Sorry for my lack of attendance today, Jackson fans, sometimes I have to attend to things that are in the market but not of the market.   If that sounds vaguely quizzical, then it’s served its purpose.

Unfortunately, whilst returning from one such errand, I noticed one of my stops had triggered.   I say “unfortunately” because I am a very reluctant seller of any Jacksonians, unless I’m a full seller, as in the case of the unabashed drunkard Tesoro Corporation [[TSO]] (which continues to toddle down the streets of Skid Row, stopping only to barf on the brogans of the local constabulary).

   Unable to part with my Monsanto Company [[MON]] altogether, however, I had set a stop on half the shares upon a break of $77.25.   Much to my rue and deep chagrin, said stop was triggered today, and I was left with only half my position.   Offsetting that mournful loss was the addition of another $4,530 in cash with which to gamble at quoits whilst smoking Churchillian Monte Cristos and imbibing  tinctures of absinthe & laudanum.

One of these days I will get around to giving you a picture of the actual shares and dollar amounts of these holdings (hint– they all started at $10,000 each) , so it won’t all seem such a smokey mystery.   In the meantime, you’ll just have to make due with the raw return numbers as you have been doing, along with an idea of the cash talings left over from various sales profitable and not so.   

One last point… the “Three N’s of the Apocalypse”  NovaGold Resources Inc. (USA) [[NG]] , New Gold Inc. (USA) [[NGD]] and Northgate Minerals Corporation (USA) [[NXG]] all looked very healthy today, as did Jacksonian Eldorado Gold Corporation (USA) [[EGO]] .   It seems the golds are making out a bit better than our silvers, which have been hit by the same “industrial malaise” that afflicted not only Jimmy Carter throughout the 70’s and up to today, but even our faithful friend and ally, The Fly.   Even Teck Cominco Limited (USA) [[TCK]] which has made a valiant rebound, seemed tired by Bernake’s machinations today. 

What can one trust but the original money, one asks?  What indeud?

Name	23-Jun	24-Jun	% Change		Comments
ANDE	$ 28.23	$   28.84	2.16%		Weird candle today. Stochs turning up.
EGO	8.07	8.51	5.45%		Nice continuation.  50-day @ $8.60
GDX	37.33	38.49	3.11%		Back over the 50-day quick ($38.20)
GLD	90.92	91.45	0.58%		50 day @ 91.60, POG $931
IAG	9.58	9.99	4.28%		Nice continuation.
MON	79.30	76.16	-3.96%		Sold half (58.65 shs) @ $77.23 (note cash below).
NRP	20.65	20.92	1.31%		Still hanging in there, facing my wrath
PAAS	18.31	18.47	0.87%		Still weak, as is silver in general.
RGLD	42.43	43.74	3.09%		Broke the downtrend line nicely.
SLV	13.62	13.68	0.44%		POS still under $14.
SLW	8.21	8.34	1.58%		Still looking for 200 day EMA @ $8.40
SSRI	17.99	18.65	3.67%		Still having trouble getting over 200 day EMA
TBT	51.85	53.03	2.28%		Treasury auctions over, I guess?
TC	9.42	9.63	2.23%		Rebounded, since I sold more, of course.
TCK	15.51	16.12	3.93%		Still bouncing, but w. less vigour (sic)
TZA	25.57	24.86	-2.78%		Down, but not as much as you’d think. Holding.
AVG (daily)			1.77%
AVG (monthly)			-8.02%
AVG (inception)			13.09%
Cash ( 000’s)			$       8.67

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Well it was a day so full of hammers in the Jacksonian portfolio that we could have built a break front works that would have repelled the stoutest of cavalries.  You can see my comments in the notes about them, but generally a lot of hammers means that you are seeing final bottomings in stocks as they open high, chase a bunch of sells lower and then close high again, working out final selling positions.

I say this happens “generally,” but we shall see what happens tomorrow.    The good news is we’ve gotten to pretty oversold conditions in almost all of the Jacksons, so those of you who have been picking up bargainst these last few days, bravo.   I think we shall see some action as we head towards the end of the week.   As it’s options expiry, I hope it’s not that X-rated kind of action no sensible gentleperson wants to see.

I was doing some work on fibs, but I have to run to a lacrosse game, so my findings will have to wait until an addenda is readied with my findings.   Let’s just say these ten year fibonaccis are, in the words of Commander Spock “Quite fascinating, Jim.”

Many apologies to those not named Jim.

Here are the “notes,”  I will talk to youse latah.

Name	16-Jun	% Change	17-Jun	% Change		Comments
ANDE	$ 29.04		$ 28.88	-0.55%		Still in triangle consolidation.
EGO	8.51		8.65	1.65%		Bullish engulfing, two days black now.
GDX	38.37		38.23	-0.36%		Nice hammer on the day, despite slight down.
GLD	91.93		92.35	0.46%		POG $940, beautiful hammer.
IAG	9.54		9.65	1.15%		Hammer off the 23.6% fib, too.
MON	81.62		81.08	-0.66%		Opened down, nice recovery.
NRP	22.44		22.13	-1.38%		Red hammer just above the 38.2% (22.05)
PAAS	20.74		20.39	-1.69%		Held support at $20, oversold like a mothah!
RGLD	42.90		43.73	1.93%		Bouncing on 43.50, another EOD selloff?
SLV	13.99		14.12	0.93%		POSilver @14.34, $13.80 support held
SLW	8.92		8.80	-1.35%		Hammer on $8.50 support, nice trade PPT!
SSRI	19.62		19.22	-2.04%		I bot it one last time as promised! $19.02.
TBT	53.59		54.17	1.08%		Bot back 1/2 my calls today as promised.
TC	10.68		10.50	-1.69%		Caught support @ 9.60 and then took off. Hammer.
TSO	14.98		14.98	0.00%		Is TCK the replacement, let’s hear your vote!
AVG (daily)				-0.17%
AVG (monthly)				-7.44%
AVG (inception)				16.22%

______________________________

PS — note the final comment on TSO, which goes away soon.  I am seriously thinking of adding [[TCK]] which I added today at $15.04, to the Jacksons.   It’s only serious competition is [[BHP]].  What say youse?

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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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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 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 »

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.

_________________________________________________________

		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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