Sheesh, I sure am glad I put that caveat in there yesterday, because all those nice high topped hammers I saw yesterday did nothing but crash off my dome all day long today.  Let’s face it, I’m starting to get a little tired of this pullback (down over 9% this month!), m’self, and even more so given the relative reasonableness of today’s market on the specifically non-Jacksonian financial sector today.  Talk about a victory for the bloody Redcoats!

That said, I haven’t stopped picking up shares in various stocks that I consider bargains at these prices.  I’m just flabbergasted at how low ((SSRI)) and ((PAAS)) and ((SLW)) have gotten.  I bot more SSRI yesterday, and got another 2k of SLW today (at $8.26 on the gap fill), so I guess tomorrow is PAAS’s day?

For those of you who have been accumulating slowly here, bravo.  The Jacksonian Portfolio is defintely a Spartan marathon and not a dash to the corner deli for a pack of Kools and a pint of Sunny Delight.   This “bucking bull” volatility is going to be here for the duration,  so we’re going to have to “get in shape” by taking some cash off the table from time to time, like I did with ((TC)) the other day.  

As you may recall, that 1/3 TC sale and the liquidation of the original TSO position left me with some $14,607 in cash from the original portfolio.   I finally decided to put the bulk of that to work with an initial $10k position in ((TCK)), as we’ve contemplated.  It didn’t hurt that TCK was having a good day, let me tell you.  Now I have $4.6 k left in cash, and soon I’ll begin incorporating the cash component into the overall returns as well.   It doesn’t make any sense to take profits and then not incorporate that into the total return of the portfolio. 

As well, I’ve decided to be a bit more “illustrative” in this account by dealing with hedging in a different way than I do in my personal account.   As it’s too complex (and annoying)  to incorporate the short calls I usually use to hedge my portfolio, I will more simply sell portions (or all) of the  Jacksonians in order to accrue cash in the portfolio and take risk off the table.   I think that will probably be easier for you all to follow as well.   Your comments are welcome. 

I haven’t much in the way of commentary on the Jacksons today other than my notes below.  I will say that we continue to be brutally oversold, and we are due for a cycle low here in the precious metals any day now.  I continue to believe you will be rewarded for your perseverance here. 

Because I felt bad about all these bloody Jacksons (save TCK) I figured I’d dig up one “present” for tomorrow… a non-Jacksonian I did the fibs on tonight is [[MTL]] — Mechel OAO.  Coking coal, steel, molybdenum, it’s got it all.   I like it because it touched beautifully off the23.6%  intermediate term fibonacci line today and it looks like it’s ready to go again.    The other one I like for tomorrow we’ve already discussed… PPT favorite [[SPAR]].  Best to you all.

Name	17-Jun	18-Jun	% Change		Comments
ANDE	$   28.88	$     28.18	-2.42%		Will sell half on a break of $28.  Gap fill at $26.60
EGO	8.65	7.97	-7.86%		Trend line @ 7.78.  Bearish engulfing says we get it.
GDX	38.23	37.20	-2.69%		Failed hammer, back to support.
GLD	92.35	91.60	-0.81%		POG $934, within yest range
IAG	9.65	9.10	-5.70%		Sell 1/2 on break of support @ 8.75
MON	81.08	82.30	1.50%		Cramer beat it up tonight, a net positive.
NRP	22.13	21.95	-0.81%		5 red days in a row? C’mon already!
PAAS	20.39	18.59	-8.83%		Uptrend line at 17.95. Pssin me off.
RGLD	43.73	41.98	-4.00%		Hammer doji on trendline, EOD buying
SLV	14.12	13.97	-1.06%		POSilver @14.24, inside day
SLW	8.80	8.30	-5.68%		Filled that last gap at $8.27, bot 2k more $8.26
SSRI	19.22	18.13	-5.67%		Do not like this action one bit.
TBT	54.17	55.76	2.94%		Gap @ 54.21.  Could come back once more.
TC	10.50	10.50	0.00%		Perfect doji day.
TCK	15.31	16.28	6.34%		Nice first day on the job.
AVG (daily)			-2.32%
AVG (monthly)			-8.32%
AVG (inception)			13.91%
Cash ( 000’s)			$       4.61

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The market is meandering all day, so I’ve been out eating samitches (sic) and picking mushrooms.    Looks like our precious metal pullback is continuing as expected.    I hope you are taking your time, but picking up some of the Jacksons you have perhaps neglected in weeks passed. 

[[SLW]] in particular looks tasty here, having filled that gap and then some at $10.04.  It’s now proceeding to fill the gap it created this morning at $10.29.   Someday, you will revel in these prices.

From the picks I went over on the weekend, you’ve had opportunities to buy all of them cheaper than Friday’s close, but most have gained back a lot of what they lost this morning (recognizing that [[ARTC]] hadn’t lost anything).    [[TIE]] continues to look like it wants more here, as does Fly’s favorite [[TRID]].

I really hope you took care of the “Devil Dawg Special” in [[SPAR]] this morning, as that perfect contra-indicator gave it his very special “Great Short” blessing, ensuring that it will continue making your grandchildren millions even when you are moldering in your platinum encrusted marble and jade pineapple coffin.

Seriously, it’s not often one gets blessed with a “reverse Devil Dawg.”  Don’t let this opportunity pass you by unattended.

Disclosure:  I bot 1000 shs [[SPAR]] @ $10.07.   Don’t cry to me, you could have gotten it in the nines! 

Targets for some PM’s?  — I’d love to get more [[AGQ]] @ $47.70

More [[EXK]] @ $1.75

More [[NG]] @ 4.75m

More [[GG]] @ $34.35

More [[SSRI]] @ $20.50 (back up the freaking truck)

More [[RGLD]] @ $43.10 (see above)

More to come later, but CAVEAT:  if you join my purchases at the above prices, above shown Devil Dawg will come to your house and give you all of his kibbles and bits.   And you may lose money.

Best to you all.

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Update: I forgot to add that biotech jumping bean fizzing hand grenade [[HEB]] is looking like it might be on the comeback trail again, ovah heah.  Proceed with extreme caution.

Update: Bot 2,000 TIE @ $10.75.

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Don’t says we never gave ya nuttin’.   [[SPAR]] is currently #4 on the PPT’s Top Ten List.  

The fib lines are a bit thick, but the price closed on Friday a good 15 cents north of that long term 38.2% line you see there, at $10.49.  

You want to know who is numbers one through three?   Sorry, I am not at liberty to disclose…

I’m afraid you’ll have to ask the site’s proprietor. 

Who knows?  He might have eaten some bad mussels last night and as a result become inclined to sudden spasms of generosity.   It is Sunday, after all, and stranger things have happened on Sunday.

Best to you all.

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