Monday, November 12, 2007

Charts on Gold, Silver, Kinross, Agnico & Silver Wheaton

I could go into a dissertation on whats going on with gold but suffice to say it is the ultimate liquidity in a world (especially the credit one) that desires it so. Margin clerks don't accept level 3 marked to model/observable imput assets, darn I wish they would have taught me that in MBA school. Regardless, be patient gold is having a good flush after a significant run higher. This is an ongoing long-term bull market in the precious metal. I look to accumulate on this weakness.
Beautiful island reversal here. Classic ! Silver is more volatile than gold hence the cleaner looking island. Shake out dead ahead.
Below are my 3 favourite names in the gold sector which I will be watching like a hawk but being patient knowing full well that these 3 "piano players" can get dragged off to jail with the bad girls when the brothel gets raided. Just such a raid has started.

Open Positions:
Long 3 units Ultrashort Financials ticker SKF @ $72.50 stop $72.50
Long 3 units Ultrashort Real Estate ticker SRS @ $81.50 stop $81.50
Long 2 units Currencyshares Japanese Yen ticker FXY @ $84.25 stop $84.25
Long 1 units U.S. oil fund ticker USO @ $53.20 stop 53.20
Short 1 unit Sears Holdings ticker SHLD @ $154.60 stop $154.6
Short 1 unit JC Penney ticker JCP @ $62.90 stop $62.90
Short 1 unit Citigroup ticker C @ $44.70 stop $44.70
Short 1 unit Amazon ticker AMZN @ $88.45 stop $88.45
Long 1 unit Int'al Coal ticker ICO @ 5.10 stop 4.64
Long 1 unit of Clean Energy ticker CLNE @ 18.85 stop 15.84
Long 2 units of Uranium Energy ticker UEC @ 4.67 stop at 4.16

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