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What a lucky bunch you are.

No, seriously, you are in for some fun tomorrow, especially if you are a PM “noob,” because we may get a gold and silver sale tomorrow that would put even a semi-retarded Wal-Mart jewelry clerk to shame.

It looks like we’re getting one last final swaller before we do our annual Santa run, and this one may turn out to be fun for short and long term trader’s alike.

I’m not going to show you last night’s price of gold chart again (just click one back to see it), but suffice it to say we are “right on” the 34-week EMA, just as I’d expected.   Seems we made the entire move in one day.   And on relatively light volume.   What does that tell you?  Keep in mind we’ve got COMEX options expiring today as well. 

I announced in The PPT and later on my blog that I had taken the opportunity to grab some more IAG and SLW, as both of those looked ripe for a bounce, even more so than my planned purchase of ANV.  Looking again at the longer term charts, I see that SLW could drop another dollar lower than my $18.09 purchase price, and if it does, you should take advantage.

I think ANV will finally be ripe for plucking tomorrow, maybe as early as the open.   The daily picture tells the tale here:

Looks scary, but in fact, the 200-day EMAhas been a beautiful place to pick up discounted goods in this secular precious metal bull, and you are lucky to see it once again, despite the seemingly perilous status of the situation.   Look again at that three month move from February to May, and keep in mind we are coming to Santa-season sooner than you think. 

Ho ho ho!

My other “favorite” that is looking awfully tempting for tomorrow is my massive EGO.   This time, the weekly has the better view:

 If you can catch this one anywhere near $14.90 (the 34-week EMA) then you are golden, pony boy.

I like SLW and PAAS as your silvers on any kind of gold bounce, but so does Barron’s, so for safety, I’d look at EXK here too. 

Best to you all, and happy hunting tomorrow, you lucky dawgs.

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Addendum:  For  you political types… this is one of the best articles I’ve read all year on the historical and political analysis of our currently “evolved” system of government.   I think Purdy and probably M. Le Docteur would both love it…  Angelo M. Codevilla’s The American Ruling Class, and the Perils of Revolution.   Excellent stuff, really.

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