One of these days I’ll shut the hell up about moving you into real money assets as quickly as your penny stock-spindling portfolio will allow.

But that day is not this day.   Not when the latest news clacking over the Jesse Livermore-era news ticker  in my offices reveals how Kommandant Barack is now going to nationalize GM — but “only temporarily.”   Turns out Dear Leader wants just enough time for Rahm Emmanual and Lanny Davis to wheel that aging aerophin-appended Caddy into his airplane hangar chop shop so to whack it up for distribution to loyal U.A.W. gummint cheese recipients.  

Tanks you veddy much, Kommandant, and dont’ forget to save the steering wheel, the white wall tires and the chrome ashtrays for the bond holders!    I said leave those white wall tires, you! 

So if the good fellahs in charge of everything  — and damn, they really seem like they are in charge of everything these days, don’t they? — are that cavalier about the big buck bondholders (some of whom were stupid enough to give them campaign money just months ago) , doesn’t that make you just a wee bit nervous about how well they are going to treat that other little U.S. bond obligation: The Federal Reserve Note?

So have fun, and be a silly piebald carnival piker if you’re so compelled.   By all means, stuff yourself into the clown car with all the other PPT nutjobs .  Throw some funny money at chip stocks that have been moribund since Bill Gates was still a virgin, if you feel that exercise will further your spiritual growth.   Go nuts. 

Hell, you’ll probably find me in that same Yugo  from time to time, playing Parcheesi with Ragin Cajun  whilst simultaneously sword fighting  The Chart Addict.    I’m human, after all, and enjoy an OTB rocket ride for greasy coin and bed bugged comfort as much as the next guy. 

Just don’t get too homey in that clown car, Homey.  Five will get you ten it will soon be remandered by the EPA for egregious CAFE standard violations, environmentally malevolant tailpipe emanations,  and toxic silly string abuse.    Then it’ll be medical experiments for the lot of us.

Well, not those who have been prudent about tendering some savings to the Jacksonian Core Holding Portfolio, whose hard money and hard asset plays will serve to keep some of us cosy with hot buttered rums and chedder toasties , whilst the OTB pikers scrape at our doors.  No luck for them I’m afraid.   They shall be turned out with a stern warning from Cuddy, our trusty footman.

But Cuddy welcomes the purchase of silver this day, as the Three Musketeers SSRI,  PAAS and  SLW scored again, with wins of 7.64%, 5.39% and 3.75%, respectively.   Do you get the feeling the market is trying to tell you something, Jacksonians?  

Beating even silver today was coveted (but not precious) metal molybdenum, as  JCHP member TC rang the bell with gains of 9.36% today.   All in all, the Portfolio only had two slight losses, and both in the red hot agricultural sector.  I expect MON (-0.69) and ANDE’s (-1.09)  small losses to be more like rests than ultimate pullbacks.   Still, this is why we’ve diversified even within this stable grouping, up 2.85% for the day.   Now quickly, onto our daily review:

ANDE — $22.62  (-1.09%)

GDX — $38.43 (+2.51%)

GLD — $90.96 (+0.66)

IAG – $9.88 (+1.23%) 

PAAS — $19.74 (+5.39%)

RGLD – $40.66 (+2.16%)

SLV — $13.98  (+2.95%)

SLW — $9.13  (+3.75%)

SSRI — $20.86  (+7.64%)

TBT — $51.04 (+1.07%)

TC — $9.00 (+9.36%)

TSO — $17.22 (+3.11%)

Daily Average:  +2.85 %

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‘Twas a rough day in the trenches for most of the Jacksonian Core,  but then we turned lemons into lemonade by using the retrenchment here to pick up some final positions in the silver miners, including AGQ (Double Silver ETF), PAAS,  and SSRI.   Those buys were featured in my previous post,  if you want entry points.

   I did not add to my “favourite” (sic) silver miner – SLW, but only because I already have what I consider to be a “full position” in SLW, at least for now.    I may augment that position from time to time with options purchases (or sales in hedging situations), but I will likely not add any more equity in that name.

I also eschewed adding more EXK  (-5.89%) today, due mostly to it’s volatility and low float (less than 150 k shares traded a day).  This is a stock you want to accumulate when it’s asleep — its just too damn hard to pick up when it’s moving hard one way or another.    I reserve the right to add to EXK in more calm seas.

I also added some non-Jacksonian Core gold positions, some old, and some new, whose entries are also found in the previous post.    You’ll recall I purchased a beginning position in NGD just before yesterday’s close.    That stock actually held up well, so I decided to also add its “brothers” NG and NXG.  All of these have been showing favourable (sic) patterns in the last few weeks, and their purchase is part of a diversification strategy in the smaller miners.   It’s best to take this shotgun approach with these smaller guys, as you usually cannot pick up their exposure via the GDX ETF, which only purchases the larger cap issues  but you want to have a position in these flyers for when they start to run.   Some of them will double and triple, but in these cycle peaks, you never know which.     

