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I Zold Nossing!

[youtube:http://www.youtube.com/watch?v=34ag4nkSh7Q&NR=1 450 300]

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I had a Sargent Schulz moment this morning and, as a result, ended up selling “nossing.”

As you may recall, we opened kind of weak in the miners, and I decided to hold off til my usual 10-11 am period to dispose of some stocks.   But we began rallying shortly after the open and it looked like gold was trying to hang in there.  Generally, I would not recommend this line of indecision and I would enjoin you, rather,  to “follow your plan” at all times.

Sometime, however, my “gut” tells me that I should stay my hand.  Often times allowing for a little patience, and “not trading” instead of pro-actively trading, I’ve saved myself considerable heartache and regret.

That doesn’t mean I won’t be selling tomorrow, however, even as the dollar drop today tells me it will be difficult for gold and silver to break down any time soon.  What I may be doing instead is selling a portion of some of my fatter gold plays (and maybe some silver if we discontinue our current rebound) and investing in some “fast actin’ Tinactin” recovery stocks, like EEM, QLD, TNA and perhaps even some ERX (sorry Cain!).

I would be loathe to abandon the recovering baser metal plays as well in this snap-back, so I will be inspecting TC, TCK, TIE and even some AVL tomorrow.  Last, take a look at two good beat-downs for some fast flash action — CREE and PBR .  These are two of my old favourites which have fallen considerably OUT of favor.   They may be worth a spin of the wheel.

Best to you all.

 

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Not Just Pitino’s Birds Going Down

Pitino pissed

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It wasn’t just Rick Pitino’s formerly unblemished Cardinal Birds team that went down today to the scrappy Drexel Dragons of Philly, it was a plethora of formerly high flyers. One great example is the LED players CREE and VECO, which got swung from their armpits into a molten lake of lava today.

Like my Cards, these high fliers were tired, and yes, a little bit cocky with their recent gains. Only the grace of God saved me from getting left standing by the record players on these two. I was trimming recent runners, and had only a bit left of these two, so I decided to take profits on the rest over the last week, the last of which I sold yesterday, as reported in The PPT.

I think what happened to CREE….

And to it’s close sister VECO….

… all goes to show that the momo is starting to come out of the markets.   I again implore you to continue trimming back risk assets such as these “tip of the iceberg” plays.

Best to you.

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Love’s Labour (Sic) Lost

 Christina Labour Day

No, not that.

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I hope you all had a fine Labour Day Weekend.   I spent mine fending off a myriad of stressful “deep nature” day trips (with all the kids) whilst trying to cajole–via overheating Crackberry Storm II — both clients and adversaries into a proper canvas and balsa-wood box which I plan to nail shut tomorrow morning and mail to Zambia, postage due.

True, I do this stuff because I love it, but I also do it for Barak and his indigent health care plan.   I want to make sure that shit is well stocked as it launches off the pier.

Given that The PPT is indicating at least a near term pullback, perhaps as early as tomorrow morning, I figure I’d take a look at some loooooonger term plays out there that may be worth taking a pinch of snuff and blowing some loose cash on.

Said loose cash should be in abundance as you all are reaping big gains from the TNA sales you’ve been harvesting as The PPT has directed you, yes?   

Or you’ve at least salted away a couple of dollars by following my direction in ANV or SLW in the last six weeks, am I correuct (sic), sieur?

No?

No matter, as I’ve always got more to give, though it’s questionable whether you deserve it or not…  I think at least two of the following three will work going forward to Christmas, or at least the time of the Turkey gods.  Let’s see if  you can figure out which I think are the best.   First, our recent wilting lady, CREE in a monthly chart:

Then there’s her somewhat zany half brother in the LED poison industry, VECO:

Then, just for giggles… there’s that one I told you to hold until you were a grandmother, or similar benevolant adult figure.  It really doesn’t need much comment:

Don’t lament that you were not here at the beginning of the bull in precious metals.  Rather, take advantage of a trend that still lives.   Andgo ahead,  fool around with a couple or three tech names as well, but be cautious, as those should be shorter term plays (within this year) than the PM’s.

Best to you all, and Happy Labours.   Try to keep hold off some of it, eh?

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A Special Message from Christina Hendricks

Christina H.

