Again, there’s no need for braggadocio. It’s too early yet.
Let’s just recognize that there will be pullbacks, perhaps as soon as this week. Those pullbacks may take the form of consolidations, or real live gut-rippers like we experienced in rocket ship IAMGOLD Corporation (USA) [[IAG]] last Friday. Take a look at my notes on the Jacksons for further guidance.
Important to note, however, that we’ve broken out of the long term triangle on the $HUI, and out of the recent June highs, with a close over $409 on Friday. Next targets are $475 and the old highs of $525. I am firmly convinced we’ll see both those levels well before Christmas. This should drive the Jacksons for the remainder of the year, and I think there’s ample room for continued participation here.
Remember this chart from a couple of days back?
Well, look where we’ve come in two short weeks:
My favourite (sic) non-Jacksons include Allied Nevada Gold Corp. [[ANV]] , Rubicon Minerals Corp. (USA) [[RBY]] and Golden Star Resources Ltd. (USA) [[GSS]] on the gold side and [[CDE]] and [[EXK]] on the silver. I really like the free air on the CDE side. It could go to the low forties with very little resistance now that it’s broken out of it’s May closing highs.
Here’s the weekly Jackson review… note the monthly is higher than the weekly in this first week of September, because August 31’st was such a down day for many Jacksons.
Name/ | % | Portfolio | Portfolio | |||||
Ticker | 28-Aug | 4-Sep | Change | Value | Impact | Comments | ||
ANDE | $ 32.92 | $ 32.34 | -1.76% | $ 9,764 | -0.10% | Still looking for the break of $33. Soon! | ||
EGO | 10.56 | 11.21 | 6.16% | $ 10,504 | 0.39% | $11.50 is BTFO target | ||
GDX | 40.18 | 45.02 | 12.05% | $ 13,626 | 0.98% | Look for pullback this week. BO>$45.25 | ||
GLD | 93.87 | 97.53 | 3.90% | $ 11,217 | 0.26% | Looking for $100. | ||
IAG | 12.02 | 13.84 | 15.14% | $ 17,065 | 1.55% | In BTFO territory, and consolidating BO. | ||
MON | 83.00 | 82.24 | -0.92% | $ 13,047 | -0.07% | Coiling on low volume | ||
PAAS | 19.99 | 22.45 | 12.31% | $ 13,483 | 0.99% | BO out of triangle. Pullback level – 21.50 | ||
RGLD | 39.95 | 45.98 | 15.09% | $ 12,705 | 1.15% | Massive two day BO. Next target $48.65 | ||
SLV | 14.50 | 15.97 | 10.14% | $ 12,973 | 0.79% | Broke weekly DT, over 15.75 resistance | ||
SLW | 10.45 | 11.59 | 10.91% | $ 11,258 | 0.74% | Massive BO. Next target $14. | ||
SSRI | 18.28 | 21.09 | 15.37% | $ 12,269 | 1.13% | Needs $21.50 for BO level | ||
TBT | 46.74 | 47.70 | 2.05% | $ 9,502 | 0.12% | Bounced from $45 low, now over $47.20 again | ||
TC | 11.98 | 11.89 | -0.75% | $ 9,787 | -0.04% | May have bottomed at $11 | ||
TCK | 25.20 | 24.36 | -3.33% | $ 23,505 | -0.47% | May have bottomed at $22.05 | ||
Cash (000) | $ 0.00 | $ 12.64 | 0.01% | $ 12,644 | 0.00% | Same | ||
AVG (weekly) | 5.67% | $ 193,350 | 7.41% | |||||
AVG (monthly) | 7.88% | Actual cash | ||||||
AVG (inception) | 32.81% | on cash return | 28.90% |
Best to you this week, and watch for pullbacks!
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Epic setups
Thet’s (sic) no bullshit.
Hope yer lungs is better.
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Thanks for the weekend work Jake – working out some positions / strategies under your scholarship and keeping close watch on what is certainly the most exciting sector right now.
OT Jake,
Filed under: ‘Better Slow Than CALCIFIED’
George Will continues to learn and think. Have you read his two most recent columns?
Will is a product of his baby boomer age. I agree w. him on Afghan, only because I think Afghanistan is largely “remotely policeable.” Iraq is far too critical to dismiss, however. I tire of his facile pronouncements.
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Will is too old to be a boomer. He was born in 1941.
Alert!
$DXY dipped below $78 today in the global markets. If that level is broken, that’s a significant event. for the whole Jacksonian Universe.
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MELANIE!!
MELANIE!!
MELANIE!!
MELANIE!!
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Now let’s root on the other upstart — the gentle Giant, Isner.
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go cowboys…and silver..and gold..nice week it was…
Crackboys? Are you trying for a permanent ban?
Unless you are talking about OSU, of course.
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Anyone watching this Miama (sic) Eff Esh You game?
Freaking awesome!
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Jakester, here is an interesting read for you.
http://cssanalytics.wordpress.com/2009/09/06/big-money-report/
Later my friend.
Gary Savage has made the COT study a cornerstone of his trade analysis for a number of years now.
Lately, he’s come to the conclusion that a lot of the information has become less than useful, most likely due to dark pool trading by the big institutions.
K.I.S.S.
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Gold over $1K!
Dollar under $78!
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Checks GLD, GDX & ELD.TO and pukes all over his keyboard.
Ehhhhhhhhhhhhhhhhhhhh
Curious, didn’t Paulson stock up on the Dollar?
Depends… which Paulson you were talking about? 😉
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Enjoy another heroic day for you Jake – coin must be just falling out of your pockets! Nice to enjoy some of the bounty with you in PAAS and NGD
Don’t forget HLCS… still have about 15k shares of that too…
When it rains… it pours.
Now, off to shop for umbrellas.
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CDE is a (insert favourite {sic} Yahoo! Message Board description here).
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(Leaning towards “juggernaut” but suggestions welcome)
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SVA! Hominah Hominah Hominahhhh!
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Hey, hope everyone had a good holiday weekend. I was practically dancing, this morning, watching all my positions break the fuck out.
Yes, I went out to a lunch meeting and it looks like all the gold & silver bulls came w. me.
No worries… this ain’t no disco, no heebee jeebee, this ain’t no fooling around.
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Update: Just added 40 Oct 17.50’s (calls) on CDE to my stash… short term swing hold, @$2.60.
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Note — if you are on the PPT, you got the news there first.
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Gonna have to miss the close… young ones’ first tennis match today. Coach Dad has to be there to exhort.
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________________>>>>>>>>> new post! Twas brillig & the slithy toves….————>>>>>>>>>>