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Tag Archives: AGQ

Just Shaddap

Giants Pack

The Giants let another one slip between their fingers, to the hated Cheeseheads, no less, despite giving them quite the scare for perhaps the first time this season.   Moral victories, however, count for scheissola in this part of the season.  

That said, at least the Crackboys also lost — inexplicably — to the Arizona Cardinals, who I believe are working with a tenth string QB out of Mail-it-In State.    We play them next week and then again two weeks after that and if we can’t beat those sad sacks, well — it’s time for head coach Tom Coughlin and his trusty offensive coordinator Captain Kangaroo Gilbride, to pack their bags and just GO.

But I don’t want to hear a damn word from any of ye’s (sic) about the Giants’ recent four game collapse.  I especially don’t want to hear about how great the Pack, or that long haired narcissist Clay Matthews are.   What the hell is wrong with this guy anyway?  He’s like a woman with that shit.  Why is it so damn greasy the whole game?  Does he throw a bunch of conditioner in there so it’s nice and greezy (sic), so no one can grab him by it? 

Just get a haircut, Laughing Boy.


Right now the dollar is struggling to re-assert itself despite it’s being leveraged against every shit currency in the free world.  Despite all that, currency traders are wising up and beginning to bid the “savings plays” up again, chief among them the yen.    So, even as the dipshits at  S&P do the Fed’s bidding by trying to scare the German’s pants brown, the dollar still struggles to even achieve today’s earlier highs

Curious, no?

You won’t see me running about, flibberty-gibbet style, sorry.  I just don’t have the time for it.   I’ll stay in the gold and silver plays I limned for you last week, thanks very much.  I still own some GSVC as well, btw, and even some WNR (the calls I wrote against them twice have all expired, too).  

I really hate to say “I’m with Teahouse,” but at least it’s not like I’m sitting on the fans’ side at Foxboro or going door to door for Ketchup Usurper John Kerry, right?

My best to you all.



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Don’t be Prejudiced

[youtube:http://www.youtube.com/watch?v=KVN_0qvuhhw 450 300]

It seems that the Olympian Fowl of Late November have been a bit tardy this year.   Gauging the current mood of the financial blogosphere, however, one would think the Mohawks had rescinded the Thanksgiving truce and were busy rendering bad punk haircuts to the entire Southern District of New York.

Ridiculous.   So you had a bad “Black Friday Shopping Experience?”  You didn’t get that $199 42″ plasma from Best Buy despite leaving 4 grandmothers denture-less thanks to your “flying elbows of  mercantile death?”  That’s a damn shame.   You should bring a hockey stick next time if you want to prove you are a playah.   That’s no reason to go all knee-knocked on the market because of a bad Turkey Week. I urge you not to become Ursine Prejudiced.  It’s the worst kind of poison for the mind.

You see, sometimes the Turkey Gods are leisurely in their ambling down from the stratosphere to bless you with the grapes of coin.  This is why it pays to have patience and to step into an oversold cycle in a graduated fashion.   Last week I saw the PM’s starting to show signs of a rally even as the dollar stayed strong, but I knew that rally would not fully materialize until the dollar was finally ready to retreat.  So I played halfway, and stayed out of the high octane stuff (save for a starter in AGQ) to start.

By my calculations, that dollar retreat should have started Wednesday or even Friday of last week, and therefore, by those lights, the dollar is living on borrowed time.   I think we will see a top perhaps as soon as tomorrow morning as the dollar tries to rally to the September highs.   From a stochastic and RSI standpoint, that rally looks ready to stall.  Note the overbought conditions in the following daily index chart:



















I think we can take advantage of this pullback and I plan to put on some leveraged plays — including NUGT and AGQ — if the dollar begins to break down significantly this week.   I’m not sure I will have those plays on for very long, but I think we can take some short term advantage of the return to the mean this oversold cycle presents.   As usual I would look to the liquid plays — GDX, GDXJ, SIL, SLW and RGLD.   If you insist on playing the micros and the juniors, please play small… and swiftly.

