(Ain’t talkin’ ’bout love!)

Ultra Silver Pro Shares [[AGQ]]

Allied Nevada Gold Corp. [[ANV]]

Yamana Gold Inc. (USA) [[AUY]]

Banro Corp. [[BAA]]

 

(My Love is rotten to the core…)

Citigroup Inc. [[C]]

 

(Ain’t talkin’ ’bout love……)

Coeur d’ Alene Mining Co. [[CDE]]

Powershares Double Silver ETN  [[DBS]]

Powershares Double Gold Long ETN [[DGP]]

Eldorado Gold Corporation (USA) [[EGO]]

Corriente Resources Inc.  [[ETQ]]

Endeavour Silver Co. [[EXK]]

Market Vectors Gold Miners ETF [[GDX]]

 

(Just like ah told you be-foah, be-foah, be-foah!)

Gold Fields Limited (ADR) [[GFI]]

SPDR Gold Shares [[GLD]]

Golden Star Resources Ltd. (USA) [[GSS]]

Hecla Mining Company [[HL]]

IAMGOLD Corporation (USA) [[IAG]]

NovaGold Resources Inc. (USA) [[NG]]

New Gold Inc. (USA) [[NGD]]

 

(Hey! Hey! Hey!)

Northgate Minerals Corporation (USA) [[NXG]]

Pan American Silver Corp. [[PAAS]]

Rubicon Minerals Corp. (USA) [[RBY]]

Royal Gold, Inc. [[RGLD]]

Seabridge Gold, Inc. (USA) [[SA]]

 

(Hey! Hey! Hey!)

iShares Silver Trust  [[SLV]]

Silver Wheaton Corp. (USA) [[SLW]]

Silver Standard Resources Inc. (USA) [[SSRI]]

Thompson Creek Metals Company, Inc. [[TC]]

Teck Cominco Limited (USA) [[TCK]]

 

(Ain’t talkin’ ’bout love……)

(Ain’t talkin’ ’bout love……)

(Ain’t talkin’ ’bout love!!!)

(fade out)

___________________

[youtube:http://www.youtube.com/watch?v=iOkZ2zhCx5I 450 300]

Aside — if you weren’t such a piker, you’d join The PPT and catch me pounding out these winners like freshly minted doubloons on a daily basis…. tsk! tsk!

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Dang, I should be out of the office more often. Looks like the “Dollah Dollah Bill Y’awl” prediction  I made yesterday is staying true and we are continuing to see a break down in the much beknighted green back– [[UUP]] .

The dollar’s breakdown is causing a “so sorry” event for bears, but a “yippe kai yi yeah, muthaflickah” event for those of us in the precious metal camp. What’s ironic is that the bears are correct — the only thing keeping this market going right now is the craptastic dollar. In other words, it’s not “real” value but “inflated value” that’s driving stocks upward. What is doubly ironic is that bears will short this market thinking that the dollar will strengthen.

Very odd.

We’re here to make money so let me throw out some picks that are looking good. First — the junior golds, which on the Jackson side include only Eldorado Gold Corporation (USA) [[EGO]] , which is my strongest Jackson today. Non Jacksonian juniors I like, and will mention again are Allied Nevada Gold Corp. [[ANV]] (which is breaking out as I type this), Golden Star Resources Ltd. (USA) [[GSS]] , [[BAA]] , NovaGold Resources Inc. (USA) [[NG]] and Northgate Minerals Corporation (USA) [[NXG]] on the gold side and Silver Wheaton Corp. (USA) [[CDE]] and [[EXK]] on the silver side. I also like the double silver ETF [[AGQ]] here as well.    Finally, the Jackson silvers are looking strong here as well — Silver Standard Resources Inc. (USA) [[SSRI]] , [[PAAS]] and [[SLW]].

Non-PM Jacksons Teck Cominco Limited (USA) [[TCK]] and Thompson Creek Metals Company, Inc. [[TC]] continue to look great while agro man The Andersons, Inc. [[ANDE]] takes a breather.   Still a buy as well, though.

