Get in the Smelter!

Jake Pours A Special Treat for the Bears

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You can tell by the twinkle in his eye that old Pat Boone’s having a special day.      And so are tthe loyal Jacksonian JakeGint Brigade.

Gold is now in new all-time high territory @ $1041.70 an ounce, having smashed the former $1,033 ceiling with gusto this morning, as our friend, Mr. Dollar plummets once again to it’s flash-paper grave.  

In the meantime, silver is the purchase of the century as it still lags gold in targetting and achieving it’s old $20+ highs.    Silver is still one-sixtieth the price of gold as well, compared to more historic ratioss of 40:1.

 I’m still targetting a $21.95 price for [[UUP]] , and we may break to new lows from there, thanks to swarthy men wearing bedsheets and mis-treating their camels half-way across the world.

How dare they object to our running off sheets and sheets of green paper with Ben Franklin’s visage on it and exchanging said specie for their greasy petrol?   Don’t they know what attractive wall covering that shade of grey-green can provide?

Not to mention window-treatments.

Not to get all “stuffed-in-the-gut” about how all my dollar defense dragons are tearing ass on this market and making investments in TV-tubes and natty gas service companies look like so much Baltic Avenue rowhouse property (we have Mr. Boone for that purpose  anyway), I’d like to point out some exaggerated gorillas whose armpits you may wish to shave at some point today…

(That means “take some fiat off the table” for the metaphorically challenged)

Silver Wheaton Corp. (USA) [[SLW]] will likely come back to it’s breakout at $13.35 or so.

Hecla Mining Company [[HL]] is a crazy stock and will likely meet stiff resistance at $5.00.

Wait for a break of $21.96  to get back on [[CDE]] , otherwise, it should fill that gap again at $20.41

Silver Standard Resources Inc. (USA) [[SSRI]] has an optimal entry at $21.75, but otherwise it should get held up at $23.25 or so for the near term.

[[PAAS]] is “BTFO,” but will likely return to it’s old high of $24.81 before heading to new pastures.

Golden Star Resources Ltd. (USA) [[GSS]] will be BTFO at $3.71, but is a buy on a pullback to $3.38.

That’s enough free fritatas for now, pikers.   Sign up for The PPT to get the full-fire hose effect of instant portfolio nutrition.

Off to commiserate with mountain dwarves and other horders of glittering treasure piles.

Slante.

 

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

Nominated for “Best All Time Song with Worst Video of Prospect Park, circa 1991”

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To gauge for yourself  if I’m having an “approachable day” or not, you can now repair  to the wholly representative Pat Boone Metal Page  for a safety-conscious review.

If things are bright green over there– like a Springtime Shamrock Shake Party at Ralph Nader’s house in Galway — you’d be able to walk up and hand me an Obama hymnal with little chance I’d even go thin-lipped on you,  never mind laying you low with a carotid chop to your whoreson neck as you’d fully deserve.

However, if things are as violent a red over there as Pammie Anderson’s tuchus at a Tommie Lee “bring-your-own-cricket-bat” lingerie party  you might want to be a bit more circumspect.    Silent, even.  

Because as much as I may hide it here, with my cool equanamity and Mad-Men inspired pork-pie hat, I’m all a-scramble inside when my beloved metal friends do the snake dance of volatility.

And these strumpets have been volatile lately, as strumpets are wont.  

On days like these, however, the addition of account zeroes to my tally only makes me look upon these assets with more fondness and father-like mirth.   Tonight, I promise you I shall chuckle to myself as I stuff my certificates into silk pillows and hide them in my upstairs attic, next to Aunt Ida’s skeleton, where the “revenooers” will never find them.

Don’t get any ideas, whoresons, she was a 40-year Anatomical Sales Associate for Barr Labs before retiring to Winter Garden.  She left me that sample as a wedding present.

Today’s coin banquet included the Brutish Doubler, [[AGQ]] ,  the loverly [[CDE]] , the timid yet precocious [[EXK]] and the schizophrenic girlfriend of silver miners — Hecla Mining Company [[HL]] .  

If you’re sensing a pattern that “junk” silver is heating up, well, give yourself a pre-’64 Washington quarter.  But just one, as they’re dear to me.

