The word from down here in the midst of my cold, damp and mutton-bone strewn hole is “chastened.”

I’m just going to leave up yesterday’s boast  — with it’s eyebrow-arching results red with glory –as a lesson to me about hubris in the face of Mother Market.  

She holds a ruler, you know, and it’s forged from annealed titanium.  

I’ve got the scars to prove it.

That said, I’m happy that some of my correspondents got to participate in some of this fear trade today with the added bonus of a fat discount from yesterday’s prices.   I’m thinking specifically of IAMGOLD Corporation (USA) [[IAG]] and Eldorado Gold Corporation (USA) [[EGO]] , [[CDE]] and Silver Standard Resources Inc. (USA) [[SSRI]] which were all bludgeoned yesterday and which I believe have now become nice opportunities here, especially on the bounce trade that will come in at some point tomorrow morning.

So wait til the afternoon, or a sell-off in the dollar, whichever comes first.

Enjoy these key bargains, whilst I gnaw (with satisfaction) on one of these stringy gristle-bones with which my carbuncle-encrusted gaolers (sic) have  pelted me.

I am ever so grateful.

Slange* (sic).
_______________________
*(Do not be fooled, it’s an Irish oubliette)

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(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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[youtube:http://www.youtube.com/watch?v=8Qtgm5g5Gyo 450 300]

Fly Takes on the Mustachio’d Bearshitters via Liberal Use of The PPT Hammer

____________________________________________

Here’s the full vid, if you’re interested.   I tried to isolate the part where Bugs sells the King’s garden property to the Sheriff of Nottingham (pictured above), but couldn’t find that select clip. 

 I thought the Sherriff’s self-head hammering in that scene (about 4:00 or so in the full ‘toon) a particularly apt metaphor for the ursine intransigients, but I guess the scepter-malleting depicted above will have to serve as an able “second best.”  

He is making the Sheriff a “KNIGHT” after all, right?

Too unsubtle?  Pity. 

_________________

More of the same wanton winning today, even as my activities in The PPT were relegated mostly to assembling one single ginormous call position in [[GDX]] .  

 I sought “deep-in-the-money” leverage here, purchasing the December 39’s and 40’s at $8.60 and $7.90 respectively.   I had to buy both at the ask, which I don’t like to do, usually.  However, I was unsuccessful with limit orders at lower prices, and did not want to wait another day, as I think GDX could launch again at any time.

I expect to hold these calls til near Turkey-Day, for what it’s worth.   I may shave some exposure if we have a large run-up earlier than I expect.

In other news, the “Killer Bee’s”  [[BAA]] and Beazer Homes USA, Inc. [[BZH]] continued to mint coin for myself and my compatriots in the bullion vaults of The PPT.      That’s just one letter of the alphabet in double digits…  I’ve another 25 in here ready to roll.

It’s been that kind of day in The PPT Wintocracy.  

 I continue to like IAMGOLD Corporation (USA) [[IAG]] , [[CDE]] and Silver Wheaton Corp. (USA) [[SLW]] for accumulation purposes here.

Tomorrow, I look at an interesting metal play starting with “A” — I think you’ll be intrigued.  

Until then, Slange (sic), and out.

___________________

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After all, this is why we are socking away wins for a rainy day:

So yeah, the Jacksons (up a collective 36.5% since May 1st as of today’s close) may be doing egregious “loaves and fishes” type miracles with your cash pile, but let’s keep our nose to the grindstone, as you’ll need that dough when a ham on rye, hold the mustard sets you back $36.25.

Remember we are all about dollar destruction here.   Take a look at that chart and ask yourself if the Congress and the Fed are going to support that kind of spending (not to mention the huge Medicare and Soc Sec liabilities) via the good old fashioned “belt tightening” of increased taxation and spending cuts?  

As they say in Texas, “No, hail no.”

So let’s be opportunistic and remember that there will be pullbacks in these metals, but that we need to manage our positions to maximize cash flow in this critical period.   For me that means selling calls at critical junctures, and even trimming the sails to raise cash from time to time.  If I’m reading things right, however, you are in for a bumpy, but enjoyable continuing ride here.

Keep in mind Rubicon Minerals Corp. (USA) [[RBY]] has broken to new highs yet again, and Allied Nevada Gold Corp. [[ANV]] remains a favourite pick.   I may take some leverage (ie, bot calls) off the table in Silver Wheaton Corp. (USA) [[SLW]] soon, as it’s run faster than it’s brother silvers by far, with over 66.8% returns since May 1st inception, while [[PAAS]] and Silver Standard Resources Inc. (USA) [[SSRI]] are only at 43.5% and 29.2% respectively.   I think SSRI especially will gain from here. 

On the junior level [[EXK]] continues to be a junior trooper, and I continue with a leveraged position in [[CDE]] as well, because of the acute lack of overhead.  I also own Hecla Mining Company [[HL]]

On the gold side, IAMGOLD Corporation (USA) [[IAG]] remains the monster of the pack, with 85.8% returns since inception, but I’d look for a pullback here before jumping in.   Eldorado Gold Corporation (USA) [[EGO]] and Allied Nevada Gold Corp. [[ANV]] still look like they can pack punch here, however, so keep an eye out on them and yesterday’s mention Gold Fields Limited (ADR) [[GFI]] .  

 Last, non-PM Monsanto Company [[MON]] grabbed back some ground today but continues to be undervalue in the Jacksonian sphere.   Still a “grandkids pick.”   The Andersons, Inc. [[ANDE]] –up over 106.5%  since Jackson inception — is still our leader, and looking for $39 as it’s next “achievment.”