From a non-Jackson picks side, [[BIOS]] is getting knocked back today, but it’s still on trend by a long piece, so look to add. Also , the rockets I gave you the other day — Trimble Navigation Limited [[TRMB]] and Given Imaging Ltd. [[GIVN]] , are flagging here and if they begin to take off from the bottom of these flags (instead of breaking down), they too could be a nice purchase here. Use caution and mind your sizing with these big movers. Best to you all, and look to the PM’s if the dollar continues to deteriorate.

UPDATE:  I almost forgot to throw something in on Rage’s regional banks  play.  Of those I like Fifth Third Bancorp [[FITB]] and KeyCorp [[KEY]] .  Somewhat  related — I also like the Irish shilelegh-wielding banks too — Bank of Ireland (ADR) [[IRE]] and Allied Irish Banks, plc. (ADR) [[AIB]] .

_____________

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There’s no discounting the genius of Andrew Lloyd Webber, no matter how much you may disdain the theatre (sic) and the Broadway musical genre in particular.   Let’s face it, the guy’s first real hit was a modernistic pop re-working of  a story from Genesis for goodness sake, and no, spratlings, I don’t mean a Phil Collins biopic.  You have to admit — that’s not exactly got “sure fire hit” written on it when you see it on cold, flat paper.   But that strange beginning launched the man’s career, and now he’s widely considered the best living writer for the musical stage, with hits like Jesus Christ Superstar, Evita, Phantom of the Opera, Sunset Boulevard and yes, even Cats under his belt.

The reason  I bring this all up, oddly enough, is that I was dragged to a community theatre (sic) production of Webber’s Joseph and The Amazing Technicolor Dreamcoat this weekend where my niece was starring as a children’s chorus extra.  And oddly enough, it was fantastic.  I was thoroughly entertained. I guess that’s how I guage the worth of the intellectual property — if it’s still damn good after the semi-pros get though with it, then it must be some heady stuff. 

And I am no big fan of the Broadway stuff, either.  I lived in New York for years, but I had to be dragged to every “real” show, just like I had to be dragged to this one.   Go figure that I’d never been to a Lloyd Webber show even in the Apple.  Next time, I won’t be so reluctant.

_______________________

Another thing I haven’t been reluctant about is buying silver like the last man standing on two legs at a lycanthrope convention.    This 5-year weekly chart shows why:

As you can see, we’re within a hair’s breadth of the 200 week EMA, which as served as solid support through most of this bull in precious metals (save for the brief period of unpleasantness last Fall).

What’s more, we are very oversold on the slow stochastic, to a point we have not seen since the last time the PM bull was tested, back in 2006. Even more oversold than we showed in the depths of the Fall sell-off in almost every major asset!

I believe this is significant (even as MACD and RSI are not nearly as oversold), if at least for a bounce, and have put my money where my mouth is and bot some more [[AGQ]] as of Friday. I have room for 1,000 more shares, should silver decide to test that high $11 range again. This week’s increase in the Blees Rating (out of 100) to 72 from the previous week’s 66 tells me that commodity traders are taking off their short hedges once again, and readying for strength in the PM’s.

As I mentioned, I think that gold may also visit the $880-$890 range again, and I will be adding to select junior positions if we should be so lucky. Those of you who have not done so may want to take any opportunity to accumulate some physical (again, I like those Maple Leafs) under $900. I may do so myself.

Also, amazingly enough, [SLW] filled a gap that was formed back in March (20th-21st) when it was blasting off out of a consolidation pattern. All of it’s oversold indicators seem to be turning back up, save MACD.

Last, have look at Monsanto Company [[MON]] which is also ridiculously oversold on the weekly slow stochs, and is just a little bit beneath is’t 200 week EMA — the place where it’s been bouncing for the past year, including last Fall and this March. I think this might be a good place to accumulate with a tight-ish stop below the March lows ($69-ish).

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  [youtube:http://www.youtube.com/watch?v=82Wc92bFiZk 450 300] 

My apologies for being so scarce this week.  You heard about the Dylan concert and all that, but perhaps you didn’t know I had relations in all week.  There were relations activities to attend to, the Dylan concert being one of the more pleasant.   Others not as much, but obligatory.  So it goes.

