[youtube:http://www.youtube.com/watch?v=2gm9q8uabTs 450 300]

Europe is not lost if there are guys like this still fighting the Euro Movement

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No, not that kind of “hope,” — not the kind that comes with all kinds of government takeovers of your private person and property. Not the kind we’ve been enduring for three plus years, and two before that in the joint houses of Congress. Is there anyone out there who still supports further meddling with businesses, with your healthcare, with your very livelihood? Is there anyone out there who still thinks they’re being helped by your friendly friend from D.C.?

Even you poor people? Are things looking up?

Minorities? Has your lot improved? Environmentalists? Peaceniks? Feeling better about things?

How about you, union guys? Is it a brave new world out there? How are dues coming? Membership?

Farmers? Miners? Small manufacturers? Hey — even you, the guy who had the great idea about converting biomass into usable fuel. I’m sorry, what’s that? Your project was beaten out by a stampede of better-lobbied inferior competition?

And you, the Wall Street smart guys, with your Ivy League degrees, and your Alden loafers, I turn to you last, as I know you best.

Look around you. Where’s that guy you used to play squash with? What happened to the Asset Backed Debt department this year? How come you have to make do with one shared pool secretary instead of Helda working on your shit alone?  Glad you wrote that check four years ago to the good looking guy with the nice smile and the airy aphorisms that really didn’t have much of a point?  Was that little bit of feel good– that cocktail party affirmation– was it worth it?

Has it been worth it, people?

I think I know the answer, but I don’t want this to be about “I told you so.” I would rather turn it into an educational opportunity, if I might. I believe that if most intelligent people read Thomas Sowell’s Basic Economics: A Common Sense Guide to the Economy, they would think very seriously about not only how this country works in very easy to grasp economic terms, but how it has grown to become the most free and strongest on earth. I highly recommend this tome (or the 4th edition, out recently) even for those of you who have no interest whatsoever in math or economics.  Professor Sowell breaks it down in very easily understood terminology.  You won’t be disappointed.

And after finishing that “good meal,” I don’t think they’d fall for the next guy with the cute smile and demagogic one-liners.  That’s just my take.

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Nothing has changed in my recent investment approach.  I continue to be long silver and gold names that I’ve detailed here already.  I continue to hold because of quotidian reasons like “seasonality” and the tendency of Santa Bernank to want everyone to have a holly jolly Christmas, as I’m sure you will agree.

On EXK! On RGLD! On SLW and AG!

Come GDX! Come EGO! Come AVL and IVN! Dash away! Dash away! Dash Away All!

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(This Car’s body and frame are made from Carbon)
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I know I’ve been waxing poetic about the bounties of raw commodity gold and silver plays, and gosh knows AGQ, MVG, AG, EXK and SLW all performed mightily today, as did ANV and IVN on the gold side (among many others).  However,  I would counsel you also that there’s a whole wide word out there from which to choose.   Make no mistake, the European crisis is not going to be over with the waving of a magic juju stick that makes every price legitimate and no bank under pressure for insolvency.  Call it what you might, but this bailout is simply kicking the can down the considerably strung out road by tossing more money at poor Greek monkey grinders who will only convert it to a lamp shade or a fancy brooch.

That means inflation.

That means all commodities will be in play.  Let’s have some fun, shall we?  Indulge me.   Old favorite (and Jacksonian) beat down TCK was roaring like a Bengal tiger caught in an escalator, up over 10%.   TC — the molybdenum favorite and also Jacksonian was up 7.25%, and even my favorite WNR was fully erect today, adding a cool 9.5%.

But here’s that long developing carbon play I threw at you some months back — CCC.  Remember that monthly chart?  The one that showed that neat consolidating triangle?   Well, faith and begorrah, that triangle is still intact and still consolidating (much like AUY in the recent past).   And given that there are two days left in October, we might even have the pleasure of an actual breakout of some significance here:

Two days for a paradigm shift possibility.  Is that too long to wait?   I wouldn’t.

PS — I have another favorite PM play that has a beautiful monthly chart as well.  Perhaps I’ll share tomorrow sometime if you are pleasant.

 

Best to you all.

