Not to get overly full of it (hah! me?), but the Jacksons are close to annual highs again. What’s interesting is that most of the recent runup last week occurred on Friday, when the dollar took a significant downturn. Now whether or not this is going to be a headfake or not should be apparent very quickly, I believe.
The only thing that gives me some pause is the [[TLT]] runup here. I just can’t believe that lower discount won’t get a snapback here soon, and with it another pullback in the market. Right now I continue to believe the [[UUP]] will continue to weaken and $USD will head to its lows of $71 again.
No need to mention, if the dollar does continue it’s retrace to the lows, the Jacksons and the other precious metals will continue to soar here. As usual, I like the silvers, but of the non-Jacksons, Golden Star Resources Ltd. (USA) [[GSS]] is the “most ready,” and Allied Nevada Gold Corp. [[ANV]] , [[BAA]] , and Ivanhoe Mines Ltd. (USA) [[IVN]] look tastiest on the gold junior side.
Happy hunting this week.
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| Name/ | % | % | Portfolio | Portfolio | |||||
| Ticker | 24-Jul | Change | 31-Jul | Change | Value | Impact | Comments | ||
| ANDE | $ 30.99 | $ 32.22 | 3.97% | $ 9,728 | 0.23% | Over $32 new highs! Bounced off 20-day | |||
| EGO | 9.27 | 10.00 | 7.87% | $ 9,370 | 0.44% | Huge day on Friday, should cont. | |||
| GDX | 39.90 | 39.77 | -0.34% | $ 12,035 | -0.02% | Another big hop on Friday. | |||
| GLD | 93.41 | 93.35 | -0.06% | $ 10,736 | 0.00% | Lifting off 20 and 50 day here. | |||
| IAG | 11.11 | 10.56 | -4.95% | $ 13,021 | -0.39% | Also lifting off 20 & 50 day. | |||
| MON | 84.16 | 84.00 | -0.19% | $ 13,327 | -0.02% | Over 200 day still. | |||
| NRP | 23.00 | 23.45 | 1.96% | $ 4,867 | 0.06% | 200 day @ 23.70, bo @ $24 | |||
| PAAS | 19.68 | 19.71 | 0.15% | $ 11,838 | 0.01% | Launching through 20/50/200 | |||
| RGLD | 41.78 | 41.08 | -1.68% | $ 11,351 | -0.11% | Above 200, testing 50 day | |||
| SLV | 13.66 | 13.70 | 0.29% | $ 11,129 | 0.02% | Also launched Friday, big move | |||
| SLW | 9.23 | 9.18 | -0.54% | $ 8,917 | -0.03% | Over 20/50/200 again. | |||
| SSRI | 20.08 | 19.67 | -2.04% | $ 11,443 | -0.14% | Over 20/50/200 again. | |||
| TBT | 53.19 | 49.43 | -7.07% | $ 9,847 | -0.42% | $48 looks likely | |||
| TC | 14.75 | 14.55 | -1.36% | $ 11,976 | -0.10% | Coming out of pullback here. | |||
| TCK | 24.49 | 26.29 | 7.35% | $ 17,480 | 0.77% | Just a monster. | |||
| Cash (000) | $ 16.89 | $ 16.89 | 0.01% | $ 16,891 | 0.00% | Same as last week no new buy/sells | |||
| AVG (weekly) | 0.20% | $ 183,957 | 0.30% | ||||||
| AVG (monthly) | 9.85% | Actual | |||||||
| AVG (inception) | 23.07% | Return | 22.64% | ||||||
IVN kicked @$$ on Friday – Looking for a continuation of that run today…
For the General himself:
http://www.youtube.com/watch?v=cuZwyEmmx8s
Yes, IVN looked good, but GSS, even better.
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Aside — I love that square in N’Awlins, pictured above.
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Bought some GSS for shitzngiggs @ $2.55
I love getting in at the top.
It’scalled getting in on the breakout (or retrace)… see CA for further explanations.
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UPDATE: Somewhat related to this post, and dollar death… I predict that this post will become very popular Maestro, My Ass!
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This cannot be a a good sign for the Worshipful.
Ironically, signs such as these may be behind our market rally.
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SLW broke out over the 61.8% retrace on volume this morning, currently forming a nice flag.
I think it’s going over ten, ovah heah.
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As reported exclusively on CA’s blog, I bot 8k GSS @ 2.52.
Also, BAA finally BTFO ($2.24 at last sighting).
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I enjoy your comments Jake. Carry on.
Salut from Montreal.
http://www.youtube.com/watch?v=ZXECIu6brf4&feature=channel_page
Thanks for posting. I am fascinated by accents and I know a little French, but it almost strikes me that that young woman has an “American” French accent — is that a common trait among the Quebecois, or is it merely that French is not her first language?
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Andrea is from Ontario (anglophone) and learned french there giving her a peculiar nice accent. It’s a different accent than of Quebec girls.
You are a perceptive guy Jake. These are example of the typical accent in Quebec.
http://www.youtube.com/watch?v=GchfJd980nI&feature=related
http://www.youtube.com/watch?v=uFUODHE5Y30&feature=related
Ok, back to trading.
USD Weakness Oh thank goodness for Blumeburgh, and there I was thinking the USD was crashing because it was being printed like it was going out of style, and the world was losing confidence in its worthless FIAT properties. But NO, it’s because the ‘world economy is recovering’, and investors no longer require the USD as a ‘safe haven’ , lol!
They gotta fill the rag sheets up w. SOME excuse… you notice they are also suppressing gold here?
