iBankCoin
Joined Apr 19, 2009
721 Blog Posts

The 11th Hour of the 11th Day

vets
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I have a daughter who was born in 2000.  She’s going to a classmate’s party today, and you guessed it, the classmate is also 11, on 11/11/11.   Pretty cool.  Of course my daughter also knows kids that were in 10 on October 10th and 9 on September 9th, and almost all the way down the line.   I guess that’s one of the hidden perks of being a Millenial Baby. 

Of course all that fun ends next December on 12/12/12, which will not coincidentally also soon after auger in her first year of teenagerdom.  Teenagerhood?  Teenagedness?

In any case, I’d better gird my loins.

But let’s not lose sight of the importance of the Day itself, written into history in 1918 as the end marker of “The War to End all Wars” — WWI.  Unfortunately that was a bit of hubris, wasn’t it?  The very Treaty (Versailles) signed that day in fact set the groundwork for an even worse World War only a little more than 20 years later. 

The study of history shows that human nature is cyclic, and that we tend to make the same mistakes, no matter our careful plans to eradicate them by mutually agreed consensus.   There will always be those who seek to take advantage of said consensus, just as there will always be those claiming we’ve finally arrived at the “End of History.”  

To expect otherwise in future is a fool’s game.  We can only do the best we can, and improve ourselves individually and as a society by gentle consensus, and with a constant and humble awareness that we will backslide.  That knowledge, that humility, will allow us to rebound all the quicker.

I would humbly suggest we hold then to our accumulated traditions, our respect for others, their person and property and our fealty to consensual agreement over forced autarchy.   For these are the traditions that set the Free People of the West apart from civilizations of the past, and from the failed societies of the present.  

But let’s also be most cognizant that these traditions are under fire from many quarters, and that in many cases, all that stands between them and the less enlightened cohorts of the past are the blood of those willing to defend their preservation.

So let’s raise a glass to our Veterans, and to those who carry the sword — voluntarily — into battle for our civilization today.   And pass that good word to a soldier in uniform not just this day, but from this day foreward.

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As I expected (was hoping?), the dollar gnomes have collapsed the dollar anew.    This has led to some very nice activity in the silver and gold pits, with the kind of flagging (bullish) that makes my heart grow fond.

I will likely add here and there to my hordes today, and will let you know if I do.  Right now I am enjoying strong moves in SLW, EGO, IAG and my various ETF plays, including the doubles AGQ and NUGT.

As always, if you want to toe-dip, start with the basics — GDX, GDXJ and SIL.  Highest octane is in the crazy silvers, like my favourites AG and EXK.  Today and for the next few days, SSRI should also be moving to make up for the plungerooni (overdone) yesterday.

Lastly, don’t forget about the “rare earth” plays like QRM and AVL for added dollar inflation pop.
My best to you all on this day of honour.

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Holding Max Sammitch

[youtube:http://www.youtube.com/watch?v=bfhkuXuQ9eA 450 300]

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What are you doing moping about as if the moon has hit your eye like a big pizza pie?  That’s only ammonia (anhydrous), and don’t take big breaths if it’s making your eyes water.

Italian bonds made everyone in the market sad, and yet I chalked up another win in my real life.  This is getting kind of ridiculous and I’m beginning to see visions of fat smiling men wearing fezzes and carrying sharp harem scimitars from lack of sleep.   I could have the best year of my life and my wife could be spending it (and the insurance proceeds) with her new boyfriend on the Riviera this time next year.

And during all that chaos today the market was melting down.  At first my golds and even silvers hung tough, but then even they succumbed to the great vortex that if forming over the gladiator cages of the Coliseum in Rome.  Sylvio Berlusconi was the first round heeled slick bastard to get sucked into that vortex, but for all I know there’ll be prominent members of the Vatican entering it next, only to find themselves ended up in some alternate universe heaven or maybe an independent book store in Dubuque.

Tonight I thought the Herminator acquitted himself well, getting off a couple of good zingers on the Dem party faithful like Chris Dodd, Barney Frank and Nancy “Princess” Pelosi.  Rick Perry’s Gaffemasters Speaking Tour continues to everyone’s great chagrin.  Mittster continues to disappoint with his pandering bullshit about a tax cut “for the middle class.”  WTF does that even mean, Mitt?  What is “the middle class” and aren’t “targeted tax cuts” an instrument of Democrat policy?  Get with the program or you’ll never get the nomination.

Newt Gingrich was clever, but looked like some kind of giant marionette up there on stage.  Could’ve been the lighting.   Rick Santorum looked like hell and geez!  Whine much?  Huntsman was equally unimpressive although he did try to make some good points on tax policy that were “acceptable.”   Michele Bachmann… I hate to be sexist but she’s pretty damn cute, and just as Stepford-ish as you can hope for.  Policy wise?  Meh.

I was busy today and did nothing at the site but watch the Monsieur buy some RGLD.  I looked at some SLW at the end of the day as well but got called into a meeting before I could do anything.  I do like that it’s coming down on it’s 200 day EMA.   I think it will bounce there, at $34.70, and that’s where I may be adding.

Besides those two, NGD and AUY held pretty strong relative to their peers.  Look to them tomorrow for a first bounce.

Hang in there, we are oversold like few times I’ve seen, and I think we rebound tomorrow, but maybe not until late morning.

Best to you all.

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The Turkey Was Gilded

gold turkey

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Things just keep getting more and more peachy around here.   On Friday, as I revealed yesterday, I threw caution to the wind and grabbed a whole lot of miner and double ETF picks that I had a feeling would make a strong move this week.  Today I was rewarded for that Erroll Flynn-ish type of move not only by a strong move in the precious metal sector, but also a bonus Eagle loss to a team they should never lose to if they believe themselves contenders this year (sorry Bears fans).

