Wins abound so winningly today that even I — who have not been known for having problems with the art of braggadoccio — am having trouble incorporating them into a proper bombastic theme.
Perhaps I will just recite double digit-winship Jacksons I’ve pushed like IAMGOLD Corporation (USA) [[IAG]] , [[PAAS]] , Silver Wheaton Corp. (USA) [[SLW]] ?
No, perhaps I’ll be more reserved and only mention the Jacksons that were up over 9% today, like [[GDX]] , Eldorado Gold Corporation (USA) [[EGO]] and Royal Gold, Inc. [[RGLD]] ?
Maybe I’ll “take a knee” and mention the Jackson– Silver Standard Resources Inc. (USA) [[SSRI]] — that was only up over 8% today?
No, no… humility demands I mention Thompson Creek Metals Company, Inc. [[TC]] and [[TBT]] — but just don’t cry to me that I didn’t warn you about their risks. I still think TBT goes to $44.90 or so, but I think that’s also a nice place to purchase, fwiw.
As for other “down Jacksons” — Monsanto Company [[MON]] was off a touch, but I think The Andersons, Inc. [[ANDE]] is ready to re-launch again, as early as tomorrow.
All in all today was an EPIC day. Like freaking Gilgamesh or something.
Please keep in mind that my thesis is “this is only the beginning” on the PM side. So stock up. Don’t forget “non-Jackson” rec’s like Goldcorp Inc. (USA) [[GG]] , Allied Nevada Gold Corp. [[ANV]] , Golden Star Resources Ltd. (USA) [[GSS]] , Rubicon Minerals Corp. (USA) [[RBY]] , New Gold Inc. (USA) [[NGD]] , Northgate Minerals Corporation (USA) [[NXG]] and let’s not forget NovaGold Resources Inc. (USA) [[NG]] .
Stocks I don’t own, but am eyeing include Seabridge Gold, Inc. (USA) [[SA]] , [[LIHR]] and Yamana Gold Inc. (USA) [[AUY]] .
Why meddle about with refiners and earl and even natural gas when the winnings are so laid out like a banquet? I know not. Perhaps for masochism’s sake?
Best to you all.
___________________________
noice!
Great job!! How long do you think these positions or similar ones have to go? Should we expect a pullback and then get in or just get in and ride out a downtrend, while waiting for an upturn?
Since I’m solely with The Profunds, I had planned to get in PMPIX, but missed the big move up today. God it was sweet! Problem is I have to get in at end of day and then wait out a downturn forever if it lasts too long.
Question is, what’s your sense of the length of this move? Where do you think precious metals will be down the road. Do we have legs here?
I think we have at least another 18 months. Seasonally speaking, we should run into Christmas, if “tradition” holds up.
Watch for a break of $1,000 on gold… maybe a little pop over that, and we should get a pull back. The great thing about precious metals is that there are always pullbacks. And they are often painful.
Gird up.
________
Jake,
It seems that you’re willing to hold things for awhile. Is that correct?
Also, do you have a method for saying WTF this isn’t working?
I will trade around some long term positions using options and maybe taking or adding here and there, but for the most part, yes, these are long term positions.
I believe the prices of silver and gold (and platinum) are in a secular bull market that started in 2001 and will continue to a blow off top in the next two years. If gold drops below $850 again, I would likely reassess at that point.
__
Nice calls Jake.
Thanks Lung Sac… don’t be a stranger.
______
Thanks Jake, I’m a happy customer. The Jackson’s are working as advertised. I’m trying to get my PM exposure to around 5%. The plan is to buy on dips. I still hold NGD (+31% part position) and EGO (+15% full position). I took profits in TBT when 30 yr rates hit 5% back in June (+37.6%, double position). I’m still working on a way to trade TBT based on rates. I’ll post in over in PPT or PeeG when it’s ready.
jake yesterday was an epic day…and with no support from $ or other commods..interesting.,.Yamana is good i own a bunch…know them well…sold a bunch of non core assets…could be an attractive takeout for ABX or KGC..on Seabridge be careful and do your due diligence…they have some less than A-1 guys who have had bad blow ups, a low grade property in socialist BC where permitting is a challenge…smells like a stock promote to me….KGC is probably the best run company of the biggies
I always forget about KGC. Ifon’t know why– it’s like I have a mental block or something.
