Get ye a loverly (sic) tomato or a specially inscribed “collector’s edition” JakeGint mug!

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Oh it’s cascading knife times like these that demand the use of The PPT to weather the hot blades of imminent portfolio cut-pursing!

It should make no manner of matter to you that The PPT‘s inventors are, collectively, an unrepentant Obama Voter from Pizza Island, and a crazed technophile man-child long since nailed-up inside his mother’s basement (by his own mother).

For the love of Ike & Mike and their subsequent Massachusetts nuptials The PPT has been saving lives over these last few weeks–  pulling children from burning buildings, quelling vast hive-swarms of killer bees, applying sun screen to sensitive ear lobes and high foreheads– metaphorically speaking of course.

But of course also metaphorically speaking “And Mooooore!”  

You should go in there (in to The PPT) sometime.   There are people in there offering plum cakes and first born children to the Fly for saving their retirements and their marriages.   You probably think I’m kidding.   I assure you I am not. 

We’ve really got a machine going in there, we lucky few, we sceptered islanders, we England.  

Sometimes, I almost wish Fly’d give Ducati a few days in there, that’s how generous I’m feeling right now.   He’d have to promise to be on his best behavior of course, but who knows what a glimpse of heaven might do?

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For my part, I remain in my bunker of gold whilst molten asteroids rain down from above, leaving gaping wounds in the loamy veldt surrounding my doors of filagree-worked platinum. 

I like gold here because it’s my anchor at $1,242+ and “steady, steady now.”   I know, I know, Jim Rogers says he’s not buying it, and he’d rather buy silver or even palladium.

But what’s quite odd is that Rogers has been saying that same thing since late 2007, when gold was in the low $700’s.   Silver has increased as well since then, but on a much more volatile basis.   So I like gold on days like today, when some of my silver stocks (like SLW and PAAS) were down 4%  while GLD was up a bit in response.

You see, even though I don’t like to trade like a crazed jack-rabbit on meth, I am human like you, and I don’t like to see my portfolio roiled like an upset stomach at Coney Island.

I’ve got too many things going on, you see.   I’m sure most of you do as well.   I am seriously contemplating getting more physical positions here, just to cut down on overall volatility.   Something about that weight that makes one think less about trading, maybe….

In other news, today’s sell-off affords an opportunity to tippy toe in.  The PPT Crystal Ball of Courage tells me it’s time to wade back into the pool very soon, perhaps as soon as mid morning tomorrow.    There are many ripe tomatoes dangling on the vine right now.   Claim them before the clacking begins anew.

My best to you all in the coming days…

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Today was a warm and fulfilling Father’s Day.   I took the four offspring and their madre and her parents off to our traditional Father’s Day Lunch where we had a toothsome sup at our favorite restaurant complete w. sangrias out on the lanai. 

Then we followed that worthy repast with a late afternoon matinee (blessedly air conditioned, as it’s been over 90 for a week now).   We saw the highly acclaimed Toy Story 3 in “3-d” (sufficiently subtle that it did not bother my usually sensitive inner ear) and I can truthfully say it was the perfect Father’s Day movie, and just a great movie all around.   I might even pick up some DIS on Monday, so impressed was I by those Pixar geniuses all over again.

But this was a busy week, Father’s Day culminations aside, and none were more busy than the deep-mining dwarves of my portfolio that showered me with coyne (sic) even as I wheeled and dealed like a Soprano consigliari in Sinatra’s New York.

For those of you who think this recent market rip as a sign of light at the end of the tunnel, please disabuse yourself immediately.  You might as well ascribe the recent positivity to overzealous vuvuzallah (sp?) blowing as to positive economic news.

Make no mistake, this market is ripping on a combination of black smoke-sentiment rebound and fast money central bank printing.    As a result, stocks as a whole have risen, and my gold and silver plays (not to mention select platinum and palladium names) are looking Atlas holding up the world, but getting ready to shrug.

Last week I gave you RBY and BAA, which were up this past week 19.3% and 21.4% respectively. 

Yes, in one week.  And there will be moooore, on each, bless us both.

Even that damned elusive Pimpernel could not argue with those kind of results, but you must get them while they are hot, like slices of pizza thrown from the tenth story of important buildings.  

I don’t want to hear any complaints, either, as I illustrate my favourites (sic) which I have been recommending now for more than a full year of vociferous blogging.  

