Resistance is Futile…

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Today was an interesting day, as I sat and ate samiches whilst ordering my sons around as they attempted to clear my ice-bound driveway, and  thereby freeing me to do my “early” Christmas shopping.  

A roommate of mine with four sons came up with an adage one day with which I have come to heartily concur.  It states,  “Four boys equals one man.”  He now lives in Rochester and had addressed the adage specifically to snow shoveling.  Very appropos, therefore, for me today.  

Since only two of my sons are old enough to tackle hard work tasks like ice clearing, in effect I had one half a man working out there today.  The fact that I had to take over, thereby endangering my back, but also assuring that I’d get to the malls before midnight tonight, is a testament to my friend’s adage.  Truly, young teenage males are good for almost nothing save extraordinary food consumption at unprecedented rates. 

Please let me know if you need a guest for your seven course holiday meals.

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With regaurd (sic) to the stocks (sic) market, I have heaped praises on Le Magistrate’s choice of CMI for over a year now.   It has been a paragon of automotive (and trucking) ascendency in this lamely recovering economy, and even today it shows little signs of pausing.  Nevertheless, we must be on our guard to pick up anything we can on a retrace, hence the following chart:

Another auto sector darling that has made even more auspicious returns in the same period that CMI has is the head of the Collective, the Borg Warner (BWA).   Note how they have assimilated capital returns in an ever efficient, if soulless Locutus-like way over the same period as CMI….

I like this action almost as much as I like UPS looking to broach new all time highs.  But we must be patient, and let the trade “come in” a bit, as le Magistrate would say.  You can note my target levels, if you so choose.

Also, I think the PM’s have made an valiant effort to maintain here, which usually means there are buyers dying to get in.   With that in mind, I bit the bullet and went to a 60% position on EXK, with a 5 k purchase today in the low $6.90’s.

The dollar is down as I type this, so perhaps my faithfulness shall be rewarded.  Until tomorrow then, stay assimilated, Borg Collective plebs.

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It wasn’t just Rick Pitino’s formerly unblemished Cardinal Birds team that went down today to the scrappy Drexel Dragons of Philly, it was a plethora of formerly high flyers. One great example is the LED players CREE and VECO, which got swung from their armpits into a molten lake of lava today.

Like my Cards, these high fliers were tired, and yes, a little bit cocky with their recent gains. Only the grace of God saved me from getting left standing by the record players on these two. I was trimming recent runners, and had only a bit left of these two, so I decided to take profits on the rest over the last week, the last of which I sold yesterday, as reported in The PPT.

I think what happened to CREE….

And to it’s close sister VECO….

… all goes to show that the momo is starting to come out of the markets.   I again implore you to continue trimming back risk assets such as these “tip of the iceberg” plays.

Best to you.

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You are skyying about in your chromium zeppelin, dropping empty champagne bottles from 1,500 meters onto the heads of unsuspecting proles below.  You glance across the quarterdeck and there is your love, half a glass of Dom in her silk gloved hand and the light of Christmas in her eyes.  The finest plum-rose gloss  adorns her full, beestung lips, which are parted ever so slightly in a laughter that  sets her page boy curls dancing in the silver streaked moonlight.

You haven’t a care in the world.   You’ve made millions off the sins of The Bernank, Slayer of the Little Man.  What’s more, the largest part of your fortune is stored in bullion bricks of various heavy metal denominations, lodged safely in your Rocky Mountain fastness.

But some latent foreboding nags– ever so gently — even as you pop the next cork on the desert-dry bubbly, sending that mushroom cap deep out into the lowering cumulus…  You know now that the small plebs, the racers, the gimcracks, the punters who have swelled your gains are finally beginning to pay tribute to your cosseted hordes.  No longer are they satisfied with the quick buck of the latest Sanford Bernstein-driven consumer good craze, or the lures of the Autumn Needham Tech Conference.

No, they now make claim on the Precious, and it’s time to grip the gunwales and be ever so wary.  Behold the gathering storm which will afford us opportunity, if played ever so skillfully, like a minuet for harpsichord, parsed out on a tight-rope.   First, a lesser known blazer, FRG, serves to illustrates our existential dilemma:

This overbought condition is endemic in our chosen sector, fellow aviators.   Note another favourite which perhaps has become too much so in recent weeks:

  EXK will continue to provide gains, I’m convinced of it.  It may even get to $8.00 before 2010 has breathed its last.   I also believe it will retrench rather severely, however, andf quite possibly as far as my target of $6.00.   