Even the more traditional Jacksonian silvers did well today, however, and you should be “A-lways B-e C-losing” on Silver Wheaton Corp. (USA) [[SLW]] , [[PAAS]] and Silver Standard Resources Inc. (USA) [[SSRI]] like that fat-ass Alec Baldwin closes in on a  jelly doughnut that’s rolled off the catering cart.

On the gold side, the price of gold was up $14  (1.4%) today, (as opposed to volatile silver’s 2.8% increase), and the juniors showed that there might be more to come, with New Gold Inc. (USA) [[NGD]] and Northgate Minerals Corporation (USA) [[NXG]] , Rubicon Minerals Corp. (USA) [[RBY]] , Gold Fields Limited (ADR) [[GFI]] and new-comer pocket Hercules Nevsun Resources (USA) [[NSU]] tearing it up today.

Non precious, non-Jackson holdings that did well today also include [[CAR]] , Amkor Technology, Inc. [[AMKR]] and The PPT favourites (sic) [[ENTR]] and Trident Microsystems, Inc. [[TRID]] .

All in all, it was a day where I’d say I’ve earned myself a spanking new sheepdog, or a well-combed Lhaso Apso, in the least.

I predict more volatility and personal moodiness on my part, so don’t forget to check the signs before approaching.   I’m still saying we ride the Jetson Rocket Sled into Christmas and feast on bull in the New Year.  

Check your chinstrap, and let’s get going here.  Best to you all, but see you lucky ones in The PPT.

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The word from down here in the midst of my cold, damp and mutton-bone strewn hole is “chastened.”

I’m just going to leave up yesterday’s boast  — with it’s eyebrow-arching results red with glory –as a lesson to me about hubris in the face of Mother Market.  

She holds a ruler, you know, and it’s forged from annealed titanium.  

I’ve got the scars to prove it.

That said, I’m happy that some of my correspondents got to participate in some of this fear trade today with the added bonus of a fat discount from yesterday’s prices.   I’m thinking specifically of IAMGOLD Corporation (USA) [[IAG]] and Eldorado Gold Corporation (USA) [[EGO]] , [[CDE]] and Silver Standard Resources Inc. (USA) [[SSRI]] which were all bludgeoned yesterday and which I believe have now become nice opportunities here, especially on the bounce trade that will come in at some point tomorrow morning.

So wait til the afternoon, or a sell-off in the dollar, whichever comes first.

Enjoy these key bargains, whilst I gnaw (with satisfaction) on one of these stringy gristle-bones with which my carbuncle-encrusted gaolers (sic) have  pelted me.

I am ever so grateful.

Slange* (sic).
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*(Do not be fooled, it’s an Irish oubliette)

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(Ain’t talkin’ ’bout love!)

Ultra Silver Pro Shares [[AGQ]]

Allied Nevada Gold Corp. [[ANV]]

Yamana Gold Inc. (USA) [[AUY]]

Banro Corp. [[BAA]]

 

(My Love is rotten to the core…)

Citigroup Inc. [[C]]

 

(Ain’t talkin’ ’bout love……)

Coeur d’ Alene Mining Co. [[CDE]]

Powershares Double Silver ETN  [[DBS]]

Powershares Double Gold Long ETN [[DGP]]

Eldorado Gold Corporation (USA) [[EGO]]

Corriente Resources Inc.  [[ETQ]]

Endeavour Silver Co. [[EXK]]

Market Vectors Gold Miners ETF [[GDX]]

 

(Just like ah told you be-foah, be-foah, be-foah!)

Gold Fields Limited (ADR) [[GFI]]

SPDR Gold Shares [[GLD]]

Golden Star Resources Ltd. (USA) [[GSS]]

Hecla Mining Company [[HL]]

IAMGOLD Corporation (USA) [[IAG]]

NovaGold Resources Inc. (USA) [[NG]]

New Gold Inc. (USA) [[NGD]]

 

(Hey! Hey! Hey!)

Northgate Minerals Corporation (USA) [[NXG]]

Pan American Silver Corp. [[PAAS]]

Rubicon Minerals Corp. (USA) [[RBY]]

Royal Gold, Inc. [[RGLD]]

Seabridge Gold, Inc. (USA) [[SA]]

 

(Hey! Hey! Hey!)

iShares Silver Trust  [[SLV]]

Silver Wheaton Corp. (USA) [[SLW]]

Silver Standard Resources Inc. (USA) [[SSRI]]

Thompson Creek Metals Company, Inc. [[TC]]

Teck Cominco Limited (USA) [[TCK]]

 

(Ain’t talkin’ ’bout love……)

(Ain’t talkin’ ’bout love……)

(Ain’t talkin’ ’bout love!!!)

