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The Louisville Cards went down to the infamous Junior NBA Team on Saturday evening and I have only recently discarded my widow’s weeds of mourning.  I have not neglected you, however, as my heart and my long term picks remain with you, even when my corporeal presence is otherwise occupied.

As for today, it seems the U.S. dollar is doing it’s usual plungerooni below $79 again.  When it breaks $79.60 with vigour (sic), please call me.  Until then I will be eyes forward on all of my “X” play metal picks.   Of particular interest are the siblings XRA and it’s offshoot XG (or is it the other way ’round? No matter).    XRA is currenlty up 5.5% at $2.89, and XG is up over 3.6% at $6.26.

My other X-play is on the silver side — EXK, my old favorite, up 3.8% at $9.86 this day.    For lotto type picks, I continue to recommend the accumulation of BAA and AAU, both also up today to varying degrees.  

Last but not least, let’s not forget the rare earths.  I know they are frustrating, but you will kick yourself if they take off without you.  Besides MCP and REE (the more grandfatherly of the bunch), I continue to nibble on AVL and QRM.   As always, remain cautious.  Any rebound in the dollar will negate all this good stuff, and signal us to lighten our loads.

Best to you all.

 

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[youtube:http://www.youtube.com/watch?v=IA8QrOAghZ0 450 300]

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I started selling some of my QLD horde today, only to turn around and plow those winnings into more AG, SLW and EXK.

Why silver?  Mostly because the happy silver mining family was bludgeoned like a prize veal on the night before the St. Anthony Festival these last few weeks, and I like the reversion to the mean theory — no matter how temporary that reversion might be.

You know I started accumulating the PM ETF’s,  GDX, GDXJ and SIL last week in order to capture some of the rebound that I saw coming from that sector.  Well this week I will concentrate more on individual names like the above in silver and RGLD, AUY and ANV in the gold mining sector.  I might also dabble in those insane brothers XG and XRA.

Just to give you an example of what I’m seeing here, and why I think there’s still a lot of room in these PM names, here’s my markup of the EXK weekly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Note how last week the price bounced off the long term trend line only to leave that long tail in a hammer?  And note also how most of the stochastics are headed north once again?  I am seeing that in a lot of these names.   Again, it can all change on a dime in no time, and believe me, I will be ahead of you, elbowing you in the chin as I run for the exits if it does.   But right now, the dollar is on our side, and the momentum is coming back to these names.

Let’s have some fun while we wait for the deluge, shall we?

Best to you all.

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For the Bubble that took down the Economy?

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I stayed in Silver and her miners  today because all of my charts are telling me we are still in the early stages of a liftoff in those miners.  The golds on the other hand are a tad more stretched.

As per my announcements in The PPT, I took some profits in DGP, NUGT, IAG and XG today as a result.  I still have plenty more, but wanted to build some cash for opportunities.

Best to you all.

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First, let me tell you that I am a happy and contented boy this evening. You know this PM game.  Heck, even Le Fly asks me at times how I deal with the convulsions of this lightly traded, lightly regarded sector.  Sometimes it’s not very easy, as you all know.

But the irony remains.   Despite the tremendous, gut-wrenching, teeth swallowing, soul-crushing volatility of this sector, it’s the only one to be in a bull phase over the last ten years.   True, we got a serious “blip” when the whole market folded in late 2008, but that was truly a liquidity-driven event,  separate from the fundamentals of the space.  What’s more, that down-draft was the trading opportunity of a lifetime.  I still own a good portion of the SLW I picked up under $3.00, and that was just one of the gems I found abandoned on the ground in January-February 2009.  You know the story of the Jacksonians from May of that year, when I first started blogging.   Those positions are up hundreds of percent, and I had bought them months before.

Enough idle boasting about the past.   We’re talking about good feelings today, but we’ve endured scars together too.   We’ve undergone a dreadful PM pullback, one that cost me over 15% of my portfolio value, even with cash-outs.  But I’ve been waiting, very patiently, because I had no doubt this bull was not over by any means.  And today I think we can say that at least in the near term, “the coast is clear” for further miner purchasing.   And I plan to make up for lost time as well.