Especially not at home.

That puts my Giants three games ahead of the “Dream Team” Beagles, albeit with three tough games still ahead of them (and one in the rear view mirror in Gilette Stadium -heh!).  There’s more than serendipity at work here, methinks…

Could it be the Turkey Gods are blessing us all in advance?  It’s quite possible, especially when you look at the evidence available in the $HUI — an index which up to now has been quite vexatious to those of us who trade “the original coin.”

But look what the weekly is telling us now… not only are we breaking out over old levels, but it looks like this time we’ve ample time left in the run.  Check out these stochastics on the $HUI weekly —

 

That’s right, we’re near the famed “$610 Maginot Line,” again, and with adequate momentum to take those levels out with aplomb.  And we all know that breakouts beget breakouts, don’t we?

So grab your favorite gold miner or royalty financier (RGLD!) or even multi-varied ETF (GDX, SIL, GDXJ), because I think there’s more fun to come.

I may even grab some NUGT tomorrow if I can squeeze some time out of my fire extinguishing duties.

No rest for the weary Gentlemen (and Ladies).   I will see you all around the coyne shoppes.

Best to you all.

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Half A World Away

[youtube:http://www.youtube.com/watch?v=MLMnpB51vVM&feature=related 450 300]

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I may be half a world away, but  I’m still checking in on you chickies.  I know that the precious metal trade remains robusto, despite the dollar’s flirting with Euro-shagging here in the late late Sunday evening.   (Believe me it’s even later here).

Just so you know, I loaded up on AGQ, RGLD, NUGT, SLW, AG this past Friday for better or for worse.  Here’s what I’ve been looking at from an AGQ basis:

 

Note the long consolidation phase and the promise of a couple of weeks?   Heck, that week may even be here.

And the there’s another.  “Besotten Dick” we call him and up aways at the motor hotel we hear about the same preachers who try to smolder the ladies on Sunday morning only to poke out at the end.

His ticket of choice is IAG, a much disparaged gold stock that need to reside safely in American hands…. so as never to be dispatched by foreign antipaths again.  You may call this analysis but I call it mental telepathy.

Amazing how many of these things come out when the games are hot  no? Coincidental?  I think it might help put the nearest Jakesib in the looney bin should he act up..

Best to you all.

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Just A Song Before I Go

[youtube:http://www.youtube.com/watch?v=pF-oWhD2itE 450 300]

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Please don’t let the dollar rip your guts out over the next couple of day, eh?  As I’ve mentioned I’ll be outta heah (ovah heah) for the next five days or so.   I should be able to log on with no trouble when I get to my destination, but I make no promised.  I’ve been through enough travel hell to know never to take anything for granted.

That said, I’m headed to such a civilized place that they spell it “civilised” out there, what? Carry on old bean, stiff upper lip, bite on a hard scone and all that.

The miners rebounded today nicely, but I’m not yet convinced we’re done with dollar turbulence.  That said I am hoovering, ever so patiently, and ever so slowly, on select lots of RGLD, BAA, SLW, EXK and AG, not to mention filling in the chinks with plenty of GDX, GDXJ and SIL.   If you don’t want to mess around with individual stocks, those three are your best bets for the mining sector.

I really believe the $HUI might revisit $560 again.  If it does, and we get the bounce I expect there, that’ll be your green light.  Best to you all, and I’ll try to check in again over the next few days.

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Pumpkin Head Market

[youtube:http://www.youtube.com/watch?v=sEDw9xgSmSc 450 300]

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I’ve found a bipartisan effort I invite you all to get behind.  Yes, that was me, invoking the word “bi-partisan.”   Harken quickly and not so lightly, as this will surely be a rare occurence not often repeated.

What I’m talking about is Representative Jeff Flake’s idea to “Staple Green Cards to PhD diplomas” so as to make sure we don’t cede any of that freshly minted U.S.-educated talent back to the Third World and worse (in the case of the Red Chinese).   Even President 0’Bama has gotten behind the idea, despite his telling Steve Jobs that he couldn’t sever the Gordian Knot of immigration reform gumming up the Congress.

And why not, I ask you?  Post-secondary education is one of Americas remaining differentiating advantages, and smart children from the world around come here to take advantage of it.  Why shouldn’t we make it easier for those bright individuals to enhance our quality of life here, not to mention add to the employment ranks by creating new businesses and hiring even more people?  Did you know that half of Silicon Valley start-ups over the last two decades have been started by foreign born individuals?

Howabout this — we wouldn’t even have Steve Jobs were his Dad not here on a student visa.  Serendipitous, no?

Maybe we should take the cue?

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Well that dollar bounced severely today, and so did my Skiffles, which are my one remaining hedge.  They weren’t enough to make up for the blood on the ground from my newly minted mining additions, but I’m not even yet half invested, so I’ve got a lot of room and a lot of dry powder…

And a lot of patience.

I will be adding to my Skiffles tomorrow, however, if the dollar continues it’s climb.  Gold is holding up strong here, and so is silver, which bodes well for the miners.  If this were a real commodity sell off, silver would’ve been bludgeoned far worse today.   BAA is a quarter shorter than yesterday and I might add to my holdings there in the morning, as I really liked the way it looked like it was being accumulated at the end of the day.

If you want to play with more generic pieces, keep GDX (large cap gold), GDXJ (junior gold) and SIL (silver miners) in mind to play the ETF field.  For the more adventurous, like m’self, I also like NUGT on a pullback here as well as AGQRGLD, last of all, is showing nice relative strength.

See you tomorrow, I hope.

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