iBankCoin
Joined Apr 19, 2009
721 Blog Posts

Dive! Dive! Dive!

pink sub 

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No, not the markets, although that’s going to happen sometime.  Nope, this is just me banging the kettle drum about the dollar going “pink submarine” again.  Had these charts ready last night, but the great god Westin decided to eliminate my wireless signal in random fashion (curse you, Westin!) in the middle of the night and I was too tired to call down and bitch them out.  

In any case, the chart below is pretty much where we are right now, save that the dollar is even lower ($75.90 @ 9:51 am EST) than it is on this chart:

We are fully through that blue line above, now.   Keep an eye out today, but I’d be surprised if we claw back above it today, and I don’t think the jobs number tomorrow will not give Bernanke any reason to tighten.   I have many favorites, but if you’re interesting in catch up, why not grab some volatility in an appreciating asset class.  Three guesses?

We are through that triangle top right now ($9.95) as I type.   Best to you all.

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The Rain Will Continue…

Supercell 

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Please, do not believe the propaganda.  Yesterday’s Wall Street Journal report regarding the possible rise in rates due to “the end of QE2” is just so much hog swallop over the septic tankard. 

How do I know this?  Because I took a gaggle at this morning’s Case-Shiller Housing Price Index, which — unsurprisingly — continues to suck giant rare Tibetan albino gorilla-monkey balls.   Why unsurprisingly?  Because the Fed has been using your fake money to sterilize bad mortgage debt securities for the last two years now, which has basically hidden the problem of overinflated real estate.  That in turn has prevented the market from deflating in the more precipitous fashion it would take in a more natural setting.

Therefore, we are experiencing the slow hiss of the deflating tire while Bernanke and Co. continue to paste their hastily chewed Wrigley’s Spearmint gum over the hole in the form of reams and reams of newly issue Benjamins.  Patch-by-Benjamin, however, is a crude form of assisting the real estate market, however, and it will almost definitely end in over-inflation of the other asset markets — including most commodities. 

We’ve already been seeing that in cotton, oil, coal and certain industrial metals and agricultural food items, but this bubble will not give our Fed and Treasury masters pause.   They are in thrall to the banks, you see, and when the third or fourth largest banking market in the country is experiencing an eleven year loss in housing equity value, that means the banks are still on the table, with their chests cracked…

And the paddles are out.

Silver and gold are already recovering today.   Be not afraid of “the Shakers.” 

Let them be afraid. 

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You all be well.  I will be on my way south again today and this evening, so I will try to check in via Crackberry.  You know the drill.

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Drink from the Golden Cup!

  chalice

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You probably think I’m being metaphorical and yet you’d only be partly right.  Actually, I am drinking from the NCAA Golden Cup this very evening.  You see, for the first time since I’ve been participating in the Big College Hoops Tournament pools, I’ve won my whole pool prior to the first Final Four game being played.  Ridiculous, but true.

How, you ask? Well, it’s largely a consequence of this utterly fuktarded (excuse my bastardized French) 2011 Tournament, where not only did none of the #1 Seeds not make it to the Final Four, but none of the #2 Seeds did either! Sacre Bleu, if I weren’t crazy enough of a homer to recognize the latent maturation of the Kentucky Wildcats’ mostly-freshman team, I’d have had picked zero Final Four teams.  As it is, I picked one, and that proved enough for me to win a large amount of money.

Sometimes life is not fair for the other guy, and I recognize that with humility. I will therefore buy the drinks for whomever is going to pitch a “Go Cats!” party this weekend, using my dirty winnings as salutory payment.

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On to the Golden Cup itself… Zombie asked for a “gold and silver update,” and while I scoff at such short term imprecations, I will humor him in appreciation of his long time one-liner hilarities on our collective blogs here.   My analysis will be based on the chart of the stodgy gold ETF, GLD, which I’ve owned for years but speak little about.  It’s part of my “core,” and therefore almost forgotten in any analysis of my day to day trading interests, as I’ve not interest in selling any for some time now.

That said, GLD’s chart can provide some insight onto the future movements in the precious metal environs, and particularly, the miners.   Note, that despite the great success of the miners recently, GLD has had some trouble breaking free of the $139-140 levels as illustrated below?

Note that since November, the price of GLD has flirted with that Maginot Line of $139, and only recently– in early March–  has it breached the promised land of $140 and higher?   We know our friend Mr. CANSLIM, William O’Neil, will quickly tell you that a higher right side of the “cup” in a “cup and handle” formation, is exactly what we should be looking for to best take advantage of an accelerating price situation.

