The Secret To Taking Out the Patriots Next Sunday?
Teahouse ain’t gonna like it, but…. what’s a fellah gonna do when he finds a graphic like that out on Twitter?
But hey, let’s put these Superbowl squabbles aside for now and bask in the glow of some relatively overbought, but still promising markets. From yesterday, some of my bigs, including ANV, RGLD and AXU just did not want to give up their marches northward even with the brief spurt of the dollar and the commensurate minor shellacking of the precious metal commodity markets. Heck, even SLW, AG and EXK, my silver darlings, did not give up much today, despite precipitously overbought conditions.
That leaves us with a bit of a problem, however, as we don’t want to enter or even add to these great weekly stories until we get a bit more of a blowoff. This predicament is not wholly PM-restricted either, as I am hoping for the same pullback in my recently relentless “Stock of the Year” pick, UPS, and my Seventh Samurai servant, MON, as well.
Luckily, I have another Samurai that has been taking a bit of a rest lo these last three trading days, and coincidentally, it happens to be my best performer of the year. Yes ladies and gents, that odd post title did stand for something… the ubiquitous PBR, which hit exactly at that $32 resistance I mentioned when I first recc’ed it, and, like a good Brasilian trophy wife, has sold back in the most delicate manor. Note how the 20-day has now met the 200-day EMA in this nascent recovery of 2012?
I think we may have one, and perhaps two more days of consolidation left in this girl from Ipanema, and I’m hoping for an additional pickup in the $29.25 area, perhaps tomorrow sometime. I think earl is already starting to take up it’s part in the “liquidity wheel” along with gold and silver. This darling will continue to benefit, as will we all.
My best to you.