[youtube:http://www.youtube.com/watch?v=jgoG5o7Jsk4 450 300]
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I’ve been mooning on about precious metals to make your head loll in zombie-dead fashion, haven’t I? I’ll shut up for another day (yesterday I talked about banks, remember?) and discuss some other picks dear to my heart instead.
First, let me point out that today was a tight fisted, play-the-Obama-speech, earl (sic) and gas flinging session for the majority of The PPT members inside that eldritch sanctum today. Many a new position was opened in the nat gas and earl sectors, though your humble servant reserved his coinage only for a small addition to [[ERX]] and a new starter position in Fly’s latest find, the barrier island building [[GLDD]].
But my fellow iBankers have already mentioned multiple carboniferous energy plays for your enrichment, so I will hold off and present instead two metal names in my portfolio that I think are worth a glance at this (critical?) juncture.
The first is [[TCK]] or Teck Cominco, which, like the Nine Travelers at Lothlorien, stands at the “edge of the knife.” The weekly chart is self explanatory (and the daily is quite useless, btw) — price must hold at these levels or the stock will see $25 very quickly.
That said, I like this name, and barring any unforeseen circumstances, I think this name rebounds to the $45 level with the rest of the XME-like names, if this rebound scenarios continues. Wait and see, first, however.
Another of my favourite non-precious portfolio metals is [[TIE]] which has been looking almost unnaturally healthy these days. Given the consolidation in specialty metals, I wouldn’t be surprised to see this company taken out at some point in the next twelve months, and that could be what investors are seeing too. First, the weekly is looking like it wants to break to free air:
Looks good enough to grab right now, but I think the daily gives some very nice direction regarding a proper buy point:
Let’s keep an eye on the gold and silver here as well. Looking for Gold to stay above $1,200, here. If it does not, I will have additional commentary on my follow up moves.
Best to you all.
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Jake, unfortunately, at the present time, gold is perilously close to going under 1200 (presently around 1204-05 as per Kitco). Yikes! I think I need some guidance here. I stopped out of 1/2 IAG today and wondering what to do about ANV, that little Endeavour Silver, FRG etc. Your thoughts will be greatly appreciated:)
Eat a sandwich, unless you need the money within six months.
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Sinatra is the greatest. He still sets the bar that many strive for, not just music but cool, hip, exactly the right attitude, etc.
Even hip hop artists have to notice Sinatra’s perfect blend of confident swagger, charm and toughness along with being damn good at his craft.
I think “Songs for Swingin’ Lovers” is an amazing album, should be part of a “desert island” music collection.
I like Dean Martin’s singing better out of that group, at least his sober singing. But this song from Sinatra is good, I have to agree.
I can still remember my Dad going on and on about this chick, and I couldn’t understand why at the time, but in seeing this vid, I guess she did exude a certain charm and classiness –
http://www.youtube.com/watch?v=j7bfudsfZjw
This is really cute, Dean Martin and John Wayne –
http://www.youtube.com/watch?v=QOX–uekZ9Q&feature=related
(Both WAY before my time, but how sexy were the old guys back then!) And you’re right MX, a lot of the men in that erea had that combination you speak of.
Sexiest man of our time? Johnny Depp hands down! He just exudes charm and intelligence all over the place, with a little mysterious quirky thrown in for good measure.
I had pictured Fly’s cartoon version of himself to be somewhat “depp looking” before I watched the first one. Weird how you get a picture of someone in your head.
http://www.youtube.com/watch?v=KwkS-ERuNuk&feature=fvw
Dollar looking to achieve the March ’09 highs, with gold largely flat. If we doubletop here, could be eggsellent news for the PM sector.
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I like it when you post things like this, Jake. It helps set my newbie mind in a better frame. Much appreciated:)
Gold is up $10, btw, and $18 off of today’s lows.
Dollar is over $88, which means one of them will break soon.
$88.36 = the November 21, 2008 high (remember THAT day?)
$89.62 = the March 4, 2009 high (when the bear broke last time).
Today’s high= $88.19
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I think everything going on is eggsellent news for the PM’s.
My entire portfolio is in commodities now, mostly PM’s, oil/ngas, copper, ag, uranium.
I still have SD, BX and a couple others that don’t look so hot, but all in all, I feel weirdly calm, even good. 🙂
Realizing that I may have a several month time frame, even longer (year, two?), it matters not. That’s what feels so good about it. KWIM?
I always enjoy the Tolkienen references.
Indued… Jake Wise Gamgee…Indued
Iluvatar’s Blessings upon you both.
