My friend Mr. Russell was reconstituting today, just as my enemy Mrs. Pelosi was trying to reconstitute our country’s energy markets.  So you can imagine it was a bit harum scarum.

I will come back later, and blog like the wind in the willows (maybe I’ll have illustrative capabilities back by then), but now it’s off to a super important pool party replete with screaming brats.  Ah, parenthood.

Later.

____________

Back, and I’ve looked at the JCHP for today, and save for the bizarro behaviour of usually reliable Royal Gold, Inc. [[RGLD]] , it looked like a general consolidation day for the PM’s, which is natural given the large moves a number of them made yesterday.  Eldorado Gold Corporation (USA) [[EGO]] continues to look good here, as do a the juniors I’d mentioned earlier in the day (see last post).

I will try to find out wtf is going on with RGLD this weekend. 

The other good news is that the non precious metals — Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] , as well as ag supplier The Andersons, Inc. [[ANDE]] all look like they are uncoiling out of their bullish flags again.  Keep a close eye for volume increases.

Last, be sure to keep an eye on the biotech pinless hand grenades I’ve tossed around over the last couple of weeks.   A number of them did the astral elevator today, I think because of Russell Reconstitution Day.   They included [[HEB]] , [[CTIC]] and ImmunoGen, Inc. [[IMGN]] .

Lastly, Fly’s chip box chomper of the future, [[ENTR]] had a nice gain today, but more important, it rose on huge (almost 16x average) volume.  I did not see their name in the Russell rebalances, so this volume remains a mystery.  Something to look for on Monday, however, as significant volume is usually… well… significant!

The Jackson’s on Friday:

Name/			%
Ticker	25-Jun	26-Jun	Change		Comments
ANDE	$        29.95	$      30.23	0.93%		Moving nicely out of the bull flag
EGO	9.39	9.40	0.11%		Consolidation day for gold
GDX	39.99	39.20	-1.98%		Ditto
GLD	92.31	92.29	-0.02%		POG broke briefly over $940, then back.
IAG	10.58	10.48	-0.95%		Consolidation day for gold
MON	75.66	75.25	-0.54%		Ditto
NRP	20.83	20.82	-0.05%		Flat again, forming bear flag?
PAAS	19.34	19.08	-1.34%		Held up at the 200 day EMA
RGLD	46.00	42.07	-8.54%		Freakish late day drop.   Be prepared to cut
SLV	13.81	13.90	0.65%		Up with the POS
SLW	8.81	8.72	-1.02%		Held up at the 50 day EMA
SSRI	19.65	19.52	-0.66%		Held up at the 50 day EMA
TBT	51.03	50.84	-0.37%		Near flat today, could be done w. pull back
TC	10.31	10.44	1.26%		Like ANDE moving out of flag
TCK	15.99	16.56	3.56%		Same, looking very strong here
TZA	22.74	22.50	-1.06%		Flattish for a triple.
AVG (daily)			-0.63%
AVG (monthly)			-6.44%
AVG (inception)			15.49%

 Update: The Ozzie’s get it right.   Or at least their Senate does.  Let’s hope our own Senate can be as astute when this criminal theft Al Gore bill comes before them.   Hold your reps accountable on this one, people.

___________

Comments »

—-  Back Among Friends —

______________

C’mon, you know I couldn’t resist a low hanging curve like this one.    But enough about the not-so-mourned paedophile (sic), as it looks like the real Jacksons are breaking out again.  Even with the modified [[TZA]] hedge position, I still came away with a righteous 2.73% up day yesterday for the JCHP.

And that’s not including the sundry “side-bets” I made courtesy of the Chart Addict Casino and Burlesque Review.    I try not to play long there, as it can be “addicting.” 

Yesterday, while the site was down, I played around a little with the Jacksonian Portfolio Presentation again, and while I don’t think I will reveal the actual stock holdings every day, I thought the additional information below might be helpful for you to understand how I am trading within the portfolio to harvest gains and manage risk.   So today, I’ve done away with the “comments” portion in order to show you the actual holdings as of yesterday. 

As a point of clarification, the only change I made yesterday was to sell one half the TZA hedge position at $23.67, taking a little over a dollar loss on 201 shares (I still hold the remaining half).     That left me with a bit over $13,440 in cash in the position.  For the purposes of the weighting, I have cash sitting at an annual return of 2.5%.  

As you will see it was an amazing day yesterday, as silver cleared $14.00 and gold held steady as well, pushing the $940 area (we are flirting with that price again today, despite the rest of the market being down).   I think the miners will likely take a rest today and we may even be in for more consolidation.  The trick is not to get impatient here, and to manage your positions for the next major cycle turn. 

