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Amazing how quickly everyone is willing to attest to the death of the king, no?  You would think that after ten years now, some would be willing to give this bull the benefit of the doubt.   Instead, we’ve got closet morticians coming out of the woodwork and stretching their yellow tape measures in anticipation of parsing out a pine coffin.

I say, “not so fast, dealers in embalming juice.”  Who gave you leave to drag out these corpses, anyway?   A quick once-over with the infrared scope will tell you they are merely sleeping.  What’s more, a more practiced eye will tell you when to climb back on their dorsal fins and flukes, ready to ride the great beasts to glory.   And yes, I have some suggestions…

The first–XG — may be ready right now.   By the bright scimitar of Kirby Puckett, it is my #1 pick a the moment, despite Jeremy and Fly’s steady refusal to feature it in The PPT.  No matter, just look at the fight in this young monster:

As you may note, that recovery candle could very well signify that XG is back and off to the races.  My next two are not yet as ready, but in my mind offer some very appetizing entry possibilities in coming days.   As they are crowd favourites (sic), you should feel favoured (sic):

Here is a stock– AG —  that was trading over $27 in the most remarkable bull of the 21st century.   And you might be able to get it at almost a 30% discount?  Remember to give alms if you are so favoured, sir.

Last, is our lovely grandmama, RGLD, which may allow us entry into her cookie pantry at a most opportune price.  Be on your best behaviour (sic) and she may deliver you a choice Tollhouse, or three:

Consider these next few days a rolling Christmas Eve for gimlet-eyed adults.   Just remember to stay off the rum toddies so you’re not caught nodding.

Best to you all.

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It’s raining cats and dogs here, and the drowned goats are accumulating on the banks of the river.

Time to start accumulating said goats for want of a strong spiced jerky that will carry you through the latter days when the Bernank’s stricken peso won’t even be exchangeable for a handful of magic beans.   Do you have your targets set?   I have mine.

Go ahead, put an order in for SLW at $38.00, and maybe some AGQ at $295 and some EXK at $10.30.   Who knows? You could get lucky.  Or you could get sad.   You can miss by a nickel on either side of the stanchion.   But what fun would life be with no chance, no uncertainty?

Whatever the case, I will be waiting and watching during this pullback.  Like an otter stalking an adder, I’ll be waiting for some opportune moments to rebuild my EXK/SLW/AGQ positions.   I also think that RGLD will come exactly back to the $55-56 breakout level from which it recently launched.  The ANVil may even return to the lower 30’s for those who missed it last time.

What opportunity awaits those Quakers who have missed so much over the last glorious month.  Even if you were never a fan, there will be opportunity for you to laugh with the bull very soon.

Very soon.

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NOTE: This was a Thursday morning post, although still relevant.  Apologies for the rasslin’ w. both location and WordPress problems…

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Silver is in a runaway move here.  There, I’ve said it. It could end within ten minutes of trading today, or it could end in two to six weeks from now.  I really believed we’d get a sharp pullback from our most recent moves, and perhaps we still will, but there’s no denying we’re in major breakout territory here.

I have no advice to give, save that you do not get reckless and leverage yourself into ruin.   I have been cutting back here, and adding to my gold names in hopes of a catchup.   This late in the day, however, is not the time to start getting careless.

Here’s the thing… this will end and likely soon, but it will not be The End, if you know what I’m saying.  In other words, there will be other opportunities to play this bull.  Make sure you have the capital to do so.

Right now, I’d be looking at underserved names… Ironically, SLW is one of them, as it had a hard pullback yesterday, if only to it’s 50-day EMA (and 13-week EMA as well).   I may grab back some of the exposure I sold there over the last couple of weeks.   I will know by 10 am what direction I will take.

I also continue to like AAU and a number of other small names which should be popping today.  Check also AUMN on the gold side, as well as IVN and BAA — two other late bloomers.  

Best to you all.   Oh… and Happy Maundy Thursday and Passover.  Think about going to church/shul this year.

