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Sublime Beauty Clears the Head, No? ( And Dig Larry Kudlow on the Fife)

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On vacation and feeling only slightly more put off than usual by the usual cynical sniping on these fora.   I’d thought we’d put these AGW hand wringers to bed when their entire academic conspiracy was blown some six months ago at it’s corrupt heart in Merry Olde Englande.   But no, some control freak Big Gov’t types don’t even know to fold when their pair of deuces is called and found wanting.  

So be it, I won’t let the teeth-gnashers ruin this generally good mood I’ve been in, despite the real threats to our economy and freedom in these United (still) States.   For myself, I am going to continue banking on — and banking coin on — the ingenuity and innate elasticity of the American people, despite the embittered natterings of the “entitled” ignoranti who believe they are owed a living. 

But enough of that.   There are two stocks I believe are set to continue making outsize gains in the coming Bearcaploypse Now.   The first with which you are well familiar — the much discussed ENTR.  

It has not been taken the pounding so many did in this recent pullback, but you can see that it touched support last Thursday and now seems poised to finally break that $6.75 barrier.   Fly will get you ten this thing goes to $10.

The second near termer is the little brother to fast walkers CREE and VECO.    I think POWR has been consolidating nicely on this weekly chart while staying with it’s trend.   I like it to pop with any post – Fourth fireworks this week.   Look for new highs here, too:

You should use that trendline as your guide.  We very well could drop down to the mid $8’s here again, but I think that should present a nice opportunity.

On the precious front, I continue to love ANV and SLW here as the strongest launch contenders out of this pullback, but RGLD may be the cheapest value play of them all, this far below $50.   Your call, I love ’em all.

Be well, and take courage in knowing that even dumb left-leaning governments can learn, as the Ozzie’s foolish decision to tax their greatest exports and economic engine (their mining sector) was recently diluted by 25% (from 40% tax to 30%).   Only 75% more to go….  (eye roll)

Best to you all… I shall be checking in sporadically during the day, as my B’berry access will be limited this week.

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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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[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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Yeah, the dollar is up, but so are the precious metals, so go figure.   It’s not often you see [[UUP]] riding an updraft right along with it’s mortal enemy, real money in the form of [[GLD]] and [[SLV]] .  

What’s going on?  Well, I’ll tell you what I think and it’s just a theory… but I believe the Euro is headed for a bad night with the Reaper, and all the printing presses in Frankfurt are better off producing saurkraut than Euro-denominated debt to back this Grecian salvage job we saw today.   

I’m getting major deja vu, ovah heah, and maybe you are all a tremble with it too.  Remember when the gov’t stepped in and demanded that Jamie Dimon save that piece of rat’s offal, the Bear Stearns Company?  And then soon after, it became impossible to save Lehman Brothers in turn, despite that latter bank’s greater importance to the capital markets’ zeitgeist?

Well, I’m thinking we are going to see the same here with Spain and maybe even Portugal and Italy lining up at the Eurotrough, if this most recent Moral Hazard Play works it’s way out in similar fashion to that of our own Wall Street bank collapse fiasco in 2008.  

 I mean, why stop at Greece?  That is, unless you have to?

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That said, there are havens of safety and they are in the leaders.   One such King Kong in the precious metal space is Allied Nevada Gold Corp. [[ANV]] , which I’ve loved since it was a little $6 stock, barely in knee pants. 

 For the love of Uncle Mike, why don’t you pay attention to my picks like this one?  Do I not provide enough excitement with these double and triple baggers over a 12 month period?  Ah well, it’s not like I haven’t been eating my own pudding, right?  My gosh, take a look at this weekly chart:

Yes, that’s pretty much “free air” you are seeing in these current climes… marked by very little resistance.   I’d love to see this beauty taken out by one of the acquisition-minded bigs, but I’m content to sit on my gains and allow them to continue to accumulate, no mattah (sic).

Speaking of charts that look like Cree, Inc. [[CREE]] look at CREE, again, and don’t forget about the monster move Veeco Instruments Inc. [[VECO]] made today.  Make no mistake, these companies are going to be the new tech leaders, much like the Microsoft Corporation [[MSFT]] ‘s and Dell Inc. [[DELL]] ‘s and eBay Inc. [[EBAY]] ‘s were in the techy past.   You should be content to accumulate these plays, along with such other long term targets like Royal Gold, Inc. [[RGLD]] and Monsanto Company [[MON]] .

That’s what I’m here for… the long term stuff and the stability.   Not overly exciting, but a great deal of solid companies, doing the best in their fields.   Now go on, get.  There’s probably some teevee on, or something…

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The gold and silver and even platinum plays have been taking off with very strong relative strength these past weeks, even in the teeth of the Goldman Doom on Friday.   Now that it looks like Greece is going to get bailed out to the tune of $150 bn drachmas, or cowchips, or whatever they’re using for currency in Europe these days, I would bet dollars to doughnuts we’ll have a sell the news dollar reversal here soon, which will mean even more money flowing into the precious metal bull in the short term.

But we’ll save that for another day… you’ve plenty of names to consider from last week, and we’ve got other hard asset plays to speak of… particularly those in the Corn Belt, or who create notches therein…

Specifically I’m speaking about our old friend Mr. Anderson: The Andersons, Inc. [[ANDE]] , who has skyrocketed recently to new 52 week highs, only to be brought back down to the top of the breakout area on Friday:

You can see there are three bars of support in the above chart, one of which we rest on as of Friday’s close.   I feel more comfortable with a pullback to the next (middle) level at $35, and that’s where I’ll be adding to this Jacksonian beauty.  

I think we should be keeping our eye on the other ags as well, and while I’m not going to post the ugly chart of Monsanto Company [[MON]] I will tell you that I added another 1k shares to my already large horde at $63-ish on Friday.   As I’ve mentioned before… like Royal Gold, Inc. [[RGLD]] ,  Monsanto is a “set it and forget it” type of long term hold, and if I can find it in the low 60’s like this, I’m going to be a buyers for sure.

In other news, I did attend the somewhat rainy Derby (but was under cover, thank the horsey gods) and had a much better day than the Oaks, nailing an exacta box bet on the Derby itself, and coming away with quite a bit of cash, considering how pikerish my bets remain.   Derby is defiinitely something you’ll want to consider if you are a “bucket list” kind of guy/gal.    For what it’s worth, I’ve never NOT had a great time, no matter the weather.

My very best to you all.

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