For today, continue to keep an eye on the junior miners, including Jacksonian Eldorado Gold Corporation (USA) [[EGO]] , and non-Jacksonians NovaGold Resources Inc. (USA) [[NG]] , New Gold Inc. (USA) [[NGD]] , Northgate Minerals Corporation (USA) [[NXG]] , Allied Nevada Gold Corp. [[ANV]] , Aurizon Mines Ltd.(USA) [[AZK]] and maybe most important, Rubicon Minerals Corp. (USA) [[RBY]] .  This should be a consolidation day for all of those, so shop with “moth hands.”

As for silvers, they are all strong relative to the market today as the underlying metal is making a nice return over $14 here.  Keep an eye on micro-junior [[EXK]] for action, and also [[CDE]] which seems to be a day ahead of its brethren, and may have a consolidation day today as well.

As for the non-PM’s… I continue to like Teck Cominco Limited (USA) [[TCK]] here, and good old Jacksonian Thompson Creek Metals Company, Inc. [[TC]] might run into trouble again at its 38.2% fib retrace at $10.88.   More in updates to come…

Jacksonian Core Holdings with Cash & Stock Weightings

Name/					Position’s	Number of	Percentage	Weighted
Ticker	24-Jun	25-Jun	% Change		Port Value	Shares	of Port	return
ANDE	$        28.84	$ 29.95	3.85%		$   18,085.75	603.86	10.34%	0.40%
EGO	8.51	9.39	10.34%		8,798.43	937.00	5.03%	0.52%
GDX	38.49	39.99	3.90%		12,103.51	302.66	6.92%	0.27%
GLD	91.45	92.31	0.94%		10,616.44	115.01	6.07%	0.06%
IAG	9.99	10.58	5.91%		13,045.62	1,233.05	7.46%	0.44%
MON	76.16	75.66	-0.66%		4,437.53	58.65	2.54%	-0.02%
NRP	20.92	20.83	-0.43%		8,646.74	415.11	4.94%	-0.02%
PAAS	18.47	19.34	4.71%		11,615.62	600.60	6.64%	0.31%
RGLD	43.74	46.00	5.17%		12,710.69	276.32	7.27%	0.38%
SLV	13.68	13.81	0.95%		11,218.52	812.35	6.41%	0.06%
SLW	8.34	8.81	5.64%		8,557.48	971.34	4.89%	0.28%
SSRI	18.65	19.65	5.36%		11,431.07	581.73	6.53%	0.35%
TBT	53.03	51.03	-3.77%		10,165.34	199.20	5.81%	-0.22%
TC	9.63	10.31	7.06%		4,836.52	469.11	2.76%	0.20%
TCK	16.12	15.99	-0.81%		10,631.65	664.89	6.08%	-0.05%
TZA	24.86	22.74	-8.53%		4,581.18	201.46	2.62%	-0.22%
AVG (daily)			2.48%		$ 161,482.09	Equity value	92.32%
AVG (monthly)			-5.89%		$   13,440.07	Cash	7.68%	0.00%
AVG (inception)			16.22%		$ 174,922.16	Tot Port Value	100.00%	2.73%

Comments »

Sorry, I gotta make this one short and sweet.  I got a barfing three year old on my hands.   They don’t like to accomodate you at that age, if you’re familiar, so I have to play “moving target” ovah heah.

Anyway, the Jacksons didn’t do much today, and you can see my comments below.  The two big movers were [[TC]] — which is just a Godzillian monster ripping down ricepaper buildings in Tokyo — busted right past my 61.8% long term fib line today and proceeded to keep going.   I wanted to sell the calls only to find  — to my deep chagrin and embarassment — there were none.   So I sold one third of my position, as reported, at $11.21.   I guess we’ll find out very soon if that was a bad move, but considering I had gotten those shares in the low sixes, I could not complain.  

[[TBT]] is the other marching gorilla, responding to all kinds of distress out there in Ten Year Bond land.   Well, I just don’t think we’re going to crack 4% on the first attempt here, auction or not.   I just think that’s too easy.   I will likely sell the calls again tomorrow on any further march to $60, keeping in mind we may have seen the high water mark this afternoon at $59.79.

Only [[PAAS]] was over 2% for the rest of the Jackson’s and only [[ANDE]] — which needed a rest — was down more than 2%… so, a blah day.

