Attend to the Theme!

 

Have you been paying attention… or…?

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Let me just remind you of this post from July 8th — about three weeks ago.   In it I predicted the imminent death of the dollar, following a slight rebound.  Remember this shot?

I was scoffed at. 

Jeered.

The object of tossed day old lettuces.

The Euro was dead, right?  Deflation is our doom, isn’t it?   The dollar’s got nothing, nothing to do with this wacked out market.  

Right?

Well, it turns out I was wrong after all…

We never even got back to that $85.00 rebound target…  I think it was like $84.50, tops.  

As for everything else?  Well….

Never question my strong pimp hand, and never think there’s anything going on that can be described as “good” in this market that’s not directly ascribable to overt manipulation.  Absolutely zippo.   That also means it won’t last very long.  Best make hay whilst the sun shines, etcetera, etcetera, Peter Cetera.

GFI should be next to unfold tomorrow, my lovelies.  

Carry on.

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Talk amongs yaselves…

I just got back from the middle of the country and I’m exhausted. I had some ribeye tonight in sale-abration, as well. If you live in the land of the Colts, you know the joint, and if you are a Demi Moore fan, you might know it anyway.

ANV powered up today, as I suspected it might. IAG took the day off, and EGO was only up a smidge, so if I was hunting Gold-ee-lox for my bagels, that’s where I’d go first, along with turnbuckle Betty — RGLD.

As for silver, stick w. SLW and PAAS for now, with a side aperitif of cold EXK.

As a bonus, those of you who stayed with me in ENTR were rewarded today, to the tune of an almost 17% move.   Bravo!

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Right now (12:20 am, July 29th), the dollar is below it’s support line of $82.00 at $81.993.   If this break holds, the next stop is $80, and MOOOOOOORRRE!

I am not going to screw around with any charts, as I am tired even unto my bones.   But don’t let this minor negligence keep you from the Christmas presents that you can gather and mail yourselves early, here in late July.

You know the recommendations.  If you don’t you can surely ask.   I’ve added to my hordes of SLW, ANV, EGO and IAG in the last two days, and tomorrow, I may even add some AGQ and EXK and PAAS because I think the silver exposure here could be even more bountiful than that of the gold.

Lastly, RGLD is right on on it’s 24-month EMA, and that’s held as support since the end of 2008.  That’s right, you read that right.   I have metric tonnes of this stock (like I do SLW), but I may even get some more myself tomorrow, as it’s some 15%  from its recent highs, and I think it, too, is done pulling back.

Caveat: there may be some more “down” to go, but I would be reluctant to bank on it.   These are rare times, and rare times often mean opportunity.

Best to you all.

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What a lucky bunch you are.

No, seriously, you are in for some fun tomorrow, especially if you are a PM “noob,” because we may get a gold and silver sale tomorrow that would put even a semi-retarded Wal-Mart jewelry clerk to shame.

It looks like we’re getting one last final swaller before we do our annual Santa run, and this one may turn out to be fun for short and long term trader’s alike.

I’m not going to show you last night’s price of gold chart again (just click one back to see it), but suffice it to say we are “right on” the 34-week EMA, just as I’d expected.   Seems we made the entire move in one day.   And on relatively light volume.   What does that tell you?  Keep in mind we’ve got COMEX options expiring today as well. 

I announced in The PPT and later on my blog that I had taken the opportunity to grab some more IAG and SLW, as both of those looked ripe for a bounce, even more so than my planned purchase of ANV.  Looking again at the longer term charts, I see that SLW could drop another dollar lower than my $18.09 purchase price, and if it does, you should take advantage.

I think ANV will finally be ripe for plucking tomorrow, maybe as early as the open.   The daily picture tells the tale here:

Looks scary, but in fact, the 200-day EMAhas been a beautiful place to pick up discounted goods in this secular precious metal bull, and you are lucky to see it once again, despite the seemingly perilous status of the situation.   Look again at that three month move from February to May, and keep in mind we are coming to Santa-season sooner than you think. 

Ho ho ho!

My other “favorite” that is looking awfully tempting for tomorrow is my massive EGO.   This time, the weekly has the better view:

 If you can catch this one anywhere near $14.90 (the 34-week EMA) then you are golden, pony boy.

I like SLW and PAAS as your silvers on any kind of gold bounce, but so does Barron’s, so for safety, I’d look at EXK here too. 

Best to you all, and happy hunting tomorrow, you lucky dawgs.

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Addendum:  For  you political types… this is one of the best articles I’ve read all year on the historical and political analysis of our currently “evolved” system of government.   I think Purdy and probably M. Le Docteur would both love it…  Angelo M. Codevilla’s The American Ruling Class, and the Perils of Revolution.   Excellent stuff, really.

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Some of you get a tad nervous and that’s understandable. You haven’t been sailin’ the seas lo these last ten years with a chest of silver and a chest of gold amid-decks, watching the waves break over your port bow and the rigging whip up under many a Jamaica squall.

‘Tis a pity, as it’s rendered many of ye as feckless and gray-faced as a feral stoat during the slaughtering season when it comes to any down-draft in ye positions. 

If there’s one thing I could keep in your mind it’s that the PM”s are a volatile lot.   Like a powderkeg in a burning fireworks factory, ye shall be shaken about before ye’re borne to heaven.

But your time is not yet, and neither is it the hour for hand wringing.   There may very well be one last shake of the lamb’s tail before we ascend over again into the high surf and the sun scuppered seas.   I say “may” because with silver’s recent strength leading the prow, it’s just as likely we take off like a shot tomorrow, mimicking the dolphins of tech like CREE and VECO, the latter of which blew out it’s numbers tonight and should offer boundless booty to ye faithful who stuck with her.   As well, POWR should benefit from that triumph.

As usual, I think it’s the weekly charts that give the best perspective, and the weekly of $GOLD should be no exception.  Look here on the direction I think we should take in the coming month.  That short dip may very well be our last gasp at these levels, and if so, I’ve amasse some dry powder to partake in more ANV and SLW in the coming week.

My best to you all, as ye make yer way through the shoals of Uncertainty.

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Aiiiiiirrrrgggghhhh!!!  Freaking Barron’s just came out with a pow-pow-positive article on silver and on my two most recommended silver stocks.  It’s almost like those fuggers came and read my blog, all stoat-like and lubricious, and poached my babies SLW and PAAS  like King Alfred’s prized harts in Appledore Forest.

I hate them.

I hate them because they are widely known throughout all of Lower Mercia and East Anglia as “the Freaking Kiss of Death,” or “The Bloodsucking Whore-son’s Curse of the Market” and other less than salutory monikers for their ability to cream one’s favourite positions like whipped curds in Sam Breakstone’s oaken tub.  

What we can expect is a “dope-rush” likely on Monday and probably into Tuesday on both names, followed by a vicious spiking in the manner of Kerry Walsh and Misty May  playing a quick game of death-ball vs. my aging Uncle Leo, the retired Ft. Lauderdale orthodontist.

I will likely prepare my loins with a sale of some calls, as I have prodigious positions in both companies, and I know better than to spar with the wearwolves of Northumbria, otherwise known as the HFT’s who eat Barron’s lambs for Wednesday breakfast. 

I expect the storm will be over my Friday next, at the latest, but until then, make sure your loins are girded and your hatches battened.

Pax.

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