“Buy Stocks, My Plebs!”
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I ran into CH (that’s what I call her, “CH” — we’re buds) at the perfume counter at Bergdorf’s and she said “fugheddaboud the gold and the silver stocks for now, Jake, go out and get you some high beta stocks. Now, ged OUD dah heah!”

That vocal coach has done wonders with her Joisey accent, no?

CREE, VECO, SQM, POWR, TIE and, most of all, ENTR are all on my radar screen for tomorrow.

Slainte.

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The Inevitable Decay Of the Boomers

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[youtube:http://www.youtube.com/watch?v=dQtq4Z4t1yQ 450 300]

Coupled With an Egregious Loss of Dignity

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SLW was up 25% this past August.  You’re welcome, any time. 

I expect we’ll see a bit of consolidation in the PM names into early September, perhaps even coincident with a pullback in TLT, our nemesis.

Then again with the action in ANV today, that might just not happen at all.  I hope, however, that it will, as I would like to add a bit more ANV before that behemoth continues to roll on.  Remember what I said about how powerful that stock was off a touch of the 200-day EMA?  That was back below $16 a share, less than six weeks ago, and today she hit $24.50 before backing off to a dollar lower than that. 

Now futures are raring up in a wholly unexpected September first blastoff.  I mean who could have thought all that low volume selling on Monday could have been big money positioning? 

Right? 

PM’s may rest here, but I’m thinking ANDE and SQM — two recent mentions, along with old Jacksonian friends TC and TCK, will offer plenty of fun-haus trading for those so inclined tomorrow.   Dollars to doughnuts, our friend earl starts launching again tomorrow.   I may partake in some eeeevil ERX as a result.

For the adventurous, it looks like CREE and VECO are ready to “POWR” up one more time.  Or you can go equally nuts with Triple Sec Russell play, TNA.

My best to you and your Boomer parents.   Well, kind of.

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By the Sacred Tam O’Shanter

 Tam O'Shanter!
Indeuuuuuuuuud, laddie!
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Well, Ole Glory Glory Ben’ll Doo Ya told you what he was going to do today, so the question you have to ask yourself now is : What ahh YOU gonna do aboud it ? (sic)

Don’t be surprised if all kinds of basket-woven skull monkeying comes out of this latest Fed announcement revealing that — sooprise, sooprise! — the wall eyed pirates are not going to shrink their balance sheet back down after all, and they will continue to launder the soiled curtains of debt they’ve been accumulating with the refreshing detergent of icey-Wintergreen mint T-bills.

In other words, have another round of champagne punch, my not so sober friend!

With the dollar as oversold as it still is, I wouldn’t be surprised to see some “re-invigouration” (sic) in our sickly green currency given the “all safe” pronouncement we just got from Ben regarding continuing Fed bond buying (doesn’t this just seem so very wrong to you??).   

 In fact, the daily dollar chart is already showing some signs of  coming off the oversold condition:

This brief respite aside, I don’t see the relief rally lasting very long.  One reason is the terrible technical damage we’ve seen in less then two full months.   The 20-day EMA has just today dropped below the 200-day moving average, and one cannot discount the steepness of this recent decline.   The smart money is getting out of the dollar for more dearer territories (you can probably name a few now, no?).

You can see the progression of the dollar decline more clearly on the weekly chart.  Note, we’ve sped to the first three targets to the $80 level, and I think it’s likely we’ll see a bounce back to $82 here before we resume the downward plunge…

The weekly needs to work off some of that oversold condition, and this announcement is likely a good place for the dollar to make one last sham-stand before heading once more to target #4 at $77.00.

Upon leaving your abode, please be sure to wear your especially configured tam-o-shanters with the lead-and-tin linings, in order to stave off any negative emanations from the cloven hooves and knobby horns of Jamie Dimond and the rest of the Fed Owning Banditos. 

We need you to stay strong, and we have our officers out in Manhattan wearing their lids already.  Be apprised and vigilant, as fines will be issued for non-compliance.

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To answer some quick questions, yes, ANV is still a buy.   I would wait on CREE to see how their lower revenue announcement shakes out, but I think they’ll be fine.   I wouldn’t touch JAG with a sixteen-ounce ball peen hammer, no claw.    It looks like it’s going to $5 at the moment, and there’s far better choices out there.

Best to you all.

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