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Of my favourite (sic) PM positions there are quite a few that are “almost there,” for an optimal buy, according to my weekly (ie, “long term”) reviews.

And then there are two that I like for tomorrow. They are PAAS and ANV. I will look to add tomorrow morning. There are a couple that may need one more day (and it may not even be a full day) like SLW and EGO. If you can get RGLD below $43, you are one blessed by Fortune.

As for “rippers” that will be taking advantage of any continuing up move in the regular markets, CREE and VECO, the LED twins, are taking off again. I expect POWR will be not very far behind them.

Attendez!

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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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We may get some pull back here in the golden markets, as — ironically — the dollar declines and the Euro strengthens. This reversal would be a sign of diminishing panic, and may be taken as a cue for traders to offload some “bunker assets” like gold and silver and lovely platinum, the precious platypus of heavy metals (much like the late Ronnie James Dio, R.I.P.).

But as I said to a faithful reader today — do not forsake the bull for the distress of  an uneven ride.  Bulls can be ornery and force one to pour over the Yeller Pages for the solace of a chiropractor, but they are in the end, powerful avenues to wealth for long term trend traders. Until much further notice, we are in a PM bull, and all eyes should be focused on the quality names.

As a result, I must fall back to Allied Nevada Gold Corp. [[ANV]] again, despite their recent capital raise that has their stock back on it’s (round) heels. Still the weekly path could be no clearer here for those still waiting to participate:

The daily is a little more hairy but describes some nice entries.   I like the 20-day here ($18.64) , but only if it holds like it has been since March.   It’ll be worth waiting for, I think.

On the silver side, I liked [[EXK]] ‘s action today, but I still love Silver Wheaton Corp. (USA) [[SLW]] for the long haul.   Here’s a look at the weekly chart and SLW’s quest for a more tolerant planet:

And here, again, the considerably uglier daily chart, which I believe is still under voice-command until further notice:

In short, I think opportunity will be knocking soon, in it’s best Vince Sham-Wow “Limited Tyme (sic)” pitch guise.   There will be others (for example Cree, Inc. [[CREE]] and Veeco Instruments Inc. [[VECO]]   who shined through today) but these are my two current foundation plays.  

I am leaving Royal Gold, Inc. [[RGLD]] out only because it’s a different royalty animal, but I’d get any of that that was available as well, should we dip on the PM side.

Stay strong, despite the mugfuls of black charnel soap bubbling in your Campbell Soup Kids’ cawfee bowl.

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Bring your sack, the LED leaders are marching forward with their grapes of wrath unfurled, and you want to be in that number, lest you take the hard edge of me terrible swift sword.

Hmmmm…. I think I feel an anthem coming on… bum-bum-bummmmmm…. nah, it’s passed.

I don’t mean to boast idly, but I was up 4.2% today and not, as you might believe, due to my precious metal portfolio alone. Make no mistake, those names were up nicely today, with Allied Nevada Gold Corp. [[ANV]] ,Rubicon Minerals Corp. (USA) [[RBY]] , NovaGold Resources Inc. (USA) [[NG]] , [[BAA]] , Exeter Resource Corp. [[XRA]] and my baby Silver Wheaton Corp. (USA) [[SLW]] leading my dogpack of precious metallicas like a dogsledder seeking Siberia from Alaska.

Others in my port, however, were up just as — or even more — handsomely, with the “3 T’s” racking in large horde — Thompson Creek Metals Company, Inc. [[TC]] , Teck Cominco Limited (USA) [[TCK]] and benighted Titanium Metals Corporation [[TIE]] rocking worldviews, and even Sud Ameriquan lithium developer Sociedad Quimica y Minera (ADR) [[SQM]] rebounded well today. Crazy Central European Distribution [[CEDC]] has finally woken back up, and Trannie King United Parcel Service, Inc. [[UPS]] looks to be leading the rebound with the Transports.

Nothing seems to lead these markets like the LED stocks, however, and I won’t rest until M. Le Docteur de le Fly is invested in the two leaders Cree, Inc. [[CREE]] and Veeco Instruments Inc. [[VECO]] , who have become the spokesmodels for Woody’s “relative strength” in this post-apocalyptic age.

First, note the Cree, Inc. [[CREE]] weekly, and slap yourself in the head for missing this opportunity:

I’d like to see that weekly volume bar increase as the week goes on, and I believe it will, especially when taking on the daily view:

The 20-day had held support for a while, so a launch back above it should be encouraging.  I  (luckily) added 2k more of both CREE and VECO last week as I had “low-ball” (heh, right) buy orders laid in that took advantage of the downdraft.   These two are a large part of my gain advantage today, and I think they will continue to lead.

For all the relative strength shown in Cree, Inc. [[CREE]] , check it out in Veeco Instruments Inc. [[VECO]] below… surely this is one of the strongest stocks in the universe right now, no?   Lay in wait, but do pounce as I have:

Stay on your toes, and be nimble, but I don’t think this liquidity wash is over  just yet.   Stay safer by grabbing tech leaders like the LED-ers, and hard money targets.  Everything else is suspect, and should be eschewed indeud.

Best to you all.

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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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Everything’s breaking gizzards these days except [[TLT]] , so why not get exceptionally “outre”  in your picking and “dabble in the exotics” as they say down in Derby Land? 

By “exotics” I don’t mean trifectas and daily doubles, but rather palladium and land banks in the form of [[PAL]] and The St. Joe Company [[JOE]] , respectively.

Truthfully, these aren’t exotic at all, and are ony further reflection of the deranged printing press inclinations of Sir Ben of Bern-yankee.  Why do you fight the Fed?  Why do you do it?  Rather, you should be buying palladium dogs like Stillwater Mining Company [[SWC]] and investing in Florida real estate that won’t be developed until the Baby Boomers are all safely in their crypts.

No worries, they are breaking out, and that’s all that matters in the end, no?  Come see [[PAL]] and then Joey.

 

Then there’s Mr. The St. Joe Company [[JOE]] , who’s really punched the number after breaking out of that long term downtrend line I pointed out a few weeks back.  How may of you took advantage?   Propitious that this is the season of Doubting Thomas, no?  

Here’s the line — “hard assets are moving again,” because the currency is dropping out of sight.   If [[UUP]] continues to drop, these are two more weapons for your bag.    Keep them secret, keep them safe.

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PS — Don’t forget about Cree, Inc. [[CREE]] and Veeco Instruments Inc. [[VECO]] even though I sold some of my exposure in these the other day.   These are “put away for the long term” stocks (especially CREE, which is best in class).  Same goes for recently beaten upon Monsanto Company [[MON]] .    Take this hammering in stride and nibble vociferously.  Long term, there’s no one who can match their IP assets.

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