First, let’s see the good news on our friend Baby $HUI:

Given that many of my “in-house” miners– Jacksonians and high flyers like EXK and AG have rocketed up on an RSI basis in the past few days, I think it may not be the best time to buy tomorrow.  This is true as well of my PM Stock of the Decade— XG,  or Extorre Gold Mines. which was spun off from parent company Exeter Resources (XRA)  at the barely substantial price of $2. Yes, $2, back in late March of 2010.   Look at this beautiful company today, a scant 16 months later…

Look at the charts of the strongest Jacksonians and you will not even see the equal of XG.  It was the one precious metal stock in my entire portfolio that did not see a pullback of any substance over the last three months.   That in itself is significant, I believe.

In the meantime, do not be a horse’s ass and buy this tomorrow.  Clearly, it’s overbought, probably because it never got oversold, like it’s poor compadres.   I have indicated above the place where I’d like to add.  And yes, I already have a shitte tonne, but there’s always room for pie, right?

Most stuff is overbought here, but on the radar for tomorrow are some small jumpers — MGH, BRD, AUQ, NXG, CGU, AZK. I also added to my GPL and AXU hordes today.

Best to you all.

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[youtube:http://www.youtube.com/watch?v=nLJ8ILIE780 450 300]

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No time to indulge the chicken livers now, lads!

That’s right, buck up, stiff upper crumpets and all that.  Cheerio, wot?  Seriously, silver has broken back over $39 this evening, and if that number holds, I think we see further retrace into next week. Gold is also doing quite nicely at over $1520.

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Tomorrow’s top choices… XG and BAA.

Sure, they are obscure, but so was Jude, and look at that great song the Beatles wrote about him.

Also, the rare earth metals are being purchased again.  Yesterday MCP was getting big “buying on weakness” attention.  I like AVL and QSURF here — especially the latter.

Best to you.

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

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Apparently, crack U.S. Special Forces stumbled on JP Morgan’s “lost tonnes” of silver bars whilst cashing in our un-paid receivable with now soundly-dead Osama Bin Hydin’.  This seems the only plausible explanation of the coincident 10% drop in the price of silver last night right as the news of Osama’s involuntary cranial ventilation was breaking. 

Kudo’s to President Barack, by the way, who appears to have begun smoking some of that Bushitlerian war-monger crack and can’t seem to get enough of the rock.   In other stunning news, the vicious San Franciscite anti-war harridans of Code Pink have summarily renamed themselves “Code Ah, It’s Okay,” while long respected gold star mother media queen Cindy Sheehan has unveiled a new website in honor of her President’s recent actions called “If-It’s-Brown-Shoot-It-Down.com.”

Whether or not PETA President Ingrid Newkirk’s newly sponsored Western Kentucky Squirrel Hunt/Democrat Fund Raiser and the Sierra Club’s latest bumper sticker “Yellowstone is for Coal Mining” are further evidence of a sea change in liberal sentiment has yet to be determined.

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Despite silver’s no Chinaman low volume sell-off last night, it appears there’s little changed in the direction of the dollar.  What’s more, it looks like gold isn’t even taking the temporary detour that earl, the CRB and silver took last night upon news of Osama’s fatal lobotomy. 

Now I’ve told you about silver being waaaay over it’s 200-day EMA, and that’s why we were switching our focus to gold for now.   This sell-off, however, may give  you an opportunity to play a couple of broken silver miners.  You know I like SLW and EXK the best (both of whom look to be off at least 5% in pre-market), but I also think AG is “catchable” here, (I still have low bids in on that one) and even AGQ may be a play, if an extremely short term one.   Only mess with that last if you are determined to watch it, because it should be swinging big here this week.  Right now it’s down over 10% in the pre-market, which is too much.

On the golds, I continue to like AAU, RGLD and XG.  Also, watch IVN, which has call sellers betting against it, but which could short squozen at any time.

On another note, it’s Derby Week, so I will be trying to talk a little bit about the ponies for the fans.  Do recognize, however, that this is one of my busiest weeks, so let’s keep the comment section hopping and I’ll try to reply from the Crack wherever I may be.

Best to you all, and Happy Osama is Deceased Day!

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