__
I hope we get a serious pullback and soon ha! Sold my metals yesterday for tidy profits but if we don’t get a pull back I will of left with an appetizer while forgoing this banquet of sorts you speak of.
Either way very pleased with the way they performed. i just hope EGO dips lol I’ve held it through all the rips and dips and yesterday decided ‘fuck this, i’m selling this rip’
That said, I’m an aggressive dip buyer!
I am neither smart nor nimble enough to trade in and out of these fast movers, but I’m curious as to why you’d sell out of an initial break like this clearly was?
__
I’ve seen this thing go like a yo-yo so I figured it will probably yo yo again. I mean I got in at 10.70CDN I’ve had it down to 8’s and up to 12:40’s.
The move could be in 3 days or 3 months. I’m hoping the latter for obvious reasons.
That said I may of left with an appetizer and missed the banquet… Let me tell you I’m hungry.
I’d ease into some stuff here… we could get more parabolic days until we break $1k on the POG.
______
Good call, I almost rebought some EGO (ELD.TO) at the open for $11.80.
Thanks for the prompt replies, appreciated!
P.S GLD Just went ape-shit a few minutes ago jumping almost a $1
Jake – you familiar with EXK..Endeavor Silver..or Great Panther Resources..both in Mexico..gracias
Yes, I’ve a big position in EXK, and I’m not sure why I forgot to mention it, as it had a significant move yesterday.
__
EXK…seems like a good silver leverage play to me
When I saw goldies breaking out yesterday, I could not help but think that Jake must be grinning from ear to ear… Good day sir!
How about that old Tanzanian favorite TRE?
I guess it doesn’t matter in the short term as I bought it yesterday in AM and I am about to sell it NOW.
jake is god. (To borrow a well know expression from a distant blog site).
Please, spare me. “Even a blind pig,” etc., etc., etc.
__________
Jake – just for grins & giggles, what is your guess of Gold’s high?
Near term? $1600.
Ultimately? Depending on our situation w. the currency, I think gold could go “one to one’ with the Dow.
That could mean 3k or 5k, or even 10k. (Shrug).
_______
LOL @ HLCS… what a crack whooah.
______
LOL@ SVA… another whooah. Wish I were more of a trader.
_____
GSS = BTFO!
_______
You better buy a Powerball or Megabucks ticket today…
Not sure I need one?
______
Congratz on the wins and the accolades Jake. Be nice to all the ‘fair weathers’: shave it before they kiss it.
FWIW: NXG seems to have some sort of weird synchronicity goin’ on. Check the pennies on the CAD version.
NGX.to share price 2.85 CAD, POG 985 USD; NGX.to 2.45 CAD, POG 945 USD, and so forth and so on.
Buy signals when NGX.to CAD pennies drop below last two integers of POG in USD, sells when they pass it. Been ‘arbitrage’ ing me FIAT currency like it’s goin’ out of style. Which I suppose it may well be.
That certainly is an odd correlation… how long has it been goin’ on?
_________
For a general idea of how it has been working FWIW (caveat emptor, my friends):
All NGX.to prices in CAD, all POG’s in rounded USD, with most prices at, or close to NY close, but at the very least simultaneous.
(B)= buy signal, (S)=y’know
Aug10 NGX 2.45 – POG 945
Aug11 NGX 2.35 – POG 945 (B)
Aug12 NGX 2.43 – POG 946
Aug13 NGX 2.57 – POG 954 (S)
Aug14 NGX 2.44 – POG 947
Aug18 NGX 2.33 – POG 937(B)
Aug19 NGX 2.40 – POG 942
Aug20 NGX 2.40 – POG 940
Aug21 NGX 2.39 – POG 954(B)
Aug25 NGX 2.40 – POG 945(B)
Aug27 NGX 2.39 – POG 945(B)
Aug28 NGX 2.46 – POG 955(B)
Aug31 NGX 2.44 – POG 951(B)
You see where this is going. This is all the days for which I have records. But I think you will find it has been going on even longer….
POG less than $11 away from $1,000.
Hold all tickets.
________
RBY and CDE are now BTFO. I may add some CDE here on this break. There’s literally about 30,000 feet of free air on that sucker.
NGD is next, btw.
Over 3.76 is “BTFO.”
release the hounds with a close over 1006 gents
POG now less than $9 away from $1000.
