[youtube:http://www.youtube.com/watch?v=a1iUKCFHWzg&NR=1 450 300]

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I finally broke down and watched my first Republican Presidential Primary Debate tonight.  It was still a struggle to pay attention, despite my “political animal” tendencies.  There were just too many flotsams and jetsams out there that needed to be weeded out to get the ball rolling a little quicker.  I assure you, I would take a paring knife to that list if I were the grand GOP Puzzlemaker, instead of just some mouthy guy spouting my opinions on a lightly regarded stock blog.

The two biggest losers tonight had to be former Minnesota Governor Tim Pawlenty and former U.S. Senator from Pennsylvania Rick Santorum.  Here’s the thing — could you even tell the two apart?  Yeah, I know Rick is the Catholic firebrand and Pawlenty is the cool laconic Lutheran (or whatever they are in Minnesota), but physically they are very comparable, and charisma-wise, well…. I find myself wondering how Pawlenty ever got elected in Minnesota in the first place.

Did his dad own a department store chain, too??

With those two nobodies yanked, the next to go has to be Newt Gingrich.  Smart, no question, but way too unlikeable.  His negatives have to be up there with Hillary Clinton, and its all reflective of the smug know-it-all defensiveness that characterized his every delivery tonight.   No, he’s gone, and please Lord, soon.

That leaves us with the ever entertaining pair of Ron Paul and Herman Cain, who, in a perfect world, would be named Benevolant Dictators of America, because you’re pretty damn sure neither of them would abuse the power.  That said, neither are really ready for prime time, even as both of them gave some of the best answers of the night.  I will never agree with Paul on a foreign policy basis, but I like his libertarian views on civil rights, etc.   Herman Cain is just a whip smart bidnessman and you know he’s honest to a tee — perhaps too honest to be in politics, unfortunately.

That Huntsman creep I don’t even countenance.  The guy worked for Obama for a couple of years and we’re supposed to hire him as Big O’s replacement?  I’m figuring that dude must have shitte tonnes o’ green to burn, because I haven’t seen that much of a no-chance candidacy since the terminally morose Ralph Nadar ran for the Greens.  Huntsman, you’re fired too.

That leaves us with the lovely Michele Bachman and der Mittster.  Michele is lovely to look at, and I really respect her convictions, but there’s something about her that seems a little too frozen.  Maybe it’s here eyelids?  I dunno, but it’s odd how she speaks at the tv’s like she’s reading from an invisible teleprompter or something.    I have to sadly conclude that if she weirds out a rock-ribbed conservative like me who supports much of her platform, she’s got less chance than even Sarah Palin in the general.

That leaves Mitt, whom, as you know, I’ve been cool on since he announced.   I want to like Mitt, because I have some friends who would lay down their life for the guy, and these are not idealistic schoolgirls, but experienced deal guys I’m talking about.  However, as you know, I just have a hard time getting around the whole Romneycare thing.  Well, after tonight’s performance, I began to thaw a little bit on old Willard Mitt.

I thought he gave some really nice answers on many of the business and fiscal questions, and I really got the sense that his calm confidence (contrasted against Santorum’s near-mania at times, for example) really are a nice fit for the current state of malaise in which we find ourselves enmired.

So, for now, I’m feeling like I could pull the trigger for Mitt.  But let’s see what Saturday brings, as I also have a soft spot in my heart for Texans and their way of doing things.  Perry could be the one, as well.

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As The PPT members already know, I dumped a bunch of silver and gold today, but not by any means a portion more than 25% of my horde.  The ones I saw as either ripe or annoying (IAG), I cut down first.   I ended up selling anywhere from 1/3 to 2/3rds of my stashes in AG, ANV, IAG, EXK and NGD.  I also got rid of all of the rest of my DGP and NUGT positions, just to take the leverage off.  I sold no SLW or RGLD, but I may get rid of some of that tomorrow.

In the meantime, gold has taken a little air out, and silver along with her, but nothing extraordinary has occurred yet.  I will be monitoring the situation through tomorrow afternoon and let you know what I’m thinking, if anything.

Best to you all.

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For the Bubble that took down the Economy?

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I stayed in Silver and her miners  today because all of my charts are telling me we are still in the early stages of a liftoff in those miners.  The golds on the other hand are a tad more stretched.

As per my announcements in The PPT, I took some profits in DGP, NUGT, IAG and XG today as a result.  I still have plenty more, but wanted to build some cash for opportunities.

Best to you all.

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As beautiful as silver and gold are, you cannot eat them.  No, not even the Wonka Bar wrappers or the Hershey’s Kiss coverings you’ve meticulously assembled into a quilt for the spare bedroom.

No, since they are only useful as “stand-in” for a much poorer form of currency, one can only use silver and gold as placeholders for the more awful green stuff that we can then exchange for our MACDonalds (sic) greasy burgers and large fries.

In other words, sometimes you have to sell– even the good stuff.   So why not, then,  cash a little in when things are getting a bit overstretched?   Especially in the instance of a number of our small silver miners.   EXK is one of my favorites, for instance, but even I can’t turn a blind eye to the recent break out of the triangle and (as I’d predicted) parabolic advance immediately thereafter.  Now may be the time to scoop a bit of cream off the top… just to make sure you have pizza money:

I think we blast through $12.00 tomorrow, and I do believe I will take off one sixth of my position when that happens, ensuring myself beer money for the weekend.

