Not a lot of time for explication on this one, as I’ve got a lax game to get to. I’ve owned IAG (NYSE) (PPT: Buy) on and off, and have had a small amount since the $HUI started looking good again, back in March. I went back in and got some more today on this consolidation breakout, at around $9.25. I will probably will wait for a test of that zone to get any more.
In any case, I’m officially putting this one in the Jacksonian Core, as I believe it’s “all grown up” now, and ready for long term hold. I think you can see from my notes on the daily and weekly, why I think it’s an emerging power. I like stocks that break out from long consolidations, especially when the market favours (sic) their sector.
And the Weekly:
Important: Special thanks to Cap and his Joisey Harem for posing for today’s illustration. Best to all.
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So we meet again, Goldfinger…
http://www.chem.queensu.ca/people/faculty/loock/Goldfinger%20laser.jpg
Nice bloggery. Going to keep an eye on the Jacksonian Core.
– Do you expect me to talk?
– No, Mr. Bond. I expect you to die!
Still one of the best Bond movie lines ever.
Jake that has to be one of the scariest pictures I’ve ever seen posted on this here blog.
For the sake of continued good relations please for the love of all things good, do not post another pic like that.
*twitch*
When you say IAG lookin good for long term, whats your definition of l/t? 2 months? 6 months?
Wow .. impressive TA
GSS reported a good Qtr, as did GG
Dude looks gay as shit…not that htere is anything wrong with suckin cock
Maelstrom- are you calling Cap gay?
Not that there’s anything wrong with calling Cap gay.
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Bluth- no, “long term” means long term, like for the extent of this bull cycle in gold, which I expect to last anywhere from another one to four years.
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Bruce- I expect to see the $HUI at 375 before our next rest. Low energy prices and strong PM prices are a good combo for our miners.
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Cool – I mean, thats what I figured, but most “long term” trades from the iBC fam means like 2 weeks. ha.
Gold is for fools and eejits.
Anonymous Douche– then by all means, stay away from it, smart guy.
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Jake,
If (when) the IMF sells their gold, might be a better entry, no?
IMF answers to their gold holdings and possible sales:
http://www.imf.org/External/NP/EXR/faq/goldfaqs.htm
“If gold is sold on the market, rather than to another official gold holder, the Crockett Committee recommended that such sales be phased over time in order to avoid disruption of the gold market.”
Golds has already gone parabolic and bounced around 1000 twice. What makes you think it will keep going?
Sure —
As “Old Turkey” told Jesse Livermore:
“Well, this is a bull market, you know!
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I recommend reading E8’s article, especially the part regarding the IMF’s reasons for holding gold in the first place.
It is the same reason we do.
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Thanks Jake . . . good article. So you think we have yet to go through that “third stage.”
Jake, here’s my problem with the Jacksonian Core. Barely up or flat today while my other long holdings (minus FTK) are pretty much kicking ass.
It’s hard to allocate funds into these names when I see stocks running all over.