Sunday Night Present, Courtesy of the PPT

 

Don’t says we never gave ya nuttin’.   [[SPAR]] is currently #4 on the PPT’s Top Ten List.  

The fib lines are a bit thick, but the price closed on Friday a good 15 cents north of that long term 38.2% line you see there, at $10.49.  

You want to know who is numbers one through three?   Sorry, I am not at liberty to disclose…

I’m afraid you’ll have to ask the site’s proprietor. 

Who knows?  He might have eaten some bad mussels last night and as a result become inclined to sudden spasms of generosity.   It is Sunday, after all, and stranger things have happened on Sunday.

Best to you all.

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There’s a lot of Dr. Seuss read in my house these days, so doing tricks with bricks and blocks is something with whch I’ve become quite comfortable.  The candles in the charts are another trick brick block tack I take on here as well, as you know, and this weekend I’ve got three “outliers” for you.

Here are three charts for stocks I’ve been looking at recently and which I believe are showing some short and long term promise.   Keep in mind, the Jacksons are our long term picks, and while some of these may be good for a longer term hold, I wouldn’t characterize any of these as “buy & hold” for the duration type vehicles.  I’ve put some targets on these for your reference.   OTB-style traders rejoice.

First my old friend from the crazy days [[ARTC]], which is now trading pink sheets thanks to some accounting problems a few years back.  They’ve got a new management now and it looks like they may even re-list soon.  You can see from Friday’s spurt that the market has gotten a bit more accepting. 

Again, this is one you want to watch closely, but you might get a nice pop to at least the 200-day EMA here ($14) and perhaps a bit higher before it breaks of this current momentum run.   Not a long termer, so I just give you the daily chart:

Next is a stock with a little bit more long term potential, hence I’m going to give you the weekly look.  [[TRID]] is a digital chip maker that supplies the LCD market, one that’s gotten all kinds of hot here in just the last two weeks.  This is one The Fly likes a lot and as a consequence, has had the PPT (are you enrolled yet?) buzzing for the last two days.   Again, note the short term targets, and the “fantasy targets” well north of there.

My last look is a cousin of the Jacksonians in [[TIE]] the titanium producer.   As you can see, it’s broken above some significant resistance here on the weekly, and I think the 38.2% fibonacci is a promising target for the intermediate term, above $17-.    [[RTI]] is another significant mover in this space, but I think TIE has more room to catch up here, and so could be the more promising for a trade.  

As alway, please remember that dabbling in any stocks in this dicey of a market will likely lead you to a freak lawnmower accident while pricing John Deere “Zero-Turns” at the local Home Depot.   I’d much rather you convert all your money into Franklin dimes, put them into Mason jars and salt them throughout your in-laws’ backyard.

Best to you all.

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[youtube:http://www.youtube.com/watch?v=WMKxnYRhk6I 450 300]

I’ve liked this Hans Christian Andersen movie since I was a little kid and they used to show it on Channel-5 (Metromedia-NY).   I hadn’t realized until now that this was Hank Paulson’s first turn before the cameras.

Developing…

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I’m a little depressed tonight to find out my own trusty State Department has been harboring two American-born Cuban spies for oh…. THIRTY YEARS now.    And what’s even more depressing is that these Grade 15-level federal bureaucrats were not even gettting paid by Fidel — no, they did it out of love for that “bang-up” job The Beard has doing on his 50-years and running prison paradise down below Key West.

Not enough love for them to actually move there, mind you.

No sir, these two cheerleaders of La Revolucion were perfectly happy to stay in the often-chilly D.C. suburbs and bank their fat U.S. gummint paychecks (your tax dollar at work!) whilst romaticizing the good works of El Jefe down in the Caribbean.  

And sure… it was a nice place to visit and all, but… they wouldn’t want to defect there.  What with the palmetto bugs and all that.

Odd, no?

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I’m not gonna get all “Chartin’ Charlie” with you tonight over the portfolio.  I told you at the end of last week we were due a pullback, and I’ll be damned if we didn’t get it to the tune of (-2.25%).   Now stop yer cryin’ and start looking to pick some of these wounded suckers up.  Do it slowly, and with measured pace and you should be very pleased by the end of next week.   Or at least “gruntled.”  