Well, it seems that’s what we are looking at above, and what’s more, it seems the “handle” Mr. O’Neil is so fond of has also appeared over this last month.   Right now, the dollar is struggling to maintain it’s seemingly false Friday gains, and gold and silver seem to be shrugging off any attempts to sell them down.

That tells me, along with the chart above, that we haven’t long before we get a firm break of the $140 level.  I believe that will “bring down the house” so to speak, in terms of actively traded gold stocks.   While I continue to like silver, I think this week will belong to the gold flavor, like the rapper with the gold teeth and the big clock.

Oh right, that’s all of them. 

Carry on, won’t you?  I like NGD, AAU, IAG, IVN and of course ANV, here.

My best to you all.

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Open Sesame!

 Open Sesame!

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Again, I hate to keep apologizing, but I’ve had a devil of a time with my “new” lap-top computer recently, and I couldn’t even get a proper “boot” last night.  This is extremley distressing as the damn thing is only about a month out of Best Buy.  I am running the diagnostic tests on it now, and am hoping that it’s just a Microshaft glitch and not something more serious.

Anyway, I’d promised yesterday to take a look at Fly’s OPEN, which I was persusing via chart-service last night.  

First, a caveat: I know nothing about this business, save for having used it a number of times, and thinking it’s a nice niche for “first mover” exploitation.  I rely on Fly to do all that Graham-Dodd like analysis on these things.    That said, the chart is very promising — especially if we get a pullback from this recent parabolic spike.

Note that I’ve identified three zones of purchase, the first of which is “most likely” and the second and third descending in likelihood while ascending in desireability.  

The first zone is actually a target line as opposed to a “zone,” and it’s merely set at the retrace of the original breakout point on March 22nd at $96.00.

The next two zones are based on the two past largest “price-volume” bars, which tend to connote resistance and support areas for the charted stocks.  Obviously, that second PV bar down is the stronger of the two, and in my mind, the “all in-zone.”

My strategy here is to go in one third at level one ($96.00), one third at level two ($90-93.00),  and then the last third on a break back above level one again. 

If we break down to that second “all-in zone” of support (unlikely, I think),  I will not only put the last third on then, but will likely add some leverage to the position.   As a matter of risk management, I would then take the leverage off after a break of that key $100 zone again.

Best to you all.

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Not Bi-Polar, Bi-“Winning!”

[youtube:http://www.youtube.com/watch?v=9QS0q3mGPGg 450 300]

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Even without 7-gram rocks, we’re still winning.   Meager pullbacks in silver names like EXK and PAAS represent new chances to “win,” and nothing less, as stalwarts SLW and SSRI were up along with most goldies.

Meanwhile tonight we’ve witness the rarest, yet greatest chart formation known to homo traderus man setting up… the infamous “Winking Friar Super Bullish Formation.”  Note the rounded head and fine Romish chapeau? 

Now, note the wink and the winsome smile on this knowing cherubic Papist?  All this good cleric says is “Wining with NGD!” 

Now just go.

Go, and sin no more!

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Say it Ain’t SO, Fitty!

 Fitty

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My world– it is broken.  I cannot tell up from down, black from white, cockatiel from northern tufted sparrow.

Fitty took Quaddafi Blood Money!

Fitty took Khadaffy Blood Money!

Ah haaaaah…  Fitteeeee  took the fuggin’ Choiduffy Blood Money!

(and so did Beyonce too!)

Where, where oh Lord, has the world gone off kilter when childhood heroes like this turn to ashes in our eyes?  Who now can we look to to fill the Muppets Tree Float on the Thanksgiving Day Parade route?  Who will take the opposite of Lil Wayne’s “Douglas” in the best stovepiped 16th Presidential fashion in the Annual Rapper’s Lincoln-Douglas Debates Re-enactments?

Who??

Warren Gee, where have you gone, man?

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Listen, that shit is all funny and everything but I was up over 3.5% in my stock portfolio and 27% in my option portfolio today, so I can afford to make light fun of a bunch of zillionaire celebrities taking more millions off a bloodthirsty murdering thug dictator who was personally responsible for the deaths of 190 of our fellow citizens, not to mention a schoolboy friend of mine, over the skies of Lockerbie, Scotland.

But let’s not play, that shit is pretty fucked up.   I’m sure there were quite a few celebrities who did the song and dance thing for old Adolph when he was in his prime, but I’m going to doubt it was after he started marching Tribesman off into the woods for target practice.

Curtis, what the fuck were you thinking?

Continue to purchase SLW, EXK, ANV, RGLD, EGO, etc.  We are on the thin end, yet.  Pax.

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