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Thank You Frank. I like the idea. I will bookmark the thread and visit often. I hope this thread becomes as popular as the SI version.
Joemoney
Joe... Strictly Drilling (for money) -- it originally was just for the oil sector but... you can't swing in and out of this sector without discussing the broad markets. So in a sense Strictly Drilling is an investment style.
Regards,
Frank P.
Frank, Stupid Question:
Is this thread for "Drilling" and "Oil" stocks only? I'm not sure of what it is focused on.
Thank You,
Joemoney
** Sagging US Gas Output Sets Stage for Higher Prices
By Joseph Silha
NEW YORK, May 31 (Reuters) - A steep drop in U.S. natural gas output this year could mean big price jumps this summer and again this winter if the mercury lingers for long at either end of the thermometer, industry analysts said.
http://www.slb.com/ba.cfm?baid=1&storyID=572551
Hey Frank,
Check this out... Placer Dome Bids $1.1 Bln for AurionGold http://biz.yahoo.com/rb/020526/minerals_auriongold_1.html
Placer to cut Auriongold hedges
http://biz.yahoo.com/rc/020526/minerals_auriongold_hedges_1.html
Cool eh???
http://www.investorshub.com/boards/read_msgs.asp?board_id=812&NextStart=137
Regards,
Peter
Hey Frank -- Missed this last night, but it's moot that it was quiet last night as it sure wasn't today<GGG. There appears to be other forces at work as well. I think they'll keep after bin hiding until they turn on Saddam, unless they believe he is really close to WMD launch.
Otherwise see the previous post to Peter
Regards
Bob
He, he, he... way to go.
After my exuberant 120 at noon the other day, I closed at 115. When I was back above 120 at 1 and POG holding well above 305, youngest and I went out, to come back to a close of 136. Lots of end of day pops. AZS is on fire. 60% total since that line in the sand. BGO becomes my third triple<GGG. Time to trade em? Sometimes it's good to be out on Friday afternoons and not near the sell button! Was really thinking we'd level out going into month end, but I read many funds buying gold stocks to show they are in the hot sector before month end. Question is will they dump them in the first week or keep adding, pouring more kindling on the fire. Next stop 320 or back to 300. Best to be in over the weekend just in case<GG. Any swing lower Monday or Tuesday shouldn't hurt too much.
I'm outa here with the girls for Chinese buffet. Will stroll in later about 20 pounds heavier.
Regards
Bob
up 102% on the NGX.wt.to
Not bad for 2 weeks work...
BTW, this has been the best day for my PF since the techie bubble days.
Nice day!
Regards,
Peter
Hi Bob -- just checking in on the "other thread" -- Could the POG be strong again tonight? I looks to me that we could gain a dollar a day until the U.S. strikes Iraq. I'm thinking this one will be a deep war - they will want the man head wouldn't they? His head served on a silver platter for the American public.
Regards .......
Frank Pembleton
AZS just over a double. Triples in MFL and CBD and almost BGO. NSU also a double. TVX and PAAS closing in on doubles. That leaves SWG and of course my lottery pick.
Somehow you didn't copy the link correctly again, I always put in a return after what I typed and then one right after pasting the link. Is it important?
Besides thinking of a hedge for spikes, might consider some rebalancing, particularly if we start another consolidation period. MFL had the biggest range for the longest time, so it could be a trader. Still waiting to post a trade on Cush's thread.
Regards
Bob
Yup. I'm back tomorrow after 5:30pm.
Hey, congrats on AZS.v (up 19% today after a nice rise yesterday & the day before) Isn't that a triple for u now?
Well done :)
Have u seen this? http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui....
BTW, back in 100% GOLD & Silver shares
My 10% hedge to offset PM's didn't work out (techie)
Guess I should have gone with my gut which was KCH.to
Oh well. I guess I've still got to learn to seperate the company from the stock. ie: Luv the company, but the stock (TMTA) sucks... will keep it on the ticker though FWIW
Live & learn for another day.
Regards,
Peter
edit: modified my portfolio somwhat... took some MAE.to off the table & put the proceeds into SWG.to
Still like those long-term charts of SWG.to
When she goes... she really goes...
Good luck with the WRM. Just checked my PF. We were talking not long ago how 55 of 130 was a double and smiling, now it's 120 of 130 and that's closing in on a triple. Still smiling. SWG sure is a laggard though. Even my lottery pick has picked up some.