Indeed, Jake. But, who knows? Sure the POG chart sure did appear to have a decent build going on until exactly noon in New York, no? The lower it is kept though, the higher the demand, I think, so ‘they’ (GS? JPMorgan? Fed Reserve?) can keep it as low as they want with their BS unbacked paper shorting. It will just end up making me more money in the long run. Like trying to hold a beach ball under water: the bigger the ball gets and the deeper you try to hold it only results in all the more force with which it will eventually surface.
Eggsactly.
When I was working as a Customs Broker, most of my clients were in Ontario and Quebec, and most of those in Quebec spoke French. It was like pulling teeth to find someone who could speak English and then I had to really listen. Beautiful accent up there.
Anyway that leads me to GSS. They are mining in Africa mostly, right? I have no African mines so I thought I should really get that one. Read an article that the Chinese have ceased 330 tariffs on imports from Africa (mostly) commodities. This tells me they plan on buying from Africa. Oil, Gold, Food, Copper, (uranium?). Anyone else have any thoughts on this?
To make a long story short, I ended up buying more EXK instead. Stupid me, but there is still lots of time.
Also Flys’ ALU pick did really well today. I sold too early. Good pick, Fly! (if you are reading.)
What do you think of Geothermal, Biofuel’s, & Uranium, Jake? I think I’m going to concentrate on those with all my gold proceeds coming up (LOL).
I am disappointed in Obama for his apparent bias against us ever becoming energy/oil independent. . I can’t understand this. That would be an interesting post.
As for uranium, I was speaking with the good man from Australia “j” this morning (for him it was ungodly morning) and he mentioned that BHP besides being chockful of many other nutritious mineables, also has a huge amount of uranium reserves.
I’d say BHP is an “IRA keeper” Chanci.
I also own some URRE if you want to gamble some.
SLW is sure a beauty. I think it’s going to at least $20, personally.
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Ultforeign,
The second video, Marie Carmen, was beautiful, IMO. I miss my French Canadian friends! What passion that group has. And living down here in Savannah, GA now…wow. What a difference. They’re beautiful here, too, but I can’t find any foreigners! LOL
Yeah, I have always liked Marie Carmen. Beautiful sensual woman. Hope you are having a good time down in Savannah.
Plenty of oddballs in Savannah. Probably as many Catholics as in Quebec, fwiw.
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We’ve got our house up for sale and are looking to move to Clearwater,
FLA. Too much crime here and my husband hates it here, HATES it. I love the history and the beauty. My daughter (14 yo) was home for two months from school, and her and a friend were harassed to the point of tears (IN OUR NEIGHBORHOOD) by two guys (crack heads?)in a car. They ducked into a store and called me and actually asked the store clerk if they could stand behind the counter with him. She was shaken up so bad, she didn’t leave the house without me for the rest of the time she was here. So yes, we’re leaving. We have two cops as neighbors and both their houses were broken into and guns stolen. We live in a relatively nice neighborhood, too.
As far as religion, mostly Baptists, from what I can tell. But the poverty level is huge here, and I think that is why crime is so bad. Such a horrific pity.
I had no idea. I thought Savannah was a tourist town, like Charleston.
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Quebecois Accents, Les Tetes A Claques At the risk of getting myself in trouble, again…
That’s a good one. lol They also have english versions……
Ya gave me a good laugh so here man, have a good laugh wiith this one….
http://www.youtube.com/watch?v=SsM0Xu-9nzg&feature=channel_page
TGB going loud and proud into the close! Whoo hoo!
At the risk of reopening old woundsTo my knowledge no Canadians feel this strongly about THEIR health care system
Well, you’re at least proof that you’ve got wackjobs similar to ours.
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On the contrary: It is highly unlikely I will ever feel the need to turn my corpse into an IED, Jake. They don’t rescind coverage on technicalities such as ‘pre-existing conditions’ in Canada when you get something terminal or expensive, because the object of Health Care here isn’t simply to ‘keep it in the black’.
No the object in Canada is cool your heels with rationing and hope the problem doesn’t get too out of hand before your treatment is finally available.
That or hoof it to the land of milk and honey, south of the border.
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Chanci,
DId Taseko get the go-ahead to turn Fish Lake into a tailings pond for its mine or some’at? I know there is some nice gold there, but last I heard the indigenous population (whose reserve it is on) were fighting tooth and nail not to allow to go forward what they view as an environmental disaster.
Where is A Jackson ‘Sharp Knife’ when you need ’em, eh Jake?
I never saw a res turn down a way to make some easy cash. Sounds like a shakedown job to me.
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It would certainly be unreasonable to say that that was out of the realm of possibilities.
They increased their copper output by 50% over same quarter last year. I’m in it as a copper play. But on the Fish Lake property this is what I found – http://www.newswire.ca/en/releases/archive/July2009/28/c9004.html
Another small cap copper play (not yet being mined though) is Quaterra Resources. They are a Canadian company whose property in Utah is going to be explored by Freeport McMoran. Volume the last couple of days has been really nice since this announcement – http://www.marketwire.com/press-release/Quaterra-Resources-Inc-TSX-VENTURE-QTA-996645.html
Great links chanci. I think Taseko’s plan is to ‘replace’ Fish Lake by using their mine site ( I believe it is to be a strip mine operation) as a basin for the new lake, once they have finished extracting all the ore, naturally. I dunno if I would eat any of the fish that will be stocked in it, but if it is to be anything like the reclaimed areas I have seen around the Brazeau area, it will at least make a nice water hazard for a golf course. Fish Lake will remain practically forever ‘hazardous water’, however.