Remember my very favourite stock, SLW?  Well, it was only up a mere 8.5% last week.   But that only means you haven’t missed the entirety of the party.   In fact, I think it’s about to get started on the weekly here:

Then there’s my number two beauty, ANV.  It was also up a mere 12.4% last week, but I want to show you the daily on this one to illustrate the dramatic manner in which it made that increase last week.  Note how it, too, is approaching new highs?  Coincidence?

Maybe a little bit overbought on the daily, but that’s one you want to own for the long, hard times.  Weekly is a dream.

Then there’s my lovely EGO, up a mere 6.3% this week, but showing some appetizing possibilities as it too ends the week within a hair’s breadth of new all time highs.  Uncanny, no?  Check this daily out:

Some volume, wot?

Then there’s the grand-pap of them all, RGLD, which looks like it too wants to find new ground above $55 per share.  We may sell off a little bit of the last week’s 4.1% advance, but then we may just consolidate some of this overbought-ness and move on to new highs.    Let’s say I’m not selling any calls just yet:

That’s enough for now.   This should be an exciting week.  Watch the dollar index here.   If it breaks $85.00 here, as I’ve stated before, we could have some serious play in the fields of gold.   Keep an eye on CDE (up over 14%) and PAAS (up over 9.5% last week) for the silver stakes as well.

Best to you all.

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[youtube:http://www.youtube.com/watch?v=aqlJl1LfDP4 450 300]

Love this version….

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Going up to the territory of Monsieur Le Docteur du Fly for a couple of days for business that could very well shake the foundations of Finance itself..

Or barring that, I’ll at least grab a decent steak and catch up w. some friends.    Whatever the case, I will be “around”  these premises only sporadically as I cannot guarantee that my connections will be up to speed or that I won’t have all of my time accounted for whilst up there.

I’ll leave you with your rudders tied for the moment, as I think we may get a little bit more grinding into the Friday expiration, with the possibility of a last pop into that date after more muddling tomorrow.   The dollar bounced back very slightly today an ended in the lower part of it’s track for the candle pattern.   The golds, perhaps sensing continuing weakness in $USD are continuing to crank, almost in step-fashion across the board.

Today RBY finally took off as predicted last weekend, up over 5.5% today:

  

RBY looks like it may be finally launching off that consolidation of the handle.  I expect more this week.

 BAA — which took off right away on Monday as you recall — continues to rise, and has now completely recouped it’s 19% discount from the secondary offering level I’d mentioned over the weekend…. Recouped it… AND MORE.

As you can see on that weekly chart’s stochastics… BAA has a ways to go as well, and I believe it will.

I continue to see strength in my favourite stocks, which fills me with untold joy, as I’ve pallet loads of them.  SLW looked great today, as did ANV and especially IAG.   I continue to like EGO here as well, not to mention RGLD, EXK and PAAS.   Eat, and enjoy.

Best to you all, hope to speak to you soon.

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“Dollar Bill,” the Three Legged Horse 

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The formidable monster dollar days are as done as well oiled-Gulf cod, with a side of Pelican mashies.   The Euro may continue to break down and every paper currency in the universe could go the way of all tinder, but I do not think any of it will help our much abused dollar.

Nope, you see Bernanke caught that acrid whif of deflation over the last fortnight, and he knew exactly what he had to do.  And he did it — he opened lines of credit for crappy multinational and Euro banks to stabilise (sic) their burgeoning debt crisis.   He used our bucks to help sterilise (sic) bad Greek and Carpathian debt like it was mere Fannie Mae mortgages or something similar.

And what a time to do so — when the dollar was as healthy as a three legged horse in a horse amputee ward at the veterinarian hospital.   Heck, you might have even ridden that horse, were you forced too.

To the abbatoir.

So Bernanke saved all the legless horses in Europe with his three legged horse and guess what… the bill has come due and it’s stipulates right here in ten point Hellenic script: “more legs.”  

More legs down as the printing presses continue to fly and whirl and shuttlecock and do all things printing presses do whilst churning out fresh greenback, further diluting their wirth (sic) to one an all.   Note how in the weekly, we’ve got a two week breakdown in the works since our tumultous “third top” high back in early June….

As you can see $85.00 is my near term goal, and that should coincide with a nice spike in the overall markets (not just the PM’s though they should surely benefit too) after we work off the overbought high so adroitly noted in The PPT .   