If my count is right you're back tomorrow.
Regards
Bob
Hi Bob,
Dumped my last lonely techie TMTA --> with the proceeds I bought WRM.to today (again). My entry price was @ 1.25, not the best... but I have to go work & I wanted to confirm a fill on both the sale of TMTA & the buy on WRM.to.
Re: the puts... interesting strategy. I'm afraid that the only call options I understand is buying juniors GOLD & Silver companies & warrants of the underlying stocks.
Sorry that I can't help you here...
Regards,
Peter
Hi Peter:
Just checking in. Total hit all time high today. MFL, CBD & AZS posted 52 week highs I think. CBD took over BGO in #1 spot. Nice action happening. Thinking of buying some puts on AEM & NEM on NY to hedge the first correction for liquidity, if I see a big enough correction coming. Still no trades.
Regards
Bob
If TMTA closes below $2.38 I will be out... of this stock FWIW.
Might be too early or too late.
Who knows?
One thing for certain is that the trend is against any kind of hi-tech stock.
I'll soon find out.
Regards,
Peter
Somebody once said to me... "Why do u play against the trend"?
'cause "Maybe it is profitable???" {NOT ALWAYS OF COURSE]
Good thing I'm just playing with 10% of my portfolio.
Regards,
Peter
Congratulations Frank,
Currently sitting @ 90% GOLD & 10% tech (ie: TMTA)
Current holdings are BGO.to, FWR.v, MAN.to, MAE.to, NGX.wt.to, & SWG.to & TMTA.
Currently exploring some insurance plays FWIW
Thank you for posting your possible reallocation of your PF.
Regards,
Peter
Hey, thanks Peter... I see the impending strike was averted by Northgate Ex. -- I actually expected a nice bounce from this, which hasn't, as of yet, materialised.
I've also been raising the concentration (or risk) in my portfolio. I added more Cumberland this morning while shedding my positions in National Gold and Birim Goldfields.
Hopefully this works out...
Regards
Frank P.
Very, very happy with the NGX.to warrants. Up another 22% today<g>
Nice 50% return since April 15/2002
Sure beats the return @ my local TD Savings account.
Regards,
Peter
GO MFL GO!!!! Gotta hand it to u guys (Frank & Bob), very nice technical & fundamental analysis.
I hope you & Kirby49 make out like bandits.
I completely blew the MFL.to trade...
Regards,
Peter
Peter, many thanks on the MFL trade - I'm quite a surprise on the strike concerning NGX, I'm holding steady though. I remember back a few years ago when Inco share price appreciated through these labour negotiations in Sudbury - for now I've just got to settle on the appreaciation of their reserves.
Regards
Frank P.
Good going Frank. I like this action on NGX.to Volume is certainly picking up so just waiting for price to follow.
edit: GOLD up $2.80 & Silver up .07 cents this morning
Gonna be another nice day...
btw, congratulations on the MFL.to trade.
Very nice!
Regards,
Peter
** Editorial Roundup
Wed Apr 17, 2:22 PM ET -- By The Associated Press
Excerpts from editorials in newspapers in the United States and abroad:
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020417/ap_on_ed/editorial_rdp_15
Peter... got the rest of my fill - stock is kinda range bound, it hit the high of $1.47 and now it's pulled back to $1.4 - good volume and market depth - success is close at hand. :)
Regards
Frank P.
NGX.wt.to up 20% 'cause the underlying stock NGX.to is up 4 1/3rd % & currently sitting on the high of the day.
edit: 209,000 cross @ the open + 45,000 & 35,000 share crosses
Regards,
Peter
GOLD up $3.75 & Silver up .03 cents
gonna be an interesting day...
Regards,
Peter
Agreed 100+% with your comments re: CDE & NGX.to
PHPI (NGX.wt.to warrants)
Regards,
Peter
Peter... yeah - I think we talked about Coeur D'Alene in the same breath as Echo Bay Mines. I like levered balance sheets but this one is a bit too much and yeah the drop in silver certainly didn't help, but I think this drop is more about the internals.
About NGX - Northgate Exploration:
http://finance.yahoo.com/q?d=t&s=NGX.TO
I'm thinking this ones a ringer - a love those little break outs when they're followed by nice gradual climbs.
Regards
Frank P.
Hi Frank,
Thanks for thinking about me... I miss you guys...