In that regard, I also added to my position in ANV at the end of the day.    Like with SLW and EGO, I now have a full position in this name, and expect to see it run to at least the 61.8% fib retrace at $6.72 before breaking out to new 52-week highs. 

I also took this opportunity to hedge out my largest (and non-Jacksonian) position in UPS, and to begin a “foot in” purchase in SRS  as well. 

Non-PM Jacksonians did well and not so well today, MON was up a little less than 1% while its sister Ag play ANDE was off  4.67%.    If ANDE cannot hold above the $19.40 uptrend line here, it’s likely to fill that gap over a dollar below it.   As well, Jacksonian Core Coal play NRP (-4.89%) has been performing miserably here, even as coal operators have been consolidating.    This could be due to a (temporary) interest rate response, but I won’t recommend adding to this one until it’s back over the 38.6% retrace at $22.70.     Last, refiner TSO was largely flat–  off less than half a percent.

Without further ado, here’s the 14-Member Jacksonian Core’s performance (arranged alphabetically for your reading pleasure) for today:

ANDE — $19.79  (-4.67%)

GDX — $37.94 (-2.61%)

GLD — $91.09 (+0.42)

IAG — $9.87 (-2.66%) 

PAAS — $19.26 (-3.02%)

RGLD — $40.60 (-2.98%)

SLV — $13.81 (-1.49%)

SLW — $8.85 (-5.04%)

SSRI — $19.93 (-5.18%)

TBT — $49.29 (-2.08%)

TC — $7.68 (-4.00%)

TSO — $16.09 (-0.43%)

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A bloody good evening to you all!

(Warning! Extremely stupid video to follow, usher the children from the room)

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

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Bot 1,000 more AGQ @ $44.27.  Bounced right off the 61.8 % fib line at $43.57 this morning. That would have been the perfect entry, but I was trying to respect my 10:00 am discipline.

UPDATE: Ditched the remainder of my CRAAPL @ $121.05.  Only 400 shs left, but I kick myself for not cutting it loose over $130. 

UPDATE: Bot 6,000 NG (PPT: Buy) @ $3.30

UPDATE: Bot 2,000 more SSRI (PPT: Sell) @ $21.18

UPDATE: Bot 6,000 (starter position)  NXG (PPT: Strong Buy) @ $1.85

Non-Jacksonian UPDATE: Just hedged out my UPS position purchasing the July 50 puts and selling the July 45’s for a debit spread of $1.50 a contract.   Shelter in a storm.

Non-Jacksonian UPDATE:  bot 2,000 SRS @ 24.55-.56 for downside hedge.

UPDATE: Bot 2,000 more ANV (PPT: Strong Sell) @ $5.81

UPDATE: Bot 1,000 more PAAS  (PPT: Sell) @ $19.09

Caveat: If you purchase any of these PM plays you may wake up with The Midas Touch — but ironically — only with respect to your favorite cats.    On top of that, you could easily lose money.

Developing…

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AGQ (+3.75%)

EGO (+2.28)

EXK (+8.24)

GDX (+4.42)

IAG (+4.11)

PAAS (+1.28)

RGLD (+6.98)

SLV (+2.04)

SLW (+5.78)

SSRI (+7.41)

And newcomer (bot 10k @ $2.19 late day) — NGD  (+13.54) 

Non precious Jacksonians MON (+4.82) and TC (+3.36) did well today too.   

Ever onward — this PM revolution is not done by a long shot.

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[youtube:http://www.youtube.com/watch?v=Gz3Cc7wlfkI 450 300] 

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UPDATE:  Looks like we will have a chance, however brief, to get into some of these silver (and gold) plays this morning if we have been remiss.  With my usual caution, I will wait until 10:00 am or so to see what the market looks like.   I will be looking specifically at the smaller caps, like EXK, ANV, EGO, NG, NXG, and even CDE and HL.

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What the hell was going on with my silver and gold plays today?   Something sneaky I thinks, my preciousss, yes…. verrrrrry sneaky, it is, yessss! <Gollum>!

A lot of people who watch these things were commenting on the PPT and elsewhere about the noticeable surge in end of day trading on almost every major precious metal play, both gold and silver.   What people may not have noticed, however, was that a similar surge — of similar length (timewise) was going on in the 10 a.m. to 10:30 a.m timeframe in those same names.   Let’s take a gander at today’s [[SLW]] 5 minute daily chart as our first example:

First, let’s note that there are 78 5-minute periods in a trading day.   In most of these examples we are talking about only 8 or 9 of those periods, because of where this buying phenomenon was taking place.   What was notable for me was WHERE these buys were coming in.   Conventional trading wisdom tells us that “the big money”  — meaning the institutional traders– will generally make themselves known in the very beginning of the trading day and at the very end.  

The first period of activity here is right at the 10 a.m. hour which is not literally the very beginning of the trading day, but perhaps marks the period where most seasoned traders begin to take positions “after the morning shakeout.”    Given that this is a Monday, and we had a relatively large negative futures position trading at the open, this explanation of “wait and see” makes some logical sense.   The uniformity across the sector also gives some indication of a coordinated purchase here,  as there were very few large well traded names in the precious metal sector that did not see some kind of activity in the 10-10:30 area this morning.

