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It was a little ironic the other day, I’ll admit, when I recommended the BAA trade for a “$5 Roll” (since successful) and was chided by commentator “Po Pimp” for a past recommendation that had also at one point promised a permanent place in “big boy stock” stock land north of $5. That stock was AAU, if any attentive readers recall, and it only barely made it to $5.00 in late April of last year before stumbling and finally dropping to $2.00 by the doldrum period of last December.
I of course still owned AAU at the time of Po’s razzing, but hadn’t really studied the chart in a while. That challenge, however, had me take another look, and what I saw last week was a stock also breaking out of a consolidation zone, just as BAA had done. Look at the weekly to see how we were breaking (even last week, if you look at the shorter candle before the present one forming this week) from a congestion zone and from an intermediate term down-channel.
Last week’s promise confirmed today, when AAU surged over 15% on huge volume. I don’t even know what the news was that drove this rocket today, and it could even just be a result of pent up demand. One thing I do know is that this is happening more and more with the juniors, and I don’t expect it to stop very soon. The dollar remains under pressure, as well. I think we’ll get some continuation here, at least.
And maybe…. moooooore!
Go have a box wine tonight, on old Uncle Jake, it can’t hurt none. I also like CDE , AG, MVG and EXK here.
My best to you all.
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interesting piece of offal.
I may play.
Eye Yi Captain! Congrats!
Fly, looks like you took the Blue Radio off the counter before taking that picture.
LOL. You noticed the backdrop.
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Thank you for calling my attention to the junior miners and silver last week. I dumped 20% of my port into $AAU on Friday at 2.91, and closed that for 12% today. Perhaps I will swap $ERX for another batch of $AAU tomorrow if the price is right (as that $AAU has already been rolled into an egregious $EXK position).
$AGQ also looks very strong right now, yes?
My target is $80 there, short term.
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Yup … winner of the day in my holdings. Don’t forget FSM … new production on line this past Qtr should add to earnings going forward … a top pick ovah heah!
AG beating out FSM by about 100 bips last five days, but not bad.
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nice cup within a cup, from back in april/may.3.60 will complete this latest cup.but i would like to see the handle action on it’s way to 5.25,after that will be a perfect cup from last april/may,and thats where it should get interesting.
Eggs-actly.
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Senator – your thoughts on TC after their crap-the-bed moment yesterday? Thanks.
I am not happy, but I also think they are a buyout play, so I’m holding.
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Jake,
Forgive me for taking us off topic, but I want to ask you a serious question: Tell me honestly, don’t you think Mitt is a whining bitch? I mean, seriously, Obama is a fucking killer, and this guy, well, he’s worse the GWB. I watched his victory speech, and here’s my sense of it: not only does he not believe in anything, he strikes me, as a man-child.
What d’ya think?
apologies for the typos…
hey spooky,next time you see 0zero at his tele prompter in the WH press room.i want you to take particular notice of his backround…… he has a golden drape behind him with markings of islam all over it.also notice the statuesque like chandlier floor lamps……now,every president that has stood at that podiem.behind them is always an american flag. can waldo find the flag at that podiem……..everyone needs to see this before they vote.this is not funny in any way shape or form. please,everyone needs to open their eyes.
Drummerboy,
Time to grow up. Even Trump gave up on that line of attack. Do I really need to ennumerate the kills? Seriously, there’s drumming and there’s reality.
all best to you.
drumming takes a high degree of discipline and reality,heights of which you will never achieve.
I can attest (corner DB).
In case you question, here are some men I’m proud to call brothers:
http://www.youtube.com/watch?v=dXApUI5_E-A
Spooky. Your dissent will not be tolerated. Drones at you and yours (station).
Spooks — the guy built Bain Capital, one of the ten largest PE firms in the globe, from the ground up.
People I respect have worked for him and would take a bullet for the guy. They just love him.
His political persona? Yeah, I don’t think that’s easy for many folks save for dyed in the wool autocrats like the Zero.