I’ll have more tomorrow, but let’s shut it down with a veritable classic from my youth.   Share it with a favored son of daughter, and it’s likely they’ll never forget it:

  [youtube:http://www.youtube.com/watch?v=P7tQVEEPWv0 450 300]

Slange.

__________________

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`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.

“Beware the Jabberwock, my son!
The jaws that bite, the claws that catch!
Beware the Jubjub bird, and shun
The frumious Bandersnatch!”

He took his vorpal sword in hand:
Long time the manxome foe he sought —
So rested he by the Tumtum tree,
And stood awhile in thought.

And, as in uffish thought he stood,
The Jabberwock, with eyes of flame,
Came whiffling through the tulgey wood,
And burbled as it came!

One, two! One, two! And through and through
The vorpal blade went snicker-snack!
He left it dead, and with its head
He went galumphing back.

“And, has thou slain the Jabberwock?
Come to my arms, my beamish boy!
O frabjous day! Callooh! Callay!’
He chortled in his joy.

_____________
(Note: Above is actual eye witness report of my Fed Dollar battle today)

Not much to report tonight.  A little bit of pullback at midday, but I did indulge in some egregious silver miner [[CDE]] call options (as reported in the earlier thread, I took down 40 Oct. 17.50’s at $2.60) for a lark.  I really do think CDE will be a nice hold here for a bit.

IAMGOLD Corporation (USA) [[IAG]] had some run up today (to $14.87!) but then sold off to end the day at $13.40. This stock doesn’t seem to know what to do (it was up again 25 cents in AH), but I would guess it’s going to consolidate along with a bunch of other fast runners here, including even our $HUI index. I still like silver here, as I may have mentioned.

On the non-precious side The Andersons, Inc. [[ANDE]] has broken out over $33 and my next target is $39. Despite all the other rockets popping, this is still my best performing Jackson at +99.6% since our May 1st inception.

Other non PM Jacksons that look strong here are again Thompson Creek Metals Company, Inc. [[TC]] and Teck Cominco Limited (USA) [[TCK]] . Monsanto Company [[MON]] bides its time, but reserves the Hippocratic Oath for now. Other non-PM “hoppers” I like include RTI International Metals, Inc. [[RTI]] , Calgon Carbon Corporation [[CCC]] , Titanium Metals Corporation [[TIE]] and yes, even Alcoa Inc. [[AA]] .

The Jacksonian Portfolio stands at a “mahvelous” 31.4% return for the little more than four months its been in place. I thank you for your patronage.

See y’awl tomorrow.

__________

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Again, there’s no need for braggadocio.  It’s too early yet.

Let’s just recognize that there will be pullbacks, perhaps as soon as this week.   Those pullbacks may take the form of consolidations, or real live gut-rippers like we experienced in rocket ship IAMGOLD Corporation (USA) [[IAG]] last Friday.   Take a look at my notes on the Jacksons for further guidance. 

Important to note, however, that we’ve broken out of the long term triangle on the $HUI, and out of the recent June highs, with a close over $409 on Friday.   Next targets are $475 and the old highs of $525.   I am firmly convinced we’ll see both those levels well before Christmas.  This should drive the Jacksons for the remainder of the year, and I think there’s ample room for continued participation here.

Remember this chart from a couple of days back? 

Well, look where we’ve come in two short weeks:

My favourite (sic) non-Jacksons include Allied Nevada Gold Corp. [[ANV]] , Rubicon Minerals Corp. (USA) [[RBY]]  and Golden Star Resources Ltd. (USA) [[GSS]] on the gold side and [[CDE]] and [[EXK]] on the silver.   I really like the free air on the CDE side.   It could go to the low forties with very little resistance now that it’s broken out of it’s May closing highs.

Here’s the weekly Jackson review… note the monthly is higher than the weekly in this first week of September, because August 31’st was such a down day for many Jacksons.

Name/			%		Portfolio	Portfolio
Ticker	28-Aug	4-Sep	Change		Value	Impact		Comments
ANDE	$        32.92	$      32.34	-1.76%		$             9,764	-0.10%		Still looking for the break of $33. Soon!
EGO	10.56	11.21	6.16%		$           10,504	0.39%		$11.50 is BTFO target
GDX	40.18	45.02	12.05%		$           13,626	0.98%		Look for pullback this week. BO>$45.25
GLD	93.87	97.53	3.90%		$           11,217	0.26%		Looking for $100.
IAG	12.02	13.84	15.14%		$           17,065	1.55%		In BTFO territory, and consolidating BO.
MON	83.00	82.24	-0.92%		$           13,047	-0.07%		Coiling on low volume
PAAS	19.99	22.45	12.31%		$           13,483	0.99%		BO out of triangle. Pullback level – 21.50
RGLD	39.95	45.98	15.09%		$           12,705	1.15%		Massive two day BO.  Next target $48.65
SLV	14.50	15.97	10.14%		$           12,973	0.79%		Broke weekly DT, over 15.75 resistance
SLW	10.45	11.59	10.91%		$           11,258	0.74%		Massive BO.  Next target $14.
SSRI	18.28	21.09	15.37%		$           12,269	1.13%		Needs $21.50 for BO level
TBT	46.74	47.70	2.05%		$             9,502	0.12%		Bounced from $45 low, now over $47.20 again
TC	11.98	11.89	-0.75%		$             9,787	-0.04%		May have bottomed at $11
TCK	25.20	24.36	-3.33%		$           23,505	-0.47%		May have bottomed at $22.05
Cash (000)	$        0.00	$    12.64	0.01%		$         12,644	0.00%		Same
AVG (weekly)			5.67%		$       193,350	7.41%
AVG (monthly)			7.88%		Actual cash
AVG (inception)			32.81%		on cash return	28.90%

Best to you this week, and watch for pullbacks!

___________________

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