Will it break today?
_______
Holy crap! Now even the $HUI has broken out over the June highs ($404.54) and is currenlty over $407.
I threw that out last week as a longish term goal… and here we are already! Sheezit.
If that holds, we are visiting the moon, Alice.
_______
CNBC-Grasso..says Gold is up cause of a good jobs report tomorrow….go fuck a cat…
POG less than $4 away from the magic $1k.
____________________
Sold my September $26 and $28 GDX calls at $17 and $19 respectively… banking triple coin (at least) on each.
Still holding the 40 $34 strike September calls I bot for around $5 a couple weeks back.
______
Can i quit my job yet?
Yes and on your way out don’t forget to key the car belonging to your boss.
And then send in Chuck Bennett to be interviewed as your replacement.
Don’t worry DMG, you wont have to quit, it’ll be gone in a month anyway.
Stop sucking so much cock, it’s rotting your brain.
Lest you forget, i make the dream of home ownership a reality.
Whoa, “take it easy, Francis”. Vent any more spleen and you will have one helluva time fighting off your next case of swine flu.
And I can’t forget what I didn’t know, or even really care to know for that matter. But hey, now that I am aware you are in the business of putting pple in debt so far beyond their means it can only be defined as surreal: good to know. Unfortunately, I think this may have had the opposite of the effect that you had hoped for on my respect for you . IE I am not really all that impressed: I don’t need to dream of home ownership. And if I did I certainly wouldn’t be happy to be forced to count on someone as vitriolic as you.
Stop being such a passive-aggressive homo.
Not that there’s anything wrong w. that.
_______
Oh sure Jake, take your nellie’s side. Not that there is anything wrong with that.
Sorry, I’m not familiar with the terms used within your “lifestyle.” Is that what you guys call your “boyfriend?”
_______
Hah, I highly doubt I will ever ‘Kiss Jack’ I leave that to the Bocce players. See there, I’ve never played the game, but I can be spuriously familair with the lingo. I guess the opposite is true of you and DMG.
LOL – i give a rats arse about you and your slum-dwelling respect. I wasn’t bragging about my job, fukstick – just letting you know i’ve made more in the past 6 months than you can hope to make in a year.
I don’t put people in debt, i put little queefs like you in petite wooden houses, six feet under.
RE:”I don’t put people in debt, i put little queefs like you in petite wooden houses, six feet under.”
So what, then? You’re a murderer, or an avaricious merc’ or some’at?
What kind of a sociopathic freak would be proud of that?
If that is the case:
Ans. YES, now is the time for you to quit your job. And please, for everybody’s sake, get some therapy.
And:
“Lest you forget, i make the dream of home ownership a reality.” is a metaphor for “…just letting you know i’ve made more in the past 6 months than you can hope to make in a year”?
Wow, you’re like totally deep, man. So deep you’re opaque.
Ha ha –
I love it…you are such a punk.
I mentioned my job because it will always be available – in response to your snide remark, “it’ll be gone in a month anyway.”
As far as you sucking cock for a living and paying the slumlord rent (or is it still in mommy’s basement?), well that is the life you’ve chosen.
Sheesh, you’re one fragile babbit, aren’t you? Honestly DMG, I really didn’t mean it that personally. It was meant to be more of a comment on the state of the US in general; you should try not to be so sensitive. It won’t serve you well when XE herds you and yours into that FEMA camp.
Slumlord? Mom’s basement? Yah, not really the thing for me and my family. I mean, to hear you talk I am sure our house isn’t the Baghdad Palace yours is, but we like it, and its in one of our city’s best neighbourhoods. Not that it is really any of your concern, weirdo.
As far as,
“As far as you sucking cock for a living and paying the slumlord rent (or is it still in mommy’s basement?), well that is the life you’ve chosen.” I am thinking bitterness like this can only come from one source: one who is actually living it. Good luck with that.
GF: “you are in the business of putting pple in debt so far beyond their means
it can only be defined as surreal”
GF: “I am thinking bitterness like this can only come from one source:
one who is actually living it.”
Falling a little behind on the mortgage payment, piker?
now, be a good little ditch-digger…and fuck off.