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

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Apparently, crack U.S. Special Forces stumbled on JP Morgan’s “lost tonnes” of silver bars whilst cashing in our un-paid receivable with now soundly-dead Osama Bin Hydin’.  This seems the only plausible explanation of the coincident 10% drop in the price of silver last night right as the news of Osama’s involuntary cranial ventilation was breaking. 

Kudo’s to President Barack, by the way, who appears to have begun smoking some of that Bushitlerian war-monger crack and can’t seem to get enough of the rock.   In other stunning news, the vicious San Franciscite anti-war harridans of Code Pink have summarily renamed themselves “Code Ah, It’s Okay,” while long respected gold star mother media queen Cindy Sheehan has unveiled a new website in honor of her President’s recent actions called “If-It’s-Brown-Shoot-It-Down.com.”

Whether or not PETA President Ingrid Newkirk’s newly sponsored Western Kentucky Squirrel Hunt/Democrat Fund Raiser and the Sierra Club’s latest bumper sticker “Yellowstone is for Coal Mining” are further evidence of a sea change in liberal sentiment has yet to be determined.

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Despite silver’s no Chinaman low volume sell-off last night, it appears there’s little changed in the direction of the dollar.  What’s more, it looks like gold isn’t even taking the temporary detour that earl, the CRB and silver took last night upon news of Osama’s fatal lobotomy. 

Now I’ve told you about silver being waaaay over it’s 200-day EMA, and that’s why we were switching our focus to gold for now.   This sell-off, however, may give  you an opportunity to play a couple of broken silver miners.  You know I like SLW and EXK the best (both of whom look to be off at least 5% in pre-market), but I also think AG is “catchable” here, (I still have low bids in on that one) and even AGQ may be a play, if an extremely short term one.   Only mess with that last if you are determined to watch it, because it should be swinging big here this week.  Right now it’s down over 10% in the pre-market, which is too much.

On the golds, I continue to like AAU, RGLD and XG.  Also, watch IVN, which has call sellers betting against it, but which could short squozen at any time.

On another note, it’s Derby Week, so I will be trying to talk a little bit about the ponies for the fans.  Do recognize, however, that this is one of my busiest weeks, so let’s keep the comment section hopping and I’ll try to reply from the Crack wherever I may be.

Best to you all, and Happy Osama is Deceased Day!

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NOTE: This was a Thursday morning post, although still relevant.  Apologies for the rasslin’ w. both location and WordPress problems…

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Silver is in a runaway move here.  There, I’ve said it. It could end within ten minutes of trading today, or it could end in two to six weeks from now.  I really believed we’d get a sharp pullback from our most recent moves, and perhaps we still will, but there’s no denying we’re in major breakout territory here.

I have no advice to give, save that you do not get reckless and leverage yourself into ruin.   I have been cutting back here, and adding to my gold names in hopes of a catchup.   This late in the day, however, is not the time to start getting careless.

Here’s the thing… this will end and likely soon, but it will not be The End, if you know what I’m saying.  In other words, there will be other opportunities to play this bull.  Make sure you have the capital to do so.

Right now, I’d be looking at underserved names… Ironically, SLW is one of them, as it had a hard pullback yesterday, if only to it’s 50-day EMA (and 13-week EMA as well).   I may grab back some of the exposure I sold there over the last couple of weeks.   I will know by 10 am what direction I will take.

I also continue to like AAU and a number of other small names which should be popping today.  Check also AUMN on the gold side, as well as IVN and BAA — two other late bloomers.  

Best to you all.   Oh… and Happy Maundy Thursday and Passover.  Think about going to church/shul this year.

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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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UP goes silver and gold!

Sorry, I only have a minute or so, and it took me a while to fix the pic (if it is fixed!).

Looks like the dollar is heading to at least $76 where it should bounce (no guarantees).  That should give you an entry into some of my wild babies, like SLW, ANV, RGLD, PAAS, and maybe even AGQ if you have the gumption.  

I also like IVN and of course NGD and almost any silver here.  Buy quality if you can, however, so only do HL and CDE small, if at all.

I continue to become enriched, thanks to the above.  Have you participated?

I will try to re-cap my DC adventures later tonight.  Bizarre town, this is. 

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