No, Not That

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We’ve been talking about gold knocking da boots all through the summer and largely ignoring the August of Despair the lot of you have been whinging about for the better part of six weeks.   And, it is treu (sic) that Jake favourite (sic) ANV has been rocking the world since that bounce off the 200 day EMA ($16.00), closing today up well over 50%  from there at $24.48.    Sure, IAG and EGO have been ripping nicely along as well since that call.

But let me take a second to talk about the next best thing that you may be able to get some anticipatory positioning for…  And no, I don’t mean Christina… she’s already big.

I’m talking about gold’s stealthy, if annoying cousin, silver… which has been making silent steps in the last few weeks to join it’s more yellowy cousin.   Take a look at this recent medium term breakout in the metal price —

It’s a little overbought on the daily chart, but there’s more room to launch on the weekly, as you can see.   Now let’s look at a junior silver I like — EXK — which has been moving nicely recently as well.  Note, it has a similar “intermediate” target:

What’s nice about both of these is that we’ve got a nice “short term play” for you OTB degenerate gamblers, and also a very clear — and approaching — big time breakout opportunity.

It’s gonna be a great Fall for gold and silver ladies and germs… let’s watch the goalposts here to trade appropriately.

Christina had a great day today, as earlier tallied.   She still loves SLW the best of all the silvers, but PAAS and even SSRI looked good today along with friend EXK.  

Our new theme epigraph — Get gilded, or be gelded.

Best to you all.

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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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[youtube: http://www.youtube.com/watch?v=uE-1RPDqJAY 450 300]

The Techno Classic

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It’s late and I just got home.  Burning the candle on both ends is probably not the best idea for your trusty Jacksonian surveyor, but I think we are coming into a critical period that may require some re-enforcement for loyal plebs seeking to make sense of this dollar killing precious metal market.  Therefore I post…

Silver is beginning to make great stirrings in the market and in the loins of pit traders across the globe.  Interestingly, the metal is still lagging some of it’s more accurate pre-indicators, specifically, it’s publicly traded miners.   Among the finest is that of SLW, whose weekly chart reveals that it has broken to new highs:

It appears SLW is just now breaking out to new highs in the weekly, and may have some runway left, stochastically speaking, even as it approaches oversold conditions.

The underlying metal, however, illustrated here in the guise of the widely held ETF,  SLV, seems to have much more potential momentum in front of it.   Look at this weekly:

 

In short, I would not be short silver or the miners here, and I would be looking at those resistance lines as a key to my adding regimen.   If the above lines are broken, then I believe the remainder of the silver miners will begin to show the same kind of new high action we are seeing in the high quality SLW right now.

Again, to reiterate, I am talking about PAAS, EXK, MVG, SSRI and even CDE and HL here.  Watch these in conjunction with the chart above and with Papa SLW, who will continue to lead the way.

My best to you and your mithril mail shirt assembly’ing.

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[youtube:http://www.youtube.com/watch?v=NrG4g6yNLJU&feature=related 450 300]

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“Catch the wave and you’re sittin’ on top of the world…”

— Emperor Leto II,  Atreides

Yes, Pop was quite a surfer wasn’t he?   No matter, today’s walk back in nostalgia-land is brought to you by the good dwarves of Moria who remind you “There’s no better time than late August to stuff your goody bag full of shiny robot parts, preferably made out of pure gold and silver.”

As my dear friend and father of the Mentat, Johnz Hopkinz, M. Le Docteur Le Fly likes to say, “To every time there is a season, etcetera, etcetera, Peter Cetera.”

And this hear is the season, young plebs, to stock up on your favourite gold and silver plays.   Today, I banqued mass coinage on AGQ.   I plan to take that trip to at least $70, and moooah.

But the real play here is in the Jacksons of choice — the silver goddess, SLW, its slower little sister, PAAS, and the robust brotherhood of the three middie golds — ANV, EGO and IAG.

If you are of sound mind and body, you might want to spartaculate on even smaller stuff like GSS and BAA and EXK and RBY.   These are all considerations for the coming weeks and months.   Personally I try to own “one of everything” at least.

You never know when you will see extraordinary action out of such crazy outliers like VGZ.   This is why I try to keep an inventory.  If you haven’t the patience of the pocketbook, GDX for the bigs will do, and GDXJ for the smaller names.

Even the execrable TBT seemed to turn today.   I did not add, but then, I’ve got plenty, and I’m happy to support your bid by never selling.  Your welcome.

Be on the alert for my top calls tomorrow and going forward.   The Lord God Emperor has decreed a moratorium on bullsheet currency.   Only true money shall prevail from this point on.

Best to you all.

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It’s not been a bad ride for ANV since we last talked about it, has it?  Well, all good things must come to an end… or at least a temporary pause, no?

And I expect that’s what we’ll be coming up on in ANV as early as tomorrow.  I won’t be selling any of my Smaug-horde, but I may very likely sell the calls in the high $21 dollar range.   If you got on board when I alerted you to the 200-day touch you’re up over 35% right now, and I should think that’s not a bad ride for less than a month.

You can see we’re approaching some pretty serious oversold levels here in this recent chart:

I will likely do the same for SLW, EGO and IAG as well, and I will reduce my AGQ levels too.   Some of my smaller positions, like FRG (also a huge winner today) and RBY may get trimmed as well, but most I will just leave to gestate further in the womb of this great gold bull, which I think will resume soon after this pull-back.

BAA — the chronic underperformer, comes to mind as a something about which Mother Mary whispered right in front of me, “Let it Be, son, Let it Be.”

Or maybe that was the Raven quothing “Nevermoooooaah!” 

Whatever.  If you really have the hankerin’ to buy something tomorrow, why not try that perennial Fly favourite and crusher of all things Broadcom — ENTR?   Note, you may recall (and certainly the fine gentlemen and ladies of The PPT know this) that I added to my pile on this the other day at the retest of the original breakout?

Not that there’s anything to all that crazy chart-chompin’ stuff.

Best to you all.

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Sometimes we are dealt a great hand. It’s important to endeavour to make good use of it “whilst the sun shines,” etc., etc., but it’s also a great excuse to reflect on personal responsibility and even gratitude.

There’s very few of us who visit these here internets who are not hard working and deserving of well-earned success.   There’s nothing wrong with assaying how far you’ve come as a result of personal sacrifice, ingenuity, and sweat equity– and, correspondingly–nothing wrong with giving yourself an attaboy (girl) for sticking it out and getting it done.

As long as we realize that’s not the primary goal.  

We’re here a short time, and there’s plenty to do.   Staring into the sun or the mirror are equally useless activities, albeit harmless if performed in small doses.  

Better for you in the long term, however, may be this prescription — if you’ve climbed the mountain, you might think about what you can do set the next schlub up to do the same.  

After all, just from a strictly aerobic standpoint alone, there are plenty of mountains and plenty of schlubs out there to keep you busy.

Beats golf, anyway.

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I did finally end up getting some TNA today, albeit late.  I was running around in meetings this morning and missed the open, so I waited til almost 3 pm and got in at $36.18 and $36.28 — a full dollar higher than the open, which is where The PPT told me to get in.  

Lesson learned — never second guess The PPT.

I also increased my position in ENTR by a bit at the dreadful number of $6.66.   I will try not to read into that one too much.

You know what happened with silver and gold.   ANV in particular was really looking good.  Let’s not gloat.

Best to you all.

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