With the summary dimissal of [[TSO]] this week, I have an opening in the ranks I’d like to fill.   In fact, I may open the barracks to two or more if the stars align properly and there are attractive combatants ready to take the pledge to hard money and portfolio longevity that our General Jackson demands.  

One course I’m considering is having the Jacksons act as a 20-man platoon, with certain soldiers being held either partially or fully in reserve during times of either overvaluation or imminent reversal, whilst the others take up the battle against the Federal Reserve and it’s 12-battalion band of Redcoat brigands.   I believe I will represent this through a “going to cash” metric that I will include in my daily reports. 

For example, my sale of TSO resulted in a net cash position of $9,357  (a little more than a $640 loss from the original $10,ooo invested).   While TSO will soon come off the roles entirely, I will keep that cash for reinvestment purposes going forward, thereby keeping the Jacksonian Portfolio to the same accounting I’m using in my own portfolio.  

This method will also help better track my partial sales, like my “one third” position sale in [[TC]] the other day at $11.21, which would have yielded me an additional $5,250 in cash (keep in mind, the original $10,000 in TC was invested at $7.11 on May 1st.  Therefore, even after having sold a third, I have over $11,000 in value remaining ).   

So given those two sales, my cash position is up to $14,600, and burning a hole im m’ pocket.

I will work on adding these cash parameters so you can have a better idea of what I’m doing every day in my portfolio, and a better view on how I’m hedging the port against cyclical downturns.

In the meantime, I welcome suggestions with regard to additional Jacksons.  I can tell you now that the precious players will have a leg up and [[GG]] and [[AUY]] remain in the top contenders.  That said, I will look forward to your calls here.   Remember that I like liquidity, and volatility is not a plus in the Jacksonian fold.  Long term value trumps all, however, especially in the context of an inflationary or continuing deflationary market.  

Best  to you all.

___________________

Addendum:   Forgive the indulgence.   I have one last tribute for my girl’s nativity.  Appropriately, it’s a song about a heart-stealing Kentucky woman, from the master himself, back before his voice went out altogether:

 [youtube:http://www.youtube.com/watch?v=Iq7ZkdNNPKI 450 300]

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Today was that rarest of days — an entirely red painted day for the Jacksonians.  Even when the PM’s are having one of their regular group regurgitations, I can usually count on MON or NRP, or one of my less precious groups like TC , sturdy TBT or even blessed Mr. ANDE to come to my aid.   But not today.

All bloody red.  Impaled on the hard cold grounds of Boston to the tune of  some 2.5% down.  

 But that’s the breaks when you are building a hard money portfolio that was up some 25% in a month.  You are going to have to expect some pullbacks and yes, drawdowns.  We will talk about certain hedging strategies over the weekend and I will have a later post tonight to go over the specific individual Jacksons and some of my other picks in more detail.

For now, it’s off to a well-deserved libation and the start of my weekend.   I will see you all later tonight with the roundup.

Addendum:  I did add some today but just a bit.   1,000 shs of [[TIE]] at $11.01 and 1,000 shs of [[CDE]] at $12.50.   They looked like they had pulled back to some stability.  We’ll see, as I plan to add more of both in future.

Special Addendum:  Vincenzo explains to Fly what happened with the servers this afternoon:

 [youtube:http://www.youtube.com/watch?v=4KsU89R1A8M 450 300]

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Update:  “Bloody” Jacksonian Results for Today:

Name	11-Jun	12-Jun	% Change		Comments
ANDE	$   30.70	$ 29.79	-2.96%		Nice move down, next stop 20day–$26.40
EGO	9.15	8.79	-3.93%		Hung right on the 50-day @ 8.74
GDX	40.92	39.54	-3.37%		50 day at $38.39
GLD	93.70	92.17	-1.63%		POG under $940.
IAG	10.08	9.85	-2.28%		50-day @ 9.44.
MON	86.85	86.54	-0.36%		Relative strength is strong here.
NRP	24.21	23.85	-1.49%		Right on the 20-day line at 23.63
PAAS	22.61	22.04	-2.52%		Tested 20 day holding here.
RGLD	43.92	42.64	-2.91%		Bounced off 50-day EMA @ 42.22
SLV	15.13	14.63	-3.30%		PO Silver down 56 cent.
SLW	10.26	10.05	-2.05%		Held 20 day trendline pretty well.
SSRI	22.81	21.95	-3.77%		Closed just a hair below 20 day EMA
TBT	57.52	56.59	-1.62%		Continued pull back. 20 day @ 54.90
TC	12.13	11.76	-3.05%		Even TC needed a rest today.
TSO	14.98	14.98	0.00%		Flat, sold out.
AVG (daily)			-2.35%
AVG (monthly)			-2.67%
AVG (inception)			22.40%

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Actual Photo of Fly Taking in Today’s “Winnings”  (IOU marker from Devil Dog)

Over at the PPT’s special “User Notes” running commentary section, otherwise known as “The Smoke Filled Room,” we are slowly, slowly, ever so slowly, mining the equity markets for all of their loose cash.    We are being quiet about it, and despite the clamor on this site, not too braggadocious– especially considering how efficiently we are picking the purses of the slug footed, tuft-eared mutual fund “management” drudges. 