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[youtube:http://www.youtube.com/watch?v=Fo48YpNOesQ&feature=related 450 300] _______________________________

Ugh.  I cannot bloody believe it.  I just had a perfectly wrought lengthy post with graphics and witticisms galore… I pressed “Publish” and “voila!” I got the screen of zero tranquility.   Apparently my entire post was wiped save for the foolish youtube video I’d downloaded earlier and “saved” to make sure it was showing up.

These are the petty frustrations of the financial blogger my friends and they are enough to drive one mad with righteous anger.   So forget about the witticisms and the re-boot of my day of travel.  Just know that I believe silver is becoming dangerously overvalued here at 52% over its 200-day EMA, while gold stays strong but humble at only 11.4% over it’s same metric.

I didn’t sell anything more today because I was either driving or talking or talking and driving the entire trading session.  Had I seen these things, I would’ve dumped more silver miners.   I’ll probably do that tomorrow.   In the meantime, two friends have shown progress.   The first we spoke about mere days ago.  

Look what XG has done since:

The second is our beloved Grandmama… asleep these many months, but waking now to a new day.  Just as I predicted AGQ would rise to $300 this year, so too did I prophesy that RGLD would reach $100.   I think today was a significant step toward that goal.   Grab it on the retrace:

Note, this is a weekly chart and that’s one big grandmother of a consolidation…

I also like RBY here… stay well, my friends.

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Silver’s lost its mind and is seemingly out of control.   It’s up another 75 cents tonight at at new highs in the upper $43.30’s.   Like a monkey that just had his rhubarb stick stolen, I’m standing here and continuing to sell into the whirlwind.

For example, I let loose another 600 shares of AGQ, this time at over $285.   I marvel at that price, as I can remember buying AGQ in the $20’s the first time around, and now you can make the downpayment on a decent Miami Beach condo with only 100 shares.  

I also sold more EXK, more MVG, and started selling SLW for the first time this year.  Last, I sold a large piece of my NGD, which had become cumbersome in it’s size, but is now more manageable.

Don’t get me wrong — I still have some 65% of my original PM positions, I just have a gut feeling, honed on many years of having that same gut knifed by this thinly traded murderous market, that it’s time to take some profits here.   Pigs get slaughtered, etc.

I will continue to look for a break here in the silver momentum.  I don’t expect it will very long when it comes, but it might be scary enough to shake some of our weaker hands.   I will look for more opportunities to divest into the whirlwind tomorrow as well.

My best to you all…

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[youtube:http://www.youtube.com/watch?v=CEEUGaQTTQ0&feature=related 450 300]

(Can you believe this guy once married the most beautiful woman in the world?)

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It’s an unsettling time isn’t it?  Jake just said to you scant days ago, “Time to trim the sails, we’re in for some rough weather,” and yet silver keeps marching up to some argent Elysium, like a donkey with an egregious rutabaga tied to its head.

It can be frustrating, no?  Well, don’t take it hard.  Heck,  I sold almost 2,000 shares of AGQ the other day thinking I’d buy back in the low 200’s.  Silly me.

But I don’t let stuff like that get me down.  As I was explaining to a compatriot on The PPT today, we shouldn’t be afraid to hop right back on, even at a higher price, as long as we maintain the discipline to re-invest the same or smaller moneys that we originally received in exchange for our sold shares.  

This is important to remember.   Just like in the wider stock market, there are plenty of other shiny metal fish in the seas, and we need to build the maturity to be able to re-allocate resources to other, perhaps better valued opportunities.  A good example I can provide would be my decision, some time ago, to sell some SLW and apply those funds to a new stock I’d decided reminded me of old SLW at the $3 level at which I had originally begun buying it.

That stock, some of you may recall, was EXK.  

Today the cycle turns again, and I find myself selling off some (about 30%) of my “topped off” position in EXK in the $12+ regions.   Those on The PPT will attest that I took a full 10,000 shares off last week.

I have yet to buy any back, and I may never do so.   My eye has turned to other seeds that may enrich my garden plot.  Perhaps some GPL?  Some AG?  A touch of AUMN, or crappy BAA?

… or maybe, just maybe some more XG, my favorite spinoff junior goldie, which is beginning to look might ripe:

Stay thirsty, my friends.

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