You bring the dough, I’ll crank me goooolden pasta machine.
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Have you just arrived at my blog after visiting the site of M. Le Docteur de Le Fly? Did you watch that video with the eerily calm-voiced man who is sketching our collective doom via Youtube videation? Are you now in need of a mug of chamomile tea in order to calm your nerves?
Well, goodness knows, there’s other comfort foods available for your consumption, including Jake’s yummy pasta. Remember this [[AIPC]] name from the other day’s post “Pennies for Pennes?” Here was the original chart from 10 days ago:
And here was Friday’s close — a mere week later:
Keep in mind, that’s a launch off support in one of the worst week and halves of trading we’ve had in 15 months. Admit it, you didn’t touch this stock, because you thought maybe I was nuts, offering Italian carbohydrates whilst the Greeks burned the Parthenon down. But you must keep in mind that trending stocks that display relative strength in bad markets are generally some of the safest names you can own in a storm.
I think [[AIPC]] may take a rest/hit tomorrow, and it may be a good time to scoop some up. Don’t wait too long, however. There’s someone after this one, I think, and he’s/she’s/they’re no piker.
Speaking of strength in the storm, let’s not forget that [[GLD]] and [[SLV]] have been acting very cheery in the face of this Eurotardation, much to the chagrin of Mr. Samsonite Hamburg-ALL-er and his boss, a Mr. The Devil Dog. What’s more, even the miners, which tend to wane in sympathy with the overall markets, are showing strength.
If you watched M. le Docteur’s scary video, you may find the answer therein. Me, I’m not going to invest in reverse-Oliver Stone type fright films, but I do know a trend when I see one. As you can see, my plan remains the same, and so does my target for the Amex Gold Bugs Index [[HUI]] :
I like what I’ve been liking for months now, but I may not have mentioned them all, so here are some look sees:
Gold miners (Large): Goldcorp Inc. (USA) [[GG]] , Yamana Gold Inc. (USA) [[AUY]] , Newmont Mining Corporation [[NEM]] , and [[GDX]] for the grouping
Gold miners (Medium): Allied Nevada Gold Corp. [[ANV]] , Eldorado Gold Corporation (USA) [[EGO]] , IAMGOLD Corporation (USA) [[IAG]] , Gammon Gold, Inc. [[GRS]]
Gold miners (Small); Golden Star Resources Ltd. (USA) [[GSS]] , NovaGold Resources Inc. (USA) [[NG]] , New Gold Inc. (USA) [[NGD]] , Northgate Minerals Corporation (USA) [[NXG]] , [[BAA]] , Rubicon Minerals Corp. (USA) [[RBY]] , Exeter Resource Corp. [[XRA]] , Taseko Mines Limited (USA) [[TGB]] and the catch all [[GDXJ]]
Silver miners: [[PAAS]] , [[CDE]] , Silver Standard Resources Inc. (USA) [[SSRI]] , Hecla Mining Company [[HL]] , [[EXK]] , [[MVG]] , [[SVM]] , and the catch all Apex Silver Mines Limited [[SIL]] .
Royalty plays: Royal Gold, Inc. [[RGLD]] and Tanzanian Royalty Exploration Corp. (US) [[TRE]] for gold, and my baby Silver Wheaton Corp. (USA) [[SLW]] for silver.
Best of the litter — Silver Wheaton Corp. (USA) [[SLW]] and [[PAAS]] for silver exposure, then Royal Gold, Inc. [[RGLD]] and [[GDX]] for gold glamour (sic).
Best to you all, have a nosh of rotini, get some sleep and do not let the Samsonite Hambug-ALL-ers bite!
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The asshat in the ascot over at Clawhammer’s joint kind of put me off, too.
Other than that, Mr. Valium Voice made a lot of sense.
Dropping an Ambien now, perchance to dream. Biggish week ahead.
Congrats on the recent moves.
Good luck w. it!
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The ascot didn’t bother me so much, but then I can’t remember whether I’ve ever eaten at an olive garden or not.
One thing that struck me: if silver does launch on a short squeeze, etc., might it not create an incentive for SLW counterparties to bail on their contracts and go into the silver biz for themselves, thus hurting SLW right at the time that it should be shining the most? Not looking for monster analysis or testing your knowledge of SLW contracts and the risks/costs of its CPs breaching (this is just something that occurred while watching the video), but any thoughts?
There’d be massive lawsuits against all the contract breakers. Not going to happen, this side of Armageddon.
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The V.King is here…
I have one of those, but its polished silver. My granmother made her own noodles, rest her soul. Now thats italian!
I said ….The V.King is here!
After much analysis The V.King has come to this conclusion, but first with the euro getting it’s balls clipped, a nuclear Iran, the Fed printing shit, Greece, Red China owning us, Obama, T.V. commercials spewing Gold trades it is easy for The V.King to say that “the market is gay.”
Agreud.
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I have added to my DRR position 2,000 more
TCK getting brutalized here… looking at some Bollinger Band Crash Trade options now…
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Just wondering if you could go into some details on why miners are following the broader market, Jake. I’d been hoping that the miners would act as a hedge for me, but that’s not working. TIA
In a flight to the dollar, everything gets sold for liquidity purposes. Look at it as an opportunity, or, if you are fully invested, go have a samich.
This ain’t over by a long shot, but bulls never were, and never will be be easy to ride.
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Thanks for that pep talk, Jake. I grabbed some TCK along with some AGQ and RGLD.
CREE up today, VECO down, for you LED watchers.
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$41 was primo for the Pasta — did you grab your sack and get the gooold?
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i tried but was late and never hit my bid.
Jake,
I am into PAL at about $4.75 average. I am feeling like it’s time to double down at 3.75. Thoughts?
I’m not ecstatic about PAL as it’s got more industrial exposure than the “regular” PM’s. That’s why it’s getting reamed right now, like TCK and TC.
That said, you could go small here for the turnaround/rebound.
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VECO now green, as well as POWR.
(CREE a good tip off).
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Keeps cutting my finger tha’ ring ‘o’ gold, but be bringin’ the sack twa get me golden teeth later from snaggle toothed, buck toothed, motherfuckers.
Get the gold says the leprechaun!
Added some AIPC, below $42, last minute style.
Nom! Nom! Nom!
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Jake,
mark helprin on US military competition w/ china, via today’s WSJ editorial:
http://online.wsj.com/article/SB10001424052748704342604575222092593622512.html
Helprin rocks… I think he has an essay in this new essay anthology “New Threats to Freedom.” as well.
It’s righties and lefties filling up that book, too … worth a read.
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