Wrong and wrong again DMG. You obviously haven’t been following my calls on IBC, and those have just been the bones I’ve generously thrown to dogs like you! In fact, animosity like yours is one of the reasons I’ve been holding back blogging picks lately on this site. It’s far more fun for me to watch you and your ungrateful, belligerent ilk chase their tails and beg for treats from guys like Jake. ‘Piker’? Hunh, as if you’d know. Maybe I am to a self-proclaimed ‘big swinging dick’ like yourself, but hubris like yours is usually just a self defense mechanism for someone who in reality is trying to compensate for something.
FTR: I have a healthy respect for those who can graft as hard as a ditch digger. Which is much more than I can say for my opinion of an arrogant self-important prick like you.
“You obviously haven’t been following my calls on IBC”
Your truest words yet, dick-knuckle.
Oh please, please GF throw me a bone! rofl
Belligerent, yes, puisssssy… so tread lightly or i shall have to tell you twice.
Again ‘FTR’ i don’t give a cat’s shaved ass about your opinion as you are not qualified to eat the peanuts out of my shite. Ba-ka-ya-ro.
Cramer will recommend gold at 1,250 an ounce…odd no..? good sign CNBC..(cunt news broadcasting corp) is downplaying gold move..
Cash — is that a fact or a speculation?
_________
PS — I added another 2k of CDE here at 16.83 and $17.05.
__________
factual..i know a guy, who knew Madoff..who talks to Cramer in a parking garage,, after single malt scotch’s
Who would have guessed that Seibel Systems’ Tom Seibel was a Democrat?
_________
In NGD as a swing Jake – heroic week for the Jacksonians – thank you good sir!
Most welcome. Take a look at IAG, RGLD and CDE here, too.
The cup overflows.
_____
IAG up 16% today! Great Jackson’s Ghost!
___________
Well iBC’s infamous Josh is at it again, and this time in an even dumber way than before:
Yesterday….
j0sh1ngU 21 hours ago
Gold signals inflation, which is a bullish thing becomes with inflation everything theoretically has more $ value. This is not the case. Stagflation/inflation will occur further in the down cycle. In matter of a fact, I shorted GLD today with puts. Yes it had a big up day on great volume, however, it hit my TL on the dot. As noted in disqus I said 96.24-26 I would short more GLD(I covered some with a gain earlier in the day). From here on out I expect GLD prices to crash and the dollar to rise. The three charts below show this. Silver chart shows a different picture which I am unsure about. Silver is more volatile so this could be the case and something to watch. Silver also seems a little more correlated to the equities market than gold. Look at how they perform from historical times.
Think he will give up shorting gold like he did the market? Talk about a guy with the knack for market timing….
Where did he write all that?
That guy needs to find a less expensive hobby.
________
He has been blogging in Xtrends. I guess this is his new home. I read it from time to time just to see how much more pain they are in as bears. Granted, I am no bull, but by no means do I short strength or uptrends. There was more to the post, but by no means would I want to subject this blog with any more nonsense than necessary to get the gist.
No, no, don’t discourage j0sh, Jake. Since gold never hit 600 bux we need someone to take DevilDog’s place. Comedy keeps things fresh. Besides, with calls like that it sounds like you could Costanza his plays and make a bundle!
Found his blog…oh my good lord…how can he still afford an internet connection?
http://tacharts101.blogspot.com/2009/09/silver-short.html
Tuesday, September 1, 2009
Silver short
is a tad early I think, but near the top regardless
1:22
YI= 14.98 right now
Now that price zoomed on up the top could be in for Silver…….. Regardless if I hit it exact I am hitting it around.
Posted by j0sh1ngU at 12:53 AM
indeud again, jake!
Indeeeuuuuuuuuuuuuuddd!
___
Indirectally, the fly wins again, by way of making jake my featured blogger.
Good timing, thanks!
Now, did you get any of this shiny stuff?
_______
Get on the horn, index and middle finger tap on right forearm. “Get me JakeGint Vaughn.” Cue the music, Smashing Pumpkins – Silverfuck.
Check out this video Jake. Clearly shows the absolute stupidity of our “leaders”.
This Congressman claims that “The more debt we owe, the wealthier we are”.
Did they teach you this in B-School?
http://www.youtube.com/watch?v=UjbPZAMked0&feature=player_embedded
That’s only taught at the Donald Trump School of Bidness, off Rt. 21 in East Orange, NJ.
