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Did you know Maxwell’s Hammer of Beatle’s fame was an autopsy tool?

Do you remember what I said the other day about my second favourite (sic) dollar hedging silver pick [[EXK]] ?

I’ll be getting more tomorrow —

 

You see it using that 20-day EMA as a trampoline?

Want another?   Remember Silver Wheaton Corp. (USA) [[SLW]] ?

Why muck about with ball-peen hammers to the head, when there’s pretty silver that can do the job that much more stylishly?   You know this is my Stock of the Year pick at RC’s blog as well, no?  

 Nine year secular bull market, breaking out again.   Can you imagine the odds?

 

Also — Keep an eye on [[TBT]] here as well, folks.   It tested the breakout again today, and is looking good again.

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Should we expect more of the same in Day Two, 2010 trading? From a strict momentum standpoint, one would expect some follow through from yesterday’s move, despite the fact that it was a relatively “bleh” volume day, considering the move. And as you can see, we still have some room to go to retouch our [[VIX]] support line mentioned this weekend:

On the other hand, the dollar dropped precipitously yesterday (take a look at the move on the Relative Strength Index (RSI)).

If that continues, all bets are off, and we may be on our way to another devaluation based run-up.   Note, however, that we bounced off the 20-day EMA and filled a gap yesterday.    As I’d mentioned, if we stay above the $2.90-ish area, then I think the dollar strength story is still in play.  

If not, and the dollar continues to depreciate (as it must under this kind of pressure) then our one solace is the Year 2010 picks will be cracking as much as they were yesterday.

Semi-much to my chagrin, as I expected to pick them all up a lot cheaper.   All, that is,  except [[TBT]] , which I think may experience further strengthening, no matter what kind of equity market we see going forward:

TBT’s off about one percent as I type, so it may be a nice time to dip your beak, so to speak, with an easy stop below the 200-day EMA ($49.30) or even better, the 20-day EMA ($48.90).  

Good luck to ye all.

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[youtube: http://www.youtube.com/watch?v=rMjAf8Nwohs 450 300]

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No, I’m not speaking of Mssr. Le Fly counting his Broken Robot Coin in his Counting House, whilst tossing flaming egg-nogs at his trader servant, Mssr. Le Cratchet.

I’m talking about the classic The Year Without  A Santa Claus double production numbers from those brothers of Sun and Snow, the Heat and Cold Misers.

This piece is actually a cover by Big Bad Voodoo Daddy (an RC favourite, no doubt).   While I prefer Dick Shawn’s Snow Miser in the original version, I have to give the overall production medal to BBVD, as they are large, bad, magical, and also your father.    Besides, Heat Miser is a mite too drag queenish in the original…

As I suspected, after a month’s worth of work,  the market [[SPX]] tipped over the 50% fibonacci line today at $1121.50 or so, and is now seemingly out of the box like a busted robot and headed to $1227, where awaits our Golden Ratio of 61.8%.   As I’ve mentioned, I think we will eventually get there, but not before a pullback, which could be quite gland-challenging.  

With [[TBT]] breaking out quite convincingly here, equities have been put on watch that their discount rates will continue to increase.   As well,  the dollar pullback, as shown by DXY and [[UUP]] today has also been de minimus.    Maybe all the rules of finance will continue to be suspended in honor of Santa and Rudolph, but I wouldn’t bet my Christmas gelt on it.   

That’s why I haven’t yet jumped in the molten gold pool yet, either, as appetizing as Royal Gold, Inc. [[RGLD]] and Silver Wheaton Corp. (USA) [[SLW]] are looking today.   I could be wrong, but I don’t think the dollar is done shagging with us yet.   No real worries, though, my Pagans.   Santa Ben will soon take up his ink stamping device and all fans of the continued mass portraiture of the Inventor of Electricity will be appeased.

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May all your families have a Merry Christmas and Happy New Year, even if it may be Pagan, or whatever.   It’s all about the kids, and what you make of them in the end, anyway.  

Best to you all, and thanks for your well wishes and support in 2009.

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Bonus Clip, Humour Division:

[youtube: http://www.youtube.com/watch?v=X6yUCbqAGrg 450 300]             

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Remember, don’t ask for any bullshit cawfee machines, kids!