You can see $85.00 makes sense on the daily as well:

$85 is very close to our 50-day EMA as well, which further reinforces that target as a resting point, if not a full rebound target.

What will happen as a result of this continuing dollar meander down?   I’m afraid that in the intermediate term, it’s bullish for the markets — even if only artificially so.   Luckily, one can better guard his well-earned profits by placing them in an operating company that measures its assets not in dollars, but in something more substantial.  

That’s correuct, “the precious” is just that substanital asset, and mining operators have that, and leverage too.

You know my favourites as they never fail to please… ANV, SLW, EGO, IAG, and PAAS for now.   Keep a firm hand on the best, and you will have ample “excess capital” to play with the rest, like the other evenings’ offerings (BAA and RBY).

Gun to my head best immediate picks :  TC, TCK, CREE, ANV and IAG.

Stay safe, my friends.

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[youtube:http://www.youtube.com/watch?v=DgwJJ3pXvOw 450 300]

(Appropos of nothing, really)

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I don’t even know why I attempt to suggest other varietals.   Is it the desire to be au courant?  The obligation to entertain?  Devil-may-care hair in the wind type stuff?

I don’t know, but really… it’s just plain silly.  There’s a single bull market at play here, and this is what we are about.   I had a bunch of positions take egregious losses today, most notably those in the “hot but not” LED space, like CREE and (worse) VECO.    POWR hung tight, but I can’t imagine that nasty Friday WSJ article will leave it be, either. 

I even took a small bit of VECO off today, in the mid-33’s, because I figured it would be a while until I saw that position back in the drivers seat.    No matter, as I bought more AGQ with the proceeds and promptly saw it rise a buck and a half (to $60 a share).  Is there anything more exciting than having one’s steed cut down from underneath one in the midst of pitched battle, only to find a stronger charger at the ready?

That is why I was not down today, despite egregiousity in the above names and even some other hard metals like TC and TCK.  It was all due to the gorgeous strength of our gold and silver portfolio.    I speak primarily of the silver miners, including SLW, PAAS, EXK, SVM, MVG, CDE, SSRI and HL.   But the gold’s included prized champions like RGLD, ANV, EGO and IAG, who were stalwarts too.   

Note how the $HUI index held up today on the weekly:

Am I wearing cats’ pajamas or is that thing looking like it wants $520?   You tell me.

Then there’s one of my favourites, ANV.   She’s just been a trooper since we picked it up just under $6 last year, and is seeming to have no trouble moving on three times that size.  Note that strong weekly consolidation?

 

And the daily looks just as promising, after a decent pullback:

Another promising pick, and one I should leave alone and go macrame a duvet, or something “crafty” like that.  God knows I’m only dangerous going outside my “comfort zone” in the PM world, and He surely sent me a signal today.

May be time to re-assess and de-stress.   Real money is coming back into vogue once again.

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That’s “Loin” not “Lion!” 

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We’re a little bit over a year into my tenure here, and we’ve probably had three or four “one of those days” days since I started. 

Today was one for sure.

This is life in the PM bull, friends, and we should be used to it by now.   I expect we are not fully shaken out, although that over 10% move in the $XAU index today might have scared some people off for the next decade or so.

That said, opportunities abound.   [[EXK]] was even up by the end of the day, and Silver Wheaton Corp. (USA) [[SLW]] filled two large gaps from the prior month’s work.  In hindsight, I likely should have taken the opportunity last week to sell some calls, as I’ve done in the past, but frankly, I was just too busy.   That’s why I choose to play long term secular bulls like the gold and silver markets, however, and that strategy has served me well.

So buck up Cowboy, and get ready for some more bull-riding, pleasant and not so much.   The good news is those with some dry powder can still grab some great names, perhaps as early as tomorrow morning.   I’ve mentioned Allied Nevada Gold Corp. [[ANV]] before (I also like Eldorado Gold Corporation (USA) [[EGO]] here), and you will remember this weekly chart from a couple of days back:

Note we’ve touched that trend line today, as I’d predicted.   We may do so again tomorrow, but that mid $17’s area remains a primo area to pick up some nuggets.  

On the silver side, besides the two I’d mentioned above, I think [[PAAS]] is still one of your better bets, and riding that weekly trendline like a refusnik on the potato line.  

Feel free to stop by here, or The PPT to discuss stocks and trends.  I’m here for you during the roller coaster times.

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