That PPT.   That conflation of laser-sited market research and shared expertise, combined with the real-time shout outs of the elite membership… Hooo!  That sucker is hitting on all cylinders right now!   By Jupiter’s Stone, we may just suck all the stamped coinage out of this market before we’re done  — that is, all but the occasional TARP fund or whatever other “rescue” device Congress manages to filch from your pockets for eventual distribution into ours.  

It’s almost not fair.   Almost.   Luckily, we’re accommodating folk and friendly to strangers, so you can still join us and add to the fun we’re having.   So far, there’s still some dough in the market not yet claimed.   Come, give a hand. 

_____________________________

In the land of Jackson, it’s a sad and blighted day.  Not so much as because of the over all portfolio performance — as it actually ended up today despite the laggard pace of the PM’s as they continue to consolidate last month’s move.   No, it’s sad because we’re tossing a soldier from the ranks today for gross insubordination.  Yes [[TSO]] fell below the $15 level again, and like Captain Bligh chewing apples seeds on the mizzen deck, I decided to make an example of him.  So I had him horsewhipped and thrown out into the street with the scallion leavings, bad porridges and other cobblestone-riding flotsam.

I had my stop set at $15, but the excellent execution of the House of Pershing took me out of my shares at $14.98, which is where I will leave that price (an ignonimous  loss of 6.43% since inception buy at $16.01) for the remainder of the week and/or until I find a replacement.   Because I “bought” every position in increments of $10,000 for purposes of this portfolio’s proper accounting, my next purchases will only use the $9,357 in cash left over from that sale.  

(As an aside, I suppose I should also make some allowance for the one third sale of [[TC]] yesterday, but that may be getting a bit overcomplicated for this grouping.  We’ll see how it goes).

The comments are relatively self-explanatory — I sold 1/2 the calls on my [[TBT]] position today, and probably should have sold more, but there it is.   Bruce gambled, and he won by selling early, as I sold my July 60 calls for $2.15 when TBT was just above $58.00.  [[TC]] remains a beast — like [[ANDE]], it’s over 70% since inception now,  while its exiled brother, TSO, remains a piece of dog offal.  

Be gone with it, and good riddance. 

 Jacksonian Core Portfolio Holdings Results

Name	10-Jun	11-Jun	% Change		Comments
ANDE	$    30.48	$     30.70	0.72%		Crawling up the trendline again.
EGO	9.13	9.15	0.22%		Nowhere on light volume.
GDX	40.80	40.92	0.29%		Closed right on the 61.8% retrace
GLD	93.86	93.70	-0.17%		POG actually up $4.10 today.
IAG	10.21	10.08	-1.27%		Mirroring the GLD chart.
MON	85.85	86.85	1.16%		Sold 25% more MONGO’s today at $12.70 (+63%)
NRP	24.01	24.21	0.83%		Still laboring, looking for $24.60
PAAS	22.15	22.61	2.08%		Stochs turning up again, low volume, though
RGLD	43.90	43.92	0.05%		Looks like it’s headed for the TL again (43.60)
SLV	15.01	15.13	0.80%		PO Silver up about 24 cents.
SLW	10.18	10.26	0.79%		Touched trendline, and rebounded.
SSRI	22.75	22.81	0.26%		Stoch up on low volume too.
TBT	58.77	57.52	-2.13%		Sold off as expected.  Sold 1/2 July Calls.
TC	11.32	12.13	7.16%		Godzilla rebukes me for selling some yesterday.
TSO	15.35	14.98	-2.41%		Sold on break of $15.  Frozen @ $14.98 price for the month.
AVG (daily)			0.56%
AVG (monthly)			-0.32%
AVG (inception)			25.50%

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I’m a little depressed tonight to find out my own trusty State Department has been harboring two American-born Cuban spies for oh…. THIRTY YEARS now.    And what’s even more depressing is that these Grade 15-level federal bureaucrats were not even gettting paid by Fidel — no, they did it out of love for that “bang-up” job The Beard has doing on his 50-years and running prison paradise down below Key West.

Not enough love for them to actually move there, mind you.

No sir, these two cheerleaders of La Revolucion were perfectly happy to stay in the often-chilly D.C. suburbs and bank their fat U.S. gummint paychecks (your tax dollar at work!) whilst romaticizing the good works of El Jefe down in the Caribbean.  

And sure… it was a nice place to visit and all, but… they wouldn’t want to defect there.  What with the palmetto bugs and all that.

Odd, no?

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I’m not gonna get all “Chartin’ Charlie” with you tonight over the portfolio.  I told you at the end of last week we were due a pullback, and I’ll be damned if we didn’t get it to the tune of (-2.25%).   Now stop yer cryin’ and start looking to pick some of these wounded suckers up.  Do it slowly, and with measured pace and you should be very pleased by the end of next week.   Or at least “gruntled.”  

