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David Hockney: A Bigger Picture

Here's the link to a highly recommended preview of his current show "A Bigger Picture" at London's Royal Academy of Arts that includes the man himself talking about how the exhibition came to be. And here's an example from the show.

Good to see that there are still real artists left in this world and the idiot money fringe hasn't taken over entirely. Three cheers for Hockney.

Five days of metals and miners: Jan 21st

This is becoming a regular thing (which isn't bad), so lets see how many weekends pass before I forget to put this chart up, the one that tracks the gold ETF (GLD) for gold proxy, the silver ETF (SLV) for silver proxy, the miner ETF (GDX) the junior ETF (GDXJ) and copper miners' ETF (COPX) for base metals proxy purposes in the the last week five days of trading (though this time we remember MLK day on Monday shortened the trading week):

Base metals rebound, zinc and lead and friends do as well as their big brother copper, silver shows liquidity and risk appetite returning to the market, gold puts in a steady but solid week.

The interesting one is the GDX, however. Looks like cash rotation to me, but I may be wrong and that segment is flashing a wider warning. Vamos a ver....

UPDATE: Ok, I've just caught up with this post over at Biiwii and Iwnattos adds a bit of logic behind the GDX drop, too. Fools seldom differ, or great minds think alike? YOU BE THE JUDGE!


The Friday OT: The Dandy Warhols; Bohemian Like You

Just one post today, the regular Friday music interlude as your humble scribe travels back to home base. Last week's OT (An Emotional Fish's Celebrate) got a "That was a good one what about this one?" from a regular mailer who sent in thetrack and video you see below.

It's the Vevo version so the naughty bits are fuzzed out (you're not missing much) but the vid's still fun. It's the track that stands out though, with its blatant Stones riff ripoff that then morphs into something different and original, backed up by smart lyrics and a hook that'll get you hitting the repeat button. So thanks due to the mailer for reminding your humble scribe just how good this song is. Enjoy.


Normal service...

..will resume as soon as possible, just been having too much fun this week to post. 

Anyway, your humble scribe lands back in IKN Nerve Centre tomorrow evening and by the looks of things, the tiny beaten down pennycrappers held have done their best to make me feel richer this week.

Chart of the day is...

..this ten day comparative of the gold ETF (GLD), silver ETF (SLV), miners ETF (GDX) and junior miner ETF (GDXJ):

Oh look, the juniors rally in January. Now there's a thing, eh?


The mystery and romance of South America

Come friendly bombs and fall on Slough!
It isn't fit for humans now,
There isn't grass to graze a cow.
Swarm over, Death!
Slough, 1937, John Betjemen

Shots from your author's camera today:

Exotic and different 'ere, innit?

Chart of the day is...

...zinc spot, 30 day chart from those nice people at Kitco.

xZn closed a tad under 90c yesterday and today is a tad under 91. Still not a king's ransom, but this price does make nearly all Zn mines profitable. If it gets back to over a buck the market might start paying attention to this laggard.


When travelling you miss all the fun

For example, the belly-laughs and guffaws I would have had if I'd been round this morning for the action in Exeter Resources ( (XRA).The funny bit wasn't its pre-feas publication that offers the market a project that'd cost $4.8Bn for an IRR of just 11.5%. At that kind of of return you're competing with T-Bills, not other mining projects.

Nah, the funny bit was seeing it bid up at the opening bell. My, how I would have laughed at that move, imagining all the Canadian anal ysts spinning the unspinnable to those they'd already got long the stock. Better screentime entertainment than anything Simon Cowell could cook up.

UPDATE: Just seen the 4q production numbers too! Chortle chortle, but at least Mr.Market had the decency to not bid those up...much.


On the road

Your humble scribe has unknown beds in which to sleep this week, so posting may be light as a result (though I'm sure we'll get round to a quick thingy or two) thus the picture of Jack pops up on your screen once again. But just to ring the changes, instead of quoting the dude we're going for another deeply loved author round here, Douglas Adams:
"This planet has—or rather had—a problem, which was this: most of the people on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small green pieces of paper, which is odd because on the whole it wasn't the small green pieces of paper that were unhappy."

Enjoy your week.

OT: Costa Concordia; What happens inside very large ships when they hit rocks

This is impressive UPDATE: apparently the youtube has been pulled...another reason to remember the anti-SOPA protest Wednesday,

Suppose they opened a stock market and nobody came?

It's about time necessary Canadian authorities recognized the blazingly obvious, heaved a sigh, bowed to the reality of the situation and said "OK guys, we're not opening today because there's a public holiday in the USA so even if we do open for normal business nobody gives a damn."

The PricewaterhouseCoopers 2012 Gold Price Report

This link takes you to the 20 page report, so click and read it for yourself. Tons of interesting script and charts (that little one on page 12 just for a start) and a whole section on how dividend payments are on the rise in the gold mining sector. 

It's basically required reading for those who follow the gold sector. So read it.

Chart of the day is...

...Colombia's coffee production, per month in metric tonnes, since 1956:

 click to enlarge

The golden age was the 80s and 90s. Data from here

UPDATE: Setty writes in to comment:

Those sacks in the 80s and 90s? sure, there was some coffee in there, too.


The IKN Weekly, out now

IKN141 has just been sent to subscribers. A different sort of issue.

Another rebound poll for Ollanta

Here's the screenshot of the Ipsos/Apoyo Presidential approval poll for January, which is in Spanish but if you look below...

...we explain. The headline number is a 54% approval rating, up from the 47% of December 2011. That's on the left on the shot. Then in the centre with have approval by socioeconomic group and the interesting bit is how Ollanta has put in a rebound amongst the Cs, Ds and Es that had shown signs of malcontent.Then on the right we have approval by region with notable improvement in sentiment again the Centre and South areas, precisely the places he'd want to keep on his side.

What's not mentioned here, but implied by the dip-then-rebound we see in Nov-Dec-Jan, is that Humala has handled the Cajamarca protests well in the view of his fellow citizens.