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Tag Archives: RUT

The Tide Shall Rise


And you can bet your ass it will be Crimson.

In the meantime, ANV is hitting it’s 200 week EMA and it looks primed for a bounce to at least $30, as do many in the precious sector.  Oversold like a mothahfathah.  Also, the Russell’s (2k and 3k, in fact, all except Smith) look good here and so do the Trannies (UPS!), but I do not trust the NAZTY NAZ, nor the BKX.  Stay away from tech and financials, at least until there’s clarity.

Best to you all, humans.



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Helpless Feeb Trading, FTW! (Or Not)

I don’t usually go for the whole gloating thing, as it’s unkind, and generally karmically challenging.

I’ll make an exception this one time, however.  Call it karmic recognition if you will.   Much to the cognitively challenged’s chagrin, [[SLV]] is triumphant once again, after many weeks of representing second place to Canadians and other luge and curling aficionados.

The dollar index, [[DXY]] , is back below $80.00, currently trading at $79.86. It’s proxy [[UUP]] is below a significant (61.8%) intermediate term Fibonacci line ($23.52), and looks to be heading towards $23.13, it’s next support.

Many of my compatriots are short or heavily in cash. Small traders have one of the lowest call positions recorded since last March’s lows. People cannot believe this market can go up. In short– It’s a basket weaver’s market, and I’ve just finished a fine set of cane-rush patio chairs.

I’d like [[AGQ]] to stay above $55.02, and [[EXK]] to stay above $3.36 first, and then $3.61 second.   Near term target is $3.76, but I’m holding for the long term.  [[SVM]] is approaching a very important 61.8% fib line at $6.99, and if it should break it (I don’t think it will on first try, frankly) then it should run right to it’s recent highs at $8.00.    Last, [[PAAS]] is good to go over $22.35, and it’s next stop should be in the $26.50 recent high area.

My favourite, Silver Wheaton Corp. (USA) [[SLW]] is labouring (sic) on low volume here, and needs to get above $15.95 in order to “release” to the recent highs of $17.80.   It bears watching, while bears are watching.

Here’s what’s giving me hope for a bullish continuation even amidst the ursinity of my peers… The Russell (I use RUT or [[IWM]] to track it) is breaking out ahead of the [[SPY]] .     If the [[DJT]] and it’s representative United Parcel Service, Inc. [[UPS]] can continue north and break above recent highs, then I will have further comfort.

Until then, please be sure to purchase plenty of technical trading books.  Those authors need to eat, too, you know.


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I Got Good News and Bad News

I got good news and bad news on the market  front, ovah heah.   The good news is, I’m going to show you my Russell 2000 chart ($RUT), which I’ve been using to parse the market since before the first bank meltdowns of late 2007.   You see the Russell, even more than the [[SPY]] in my opinion, gives you a better view of the “overall market” than any other index.    You can also check it’s volume using [[IWM]] it’s ETF.

I find that the Fibonacci retracement lines work very well in analyzing the Russell as well.   Take a look at where where we found ourselves this morning:


As you can see we are bumping up against one of the stronger Fibonacci “Golden Ratio”  (inverse) lines at 38.2% (the other being the actual Golden Ratio of 61.8%).   I expect that means at least some sort of rest stop here.   That said the “good news” is that 13-34 week cross which implies further bullishness should it continue.   As I have attested, and I think even Woodshedder has agreud (sic) — the 13-34 week “golden cross” is one of the most significant bullish or bearish indicators out there.   

Let me know what you think, but don’t be surprised if I disregaurd (sic) your thoughts in a cavalier, dismissive way, whilst inserting snuff up my nose, all atop my “knee-controlled” white charger.

