$HUIs on the Horizon

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As I mentioned the other afternoon, it looks like it won’t be long now, for the dollar and the precious metal markets to once again take different tracks.  And that should mean good things for the miners, as evidenced in what appears to be an approaching turn in the $HUI Gold Bug Index.

Turns out this whole Greek fiasco is becoming something of a mud-stomp for our swarthy souvlaki-eating, Ouzo-swilling band of molotav cocktail pitchers, and it appears that the European Community might even be angling to kick the Greeks out of the Euro no matter what.  Hey, as crazy as it’s become in Greece, at least they don’t have Federal officials inspecting their kids’ lunchboxes for “nutrition violations,’ yet, eh? 

I say so be it, and let it be done.  Either way it’s apparant that Big Brother Bernank is not going to let some rock-throwing, Fiat-torching proto-Spartans ruin his very stable run into the 2012 elections (and yes, he’s running too, believe it).  So be prepared to be awash in liquidity here.  Drachmas?  Schmachmas! Take some digital dollars and shut up, already. 

Around 8 am this morning, currency traders tried to make the dollar go “pop!” but gold and silver are currently calling bullshit on all that.  Yes, these three can sometimes rise together like the greatly undervalued kings of the comedy stage, Larry, Moe & Curly (not really) in a Depression-era movie house, but more often than not, this alliance is proven false within a matter of days, if not hours.  As I type this, mean-spirited Moe (the US dollar) is taking a pratfall from it’s earlier spike over $79.60, and Larry Gold and Curly Silver (the fat, dumb one), are careening higher.

As I mentioned earlier, I will also be looking for a turn in the miners here.  My weekly chart shows us approaching the bottom of that channel I pointed out the other day:

 

And the daily chart shows an even more clear bottoming in the stochastics.  Note also we almost touched the bottom of this (admittedly loose) consolidation triangle yesterday as well.   

 

 Quite a few of my stocks popped in the last hour of yesterday’s trading (along with the whole market, of course), including my March Madness pick, AUY. 

I had thought that contest was starting this Friday, for some odd reason that seemed truly logical only in my own beleaguered head.  I think that launch would have been perfect, but in the meantime, I’m in a bit of a hole, so be sure to purchase as much AUY as possible here, and to short that hideous purveyor of ethically questionable time-share vacations, AWAY.  Thanks in advance, and…

My best to you all.

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Please do not take my lack of attendance here as proof that I do not love you.  The truth is, I’ve never left you…

All through my wild days…

My mad existence.  

 I’ll keep my promise, if you keep your distance.

(and scene). 

PS — Anyone who watched WPIX-11 as a kid in Noo Yawk knows that song by heart, if only by dint of it was the only commercial that ever played weekday afternoons between the Brady Bunch and Star Trek.   Ah, teevee, my beloved babysitter!   That’s what’s wrong w. kids these days, btw.  Not enough teevee.

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A quick repair to the dollar charts.  It seems as if old man dollar is trying to ruin everyone’s Mardis Gras by busting a move here, late Monday afternoon.  Problem is, he’s got nowhere to go.   Gold, silver, frankincense and myrhh have all sold down the last couple of days, just in time for the U.S. dollar to finally make it’s last hurrah, and look!  …

Nowhere to go:

 

 You want to fight City Hall run by the Bernank? You might as well try to fight Madonna with Whitney Houston’s Baftub.   Your arms are just too short.  Let’s see… $HUI is just about done cycling down, and the dollar’s got a date with $79.80 or so.  

As far as I’m concerned, you have your instructions.

Best to you all.

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The glow has begun to abate and I am back in the loving embrace of my immediate nuclear family again.

And away from that drunken sot of a brother of . Away from his fistful of aluminum bottles and his near-magical affinity for attracting state troopers at the exact wrong time.

It was great to check the Superbowl box off the bucket list, however, especially given the “down to the wire” exigency of the finale, though I think my stomach could cope better with a blowout (on either team’s part).  It was also excellent to do it with family, too… with a guy I’d been going to Giant games with since we were little kids.  I’m only disappointed that babies kept two brothers away and Vegas the third, because I think Dad would have liked all of us to be together in these seats I found.  Seats that were so eerily close to where we all used to sit in the old stadium… where Dad used to sit.

I had a hellacious day at work today because I’ve really got no time to be taking even weekends off, never mind the odd Superbowl Monday I used for travel and “recovery” yesterday.  But things are hopping right now, thanks to this current odd mixture of liquidity and nervousness.   A lot of shareholders are taking the money and running these days, deciding discretion is the better part of valor.

But Ben keeps the presses moist and full of fresh green paper, because after all this is an Election Year.  And a year when the Giants are Superbowl Champs.

It’s only February, but this really is shaping up to be a magical year already, no?