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Sawry, I just got a bunch of deal docs dumped on me at the end of the day, so I haven’t the time to defenestrate lefties or argue the merits of very tiny disposable instant cawfees.  

You’ll just have to make due with two interesting ideas that popped up today.   Overall, I still think we’re just about to roll over, but that doesn’t mean you can’t corral some cheese goats in the meantime.

First chevre du fromage is [[TBT]] , which seems to be indicating that — sovereign debt crisis be damned — US Treasuries are not exactly the bargain of the year, ovah heah:

A little bit overbot in the RSI, but one to watch.   Next stop, the 50% fib at $50.27 or so.

Besides our PM’s,  TBT is one of the best defensive stockso to hold for the coming currency dump.

Next, titanium producer RTI International Metals, Inc. [[RTI]] which I’ve owned off and on in the past, but own none right now.  I think the commodity play will be on in full force later in the year, but I also think steel is moving early:

 

Ciao, bella.

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Diving for Real Dollars
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Yes, yes, you’re making Scrooge McDuck sized gains these last few days and you’re beginning to get all slack-jawed and drooly thinking about swan diving into your treasure pile of gold doubloons and ruby-encrusted silver chalices.

If you’ve been following along gamely, I’ll allow you that brief indulgence.   Swim away, just be aware that those Kruggerands have sharp, ridged edges and they can nick your hammies in mid-backstroke.

Let’s not forget, however, that this blog is first about preservation of capital.   We invest in hard money assets and companies because we believe the Fed is bent– like an emaciated goatherd preparing to skin and stew his last kid —  on destroying the currency.  

One way that’s skinning is going to show up is in the eventual destruction of [[TLT]] .    For that reason, [[TBT]] is a Jacksonian Portfolio pick, and the only Double ETF I allow within those hallowed halls (though I love [[AGQ]] like Mrs. Jake loves an after-Christmas sale).

To my delight, it looks like [[TBT]] is “ready to rumble” right along with the rest of his Jacksonian colleagues:

[NOTE: My StockCharts machine is not working properly for me, but the narrative is TBT has gone:
1) Back through the 38.2% fibonacci
2) Through the major congestion finger by price & volume charting; and most important
3) Through and retested the recent downtrend line]

I will get that chart up as soon as I can wrangle it. Salud.

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Addenda:

[[BIOS]] looking to break $8.00 with the vengeance of a Blogfather, ovah heah.

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Yer Late, ya bastid!
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Things have been ripping around here, as the overstretched band of “no bidness” that plagued us for the first six months of the year has snapped back with a vengeance to “too much bidness.”

I am not crapping you, we are hiring right now, as we just hauled in about five new deals in the last month.   Now I’ve got to actually execute them which is going to stretch me thin all the way into Christmas.

Luckily, my portfolio is largely set.   I will nacker about here and there, but you know my thesis of “Baby $HUI to the Christmas Tree,” ovah heah, and I shall not stray much from it.

Right now, one of my favourite plays — Silver Wheaton Corp. (USA) [[SLW]] looks to be ripping into the close, and the price of silver ($17.71 right now)  is hardly wavering even as the price of gold takes a mini-step back ($1,049.00).

Remember that Allied Nevada Gold Corp. [[ANV]] target fibonacci extension I put up a few weeks back after it’s breakout?  I said it would hit $10.70, remember?  Well, that worked out well, as it’s there and past, and I would look at that $10.70 area as a nice place to pick up some more shares of ANV, which is quickly becoming one of my favourites (sic)  — Jacksonian even.

Last, my beloved, if neglected Jacksonian stalwart, [[TBT]] .    I still own a metric shit tonne of this, even though I sold a bunch in the high 50’s some months back, thinking I’d buy back on a retrace. 

 Well, I was waiting for it to hit that $44.90 fibonacci level we had discussed, and it breached even that  so I said “ok, I’ll wait.”

I should have just bot some there, or at least averaged down.   Now, I’m doing a bit of a chase, and will attempt to refill my love gourds on a subsequent (hoped for) pullback to the $45.50’s area.

That is all for now, but if you want to discuss specific charts, I can throw them up this weekend at your request.  

Back to the salt mines.

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