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I had a reader inquire on the last posting about the state of some of my favoured (sic) silver-golden children. I speak particularly of [[SLW]] and [[IAG]], of whose Canadian charts, he was somewhat ill-taken. Point of fact, I think he was experiencing some painful reverse peristalsis, to cadge a term.

He mentioned also [[AUY]] but while I’ve spoken of them before as a decent buy and hold, they fall into my “aquiror” basket rather than potential “acquiree,” one and therefore I find them less appetizing.

But still nutritious with regard to a balanced portfolio of course!

Back to [[SLW]] which you all know holds a favoured place in my heart, much like one of my children, save not breathing or in need of sustencance, and quite weighty for it’s size and youth.   Whenever I need some perpsective on these names (or any names, s’truth) I repair to the weekly charts for a more holistic gander.  In this regard, SLW shows us a pattern in good standing:

As you will note, we are consilidating after breaking to multi-year and yes, “all time” highs.  If anything, we’re forming a bit of a handle whilst using the 13-week EMA as support.   Not exactly cause for alarm given the 13-week’s reliability over the last 15 months or so. 

Next let’s look at the weekly for the Gold Man Sacks, otherwise known as [[IAG]]:

IAG may need some time before it  breaks back above that $20 mark that defined its recent high back in November of ’09, but this consolidation pattern is by no means a sickly one.  The 13-wk EMA serves as the stalwart in this case as well, and should be watched as IAG grinds higher.

[[AUY]] is the least pretty, and frankly, its last quarterly earnings report denote some work that needs to be done before it can recapture it’s place of “honour.”  Note the Limbo in which it currently finds itself:

 While I believe this is a decent “buy and hold,” I think AUY likely has at least a quarter or two more to go before it can attempt to break to new highs.  It, too, should hold abover the 13 week EMA, but in this case, the real test will be a break of $13.

Good luck and do not fear, as I believe the dollar will be our friend going forward, in ascendency or demise.

Best to you all.

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One last thing:

Happy Memorial Day to all, and especially to our veterans here and departed, without whom we would never have the pleasure of these inter-tube conversations. Thank you for your sacrifice.

And a special treat — the inimitable Renaissance Man and combat veteran Mark Helprin has a special Memorial Day essay that is “must” reading for all sensible citizens of this great land.

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You bring the dough, I’ll crank me goooolden pasta machine.
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Have you just arrived at my blog after visiting the site of M. Le Docteur de Le Fly? Did you watch that video with the eerily calm-voiced man who is sketching our collective doom via Youtube videation?   Are you now in need of a mug of chamomile tea in order to calm your nerves?

Well, goodness knows, there’s other comfort foods available for your consumption, including Jake’s yummy pasta.  Remember this [[AIPC]] name from the other day’s post “Pennies for Pennes?”    Here was the original chart from 10 days ago:

And here was Friday’s close — a mere week later: 

Keep in mind, that’s a launch off support in one of the worst week and halves of trading we’ve had in 15 months.  Admit it, you didn’t touch this stock, because you thought maybe I was nuts, offering Italian carbohydrates whilst the Greeks burned the Parthenon down.   But you must keep in mind that trending stocks that display relative strength in bad markets are generally some of the safest names you can own in a storm.   

I think [[AIPC]] may take a rest/hit tomorrow, and it may be a good time to scoop some up.  Don’t wait too long, however.  There’s someone after this one, I think, and he’s/she’s/they’re no piker.

Speaking of strength in the storm, let’s not forget that [[GLD]] and [[SLV]] have been acting very cheery in the face of this Eurotardation, much to the chagrin of Mr. Samsonite Hamburg-ALL-er and his boss, a Mr. The Devil Dog.    What’s more, even the miners, which tend to wane in sympathy with the overall markets, are showing strength.  