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TIE looks worthy of Fenor.
Actually, I’m surprised you didn’t lay down the Lucas references. The materials all there.
Lucas is a copycat.
And I believe it’s “Feanor” with the goofy period things over the “e”.
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“umlaut”
Touché.
Fëanor.
TheV.King,
Found a summer game for you
http://playvking.com/index.html
Mr. You
Wait till we introduce the bedroom version for adults….
Also in the fall we are rolling out V.King Vodka sauce
V.King feel the burn
I enjoy those electronic cigs. You spoke of camels in your PG post, and I didn’t have time at the time to reply that I really like those e-cigs. I hate cigarettes, but I have an electronic cig, with different flavored e-liquid from Totally Wicked, and it is most enjoyable.
And very popular with the non cigarette crowd. You should check it out. No smell like cigs or cigars, either, but all the nicotine enjoyment. Even French Pipe flavors, chocolate, coffee, cherry, cognac, cigar flavored…
There insanely popular in the UK, so much so that I almost thought about starting an online business selling it. But didn’t. Anyway, you might enjoy it.
Edited to add: this was directed at CT, sorry, it didn’t pop up at the right place.
Jake may all the Quendi sing your name til the sun rises no more….
I agree that Lucas is a copycat ….can we all agree that he also is a blatant racist…..
Why so?
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DXY is at $88.22 @ 2:55 pm. Again, new highs.
Gold hanging in there at $1214.10 (up $9)
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Why?
Quendi’s singing…that’s obvious
Lucas being racist…that’s easy
http://www.weirdworm.com/the-five-most-racist-star-wars-characters/
DXY (dollar index) high of the day = $88.32 — 2 pennies off the November 21st high.
Now today was no fun, but did it feel like the November 21st 2008 lows?
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I was just noticing that today too
The move is totally parabolic
I really like our chances here, if the dollar falls apart everything is going to skyrocket
Jake, are you saying that, with the DXY at $88.32, today felt like that late November ’08 bottom in the PMs? TIA for your patience. I’ve been up on my feet most of the day with an extremely cranky toddler who’s teething and sick and I don’t think I’m capable of thinking too clearly at this point LOL!
Well, not exactly. What I’m saying is that we’ve gone very far and very fast on the dollar rebound and are now on the cusp of the Nov ’08 and March ’09 highs, which both marked significant tops. This would indicate that there’s not much room left in this downspike in the overall market.
As far as the PM markets… gold holding up here is very significant in itself, the dollar aside. The one negative is that gold is now being purchased out of fear of European collapse, not for inflationary reasons. Therefore, I expect gold will not immediately take off here if the rest of the market does.
Silver should re-catch up, however.
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Hey Jake,
He played for 60-90 min. Can’t believe he’s 80. Still hitting it hard, gives me some motivation, maybe i can enjoy a long career too. He sounded great, the real deal.
Can’t believe he made it through the seventies. Just goes to show you, sometimes genetics just triumphs… If they dont’ have the heart disease thing, those folks from the mountains of Kentucky and East Tennessee liver for-freakin’-ever.
Are you a musician, then?
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Im sorry i meant to say he’s 70..hear im thinking how does he do it..
You are close… I think he’s seventy nine (b. 1931?).
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Who are you guys talking about? Sinatra? He’s from the Smokey (Blue Ridge?) mountains? Are you kidding me?
LOL… no, George Jones. From the Tennessee mountains.
Sinatra was from Hoboken, New Joisey, another honorable place.
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Really great dollar/S&P chart just posted today
http://www.etf-corner.com/markets/2010/06/spydxy-the-us-dollar-index-and-the-sp-500.html
Dammitall, TA, I was just going to do a dollar post… way to steal me thunder.
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The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man who had received the one talent went off, dug a hole in the ground and hid his master’s money.
After a long time the master of those servants returned and settled accounts with them.
The man who had received the five talents brought the other five. ‘Master,’ he said, ‘you entrusted me with five talents. See, I have gained five more.’ His master replied, ‘Excellent, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
The man with the two talents also came. ‘Master,’ he said, ‘you entrusted me with two talents; see, I have gained two more.’ His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
Then the man who had received the one talent came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your talent in the ground. See, here is what belongs to you.’
His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest.
Take the talent from him and give it to the one who has the ten talents. For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him. And throw that worthless servant outside, into the darkness, where there will be weeping and grinding of teeth.’
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Preservation of purchasing power can only get you so far. On the other hand, I find it interesting that banks still paid interest 2000 years ago. Did they really have a lend at 6%, pay interest at 3% system back then?