(Appropos of nothing, really)
_________________________
I don’t even know why I attempt to suggest other varietals. Is it the desire to be au courant? The obligation to entertain? Devil-may-care hair in the wind type stuff?
I don’t know, but really… it’s just plain silly. There’s a single bull market at play here, and this is what we are about. I had a bunch of positions take egregious losses today, most notably those in the “hot but not” LED space, like CREE and (worse) VECO. POWR hung tight, but I can’t imagine that nasty Friday WSJ article will leave it be, either.
I even took a small bit of VECO off today, in the mid-33’s, because I figured it would be a while until I saw that position back in the drivers seat. No matter, as I bought more AGQ with the proceeds and promptly saw it rise a buck and a half (to $60 a share). Is there anything more exciting than having one’s steed cut down from underneath one in the midst of pitched battle, only to find a stronger charger at the ready?
That is why I was not down today, despite egregiousity in the above names and even some other hard metals like TC and TCK. It was all due to the gorgeous strength of our gold and silver portfolio. I speak primarily of the silver miners, including SLW, PAAS, EXK, SVM, MVG, CDE, SSRI and HL. But the gold’s included prized champions like RGLD, ANV, EGO and IAG, who were stalwarts too.
Note how the $HUI index held up today on the weekly:
Am I wearing cats’ pajamas or is that thing looking like it wants $520? You tell me.
Then there’s one of my favourites, ANV. She’s just been a trooper since we picked it up just under $6 last year, and is seeming to have no trouble moving on three times that size. Note that strong weekly consolidation?
And the daily looks just as promising, after a decent pullback:
Another promising pick, and one I should leave alone and go macrame a duvet, or something “crafty” like that. God knows I’m only dangerous going outside my “comfort zone” in the PM world, and He surely sent me a signal today.
May be time to re-assess and de-stress. Real money is coming back into vogue once again.
__________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
What ever happened to the goober who was always pushing SWC? How come that isn’t one of your top picks? Can PIIGS fly? Is Kentucky Bluegrass really blue?
What say ye?
Yes.
_________
pretty sure JJ was buried under a 100 foot tall plume of bullshit.
Last seen herding goats in Rumania (sic).
____________
“I like you have balls. I don’t get too mad at that. ” Bedbug Eddie.
Hey jake, hope tbe day goes well for you.
Good stuff. Of the two, which do you prefer, gold or silver and why? I’ve heard that “gold is the “crisis metal” more so than silver, but that silver is more scarce and has more upside. I’ve heard that gold is manipulated, but then again maybe silver is too. Do you think the silver will ever go back to anywhere near 1/16th the price of gold again or is silver doomed to always underperform gold? what say Yee
That’s a lot of questions…
Yes, gold is the “crisis metal,” but silver has a lot of the same crisis-curreny qualities as well as being an industrial metal. That can be a double edged sword in some cases, however, as silver will get wacked harder in a down market while gold can exhibit almost Treasury-like flight to quality aspects.
I would very much doubt silver will get back to that historical 16-1 ratio, but there could be some bubbles in that market as relates to gold. I would be overjoyed if we could get back within the more recently historical 40-50x band. Even w. gold remaining constant, that would put silver in the $24.80-$31.00 range.
That kind of rise would offer immense leverage to the miners, which is why I like them best.
_______
Jake,
Can you explain a little more about what you are looking at in the circled parts of the chart (different indicators)?
If you prefer to put in PPT forum let me know and I’ll start a thread.
Thanks
Well first, I circle the most current action, on both the stochastics and the candlestick chart itself. Admittedly, I overcircle, but if I’ve circled a stochastic that means I’ve taken some information for my use from it..
W. regard to what I’m looking for: First, I’m looking to see if they are all trending in the same direction or if there are significant divergences.
For example, the weekly (and to some extent, the daily) slow stochastic lines on ANV are both still trending down. This is not unusual, given the characteristic of that stochastic, but still something to consider. More cautious types might wait til they get the confirmation of the turn.
Each stochastic tells you a little something different, though some might argue the MACD and slow stochs are similar enough that you could omit one. In most cases, I’d eliminate the MACD. I like the “accumulation/distribution” line just for confirmation of what I should be picking up looking at the price and volume indicators in the main chart.
“Belt and suspenders,” so to speak.
__________
Machines being built at rapid pace. Hited on 50 new people! Lots of equipment being moved to the field as we speak. Many new contracts on line, president of company to make appearance soon.
Are these oil servicing machines? At least that bozo let them start drilling again, so the Gulf won’t have 100% unemployment.
________
Only in shallow water… I think this will turn out to be much worse for the President than Katrina was for President Bush. Just sayin’.
There’s a single bull market at play here, and this is what we are about.
Indeed.
Ongoing for ten years now with the best yet to follow, while many have ignored.
The shame of it, 95+% dopes on Broad & Wall don’t have a clue, yet continue to delve their fingers in broken glass where severe lashings are and will continue, to be administered.
60% Long Gold/Silver Physical & /Jr.s
40% Cash/currency vehicles
Plan your trades and Trade your Plan!!
I luv me some AGQ
regular ETFs are too vanilla for me so I choose to play with hand grenades .
It’s a juggler, for sure.
_____
Building oil rig equipmwnt at furious pace. Many going to viking servicing co. And key services co. As well. New buyers coming on line as contracts inked. Will be busy as far into december as possibly. They asked us to log our vacation for approval early this year because we would be busy at years end!!
Odd, another V King post with Fly’s Romanian connection:
http://www.viking-intl.com/
Rand, did you say you are working for Key Energy or someone else?
Also rail equipment being built quicker as well.
Hmmm… interesting, despite the anecdotality of it.
______
Stewart and stevenson builds a rail mule, sort of a small engine, to do maintenance of rail way and moving cars more easily. Mostly bound for nothern climes. Its an orange machine that rides on and off the rails. Its called a rail king. Its as large as a tank, but not as heavy.
if SPX closes above 1080 before Friday I will “speed chop carrots”
Merlin says POOF
wave2 top in 1070’s ….