If you watched M. le Docteur’s scary video, you may find the answer therein.  Me, I’m not going to invest in reverse-Oliver Stone type fright films, but I do know a trend when I see one.    As you can see, my plan remains the same, and so does my target for the Amex Gold Bugs Index [[HUI]] :

I like what I’ve been liking for months now, but I may not have mentioned them all, so here are some look sees:

Gold miners (Large): Goldcorp Inc. (USA) [[GG]] , Yamana Gold Inc. (USA) [[AUY]] , Newmont Mining Corporation [[NEM]] , and [[GDX]] for the grouping

Gold miners (Medium): Allied Nevada Gold Corp. [[ANV]] , Eldorado Gold Corporation (USA) [[EGO]] , IAMGOLD Corporation (USA) [[IAG]] , Gammon Gold, Inc. [[GRS]]

Gold miners (Small); Golden Star Resources Ltd. (USA) [[GSS]] , NovaGold Resources Inc. (USA) [[NG]] , New Gold Inc. (USA) [[NGD]] , Northgate Minerals Corporation (USA) [[NXG]] , [[BAA]] , Rubicon Minerals Corp. (USA) [[RBY]] , Exeter Resource Corp. [[XRA]] , Taseko Mines Limited (USA) [[TGB]] and the catch all [[GDXJ]]

Silver miners: [[PAAS]] , [[CDE]] , Silver Standard Resources Inc. (USA) [[SSRI]] , Hecla Mining Company [[HL]] , [[EXK]] , [[MVG]] , [[SVM]] ,  and the catch all Apex Silver Mines Limited [[SIL]] .

Royalty plays:  Royal Gold, Inc. [[RGLD]] and Tanzanian Royalty Exploration Corp. (US) [[TRE]] for gold, and my baby Silver Wheaton Corp. (USA) [[SLW]] for silver.

Best of the litter — Silver Wheaton Corp. (USA) [[SLW]] and [[PAAS]] for silver exposure, then Royal Gold, Inc. [[RGLD]] and [[GDX]] for gold glamour (sic).

Best to you all, have a nosh of rotini, get some sleep and do not let the Samsonite Hambug-ALL-ers bite!

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[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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We be coursin’ out o’ the far lip o’ the storm and here it tis at her strongest.    With the power o’ yon circlin’ vortex, it will try to drag ye to yer briny doom deep in the cold confines o’ Davey Jones’ Locker.   Take heed, lads!

Make an eye on yon dollar representative [[UUP]] — note how he’s strooglin’ and dancin’ like a half-mad murth’rous boocaneer at the end o’ a strip of fine English gallows hemp?    He’s tryin’ tah break ye lads, and his murth’rous brither, $DXY has shot all it’s grape over $81.00 as oirly as this morn!     They’re after ye traisure lads, as shore as I was born a palsied pain and boirnin’ boyle to the British Empire’s arse!

Aim yer guns down, lads, right below the waterline of yon King’s Federal Admiralty First Rater, the H.M.S. BernYankme, for her three decks are festooned with dollar cannon, ready to sink ye with all hands aboard, and yor sparkly traisure o’ silver and gold as well!   

But beware the storm that assists yon bewigged and brass-buttoned scurvy Federal Redcoats, blowin’ out of the South Mediterannean, and the Aegean Sea.   Tis driving the dollar to new highs against the warped and besotted Euro.   Fill the lifeboats with [[DRR]] and other provisions such as meat pasties and cane sugar.   Despite the dollar tide being up near a full 100 basis points, [[GLD]] and even [[SLV]] are riding the storm well, which gives me good cheer, even as my cutlass runs red down it’s fuller, and my beard sizzles with ball and gunpowder.

[[SVM]] and [[PAAS]] which were laggards last week, seem to be holding out the best in the silver circus.   [[EXK]] , Hecla Mining Company [[HL]] and [[CDE]] are next in line, with my favourite (sic) Silver Wheaton Corp. (USA) [[SLW]] taking the worst of the tsunami wave for the rest of her crew.   

The cautious among ye will await the drop o’ DXY below the $81.00 sea line.   At that point, I think even the Treasury Bane [[TBT]] will be boardable without fear of it becoming a Jonah.   Me three favourite golds, Allied Nevada Gold Corp. [[ANV]] , Eldorado Gold Corporation (USA) [[EGO]] and IAMGOLD Corporation (USA) [[IAG]] seem to be holding up in that order as well.