Best to you all, in your tryptophan heavens.


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There’s No Stopping Turkeyus Lurkeyus

silver turkeys


Move to Romania if you must, but you’ll only miss all the fun we’re about to have.    As Fire Marshall Bill would say— “Let me show ya somethin’!”

Check this silver seasonality chart out…. Do you really want to struggle with the turkey gods?  And keep in mind that’s over 37 years of seasonality baked in that pie.

Last please revisit one more timemy AGQ chart:


Yes, that’s one more tap on the trend line and this time a hammer to boot.  I think that gives us the oversold mojo we’ve been looking for, and tomorrow, I think we make that assault on $60 one more time.


Best to you all.

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Bernanke Brings the Cranberry

[youtube:http://www.youtube.com/watch?v=w_g2t0ZfIkA 450 300]


Gobble, Gobble, fellow pilgrims!  Are you concerned about your precious metal stores and stocks this close to Turkey Day?  Even though The PPT has assured us that these are the stuffing days for such metals coursing into year end?

Well, I can’t say that I don’t blame you, given the vexatious day we had yesterday, where everyone and their brother decided that liquidating hard commodities was the answer to Europe’s considerable paper problem. On the other hand, with a relatively high Blees rating (a relative ratio of commerical trader sentiment over the last 18 months) of above 50% (at 74 as of last reading), I can’t see traders going against historic trends hear and blowing out of these positions in defiance of the Turkey gods.

In other words, I think yesterday was something of a panic day.  Do tell, right?  

But panic days are what we are here for… especially when they are delivered toward the end of the year and a mere week before Tryptophanatic Day.

So far the Bernank seems to be playing along, as the dollar is currently down below my target of $77.80 as revealed on Fly’s blog yesterday.   If it stays down there, I believe we will have a chance for a sustainable bounce in play on all the PM’s and even the much beknighted silver that so many were moaning about here yesterday. 

Before I show you my silver chart, I want to remind you that it was junior golds that I thought would provide the biggest bang for the buck here.  That should still be here, and outside the old favorites of SLW and EXK, I would probably avoid getting too crazy about silver miners until we see a rebound, and then a re-test of yesterday’s levels. 

That being said, I note that AGQ weekly is still well above it’s long term trend line.  And while yesterday I thought perhaps we’d get a test of that line, I think we may even open higher this morning (above $60), and if so, I might actually begin adding to my 50% positions here.   The stops are pretty obvious on the weeklies, but you may not want to set them below the trend line if you are more of a short time type.   In that case, I’d recommend a stop below $60, and a “wait and see” going into next week.  

Keep in mind that Friday after Tryptophan Awareness Day is often one of the best PM days of the year (although not always long lived).  Here’s my latest on “fast money” AGQ.


Given the oversold levels of AG and even of the more stable $HUI (we missed the 200 day EMA ($552) by a hair yesterday, and may test today, but we did bounce right at the reliable 34 week EMA as well), I will be looking to add to a number of positions today.  

Keep in mind a number of caveats…

1) If the dollar index (DX-Y) breaks back above $78, which is the 61.8% Fibonacci retrace on the long term weekly, I will take these adds off

2) If the $HUI breaks below it’s 200-day EMA (approximately $552), I will take these trades off.

3) If the POG breaks below $1700, I will take these trades off.

Again, I am still not convinced that any of the above events means our traditional Santa Claus Gold Mitzvah is off for this year.  In fact, it probably just means the rebound will be pushed into next week.

That said, one must take some precautions, and those levels are good ones to pay attention to.

Perhaps we will revisit this weekend, if I don’t have 12 kid parties and 15 lacrosse/field hockey/Quick Recall games to attend.

My best to you.






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The Turkey Was Gilded

gold turkey


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]


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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