I will caution you to watch the PM’s tomorrow however, as I got the feeling that this current consolidation may be coming to an end, one way or the other.  Stay alert.

On non Jacksons [[ENTR]] finally broke out a bit and [[ANV]] showed nice relative strength considering the paucity of movement in the rest of the gold sector.  That may be one to own when we start moving again.   

That’s all for now, save the list.   Be well everybody, and watch the puke flu.

______________________

{I know I keep fiddling with the format of this performance chart, but please let me know if you like this latest idea of putting the prior day’s post in for comparison’s sake.}

Name	9-Jun	10-Jun	% Change		Comments
ANDE	$ 31.30	$    30.48	-2.62%		Still on the trendline.
EGO	9.21	9.13	-0.87%		Would like to see it kiss the st trend line @ $8.90
GDX	41.09	40.80	-0.71%		Hanging on 61.8% long term fib.  Added 1k today @$40.88
GLD	93.83	93.86	0.03%		POG down about $2.  Waiting.
IAG	10.17	10.21	0.39%		Holding pattern.
MON	85.07	85.85	0.92%		Dropped and recovered nicely all afternoon.
NRP	24.11	24.01	-0.41%		Looking for a breakout above $24.60 to “prove”
PAAS	21.71	22.15	2.03%		Looking to get over $22.30 in the morning.
RGLD	44.37	43.90	-1.06%		Touched the trendline as expected, should go north from here.
SLV	15.03	15.01	-0.13%		PO Silver down a mere 8 cent.
SLW	10.29	10.18	-1.07%		Will it get to the trendline @ $9.90?
SSRI	22.59	22.75	0.71%		Making a move for the top of the cup again.
TBT	57.22	58.77	2.71%		Missed $60 by fitty cent.  Waiting for auction to sell calls.
TC	10.58	11.32	6.99%		Just a freaking monster.  Took 1/3 off @ $11.21. Mistake?
TSO	15.51	15.35	-1.03%		Needs to show me something here, or buh-bye.
AVG			0.39%

Comments »

(Lights up,  Joe Mantegna on a straight wooden chair, simple table, lone ash tray and lighter on top) (Single spot on Joe)

(lighting Marlboro Red)  Look.   Look here.   Look, I will tell you what.  I will tell you this.  This is what I will say.  

These PPT guys.  These guys.   These PPT guys.  (inhale, hold)

What?  There are women too, yes.   (exhale) Yes.  Women and guys.  PPT guys and women.

This is what  I will say:  These PPT  guys can pick some stocks.  Some fucking stocks.  You would not…  No you would NOT.   I assure you, you would not.  There is no way you would.

What?  What?  NO!  I cannot…. I can NOT.  No, I canNOT.   I cannot give you that information.  About the stocks.  About the picks.

(getting animated)

You see, these picks.    The PPT picks.   The PPT picks are for closers.    Closers.  These PPT guys?  They are always closing.  They are always winning.   They are… how can I describe it? How can I describe it to you?  (checks watch)

Okay, okay.   Hold on.   Hold on  a minute.  (drag on cigarette) Hold on.  I will tell you.  (Exhale)

There is a guy there.   His name is “I-Win.”  I shit you not.  His name is “I Win.”   Can I be clearer?  Hello?  Hello?  The man’s name is “I win.”

He has a cat.  What?  A cat, yes, but that…  But that is not important.   Let me tell you, that is not important.  What is important is this:

I Win does two things.   He closes, and he wins.   He wins and he closes.  It’s simple.  It’s magic.   It’s simple magic.  His name… the man’s NAME is“I Win.”  He wins.  Am I clear? 

(drags on cigarette, holds)(pause) (exhales)

Sometimes, even… sometimes,  I win too, when I Win wins! (animated)   Other people win too!  Would I shit you?   Would I?   I would not.   I would not shit you.

No.  Stop.  Full stop.  STOP.  STOP.  This is wrong.  This is all wrong.  This is wrong.   (Pause) Let me… no, stop.   (Pause) Let me start again.   (glances at watch)

(Ten beats)

Have you spoken to the Fly?  (pause to look at audience, make eye contact)

I asked if you have spoken to the Fly?   The Fly, he is the one.  The one to tell you.   He will tell you.   Why would he not tell you?  He would tell you. 

He will tell you the same thing.  Hell, anyone would tell you who has seen it.   Anyone who has seen it.  Not just the Fly.  Anyone.  Anyone would.