(fade out)

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[youtube:http://www.youtube.com/watch?v=iOkZ2zhCx5I 450 300]

Aside — if you weren’t such a piker, you’d join The PPT and catch me pounding out these winners like freshly minted doubloons on a daily basis…. tsk! tsk!

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What’s not to like when Fly and Henry Agree on Lithium?
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I actually worked this chart up on Sunday, but I didn’t think Sociedad Quimica y Minera (ADR) [[SQM]] was quite ready at the time.    Though not for the SQeaMish, this name is near-Jacksonian in character and ingredient (click for profile).

Being from South America, the land of “What Can I Nationalize Today?” is certainly a negative for SQM, but we can take some comfort in this company being located in the relatively free market country of Chile — Uncle Miltie’s playground, may his blessed soul rest with the angels. 

I like the play — and consider it quasi-Jacksonian — because it mingles the best of the agricultural boom aspects of my Jacksonian thesis (note: The Andersons, Inc. [[ANDE]] remains my top performer, up over 114% since May 1st) and the latest crazy Fly, crazy Henry Foo’ and even crazy Ozzy J “lithium insanity” (no pun intended, though surely all three require ample lithium dosages for a “stable day.”)

I also like the chart.   I cautioned Fly last week in The PPT (why haven’t you signed up yet?) that SQM’s last peak high on 9/18 at $40.44 was right at itslong-term  61.8% retrace (which falls right around $40), and that it was likely we’d see a little more of a pullback than we had before it breaks back above that important fibonacci line.

Well, I think we got that on Thursday and Friday of last week with the dip down to $37.86, and then one more time this morning with a final scare-off to $38.59 .    The cautious among you may wish to wait for the final break above $40 for the “all clear” to enter here.

Certainly Prudence would approve.

I’m getting in right now.   Slange (sic)

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Quick explanation on the chart — the vertical lines are aligned with the same place on the RSI that the chart was as of last Friday.  As you can see, in some instances it continued down and in others it rebounded.  I thought it would rebound given similarities to other points on the chart, and it looks like it’s doing just that as of today. 

Alert:  Buy all Jacksons on the dollar break of [[UUP]] — below $22.79.  I like [[EXK]] , [[BAA]] and Allied Nevada Gold Corp. [[ANV]] again today.   Silvers should run too.   Slange (sic).

 

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“Buy! Buy! Buy!  Booooo-yaaahh!”

I’m going to give you a night off from the precious metal plays, since you shouldn’t be squeezing your head like an overipened melon about those picks every day anyway.  Relax and have a clove cigarette or something.

Stop obsessing about [[EXK]] and come look at what I have over here, damnit.    And Capricorn One, you petty thieving third tier somnabatch… don’t think I don’t see you over there in the corner taking notes.   You’d better at least change the title of the post on this one … goat faced fugger.

First up, a stock I got “amped to” by none other than Johnny C. Lee, back in the bad old days of early summer, when it was in the sixes and he was “renting” it for the day.   I liked his  [[CAR]] so much I just kept it, and it’s been blowing Benjamins at my feet ever since.  

I think you can see from this daily chart, why I think that after today’s action, it’s getting ready to start running those printing press again like The PPT during earnings season:

 

“Treat #2”  (or is this one a trick?  I can never remember) is an old favourite (sic) of mine from down Bluegrass Horse Studdin’ Way — Lexington, Kentucky.   Rather than pay rednecks to stand around and watch horse-on-horse action, however, this enterprise NGAS Resources, Inc. [[NGAS]] pays Bill Daugherty and company to punch gas holes instead.

You may recall this company’s egregious summer financing, which had many a PPT and piker player crying in his suds.    Well, recent volume buys have signaled — along with today’s nice 7%+ move — that it’s getting close to “go time” for this puppy as well.   Feel free to eyeball my latest graphics efforts on aforesaid Two Buck Chuck —    $2.50 is where I’m buying, maybe as soon as tomorrow:

Go forth, be fruitful, and multiply thy Benjamins.    I may throw one more treat out intraday tomorrow…. or maybe just to The PPT… we’ll see.   Beazer Homes USA, Inc. [[BZH]] looks ready to get going as well.

My best to you, even to the pikers.

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