to change even more drastically going forward.  I am getting this intuition from the myriad start-ups and later stage deals I am seeing in this space over the last 12 months.   As a result, I’d look for tuitions at all but the most exclusive post-secondary schools to come down in the very near future.   As a father of four near-genius children, I couldn’t be more pleased.

That aside, I think there’ll likely also be acquisitions in the Precious Metalspace as well,  as the various hedged and non-hedged behemoths squat and mark their territories by gobbling up junior miners with promising cargoes of “ounces in the ground.”   

To my chagrin,  I have no insight from an M&A perspective, as the majority of that deal making occurs north of our borders in the frozen outbacks of Canuckistan, completed by cigar-puffing investment bankers wearing snow-blindness goggles and polar-bear fur pantsuits.

Therefore, I can only point you out the promising junior and middle sized firms that may be in the snowmobile screens of various behemoths like Barrick Gold Corporation (USA) [[ABX]] , Newmont Mining Corporation [[NEM]] , Goldcorp Inc. (USA) [[GG]]  and AngloGold Ashanti Limited (ADR) [[AU]] .    These include:

Golden Star Resources Ltd. (USA) [[GSS]]

IAMGOLD Corporation (USA) [[IAG]]

Eldorado Gold Corporation (USA) [[EGO]]

Silver Wheaton Corp. (USA) [[SLW]]

[[CDE]]

Hecla Mining Company [[HL]]

Exeter Resource Corp. [[XRA]]

[[BAA]]

Ivanhoe Mines Ltd. (USA) [[IVN]]

[[EXK]]

[[PAAS]]

Silver Standard Resources Inc. (USA) [[SSRI]]

Compania de Minas Buenaventura SA (ADR) [[BVN]]   ———->>>> note: this one can be an acquiror or an acquiree, given it’s geographic interest.

and of course, the “catch all”  — [[GDX]] .

There are quite a few more that I’ve left off as I’m rushing, so feel free to add your own, and I may or may not add or comment on those later.

Best to you all, and one last thing:  beware the bear traps — and those calling petulantly from within them.

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Update: In a shocking and unexpected move the dollar is down again [[UUP]] .

Who could’ve seen it?  Heh. 

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There you stand, all “a-guts”with leftover Halloween booty, still feeling a little queasy from too much of that new beer you bought after seeing the “Most Interesting Man” commercial (you didn’t know it wasn’t Tecate… you just told the guy the guy at the bodega… “that Mex beer… you know?”)…

And now, this post-pumpkin Halloween Surprise and a half market.

Well, hold onto your grapes here folks, ’cause I think we’ve gotten an RSI scrape-out and bounce here on the [[HUI]] index, and I think the famed 38.2% fibonacci level has held as long term support in the $378 area.

This is significant because it looks like the price of gold is heading back up again– as mentioned Friday and again today– despite the best efforts of the IMF with their attempts at silencing the insatiable third world gold demand and despite even the recent dollar strength.

I think the overall markets may have one more wiggle before the lows are in, so you may have one more opportunity tomorrow to grab some miners before they begin their march back to El Dorado without you.

I like Golden Star Resources Ltd. (USA) [[GSS]] , [[EXK]] , [[CDE]] for “bang for your buck” cocaine dependent trader types, and I think IAMGOLD Corporation (USA) [[IAG]] and Allied Nevada Gold Corp. [[ANV]] and Eldorado Gold Corporation (USA) [[EGO]] are the best of the Jacksons right now.

As my nemesis, Hippy Red Neck Purdy has rightfully pointed out, [[BIOS]] has broken into that “free air” zone I mentioned in bloggish notes past.   I think it’s good to the $9.50 area in the near-term, fwiw.

Last, for you degenerate gambling types, the double ETF’s [[AGQ]] an [[ERX]] are looking like they are ready to start le bon temps roulletting like a bourbon filled Jeremy Shockey in the House of the Rising Son with Ragin’ and Andy Swan as his parallel-pounding wing-men. 

So hold your gourd, pumpkin eaters, this is seed-spitting time!  

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Update:  For the sadness of All Saints

[youtube:http://www.youtube.com/watch?v=Gvb65dCMjZI 450 300]

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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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