One other point — some of these biotech unpinned hand grenade small craps are pulling back a little today, and since I sold off 2/3rds of my [[HEB]] -brews yesterday, I may dip back into the Red Sea to rescue some more pedestrians today.    I also like [[IMGN]] here (thanks Henry!), but will not add more as I am “full up” to the brim with it.    [[SVA]] also bounced nicely off it’s trendline today, but I’d wait to see if it drops back to $2.90 before taking a chance on any of it.    The last insanity is [[CTIC]] which has been a darling of The PPT, along with [[BEE]].   I think the latter looks a lot more promising, but have not gotten any yet. 

As always, I recommend you stay as far away from the above paragraph as you would a Mossad Hit Squad with your name at the top of their list.   There’s no question your purchase of any of the above will warrant a quick waterboarding, coupled with a full-torso Obama campaign sticker “body bind”, finally finished off in a late night rowboat assisted drop into The Great Salt Lake, where you will bob for hours, your pitiless cries ignored by disinterested Mormon seagulls.

On the precious metal front, as I suspected, more pullback, but the metal rustlers cannot disguise all — [[PTM]] looks strong here, comparatively.   Slow and steady wins the race, old boy.   Best to you all.


Update: I bot 2k more HEB to take with me across the unpaved Red Sea @$3.10.


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In the Presence of Tree Goats

Not to be disparaging, but I’ve felt I’ve spent the week with a squadron of flying goats.   There you are flitting from tree to tree looking for the best green shoots, ears up and horns out,  “baaaaahhhing” it up to beat the band.   

Chips stocks!  Cancer stocks!  Lenny Dykstra Car Wash franchise stocks!  Get ’em while they’re hot from the chute!

But why must you make your lives so difficult?  There’s no reason to search for rare buds in the top branches of the acacia tree when there’s plenty of bull grass right here on the ground.   Come down from there and take a look at the freshly scythed alfalfa I have gathered for you, my yellow-eyed friends

Remember our weekly $HUI chart from last week?


Well, look what’s happened this week…. Pop!


Can anything be more promising than that little green bud out of the consolidation zone?    And yes, we’re a little overbought here, and should be coming into some more resistance around 400 or so, but we should welcome that opportunity.  

After all my boy, it is a bull market — and maybe the only one you’ll see for years to come.  So relax some, take a load off, and get your nets ready.   It’s almost harvest time again.

This week’s Jackson Core Holdings Portfolio results were very pleasing, especially as measured against the indexes.   So have some nice goat cheese this weekend, and maybe try to pause a second whilst hoisting that relaxing beverage to remember those who have served, and especially those who have fallen in order that you could enjoy this great country.    Be well.

Name 5/8/2009 5/15/2009 5/22/2009
ANDE  $    21.50  $      21.31 -0.88%  $    23.34 9.53%
GDX        37.46          37.65 0.51%        42.05 11.69%
GLD        89.98          91.55 1.74%        94.45 3.17%
IAG          9.92            9.83 -0.91%        10.86 10.48%
MON        86.42          89.95 4.08%        86.61 -3.71%
NRP        23.39          21.29 -8.98%        22.21 4.32%
PAAS        19.35          18.66 -3.57%        21.42 14.79%
RGLD        39.90          39.97 0.18%        44.26 10.73%
SLV        13.79          13.77 -0.15%        14.50 5.30%
SLW          8.91            8.58 -3.70%          9.34 8.86%
SSRI        20.06          19.06 -4.99%        21.73 14.01%
TBT        52.24          49.13 -5.95%        53.57 9.04%
TC          7.98            7.65 -4.14%          8.64 12.94%
TSO        16.72          16.60 -0.72%        16.23 -2.23%
    AVG -1.96%   7.78%
Name 5/8/2009 5/15/2009 5/22/2009
SPY  $    92.98  $      88.71 -4.59%  $    89.02 0.35%
QQQQ        34.23          33.37 -2.51%        33.54 0.51%
DIA        85.47          82.78 -3.15%        82.87 0.11%
NDX   1,394.16     1,355.11 -2.80%   1,363.17 0.59%
RUT      511.82        475.84 -7.03%      477.62 0.37%
    AVG -4.02%   0.39%


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