In any case, I sit before you with a down port in a flaccid market.   And yet, I’m serene.  Why is that?  Well, to be honest, its because I”ve been riding this same wave since 2001 and frankly, it’s a familiar poise.   Since that time, it’s never hurt me to buy on pullbacks, no matter how egregious.   With that in mind, I copped another 1k of [[AGQ]] today at $34.95, with the mind that I will get even more if it drops again.  I think silver is just peachy.

Call me psycho.   I can take it.    I own silver at $4.50/oz. and gold at under $300/oz.   Does that give me extra confidence? 

You bet your ass it does.   

 More on the Jackson update as the weekend commences.

_______________________

 UPDATE:  It’s a horror show, but on the bright side, I built more cash up.

Name/			%	Portfolio	Portfolio
Ticker	9-Jul	10-Jul	Change	Value	Impact		Comments
ANDE	$        28.89	$           27.86	-3.57%	$         8,411.84	-0.18%		Sold 1/2 on break of $28.90 (8,725.60)
EGO	8.10	8.27	2.10%	7,748.99	0.10%		Bounced close to 200 day ($7.85)
GDX	35.31	35.14	-0.48%	10,635.59	-0.03%		200 day MA is $32 ish
GLD	89.51	89.58	0.08%	10,302.47	0.00%		200 day = $88.26
IAG	9.22	9.10	-1.30%	11,220.72	-0.09%		Back at the top of the consolidation zone
MON	72.56	71.34	-1.68%	4,184.16	-0.04%		Needs to hold above $70- but oversold
NRP	20.40	20.63	1.13%	4,281.86	0.03%		Needs to hold above $20
PAAS	17.16	17.29	0.76%	10,384.38	0.05%		Some firming past two days.
RGLD	38.50	38.98	1.25%	10,770.93	0.08%		Tapped $38 twice this week, closed up.
SLV	12.67	12.50	-1.34%	10,154.35	-0.08%		I bot 1k more AGQ at 34.95 on Friday
SLW	7.44	7.46	0.27%	7,246.17	0.01%		Approaching oversold on the weekly
SSRI	17.46	16.94	-2.98%	9,854.57	-0.18%		Could go to $15, even, watching.
TBT	49.45	48.41	-2.10%	9,643.43	-0.12%		Next major support @ $46, if no hold here
TC	10.01	9.79	-2.20%	4,592.58	-0.06%		Could target 50 day ($9.11)
TCK	15.84	15.46	-2.40%	10,279.25	-0.15%		200 day @ 14.78
TZA	26.67	26.28	-1.46%	5,294.13	-0.05%		May add to this next week, with cash
Cash (000)	$       26.42	$         26.42	0.01%	26,420.79	0.00%		Increased $8,725.60 on half sale of ANDE
AVG (daily)			-0.82%	$  161,426.21	-0.70%
AVG (monthly)			-4.34%	Actual
AVG (inception)			7.10%	Return	7.62%

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Silver’s been acting sickly for enough time to start irritating the most patient among us. I can only repeat that after last month’s huge moves, we were do as big a consolidation. Note — not a full retrace, but some pullback here, while the bull tries to shake the riders.

The good news is, gold’s hanging on here, even despite the attempts to knock it flat. It’s down today to $929 on the spot market, from $939.80 — a little bit more than 1.1% for the day. Silver, on the other hand, continues to take the brunt of it, with a 33 cent loss down to $13.60 — or almost 2.4% down for the day. That discrepency cannot hold, as silver is already undervalued compared to gold.

From a technical viewpoint, both the price of silver (POS) and the ETF [[SLV]] are showing similar signs of running into significant support.  I use the ETF here in this example because it’s a little cleaner:

From the chart, you can see SLV’s long term 38.2% fibonacci retrace line lies at $13.14. Moreover, it’s 200 day Exponential Moving Average (EMA) closed at $13.19.

I think there’s a good chance we dip to these levels and begin climbing back before the end of the week. The 38.2% fib line is usually very strong (like it’s inverse — the golden ratio of 61.8%), and it should hold for a solid bounce here. When I see this level, I will be taking advantage of the bounce by taking down a position in the double silver ETF [[AGQ]] , and riding it for at least a swing trade. I may also pick up some more [[EXK]] and any other miners I feel look “opportunistic” at the time.