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No position changes today.  I might even add tomorrow if the dollar continues to break down, however.  My March Madness pick is the previously mentioned AUX gold stock, btw.  I hope you will join The PPT to participate.

My best to you all, and thanks for your patience and indulgence.

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[youtube:http://www.youtube.com/watch?v=EOCH5e2QCIU 450 300]

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Look you, I’m not named JakeGint out of some whim or queer circumstance.  I chose that name because I’ve got a three generation relationship with the New York Giants and frankly, I’m nuts about professional (American) football.

Call it a weakness, call it folly, blame it on the encroaching general degeneracy of American youth culture.  I don’t really give a damn, frankly.  I’m going to the Superbowl.

Here at iBC, we’ve got Limey’s, we’ve got Frogs, we’ve got Canucks and we’ve got Wogs.  I don’t care who you are, you’ve an affinity with some sports franchise, either directly or through some beloved male relative.  It may be “Football” or even “futbol,” but that matters little.

So, in summary, just shut the hell up and indulge me, here.

The real question is who has the edge?  Incredibly, Tom Coughlin, the much maligned head coach of the Giants, has a 4-1 record against the Genius Bill Belichick since they were both made head coaches.  This is no small thing.  Bill Belichick is probably the greatest NFL football coach that has ever walked the sidelines.  Yes, he may even be the superior of Vince Lombardi, who played in a far simpler era.

And here’s a crazy aside — I love Bill Belichick.  When I was a kid, he was the New York Giants Defensive Coordinator, and   I prayed he’d be our head coach after Bill Parcells retired.  Unfortunately, that fat bastid Parcells was too full of pride, and waited a full year to leave the Giants… just long enough to let Belichick leave to coach Cleveland.  That was not coincidental, btw.  Parcells knew Belly was the reason the Giants had won two Superbowl titles, and having him win another TEN Lombardi trophies with the Giants would have been a poor reflection on Parcell’s record.  So he ended up in Cleveland and New England instead of where he belonged.

But that is all done,now, and we are enemies tomorrow.  This saddens me but does not obfuscate the fact that Coach Coughlin has dominated Belly for years now.

Can that continue?  I’ll leave you with some stats that might be of some use, and with the discussion.  I will try to log in tomorrow at various times, but know that I am going “all in” tomorrow in Indianapolis, and will be extremely busy.

I am hoping for glory, but know that I am living on borrowed grace, no matter the denouement.   I say “good day” to the loyal Patriots fans, but I will hold off on wishing you all good luck.

You have Tom Brady and Bill Belichick on your side, and I should think that is all the luck you will need.

My best to you all, my friends.

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It’s not surprising that when gold and silver and the rare earth metals begin to take off, the other commodities begin to show perky life as well. “b

In one case, the “black gold” coal commodity play is beginning to take off again.   Consequently, I’m going to reintroduce a rocket that failed on me recently, but which I am willing to give another try given it’s action the last couple of days.  That rocket is the mercurial  PCX (Patriot Coal):

Who says I don’t like to pick the Patriots?  Heh.

Next I’m going to look at another old gold favourite NGD which has finally broken out (two weeks ago now) and is looking to at least equal old time highs:

 

Those more recent highs are at $14.  I think we consolidate there and get ready to dig clams immediately upon resumption of the up move.

My last chart should be familiar as I posted it just the other day.  It appears my call on REE at the $6.05 pullback was a correuct one  and now REE has broken resistance after a short consolidation.

 

Not quite sure how far this one will launch this late in the cycle, but I think that all the rare earth metals will continue to rally.  REE is one of your stronger plays in this space.

My best to you all, and good night.  I’m feeling zombie-tired and I need to store energy for the SuperBowl.

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Rare earth metals became even rarer today, as three of our major home slices of pizza, AVL, QRM and even benighted REE, the “grandfather of them all,” roared ahead like they were not just rare, but steak tartare- level impossible to find.

I think all of them have room to go, but I like AVL as the immediate purchase, with REE and QRM following perhaps by the end of the week.  Here’s my take on AVL:

As you can see, that first resistance level has been suborned, so even if you purchase tomorrow, that $3.o7 level should stand firm as a base going forward.

My second favorite is REE, which had a monstrous move today that dwarfed all of its rare earth compadres.  Check out this daily:

 

 

Note also, however, that we are coming up against all kinds of resistance here, and the stochastics are egregiously vertical.  That spells “pullback” for me, at least for the near term.  This is one that last week I was posting in The PPT as a buy at $6.05,  so be ready for another blastoff soon after this.

My last look is at QRM, which I’ve mentioned here before and which also had a nice move today.

 

As I mentioned earlier, this one is not as attractive as it butted up against resistance but did not break through.  I think that means we probably consolidate, but that volume spike also generally indicates we are going further north.

Best to you all, and remember to watch this sector along with metals more precious..

 

 

 

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