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I’ve got an extremely busy week ahead of me, so while I will attempt to log in as much as I can, I don’t expect I shall be my usual garrulous self.   I’m traveling out to Southern Bustopia on the West Coast, and I hope to be safely wheels down before the airport bonds go teats up, and the baggage handlers start throwing Molatav cocktails at the TSA while storming the control tower.

I expect I may end up having to be Hummer’d out — a la “Mad Max: The Road Warrior” — so I’ll be bringing several ingots of .999 silver to pay for the petrol and extra ammunition.

As far as that goes, this week may be a good week to trade some silver in for consumer goods like eye black and B.A.R. rounds, if you are so inclined.  A nice plow and a brace of oxen wouldn’t hurt to hold in reserve either, if you’re agriculturally minded.   You see, with regard to precious metals, I think we may see a dollar respite here, so I sold another 10k of EXK on Friday, bringing my position down to about 30% of my original peak.

I also divested myself of some IAG, some GSS, some CDE, a touch more SLW,  half of my PAAS, and about 30% of my ANV, with the remainder of those both being hedged, along with hedging most of the rest of the portfolio I didn’t choose to sell.   I now have egregious amounts of cash with which to buy what I believe will be a forthcoming dip in the precious markets that I believe we’ve been holding out for since early December.

I may be wrong, and if I am the first thing I will be purchasing is AGQ.   I will certainly let you know.

God bless you all, this night and always.

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And Yes, Rex Grossman Was Screwed, Too
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Didn’t take long for the first of my semi-facetious predictions to fail did it?  Well it did, and my Giants, despite winning today over a semi-revitalied Rex Grossman-led Redskin team, were drubbed out of the playoffs by the Green Bay Fudge Packers, who beat them this week and dah Bears (see above) today.

There’s nothing like just missing the playoffs to make for the worst of all possible worlds.   Despite a 10-6 record, my team will be on the sofa next weekend, and — adding insult to injury — will likely keep the Angry Leprechaun, Tom Coughlin and his offensive (in the literal sense) coordinator, Captain Kangaroo Kevin Gilbride in the driver’s seat for at least another year.   The final coup de grace — we’ll get a crappy “playoff level” draft pick because there will be playoff teams that have worse records picking behind us. 

I guess I will become a Jet fan for the few short weeks for it to take them to snuffed out by Eli’s older brother or some similar such ignonimy.  Gosh knows there’s no one in the NFC honorable enough to root for, and I am beginning to really despise the Packers, I’ll have you know.

But never as much as Dawg Killah and the Eagles, no fear.

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As for me, I ended the year up a gigantaload.  So much so, compared to year end 2009, that you’d probably not even believe me, so I won’t boast about it.  Suffice it to say that I was still piling on win in huge amounts even on the last day of the year, despite being about 40% hedged and having about 30% in cash.   Ironically, my largest single gain on December 31st was Monsieur’s FTK, which I do believe I shall keep for a while, ovah heah.

I also believe AVL — the old Avalon Metals now on the Amex Exchange — will continue to shine it’s bizarre functional-if-rare metallic lights on my precious laden portfolio.   I will have more to say on the rare earths as we move forward– I am digging diligently as you read this…

Without question silver will continue to shine, and SLW, PAAS, SSRI, MVG, SVM, CDE, HL, and yes EXK will continue to shine.   I will let you know when I will begin piling in on a leveraged basis soon enough.  I think the dollar remains on the edge of the knife (it is rallying as I type this), but until it breaks, I will remain positioned as I am.

We will also look into the ags, and I think it is time to re-recognize the farmer Jacksonians — ANDE and MON again, as strong picks going forward.  TC and TCK, the molybdenum brothers, should also perform here.

I haven’t posted the Jacksons as of late, but if you were to have held them since this blog’s inception (May 1st, 2009), you’d be up 125% right now, and that’s with a negative return on both MON and TBT, both of which I urge you to continue to accumulate this year.  

Stick with me kid, we are going places in 2011….

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The Turkey Gods are here.  Tremble, all ye who remain Ursine in attitude.

How do I know? Simple.   I merely whip out my prodigious folding money clip and scan the Benjamins, Grants and Jacksons for signs of wear and tear.   Sure as shootin’, there’s been beak-damage done to all the eyes of my papery dead Presidents.

The Turkey Gods love to eat dollars, but they especially love the vile jellies of moldering dead American War Heroes.   And yes, historical termagents, Ben Franklin was also a war hero.

Said heroes are not to be confused with “The Ben Bernank.” He is the hero only of the Currency Crusades, a tilter at windmills and the paper dragons of deflation. Soon, his unsmiling bearded mug will adorn the $10,000,000 dollar note, Zimbabwe-style.

Tonight, the dollar is below my “drain level” of $78.20 — currently trading at $78.13, after hitting lows tonight (Sunday evening) of $78.08.   I believe this is the “all clear” signal, and will be pushing the rest of my chips all in.

Not sure how many of you caught my large pickup in junior gold stock IAG, as announced in The PPT, the other day, but I grabbed a lot of December 17.50’s well below $17–.   I think that will continue to work.