 As a result I have taken almost half of my holdings off the table at prices between $6.90 and today’s close ($7.30).  If you have been with me from the low $3 range,  your over 100% gains should be suitable for framing right now.  The choice, however is yours.

I shall see you all across the scudding skies.

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In certain Northern Mid-Western climes, the citizens have become so mushily liberal that — in their overwhelming compassion –they have confined their hapless professional football teams to a regulated indoor environment.

As a result, no one in these left-leaning regions need suffer for their gridiron art in the fashion of Lombardi, Hornung, Robestelli, and other Hall of Fame stalwarts of the past.   Come game time, both players and fans can loll about at room temperature, consuming multiple jumbo franks and 64 oz. Mountain Dews without fear of nippy nose or chilly tootsies.   

Real tough guy stuff, no?    You’ll find it no wonder, then, that these teams haven’t won a Superbowl in… well…

Forever.

I bring this up in order to levy well deserved shit to Chief Admin Jeremiah and his wussified, faggot-assed (not that there’s anything wrong with that) Minneapolis Metrodome Vikings.

I mean, if you are going to be pussified about going to see a game in the weather — despite your arguably holding a home field competitive advantage (see “Packers, Green Bay“) —  then by all means build youself a cozy indoor stadium so you can spare yourself the chilblains on your vanilla layers of Midwest portly.   

But do us all a favor, eh, Minnesota?  Please get yourselves some architectural engineers that will factor in the possibility of snow accumulating on the roof, eh?  You know, just in case it gets warm enough to do so every now and then?

Thanks so much.   Your friends,

The N.Y. Giant Fans With Three Superbowl Trophies and, Not Coincidentally, an Open Air Stadium

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It looks as if The Bernank (sic) and his antics will continue on, at least for the beginning of options week here.   Like a good neighbor, I will be reducing my positions again, trimming here, trimming there and braiding the remains for a nice Christmas streudel rope to be given out to wassailers and other visiting Folk o’ the Yule.

I will probably get rid of the last remnants of my IAG calls, which have been less than satisfactory these last few weeks.  I will likely retain the underlying stock, however, and only be trimming my outsize positions (ANV, SLW, EXK, GDX) to raise some cash for the new millenium, where the chief currency will be penny farthings made up of plastic doll’s buttons.

Again, this is not the long term strategy, and I will not be taking down my core, only my oversized accumulations, which have done so well since September especially.  More tomorrow, if I can get out of my driveway.

Best to you all.  And keep an eye on BIOS and ENTR.   These old stalwarts seem to be making a move again, as do non metal Jacksonians ANDE , TCK and TC.

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We’ve come to another time in the cycle where I must again beg your forgiveness for my absences.  This is just not  a great time of year for me to be doing any blogging.  This is a time for closing, and little else.

And as you know, “Cawfee is for closers.”   There’s a logical reason for that.   It’s that it’s a standard remedy for sleep deprivation.

I’ve got a 7:00 meeting tomorrow morning and I am not what you would call a “lark.”   In fact, I’m rather the wisest of owls.   I believe I shall sleep for 24 hours this weekend, if left unmolested (unlikely).

I submit this pre-amble in way of saying  that I’ve done little with the port these last few days.  I’m down to my last shares of AGQ, and I’ve sold some EXK, but that’s been about it.   I think tomorrow I may even sell some SLW, if the creek continues to rise in the PM sector. 

Tomorrow should tell us if the dollar is going to rally or continue down.  I imagine the break down will be severe should it come.   If not, then it’ far more likely the dollar will rally for a while.

Don’t follow me, as I’m sleep walking, but I will be announcing any other moves in The PPT tomorrow, as they happen.

Best of Morpheus’s Dreams to you, my peoples.

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For now, at least.    It looks the dollar has bottomed for now, and as a result, I will likely be dumping the rest of my AGQ tomorrow.  I will also continue to sell down my overweight positions in EXK, SLW and yes, GSS (which I am overweight for stupid reasons).  Some ANV will go, as well as some IAG and EGO too.  Not a tonne, but I will be raising cashe (sic) munny (sic).

I will also likely sell some other things tomorrow which look overbought despite their not being in the precious metal category.  I shall tell the good gentlepeople of The PPT about that before I make those moves known here in Pikerdome.

What won’t I be selling?   That I will let you know… lucky dogges.   I will not be selling any UPS.

I will not be selling any UL.

I will not be selling any MON.

And I will NOT be selling any TBT.    In fact, I may even add to the latter.

Best to you all, and Merry Kwaanza, Fonzies.

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