Note also the last twenty minutes of the trading day.   We can ascribe some of this scramble to short covering, of course, but large late day purchases generally bode well for tomorrow’s trading in these instances.   I believe that is so because institutions are clearing the way here for more explosive action in the next few days.    Keep in mind that the four five-minute candles (or, 20 minutes in total) we see make up only 5.13% of the trading day, but are responsible for 10% of the shares traded.   Again, I think this is significant not only because of the volume, but because the rapid ascent and the sharp upturn of the A/D oscillator shown in these last twenty minutes also indicates that most of that volume was buying at the ask.

Let’s look next at fellow Jacksonian Silver pick  [[PAAS]] :

If anything, the two moves in PAAS are even more significant in both price and volume, compared to the rest of the day’s trading.  The four five minute candles from 10:10 to 10:30 a.m. comprised 13% of the day’s trading and reflect a large buying program, as the price ascended rapidly.    The rest of the day consisted of light volume pullback until again, the last tweny minutes gave way to almost 20% of the day’s trading, and another rapide ascent in price.   All tolled, those forty minutes (10% of the trading day) of buying accounted for one third of the daily trading, and again seemingly almost all “on the ask”  — figuratively, if not literally.  

Let’s look last at New Jacksonian Holding [[SSRI]] :

SSRI shows a full half hour of buying in the morning, again, starting at 10:10 and concluding at 10:40.   While this morning purchase was not market by the same volume as PAAS, it again shows the rapid ascent characteristics of a persistant buyer or buyers behind the bid.    That half hour comprised about 11.6% of the daily trading (in about 7.7% of the time) and the “afternoon session” was limited to a brief fifteen minute period that was marked by increased volume and another very rapid ascent.     In that fifteen minutes (less than 4% of the trading day) we saw over 12% of the daily buying.   Again, I think it’s clear we are talking about a concentrated interest here in this final burst.

In the interests of saving time and space, I won’t go through the Jacksonian gold positions that saw similar patterns today.   Interestingly, not all of the golds — particularly the smaller cap names (like [[EGO]] and [[ANV]] ) — saw the 10 a.m. buying, at least not in the same consistent fashion.   However, they all saw the late day surge in purchasing with ANV seeing a full 23.7%  of it’s daily buying (along with a 4.5% price move) in the final 15 minutes!

We find the same morning and afternoon program purchases that we saw in the silvers above in Jacksonian pick [[RGLD]], with 10% of the daily trading between 10 and 10:25 a.m. and another 15.5% in the final 20 minutes of trading.   [[GG]] shows a very similar pattern, as do many other of the “big golds” like [[AEM]].

I guess in conclusion I’d posit that there’s something afoot here, friends, and that you should be attending to your PM positions, as I think we may see a more significant move here in the coming days.   Of course, we may not, and all of this coincidental analysis could be the result of  my rampant apophenia due to excessive exposure to William Gibson novels.    Nevertheless, I believe this action bears consideration and careful attention.

Be well, friends and enemies.

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I don’t have a lot of time to mess around today, as I’ve got to catch a plane to Noo Yawk for a weddin’ this weekend.   I”ll have you know that I come from one of those “wide & deep” Irish families, and as a result have about 2,326 first cousins on my mother’s side, which also means most of my “vacations” from spring through December consist of going to a wedding somewhere.   Ah , well — you live with these things for family.

That said, I wanted to comment on a bit of prejudice against the purchase of silver and silver miners that I encountered on the PPT the other day — coming, to my surprise, from one of our better known bloggers (he shall remain nameless for dignity’s sake)….

(cough!)

(cough!)

(cough! cough! ack!)

Anyway, I wanted to leave this note for those who might be concerned about this lack of discretion, and warn you not to take heed.   This is the absolute best time to be accumulating silver and silver miners, as the Blees Rating (large money accumulators) is over 90 (out of 100), and the government is destroying our currency at a rate matched only by the rapidity with which ACORN has signed up phantom voters for the next election.   

Most important, you must not heed the prejudicial rumours (sic) posted by some that accumulating silver will give evidence  that you may be one of these:

Not that there’s anything wrong with dressing special on one’s free time.

And, yes, other stocks are doing well here and some better than the JCH.   That’s a good thing, and you should take this opportunity to convert some gains into harder assets.   Because believe me now and hear me later — when the time comes, silver will take off without warning, just as it has in the past — leaving many gaping in its wake.   You want to have set aside your store of acorns for the winter.

For review, I like PAAS, SLW, SSRI, SLV and a smidgeon of EXK and AGQ…. and please don’t forget get some hundred ounce bars of the physical as well.   Same goes for gold coins, and EGO and RGLD look nice here as well. 

Be well all,  and I’ll check back in tonight or via Crackberry earlier.

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