Hold hard mates, I see a calm horizon when this sqall be done.

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How you like DEM appers, Hans Brix??

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While the [[SPY]] and it’s brothers [[IWM]] and [[DIA]] continue to melt down this morning in a “Wiener Health Care Epiphany” paroxysm of joy, something odd is going on with my usually dour miners.

They are not doing the D-Wave downshuffle along with the greater market.   Usually [[HUI]] and its components, Goldcorp Inc. (USA) [[GG]] , Agnico-Eagle Mines Limited (USA) [[AEM]] , Yamana Gold Inc. (USA) [[AUY]] , Hecla Mining Company [[HL]] , Gold Fields Limited (ADR) [[GFI]] , Kinross Gold Corporation (USA) [[KGC]] and Newmont Mining Corporation [[NEM]] (among others) are getting bashed with the best of them in a dollar up ( [[UUP]]  is one metric) and market down environment.

Could it be that precious markets (and maybe the commodity markets in general) are sniffing out the gut-busting dollar explosion that will result in the fatal pillar of the Welfare State being added to our toxic soup should Obamacare gain some ground in today’s six hour tribute to Castro-style grand-standing?

I dunno, all I know is my babies — Silver Wheaton Corp. (USA) [[SLW]] , Eldorado Gold Corporation (USA) [[EGO]] , [[PAAS]] [[EXK]] , IAMGOLD Corporation (USA) [[IAG]] and Allied Nevada Gold Corp. [[ANV]] are showing some resiliancy here.   Could be that the Hueys are just oversold and resting up for a new sell off, but this action is not compelling me to give up my sammitch-eating marathon as instituted.  

Sure, [[DRR]] is probably a good bet here, as the Euro is a piece of dangling gypsy tchockes (sic) hanging off a sick old Romanian lady’s pleather purse right next to her Molotav-brand cigarette lighter.   But if you think a billion plus in new entitlement spending — let’s call it WienerCare if it passes — is going to strengthen the dollar in this new decade, I have some Jimmy Carter brand dental floss ready for delivery to you upon your immediate call.   Just pay shipping and handling.

Favourite (sic) pick o’ the day — Eldorado Gold Corporation (USA) [[EGO]] .

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

Wait for 1:43 for the transcendent beauty to begin.   Then go out and procure your child cello lessons.

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Who’s sick of this damn winter already? I sure am.   Someone sold me a story about moving to the South some years ago, but I think I’m going to apply for a refund.  We had zero snow last year (sticking wise) and I bet we’ve had 25-30 inches this year.   And the cold!  The damnable cold!   I could almost handle the snow if it didn’t come with this extra serving of Canadian Clipper.  

Enough already! 

But that brings me to a super nova of my own making.  It’s called my portfolio, and you are welcome to bask in it’s awesome radiation.   The dollar (DXY) is down 17 cent to $80.16 (use [[UUP]] as your proxy here), and the price of gold (“POG”) is up well over $1,100 to $1,109.10.    If we get to $1,120 on the POG, we will be off to the races.

Mind you, I think we’re already off.   I’m already locked and loaded, and if you’ve been following this blog over the last three plus weeks, you’re likely ready as well.   If not, and you’re still looking for some last minute shopping, here again are my two favourites (sic)…

First the Gold Standard, Allied Nevada Gold Corp. [[ANV]] :

Note, I’m using the weekly’s here because these are long termers for me.  You can also see that the last two weeks has been giving us the signal in both names.  

My silver goddess has been and continues to be Silver Wheaton Corp. (USA) [[SLW]] .   This chart is even prettier than the previous:

It’s late so I’ll bid you adieu.   Here’s to a great week, and a great month in the PM’s.    These gems are just two of many that I believe will run in the next several weeks.  I also look for Royal Gold, Inc. [[RGLD]] , Eldorado Gold Corporation (USA) [[EGO]] and IAMGOLD Corporation (USA) [[IAG]] on the gold front, and [[EXK]] , [[SVM]] and [[PAAS]] on the silver.

Best to you all.

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