Overall port ended up just a tad under 23% since inception, thanks to this week’s downer.  Here’s the rest of it:

Name	5-Jun	% Change		Weekly Chg		Comments
ANDE	$    30.05	6.48%		15.58%		Going to $33 near term.  Scary.
EGO	9.24	-2.94%		-4.64%		Doji’d on the 20-day (9.15). Could be it.
GDX	41.33	-5.01%		-4.79%		$40 is a likely target
GLD	93.71	-2.62%		-2.11%		20-day $93.22.
IAG	10.06	-4.64%		-8.71%		Oversold on the daily, but not weekly.
MON	81.98	-1.11%		0.61%		Meh.
NRP	24.50	1.07%		1.07%		Back above the breakout on the weekly!
PAAS	22.08	-5.20%		-5.60%		Nice pullback on the weekly.
RGLD	44.08	-4.57%		-4.46%		$42 possible.
SLV	15.01	-3.97%		-2.21%		Pullback first in 4 weeks
SLW	10.37	-5.30%		-1.14%		Weekly still a beaut on this one.
SSRI	22.36	-6.72%		-7.98%		Bounced right on the 200 week ($22.27)
TBT	56.94	1.68%		2.56%		Off to the races.
TC	9.92	-1.39%		-0.70%		13-34 week bullish crossover on the weekly
TSO	15.56	-3.11%		-11.14%		Bearish engulfing on the weekly, not good.
AVG		-2.49%		-2.25%

Be well, my friendos.

___________________________________________________________________________________

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Here comes that pullback we spoke about.   I’m almost positive we’ll see even more next week, for at least a couple of days.  Now if you’re a late comer, you’ll have a chance to nibble at some bargains.   For myself, I will be eating some egg salad sandwiches, and dabbling in more psycho stocks while the busted part of this economy continues on.   

Keep in mind, the Irish banks [[IRE]] and [[AIB]] are blowing the roof off right now.  If shelalegh-toting banks in Ireland are hoisting the Guinness this late in the day, I don’t think we’re quite ready for the Domesday (sic)  Book to be opened again. 

I will have some more charts and the Jacksonian results later tonight.   Until then, have a gin & tonic and review some driver safety films or something.

_______________

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Many ah-paulgies, but when I’m undah stress, my Lawn Guyland ax-sent stahts comin’ out.  Fugheddaboudit, right?  Anyways, youse can awl see dat we’re still pullin’ back ovah heah, in an egregious mannah if I may say it is so.   Sweah ta Gawd, I dint think it was gonna happen this fast and furious, like a pissed off gindaloon lookin foah his “oily developed” little sistah, but hey — dat’s dah bawl game, no? 

Anyways, I trew dat same $HUI weekly chart from last night togeddah and whaddaya’s know?  We went and hit dat top of the consolidatin’ box dere just like I said.   Here’s dah trouble.  I ain’t so shooah we’s done heah.   In fac’ — as a mattah uh fack — I tink dere’s a damn good chance we’s go to dat second line (#2) right dere at aboud $347-48 -ish.  

So tink of it as a vacation for a day or two heah, and maybe add some names you still don’t have.   But I wouldn’t sell any cawls at dis point.   Just hang on.  Weah still 21.5% up since May dah foist, so whattaya want ovah heah?   A fuggin’ Yankee Miracle, or somethin’?   Have some damn patience.

Onna mattah of [[TSO]], that motherless whooah:  She is on my last noive, ovah heah.   I don’t feel good tellin’ youse ta accumulate her, heah, and so’s I tink maybe dat means “she’s out.”   But she’s only down 5.25% since May 1st, and I figgah we oughtta give her til 8%.    If she can’t pull outta dat tailspin, den we send her packin’.  Agreed?    Let me know what youse tink aboud mebbe replacin’ her with [[PTM]].   [[GG]] and [[AUY]] ah also on dat ray-dah screen, but NOT CRAAPL, ya heah, wiseasses?

Note dah notes, and have yahself a nice beeah and a good night.

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		3-Jun	% Change		Comments
ANDE		$    26.51	-1.23%		Lightest pullback in the portfolio
EGO		9.54	-5.82%		Got some more today @ $9.35
GDX		42.16	-5.36%		$HUI retreated to $370 today, target #1
GLD		94.41	-2.02%		Gold now $35 away from $1k
IAG		10.39	-7.23%		Watch for Friday’s gap ($10.04) tomorrow!
MON		81.50	-1.45%		Not killed today, still lagging.
NRP		23.34	-3.95%		$22 very possible (38.2% fib line)
PAAS		22.33	-6.41%		Filled Friday’s gap, I bot more @$22.05
RGLD		45.58	-4.56%		Known for volatility, trend line @$44.90
SLV		15.14	-3.87%		POS dropped 60 cents today
SLW		10.56	-2.85%		Impressive rebound today. Has not filled gap yet
SSRI		23.04	-6.61%		Pulled back to top of cup, TL@ $22.10
TBT		53.99	-1.84%		Continuing struggle with the 10-year
TC		9.34	-10.11%		Should’ve sold the calls, dammit! Support @ $9-
TSO		15.17	-13.31%		Down 5.25% since 5/1 – close to tossed
AVG	AVG		-5.11%

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