I also think AGQ and some of the other miners are in similar rarified air.  I may shave some off of those as well.

If I have some money left after many a frosty bottle downed, I may even grab some more of IAG, as I believe it’s months long “saucer” consolidation is at an end and it will soon be headed to $30, and more:

Note the above is a weekly chart, and that’s a long time coming chart if I’ve ever seen one.  I also see similar breakout potential in both EGO and NGD, the former being more immediate than the latter. 

I will try to post some more chart looks tomorrow.  There’s a lot to be excited about.  Play safe.

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[youtube:http://www.youtube.com/watch?v=iCQ0vDAbF7s 450 300]

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Rock your socks off like a blazing set of gold & silver monkeys!

ANV?

AAU?

AGQ?

AG?

Folks, that’s just the “A’s.”

Heck, that’s just some of the A’s!

LOL.  Hang on, and keep your hands inside the compartment at all times.  These are historic times, and I’m glad you’re along for the ride.

Watch as long suffering junior golds like RBY, EGO, IAG and yes, even NGD, roar forward here.

Back on the road again tomorrow, but I’ll try to check in tomorrow evening.

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You probably think I’m being metaphorical and yet you’d only be partly right.  Actually, I am drinking from the NCAA Golden Cup this very evening.  You see, for the first time since I’ve been participating in the Big College Hoops Tournament pools, I’ve won my whole pool prior to the first Final Four game being played.  Ridiculous, but true.

How, you ask? Well, it’s largely a consequence of this utterly fuktarded (excuse my bastardized French) 2011 Tournament, where not only did none of the #1 Seeds not make it to the Final Four, but none of the #2 Seeds did either! Sacre Bleu, if I weren’t crazy enough of a homer to recognize the latent maturation of the Kentucky Wildcats’ mostly-freshman team, I’d have had picked zero Final Four teams.  As it is, I picked one, and that proved enough for me to win a large amount of money.

Sometimes life is not fair for the other guy, and I recognize that with humility. I will therefore buy the drinks for whomever is going to pitch a “Go Cats!” party this weekend, using my dirty winnings as salutory payment.

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On to the Golden Cup itself… Zombie asked for a “gold and silver update,” and while I scoff at such short term imprecations, I will humor him in appreciation of his long time one-liner hilarities on our collective blogs here.   My analysis will be based on the chart of the stodgy gold ETF, GLD, which I’ve owned for years but speak little about.  It’s part of my “core,” and therefore almost forgotten in any analysis of my day to day trading interests, as I’ve not interest in selling any for some time now.

That said, GLD’s chart can provide some insight onto the future movements in the precious metal environs, and particularly, the miners.   Note, that despite the great success of the miners recently, GLD has had some trouble breaking free of the $139-140 levels as illustrated below?

Note that since November, the price of GLD has flirted with that Maginot Line of $139, and only recently– in early March–  has it breached the promised land of $140 and higher?   We know our friend Mr. CANSLIM, William O’Neil, will quickly tell you that a higher right side of the “cup” in a “cup and handle” formation, is exactly what we should be looking for to best take advantage of an accelerating price situation.

Well, it seems that’s what we are looking at above, and what’s more, it seems the “handle” Mr. O’Neil is so fond of has also appeared over this last month.   Right now, the dollar is struggling to maintain it’s seemingly false Friday gains, and gold and silver seem to be shrugging off any attempts to sell them down.

That tells me, along with the chart above, that we haven’t long before we get a firm break of the $140 level.  I believe that will “bring down the house” so to speak, in terms of actively traded gold stocks.   While I continue to like silver, I think this week will belong to the gold flavor, like the rapper with the gold teeth and the big clock.

Oh right, that’s all of them. 

Carry on, won’t you?  I like NGD, AAU, IAG, IVN and of course ANV, here.

My best to you all.

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[youtube:http://www.youtube.com/watch?v=2m2FIQzal9U&feature=related]

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The knock-out makes the fighter a star, but there’s a lot of steps leading up to the fatal punch, that money maker.   It all starts with foot-work.  Ali had the greatest footwork this side of Sugar Ray Robinson, and he defined footwork as a defensive weapon in the famous rope-a-dope strategy, that combined an amorphous passive-aggressive upper body roll with a sly shuffle-dance against the ropes that literally sucked the power from the brutish giant, George Foreman, on that signature humid night in Zaire.

I advocate a similar strategy to assist in absorbing the brutal retaliatory flurries that will inevitably arise from this tidal bull we presently enjoy.  Roll with the punches.  Bleed some shares if you must — 10%, maybe even 20%.    I would not go beyond 30% at this juncture, however.   Keeping cash on hand is one thing, keeping too much of the nasty stuff and missing the rocket launch that is coming is another.

I hope this post will be timely, if in fact today’s hesitation leads to something more stomach churning.  Most important is that you do not lose your focus while the roller coaster whips you about.  

In the end, you must ask yourself the rational question:  Has any single component or fact set changed in the paper money destruction thesis?   If not, you must carry on to the predictable end.

Hint — We’re not there yet. 

EXK, SLW, PAAS, MVG on silver.   IAG and ANV and RGLD on gold.  AAU and NGD and PGZ are for your higher risk plays.  All of these on the expected dips in the next few days.

Pax.

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