Do you think I would not tell you?  I would.   I am.  I mean I am telling you.   I have seen it.  We have seen it.  They have all seen it.    (Pause)

It is extraordinary.   (pause)

“Extraordinary,” yes I said that.   But they all say that.   “Extra-ordinary.”  Like that.  Say it like that.  Say it.  No – You say it. (pause)

You need… to ask…. the Fly.  He.  Will.  Tell.  You.    He will tell you about the picks.   The PPT picks.   He will tell you about the PPT picks. 

(One last look at watch).   Okay.  Okay.  (pause)

Okay, here is one, here is one.  Here is one.   One.  SQNM.  [[SQNM]] is one. 

Do not ask for more.   Do not.   Do not ask.

(lights dim, stabbing out cigarette in ashtray, fade to black) (/scene)

________________________________________

Name	9-Jun	% Change		Comments
ANDE	$     31.30	7.49%		Another monster day, headed for $33 (61.8% fib)
EGO	9.21	-0.65%		Rasslin’ between $8.87 and $9.33.
GDX	41.09	-0.51%		Still consolidating last week’s moves.
GLD	93.83	0.29%		POG up again, too.
IAG	10.17	-0.39%		Still meandering.
MON	85.07	2.75%		Big move day, filled gap, sold half my calls from $78
NRP	24.11	0.75%		Looking for a breakout above $24.60 to “prove”
PAAS	21.71	0.98%		Still mopey, could see 21-ish again.  Resting.
RGLD	44.37	0.61%		Could see another touch of the trend line (43.15)
SLV	15.03	1.83%		PO Silver up over 2% as well
SLW	10.29	1.08%		Could easily see $9.80 again. Opportunity there.
SSRI	22.59	2.08%		Still in bullish wedge (down) could see $20.30
TBT	57.22	-0.12%		Completing a coil of beauty, still headed to $60
TC	10.58	8.62%		Could get to 10.96 tomorrow.  Strong like bool.
TSO	15.51	-1.08%		Very close to being canned.   Cannot recommend.
AVG		1.58%

Comments »

Sometimes it’s not about the money, it’s about the high.  The high you get from being right when everyone else (or most everyone) is wrong.   Let me tell you it can be a heady thrill,  as good or better than any triumphs on the athletic or academic plain.

But I implore you to forswear this high.   Do it today.   For it will turn you into a ravening frog-eyed hermit, cursing the clouds and the crowds for not bending to your superior will and your knowing…. your knowing.

This is a game of accepting defeat after all, shaking the Fly’s hand in a firm, but gentlemanly fashion and then moving on.  It’s  not a game of self incineration.   We must keep foremost in mind that a mass of blackened carbon cannot sally forth ever again.   He can only sit, and smolder and fume and smoke…. 

And curse his fate…

On alternating Mondays.

___________________________

   It looks like no one will be able to keep these commodities down for very long.   Is it the dollar?  Is it our interest rates?  Looming inflation?   I don’t know.   “KISS” — not the rock group but the acronym — instructs me to “K-eep I-t S-imple, S-tupid,” and so I will.

Just follow the trend til it ends.   

Is that instruction really that tough to follow?   Yes, the Devil Dog is in the details, but then you’ve many friends here (and on The PPT) with whom to consult.   We shall not leave your side despite your sweaty palms and mild B.O..      The bio-techs are still working.  Don’t ask me why, I blame CA  for starting the conversation with a grainy haus frau in a smoke-filled bar in Washington Heights three weeks ago.

You know how the flutter of the butterflies wings in a crowded tavern leads to hurricanoes in the porcelain room?     I like [[HEB]]-rews here, and First Phillip-ians [[MO]].    Another stealthy bio-tech I’ve been mentioning is [[SVA]] which had another solid day.  Last [[BIOS]] could take off at any time.    Or not.  I like it in the low 4’s.

As well, the commodites are working their tiny little mono-muscles .   General Jackson’s [[TC]] rebounded with great vigour (sic) and newly acquired [[TIE]] (non-Jackson) looks good too.  Even the PM’swere not pulling back with the vigour I expected from this mornings sad state of affairs.  My goodness, the worst hit Jacksonian was our highest flyer thus far, Mr. Anderson [[ANDE]], down a little over 3%.    By the way, if he could see his way to $28.40 tomorrow, or close thereby, he would offer an excellent entry for all those seeking his agrarian charms.  