However, I think the big silvers will be the one’s off the chart next week.  If you were contemplating the rulers — SLW, PAAS, SSRI or even the ETF, SIL, then this week is the time to grab hold before the end of the year.

The one I really like in the more speculative area, however, is EXK.   I also like SVM and MVG in the more speculative range.   CDE and HL — the garbage of the sector, should be handled with care.  No matter, they should all rise through to the end of the year.

RGLD, EGO, and of course ANV, gold juniors all, should also be at the top of your lists, as well.

Best to you all.

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[youtube:http://www.youtube.com/watch?v=vNc5o9TU0t0&feature=related 450 300]

Jimmy Page, eat your heart out!
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You may be familiar with my call that gold and silver are overbought and should be pulling back here. Well, I still stand by that call, and as proof, today I sold approximately 25 to 40% of my EXK, BAA, AGQ, CDE, respectively .

Note I touched not any of my ANV or SLW, or IAG or RGLD, EGO or PAAS or any of my “core group.”    The reason is the Stairway to Heaven I’ve seen appearing in the charts, particularly the silver commodity’s chart.  First the weekly:

Yes, that’s our eighth week of “steady Eddy” up move we’re witnessing there.   And yet, look at how boringly stair step it seems… almost as if it is some kind of controlled move.  

It looks almost as boring — and maybe alarming — on the daily charts.   Behold:

Not a whole heckuva a lot of pullback in that stairway, eh?  That’s what’s kind of freaking me out from two angles.  First, this is not a “parabolic move” but rather a slow stair-step.  It’s highly unusual for such a volatile metal.  And before you start getting crazy about silver’s tiny market (true), the recent gold commodity charts look exactly like this as well.

It’s almost like someone gave a signal in August that it was time to swap shit dollars — ever so quietly and surreptitiously, like a cafeteria thief replacing roast turkey slices with wedges of liverwurst on all the whole grain wheat sandwich bread — for beautiful ingots of silver and gold.

This action gives me pause, even though I took some mighty profits today in the more volatile PM’s  (I also sold half my shitty BBT position, and trimmed or got rid of some outliers like JAH, KFN and a little VECO). 

This could be traders slowly covering short positions, I guess, in which case, we should ready for a strong pullback, as I’ve noted.   However, this could also be the precursor, the yeast in the bread dough, so to speak, of the parabolic move that I do expect later on this year or in the Spring. 

So we will wait and see, with bated breath, whether Christmas comes early this year… or right… on…. time!

Best to you all.

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[youtube: http://www.youtube.com/watch?v=uE-1RPDqJAY 450 300]

The Techno Classic

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It’s late and I just got home.  Burning the candle on both ends is probably not the best idea for your trusty Jacksonian surveyor, but I think we are coming into a critical period that may require some re-enforcement for loyal plebs seeking to make sense of this dollar killing precious metal market.  Therefore I post…

Silver is beginning to make great stirrings in the market and in the loins of pit traders across the globe.  Interestingly, the metal is still lagging some of it’s more accurate pre-indicators, specifically, it’s publicly traded miners.   Among the finest is that of SLW, whose weekly chart reveals that it has broken to new highs:

It appears SLW is just now breaking out to new highs in the weekly, and may have some runway left, stochastically speaking, even as it approaches oversold conditions.

The underlying metal, however, illustrated here in the guise of the widely held ETF,  SLV, seems to have much more potential momentum in front of it.   Look at this weekly:

 

In short, I would not be short silver or the miners here, and I would be looking at those resistance lines as a key to my adding regimen.   If the above lines are broken, then I believe the remainder of the silver miners will begin to show the same kind of new high action we are seeing in the high quality SLW right now.

Again, to reiterate, I am talking about PAAS, EXK, MVG, SSRI and even CDE and HL here.  Watch these in conjunction with the chart above and with Papa SLW, who will continue to lead the way.

My best to you and your mithril mail shirt assembly’ing.

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Watch for Gay Giraffes!
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As you know, I’ve been trimming the positions recently, despite taking an initial 2k share position in Central European Distribution [[CEDC]] today at $38.62 as announced on The PPT.  I also took the opportunity this afternoon to trim half of my Cree, Inc. [[CREE]] position in the high $79.20’s and 2k shares of Veeco Instruments Inc. [[VECO]] at $46.78.

On the PM side, I also dumped another 2k shares of [[CDE]] at $17.12 and 2k shares of Allied Nevada Gold Corp. [[ANV]] at $16.95. Do not fret, these are just minor sales in anticipation of a pullback.

I think we’re in for at least a brief pullback and I’ve been looking for some easy fat, sloppy targets that offer some bang for the buck, all giraffe puns excepted. I think I’ve found one in our old furry booted friend Deckers Outdoor Corporation [[DECK]] . 

“Lookee Here” as some apish Yankees would say:

 

We’ve all made some money on shorting Deckers Outdoor Corporation [[DECK]] in the past, let’s do it again, for auld (sic) times sake.

Best to you all.

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