The Dems make good politicians, it’s too bad their politics are so gottdamn crummy.
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I’m pretty jaded on the state of NA governance but Mitt reminds me a bit of Cdn PH Harper = all the charisma of a soda cracker but real OK policies. I think Romney would provide a boost in the governance file.
Jake,
Mitt’s success in business strikes me as due precisely to the number-crunching centrist pragmatism that he shares with Obama’s team and that led to Romneycare. In other words, his success should be ascribed precisely to what the Republican base doesn’t like about him.
But his sense of entitlement and being the child who should, by some right of blood, be due the presidency came through to me when he complained about Santorum “cheating” and his attacks on Obama in his speech.
I have a close connection to Steven Schwartzman, though I’ve not met him ever myself. He is also a lovely guy who people might take a bullet for. And Schwartzman hates Obama. But I just don’t think a PE guy is who you want running a country. I mean you gotta have some soul to be president. That was what Reagan had, that was what Clinton had. Politics is about having some soul, and you can’t fake it. GWB, while he was a dipshit, was strangely genuine in his fratboy mode that people could at least say, love him or hate him, they knew that he was a person, not just a PE group coldly pushing companies and people through their sausage machine.
You and I have disagreements in principle, but I think we agree that Obama should not have coddled the TBTF banks. Those fuckers should have been taken down.
And what do you make of Obama’s tax ideas? They don’t strike me as autocratic, or particularly leftist. Very pragmatic and right.
Here’s what I see: The democrats have claimed the fiscal politics of the middle, and it has forced the Republicans to choose between Tea-Party ideological insanity and the old fiscal conservatism that Romney is trying to claim but can’t from Obama. The problem is that more tax breaks and more Jesus in the classroom will not help this country. We need a cogent, serious industrial policy and a game-plan for the new globalization. It’s not enough to just reduce the consumer-base to family-dollar shoppers and offshore the rest of the manufacturing base. Don’t you think that is exactly what will happen under Mitt?
As I predicted, Obama has them by the cohones.
Now, if they can only keep the Israelis from starting WW III in Iran. Somebody’s gotta get a handle on Bibi.
(And drummerboy, please save your islam rants for someone else. I’m a new york jew who has actually lived in Israel!)
Spukey. When you’re ready to grow up, I suggest you tune into Michael Savage. He could show you a thing or two about your conditioned viewpoints.
In your words (not mine): “a new york jew who has actually lived in Israel!” I expect your super ego defenses will prevent such thought to action (tho).
big fucking deal!!!! my parents lived in jerusalem for 2 years while my dad ran his fathers shoe factory in amman jordan.oh, and another thing, my grandfather owned all his apartment buildings on devon avenue in chicago……..i grew up in “JEW” town on devon and clark streets,so dont give me your i’m a YAHOODEE” bit.
I can vouch for that statement. My husband’s good friend used to work with him at Bain and said the same thing:) Ah, politics…
Santorum called for Dems to get out and Vote for him, just to throw Romney out of the race…
WEASEL, Plain and simple
Oh man precious metals are not liking what Benji said today. Jake, is this a good time to reload the metals/miners? What is your opinion?
Any day NUGT drops 8-10% is a good buy for a bounce the next day
Anyone buying AAU down here?
Senator, it’s getting whippy out here in PM-land and the cycle guys have gotten themselves tied up in knots again imo. I was actually at the orthodontist again this morning with #2 son when the plunge happened and some stops got hit. How does the situation look to you and/or your mentor? Thanks as always for your time.
Jake,
Where are you man? Like momo14318 said we need your advice. Unlike momo, I jumped out and $GOLD did manage to break the daily cycle low. So what are your thoughts now? As always thanks.
I just got back from two meetings, and my phone was a brick the whole way home, though I did get a call from a broker friend.
I was hit with a brick while I was not watching, but I’ll need to assess wether this was a goofy overreaction or not tonight.
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Silver looks like it could easily drop another buck, but perhaps we will see a relief rally tomorrow morning.