Let’s look at the rest of the Jacksonian Core Holdings list, with attendant commentary:

Name	8-Jun	% Change		Comments
ANDE	$ 29.12	-3.09%		Finally backing off a hot run. $28.40 entry.
EGO	9.27	0.32%		Gapped down, bounced off support & finished up.
GDX	41.30	-0.07%		Got our $40 target and bounced at support.
GLD	93.56	-0.16%		Hung on 20-day and 78% long term fib.
IAG	10.21	1.49%		Beautiful hammer off support, could be ready again
MON	82.79	0.99%		Still battling.
NRP	23.93	-2.33%		Still struggling with that $24 line.
PAAS	21.50	-2.63%		Another long tail doji, good EOD volume.
RGLD	44.10	0.05%		Gapped down, bounced off support & finished up.
SLV	14.76	-1.67%		Tested $14.50 early, then up the rest of the day.
SLW	10.18	-1.83%		Gapped down, bounced off support & finished up.
SSRI	22.13	-1.03%		Yet another hammer doji, this time on the 38% fib.
TBT	57.29	0.61%		$60 next stop.
TC	9.74	-1.81%		$10.96 near term target.  Another hammer doji.
TSO	15.68	0.77%		Wretched, but alive for today.
AVG		-0.69%

Let’s hang together shall we?   I’d rather not hang separately.

____________________

Comments »

I interrupt this heavily precious metal-oriented blog in order to pay homage to The #1 Jacksonian Holding since inception (May 1st, our official/unofficial start date).   Mr. Anderson — [[ANDE]] broke the 70% mark today, in a little over a month’s trading.  

That’s kind a special, so I figure I’d give old “Keanu” a shout out.   Do you begrudge?  Better question — do you own it?

Mind you, I think the PM’s will eventually leave Mr. Anderson in the dust, counting spoons that aren’t really even there.   And believe me, the PM”s are not doing too shabbily as it is, with [[SLW]] up 41.84%,  [[TC]] up 41.49% and  [[PAAS]]  up 39.88%.   All of the golds are in the 30’s as well, with my three laggards being (in order) [[NRP]] +0.66%.,  [[TSO]] + 0.31% and negative nelly-monster  [[MON]] at (-2.76%).   The overall port, thanks to today’s recovery, is just under 26% for the entire period.  

What’s that you say?  Molybdenum’s not a precious metal?  Well it’s PRECIOUS TO ME!

For today I added a little [[EGO]] at $9.57 — my one holding that did not close in the black today (by two cents).   Ironic, no?   Still I wanted to fill that position and I think it’s coiling for a move here.   Everyone else recovered to some extent, but I would not bet my bottom dollar that we are out of the turbulence yet.   No, I shant sound the “all clear” until we’re  above the $400 mark on the $HUI, as mentioned in last night’s post.   We got halfway back, closing a bit above $387  this afternoon.  

As I said, use this time to accumulate positions in the Jacksonians, and in some [[GG]], [[AUY]], [[ANV]], and [[EXK]] — among the other PM’s of your choice.  Soon these prices will be but a dream to you, I fear. 

If you want some non-Jacksonians, I’ve been playing some biotech lotto with [[SVA]], [[HEB]], [[SFE]] and [[CTIC]].   I’m not even going to disclaim those, as if you dare playing with them you are too “certifiable” to hire a creditable lawyer in the first place.  Just. Don’t.

Two quick charts showing Mr. Anderson’s  progress.  The first shown when I laid out the first blog post on the idea, the second captured today:

_______________________________________________________________________________________

And today’s portfolio performance.  Be well all.

______________________________________________________________________

Name	4-Jun	% Change		Comments
ANDE	$ 28.22	6.45%		Up over 70% since 5/1
EGO	9.52	-0.21%		Got  more today @ $9.57 – can ya tell?
GDX	43.51	3.20%		$HUI back above $385 again ($387)
GLD	96.23	1.93%		POG up 2.2% today.  ($983.50)
IAG	10.55	1.54%		Gaps filled, but anemic.
MON	82.90	1.72%		Back to Tuesday’s close
NRP	24.24	3.86%		Healthy recovery for this sluggard
PAAS	23.29	4.30%		Up 5.6% since yesterday’s purchase ($22.05)
RGLD	46.19	1.34%		Low volume retrace
SLV	15.63	3.24%		POS back close to $16 again.
SLW	10.95	3.69%		Closed right on the 50% fib retrace
SSRI	23.97	4.04%		Over the cup again-exactly
TBT	56.00	3.72%		Back over 61.8% fib – $60 next target
TC	10.06	7.71%		Blew right back up again.
TSO	16.06	5.87%		Back in the long term green by 31 basis pts.
AVG		3.49%

______________________________________

Comments »