Overall port ended up just a tad under 23% since inception, thanks to this week’s downer.  Here’s the rest of it:

Name	5-Jun	% Change		Weekly Chg		Comments
ANDE	$    30.05	6.48%		15.58%		Going to $33 near term.  Scary.
EGO	9.24	-2.94%		-4.64%		Doji’d on the 20-day (9.15). Could be it.
GDX	41.33	-5.01%		-4.79%		$40 is a likely target
GLD	93.71	-2.62%		-2.11%		20-day $93.22.
IAG	10.06	-4.64%		-8.71%		Oversold on the daily, but not weekly.
MON	81.98	-1.11%		0.61%		Meh.
NRP	24.50	1.07%		1.07%		Back above the breakout on the weekly!
PAAS	22.08	-5.20%		-5.60%		Nice pullback on the weekly.
RGLD	44.08	-4.57%		-4.46%		$42 possible.
SLV	15.01	-3.97%		-2.21%		Pullback first in 4 weeks
SLW	10.37	-5.30%		-1.14%		Weekly still a beaut on this one.
SSRI	22.36	-6.72%		-7.98%		Bounced right on the 200 week ($22.27)
TBT	56.94	1.68%		2.56%		Off to the races.
TC	9.92	-1.39%		-0.70%		13-34 week bullish crossover on the weekly
TSO	15.56	-3.11%		-11.14%		Bearish engulfing on the weekly, not good.
AVG		-2.49%		-2.25%

Be well, my friendos.

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Here comes that pullback we spoke about.   I’m almost positive we’ll see even more next week, for at least a couple of days.  Now if you’re a late comer, you’ll have a chance to nibble at some bargains.   For myself, I will be eating some egg salad sandwiches, and dabbling in more psycho stocks while the busted part of this economy continues on.   

Keep in mind, the Irish banks [[IRE]] and [[AIB]] are blowing the roof off right now.  If shelalegh-toting banks in Ireland are hoisting the Guinness this late in the day, I don’t think we’re quite ready for the Domesday (sic)  Book to be opened again. 

I will have some more charts and the Jacksonian results later tonight.   Until then, have a gin & tonic and review some driver safety films or something.

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I got good news and bad news on the market  front, ovah heah.   The good news is, I’m going to show you my Russell 2000 chart ($RUT), which I’ve been using to parse the market since before the first bank meltdowns of late 2007.   You see the Russell, even more than the [[SPY]] in my opinion, gives you a better view of the “overall market” than any other index.    You can also check it’s volume using [[IWM]] it’s ETF.

I find that the Fibonacci retracement lines work very well in analyzing the Russell as well.   Take a look at where where we found ourselves this morning:

As you can see we are bumping up against one of the stronger Fibonacci “Golden Ratio”  (inverse) lines at 38.2% (the other being the actual Golden Ratio of 61.8%).   I expect that means at least some sort of rest stop here.   That said the “good news” is that 13-34 week cross which implies further bullishness should it continue.   As I have attested, and I think even Woodshedder has agreud (sic) — the 13-34 week “golden cross” is one of the most significant bullish or bearish indicators out there.   

Let me know what you think, but don’t be surprised if I disregaurd (sic) your thoughts in a cavalier, dismissive way, whilst inserting snuff up my nose, all atop my “knee-controlled” white charger.

One other point — some of these biotech unpinned hand grenade small craps are pulling back a little today, and since I sold off 2/3rds of my [[HEB]] -brews yesterday, I may dip back into the Red Sea to rescue some more pedestrians today.    I also like [[IMGN]] here (thanks Henry!), but will not add more as I am “full up” to the brim with it.    [[SVA]] also bounced nicely off it’s trendline today, but I’d wait to see if it drops back to $2.90 before taking a chance on any of it.    The last insanity is [[CTIC]] which has been a darling of The PPT, along with [[BEE]].   I think the latter looks a lot more promising, but have not gotten any yet. 

As always, I recommend you stay as far away from the above paragraph as you would a Mossad Hit Squad with your name at the top of their list.   There’s no question your purchase of any of the above will warrant a quick waterboarding, coupled with a full-torso Obama campaign sticker “body bind”, finally finished off in a late night rowboat assisted drop into The Great Salt Lake, where you will bob for hours, your pitiless cries ignored by disinterested Mormon seagulls.

On the precious metal front, as I suspected, more pullback, but the metal rustlers cannot disguise all — [[PTM]] looks strong here, comparatively.   Slow and steady wins the race, old boy.   Best to you all.

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Update: I bot 2k more HEB to take with me across the unpaved Red Sea @$3.10.

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