Listen, I just won’t do it.
I will not.
To boast and brag about the egregious Epic of Gilgamesh-like wins over the last two days would be… well, it would be unseemly.
Instead, I’ll show why I think this is “something different” than the last run up we had in late May/early June. Take a look at this week’s “star” Jackson IAMGOLD Corporation (USA) [[IAG]] :
Yeah, that’s a five-year chart. And charts looking like this are all over the PM map this week, like drunks at a Calistoga wine tasting festival. Breakouts on considerable volume. And yes, there will be pull-backs.
What’s more, there’ll be more to come. Remember my $HUI chart from just this past Sunday’s post? Well, circumstances have certainly accelerated, but it also looks like there’s a lot of room to run just to get back to the old highs…. viz:
Keep an eye on the Jacksons as we head into the meat of this breakout. Besides IAG, there’s also Eldorado Gold Corporation (USA) [[EGO]] , [[PAAS]] , Silver Standard Resources Inc. (USA) [[SSRI]] and my favourite (sic) long term gold play Royal Gold, Inc. [[RGLD]] . Also, as I expected, Thompson Creek Metals Company, Inc. [[TC]] had a nice rebound-breakout day today as well.
Non-Jacksons Allied Nevada Gold Corp. [[ANV]] and [[EXK]] are long term favourites…. be well.
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I’m hoping for a most egregious pullback. Selling stocks at a profit never felt so bad!
Great post Jake and thanks for “filling us all in”
LOL @ Dubz. And yes, thank you Jake!
yes..there will..but from where..?
Shoot, that was a very low grade, non-nutritious pullback.
IAG is still negative, however… get summa that… only up 25% in two days!
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Non-Jackson non PM pick o’ the day — FNSR.
Popping it’s turtle head into the “BTFO” region.
Needs volume, however.
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Look at IVAN go. Had it on my watch list , but didn’t expect it to go so soon. I want to get into natty, soon.
Remember when I told you about PLM, Jake? Didn’t expect to see it go so soon, either. But I did buy it, so Yay! I see RC got it, too. To take profits, or let it ride. That’s the hard part, trying to decide.
I hope everybody makes an incredible amount of money, and has a great Labor Day weekend, hopefully with family, but if not (I’m thinking of military, here), then with friends, good books, and good vino!
What’s interesting about this rally is that it seems to be confined almost exclusively to the precious metals. Base metals, energy, and soft commodities are muddling along adequately, but precious metals are BTFOing all over the place.
— also..the re-fuck-tards at CNBC not pumping it…wait for a bank to blow up over the weekend..or some other crazy shit…
The techs are moving again as well now, Equalizer.
Check out FNSR!
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CDE taking off again….
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Someone on the PPT (maybe DUbz?) asked me where I thought the pullback on GDX would be to… and he asked $44 or $42?
I said there was a 78.6% fib line right around 43.90, and I would be mildly surprised if it got past that given the volumes we’d seen this week.
Today’s close? $45.02
Today’s high? $45.39
Today low? $43.90.
That’s some space alien magician kinda shit right there.
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I really love my pullback picture, btw.
Doesn’t it seem like they’re smiling right atcha?
We had one of those devices my senior year in college. No hot chicks to hold the sides, unfortunately, but a great house rooftop (the old AD) from which to launch water balloons clear across the quad at unsuspecting pencil necks and disliked deans of students.
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Wow Jake, if your team had the skills to pick off chosen individual targets with a kit like that, I think you all may have missed your calling: Armies need artillery teams that can operate mortars with that kind of precision. Could that be called an ‘IAD’ (Improvised Artillery Device)?
It was callibrated by it’s inventor, who was our resident mad scientist.
He’s still a scientiest, btw.
It was deadly accurate.
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EXK is officially “btfo” over the June highs as of today, btw…. look for the pullback at $2.43 or so.
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Have a good Labor Day Weekend, gentlemen.
BS or reality? I think I read somewhere Germany is doing something along these lines too. Pah! Probably as ‘conspiracy theorist’ as believing the Bildeberg Group exists, or that the COMEX is manipulated by naked shorting.
Enjoy your holiday, Labourers, goodness knows you’ve earned it!
Excellent article, Goin’.
Should be read by all… including… no, especially the comments.
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New Post ————————————–>>>>>>>>>>>>>>Jacksons and the $HUI look for new highs.
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