___________
Pffft. Which combatant in that vid you posted was meant to be you DMG? Oh right: you weren’t in the ring, you were the guy in the back, checking out the fighters’ packages with your hands down your shorts, dreaming of eating the peanuts out of their shit. Like I am going to be scared of THAT guy. Also, admitting you don’t know bollocks about my batting a thousand here proves only one thing: you should sit the fuck down and shut the fuck up, ’cause you haven’t a clue, just a big gaping maw. “Not qualified” what a load of shit, I doubt you could make it through “How to Eat Fried Worms” without a dictionary.
DMG says, “Oh please, please GF throw me a bone!”
Fine. Here is your fucking bone you worthless beggar, courtesy of a friend of mine. From him to me to penis-breathed and undeserved you: Red Back Mining. RBI.to
Jake, I know you don’t usually like the purely Canadian companies, but these guys look like a really decent long to me.
DMG, don’t take my word for it (as if), prick, do some work for yourself for once. Or even more satisfying for me: try and short ’em to make another insipid point, and lose yourself coin. Fuck you.
Disclaimer: I could have made a mistake, so use this info at your own risk, moot. Inductive argument says otherwise, but who knows? Nobody is perfect. Except DMG, in his own mind.
Earth to Gon’over the edge:
as you have proved yourself delusional – i believe the medical term is ‘crazy as a shithouse rat’- i suggest taking heavy doses of Xanax along with copious amounts of Jack Daniels.
Get well soon –
DMG
Service With a Grin
What, that’s it? And here I am thinking you actually had it in ya to go toe to toe. Even half a man would have had the ‘nad(s) to post his own choice pick to contest mine, ya big girl’s blouse. I mean, DMG, you loudly boast that you are so fucking omniscient, but I have yet to see any evidence of it. Your big-headed blather is all maw, no teeth.
Talk to me again when you grow a pair.
Yes, I think I will have a shot of whiskey to celebrate your capitulation, but a decent single malt scotch, not that filthy corn mash pleb stuff you dump down your chicken-necked gullet.
Goin’
You know I am a gold bug, have been ever since I discovered the stock market, so I read a lot of the radical stuff the gold bugs put out, but when I read this today I was somewhat taken aback( and I read this guy frequently) but what gets me is the unabashed honesty of feelings all of these guys are starting to put out there for all the public to see.
In a way, it is refreshing that people feel free to speak their mind, finally, and they have an uncensored internet to do it on (for now). But it is scary at the same time because there is so much of it, and because it means that it’s not something you can just close your eyes to any longer, saying they are radicals, on crack, need to get a life, whatever.
He is ticked and no longer even trying to say it in a nice way. Anyway, just his language and the force of anger behind it caught my attention.
http://www.kitco.com/ind/Wieg_cor/roger_aug272009.html
I am strongly considering selling half of my PM’s during this rally, and getting back in 100% invested later this fall when gold is at 1050/oz. And that is because I don’t have enough money to keep adding on the dips, so want to take advantage of a little swing trading.
Hope you read the Aden Sisters as well …. Sept is usually the best month for gold/gold shares (C leg) but is followed by the worse month Oct (D leg) …. then the A-B-C-D cycle starts over, so you are right about selling into strength and buying on the dips.
from the Adens: http://www.kitco.com/ind/aden/aden.html
“…. a C rise has begun. It’s been quietly forming a coil and gold looks ready to take off. Gold’s been rising this past month and it’s strong above $935. It reached a nine week high and it would be very strong above $985. A super strong C rise would be underway above $1004, the record high.
Keep in mind, C rises tend to be the best rise in the pattern. By hitting a new record high, gold would confirm that the bull market is entering an even stronger phase and it could then rise to near $1200. It would also confirm that the 8 year low indeed happened last November.”
http://www.kitco.com/ind/Holmes/images/aug312009_2.gif
The key is selling at the right time …. 8% may be the avg return for the month of Sept but as the author above writes, it has lost 10% as well as gained 50%. The Adens are predicting $1200, so watch the $ as Jake would say, using that as a guide to lighten up or get out.
Personally, I sold my FRG and NGD into this rally as they look to be topping or rolling over and I expect (or hope) to be buying them back on the next pullback. But if I get back in, I will surely dump again if that $1200 prediction comes true as the following swoon could be as big a drop as the rally up was come October.
Interesting: too big to not fail