Best to you.

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No pics today and probably for the rest of the week, until Vincenzo hoses the rest of the marinara gravy from the insides of the server box.  Today it’s just going to be a blank day, as that’s as good as any for a day when my language was pretty regularly depicted — old timey-style — by whirling spirals, jumpy stars, cock-eyed exclamation points and the 1950’s film noir tough guy utterance–  “blankity blankin’ blankity blank!!”

Only I wasn’t talkin’ about no dames, see?

No I was talking about the hard money portfolio that is your dear General Jackson’s.   We got shelled like Francis Scott Key’s famous banner at Fort McHenry.   Part of the reason was the undeniable strength in the dollar.   [[UUP]] , our proxy, was still spiking toward the end of the day.  The other part was the rush to the exits by all the Late-Comer Charlies that climbed aboard the magical precious metal bus last month only to depart in a frightened huff early in this one.

They must have forgotten that we’rein  a bull market right now, and it’s in the “money” that does not easily squander. 

They must have forgotten also that bulls, in the opposite manner of sleepy bears and their Siren’s rallies, try their damndest to take as few folk as possible with them on their ride to massive gains.   These last two days’ bronco riding are ample evidence of that.   So are we going to get pistol whipped off this bull like a bunch of mewling woosies,  merely because we’ve been bootstomped something sore?

No, we are not.   In fact, as I reported, I took this opportunity to grab some more double silver — [[AGQ]] today when it bounced off it’s long term 38.2% fib and it’s short term 61.8% fib in the $43.70 area.    I am prepared to add one more time should we see additional weakness tomorrow.    I am liquidating more frivolous holdings in order to ready myself.

In the meantime, you lucky ducks who were late to last months party are beginning to see some juicy bargains.   Nibble stealthily here, like a Persian guinea pig inside the mink lined trunk of a ’36 Bugatti, at each of the Jacksonians.   None is more attractive right now than SSRI, which, were I paying closer attention, I would have grabbed more of today, despite my already full plate in the name. 

As you know I’m particularly fond of silver and think it egregiously undervalued here, with gold once again at almost 66 times the price of silver.   So I will buy SLW, SSRI and PAAS first,  but note my maunderings below in the notes section of the JCHP Report — almost everything is now on sale.   I say that because we pulled back even further than I thought on the weekly and exactly to the trend line on the daily today (part of my reasoning for buying AGQ). 

Look at that strike of the trendline.   And also note the oversold condition of the stochs.    I’ll be looking to reap and gather tomorrow in the fields of Jackson. 

And here’s today’s bloody Jacksonian Core Holdings Portfolio results:

Name	12-Jun	15-Jun	% Change		Comments
ANDE	$    29.79	$    28.83	-3.22%		High top doji, second day of rest.
EGO	8.79	8.28	-5.80%		Could see $8 again, but good support @ $8.15
GDX	39.54	37.97	-3.97%		Strong support at 37.50, ideal entry.
GLD	92.17	91.10	-1.16%		POG only down a little more than $7 –
IAG	9.85	9.25	-6.09%		Egregiously oversold, closed on the ST trendline
MON	86.54	84.97	-1.81%		Low volume down day, still on ST trend
NRP	23.85	22.99	-3.61%		Still on uptrend, 38.2% fib @ 22.05
PAAS	22.04	20.95	-4.95%		$19.80 is the 38.2% retrace.  Support @ 20.70
RGLD	42.64	41.81	-1.95%		Low volume down day, stopped on 13 wk EMA
SLV	14.63	13.83	-5.47%		PO Silver on 50 day EMA right now ($14.14)
SLW	10.05	9.25	-7.96%		LT 38.2% retrace is $9.00 — prime entry
SSRI	21.95	19.92	-9.25%		Up to $20.27 in AH.  That’s the trend line.
TBT	56.59	55.49	-1.94%		The least of my concerns.
TC	11.76	11.05	-6.04%		$10.81 is 38% retrace.  Tapped today.
TSO	14.98	14.98	0.00%		Have you thought of his replacement yet?
AVG (daily)			-4.21%
AVG (monthly)			-6.76%
AVG (inception)			17.02%

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