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It’s not surprising that when gold and silver and the rare earth metals begin to take off, the other commodities begin to show perky life as well. “b

In one case, the “black gold” coal commodity play is beginning to take off again.   Consequently, I’m going to reintroduce a rocket that failed on me recently, but which I am willing to give another try given it’s action the last couple of days.  That rocket is the mercurial  PCX (Patriot Coal):

Who says I don’t like to pick the Patriots?  Heh.

Next I’m going to look at another old gold favourite NGD which has finally broken out (two weeks ago now) and is looking to at least equal old time highs:

 

Those more recent highs are at $14.  I think we consolidate there and get ready to dig clams immediately upon resumption of the up move.

My last chart should be familiar as I posted it just the other day.  It appears my call on REE at the $6.05 pullback was a correuct one  and now REE has broken resistance after a short consolidation.

 

Not quite sure how far this one will launch this late in the cycle, but I think that all the rare earth metals will continue to rally.  REE is one of your stronger plays in this space.

My best to you all, and good night.  I’m feeling zombie-tired and I need to store energy for the SuperBowl.

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It’s uncanny, isn’t it?  Jakerodamus provides you, just days ago, with predictions– like Rick Santorum coming in a very close second to Romney in Iowa– and poof!, that prediction comes true!   Recall also, that I predicted the same Santorum will come in a more distant, but still surprising, second in New Hampshire.   The rubber match will be South Carolina, which will force some sort of confrontation and quite possibly a mutual detente between those two leaders through the remaining primaries.  

What else did I say?  Oh yeah, something about gold, silver and earl, right?  So far, so good.

I’m probably going to bail on the ERX trade tomorrow, however, as I think we might get one or two more days of “jack” before that thing bangs against that $55 resistance and comes back down to fill that gap at around $47-ish:

 

 

I will also shave some NUGT tomorrow, although I think there are still some very good charts out there in the gold and silver, including AG, ANV, BAA, and EXK, and RGLD.  My little coal play, PCX also looks like it has some room to run, stochastically speaking.

To summarize, I am not ready throw the towel in on this grand first day leap, but I’m also playing “tight” right now, and keeping a keen sharp and wizened eye (of the sorcerer, Jakerodamus) on the dollar.  Make no mistake, the dollar will tell our tale here, good or bad.   If the dollar drops below $79.30, or if gold breaks above $1620, I’ll be adding again.

Best to you all.

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I put these charts together last night for you, but I was too wiped out to write anything in conjunction (I got home real late last night).  

Turns out that may not have been such a bad thing.   You’ll see what I mean when you see the charts.  

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Sometimes in the beginnings of a trend or cycle change, you can take advantage of some otherwise extremely risky pinless hand-grenade type plays that would otherwise be off limits to all but the most eyeball-sunburnt screen jockies.

I think this is one of those periods, and I’ve got two stocks for the “piker community” and a third for the Gentleman (and Ladies) of The PPT that look like apt candidates for some “follow fun.”   Not coincidentally, these three stocks were all up double digits yesterday, and two of them were up 20% or more. 

 Keep in mind that “pinless hand grenade” is a generous description of these little buggers, for if that is an apt description of biotech, then the apt description of this sector — the “rare earth metals” — is more like “loosely wired suitcase nuke with a broken clasp.”  Play very tiny if you choose to do so — for fun really, as your real meat will be carved from the husks of the gold and silver bears (Hellloooo Palo Alto!), and these should be considered nothing more than the most amusing of “amuse-bouches.”

First let’s look at QRM and check my buy and sell zones:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Note that I did these charts last night… and you can see that I thought that we’d run into some pretty immediate consolidation… which we did.  In fact, I thought this one would be a little bit easier as it had launched the day before off it’s 20-day EMA.  I figured that would provide some good support, post consolidation (the box area), but that one might want to wait till it launches once again (as I’m almost sure it will) past that boxed consolidation zone.   As I type this, QRM is trading at $3.02 with a LOD of $2.98.

Now let’s look at serious pocket rocket AVL.  I figured this one would have a nice sell-off this morning, due to it being up almost 24% (!!!) yesterday, and I was not incorreuct (sic).   Right now, it’s down almost 6.3% to $3.14 with an LOD of $3.11. 

Want to guess where $3.11 is on that chart below? 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Yeah, right about now I’m feeling like you can just call me “Neo” and I’ll stop all the bullets and the black suit guys for you with a wave of my hand.

But that shit never lasts so take advantage of it while you can.

Best to all.  PPT’ers look for #3 in the “Notes section” of The PPT.

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ah blah

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