I was stopped out of CDE earlier this AM. Stopped out @ 1.16 US. PHEEEWWW!!!!... (it doesn't help that Silver is down 13 cents :(
Checking out MFL & ISA on the TSE as I write.
re: CDE probably just too much debt I guess.
BTW, with the proceeds, I also entered the NGX.wt @ .32 cents that you & Bob were yapping about this am.
Thanks for the heads up.
Regards,
Peter
http://www.siliconinvestor.com/stock
talk/msg.gsp?msgid=17312270
http://auschwitz.dk/Denmark.htm
My Father died a long, long time ago &, even, if he was Norwegian, he was able to separate Right from wrong.
Even if the rest of the world chooses to ignore it.
I am on my Fathers side.
I just hope the free world wakes up soon before it is tooooooo late.
Regards,
Peter
Sorry Frank for posting off-topic posts... u r much saner than I am
Is everyone enjoying this end of day POG move?
YES!!!
Maybe a reason...
http://www.investorshub.com/boards/read_msg.asp?message_id=327675
Regards,
Peter
Hi Frank,
Sorry to c that u deleted my post.
Regards,
Peter
is SI next?
edit: u know as well as I know... that I'm right.
I don't censor my posts. Why do u???????????
Regards,
Peter
Thanks Frank for the reminder...
Regards,
Peter
Thanks, Si's back up and running quite quickly, I'm surprised.
Bob
Bob, go to the front page and you'll see to your right:
The Mining Show
Coverage of the Prospectors and Developers Association of Canada convention with Les Paton, Consulting Geologist, Impala Patinum Holdings Ltd., Clyde Johson, Director, Mvelaphanda Exploration Ltd., Catharine McLeod-Selsor, Director, Stornoway Ventures Ltd., and Robert Boyd, President of Ashton Mining.
Duration: 57.20
http://www.robtv.com/
Hi Frank:
If you're still there can you tell me the name of the show on Rob that they're doing the mining thing. Thanks
Bob
Hi Peter and all,
Glad I remembered this board too, had to use googol to find it again, lol!!
Maybe we should stay here.
I've got to get back to work!
AARGH!
Roebear
**Pan American Silver Corp. reports year-end and fourth quarter results
VANCOUVER, March 14 /PRNewswire-FirstCall/ -
Pan American will host a conference call on Friday March 15th at 8:00
a.m. Pacific time (11 a.m. Eastern time) to discuss 2001's financial and
operational results, give project updates, and answer questions. To
listen to the call live, dial 1-416-695-5806. To listen to a playback of
the call after it has ended, dial 1-416-695-5800 and enter the pass code
1104294. This option will be available for 2 weeks after the call. The
conference call will also be broadcast live and archived for later
playback on the Internet at http://www.q1234.com.
http://biz.yahoo.com/prnews/020314/va158_1.html
**Tesco Corporation Announces Record Year - Fiscal Year 2001 Results - Record Operating Year
Trading Symbol: "TESOF" on NASDAQ "TEO" on TSE
http://biz.yahoo.com/prnews/020314/ca053_1.html
**Some Japanese Are Hoarding Gold
By JAMES BROOKE
TOKYO, March 13 — While Japan has had the world's fastest- growing major stock market this year and the yen has jumped nearly 3 percent against the dollar in the last month, a small but growing number of Japanese investors are preparing for the worst and hoarding gold.
With limits looming on bank deposit insurance, banks tottering under bad debts and the government printing money in an effort to create inflation, sales of gold are expected to come close to quadrupling this quarter, compared with the period last year, according to the World Gold Council, an industry group.
"The Japanese economy is very bad," Yujiro Isoda, a 67-year-old retiree, said after he had purchased two Austrian gold schillings at a downtown gold shop here. "The accumulated bad loans are still not cleared. How can I protect my property? Buy gold, that's what I thought."
Nearby, the shop manager hovered over a display counter where gold bars were arrayed like metal pats of butter. In February, he said, his gold sales were seven times those in February last year.
Below Japan's Zenlike surface calm, a big fish is roiling the lower depths: consumer unease about the direction of the yen, the economy and the banks.
On April 1, federal insurance on time deposits, currently unlimited, is to be restricted to $75,000 for each account; that cap will be extended to all savings accounts in April 2003. At the same time, stocks of some major banks bump along at penny-stock levels because investors know that several are effectively insolvent without another multibillion-dollar bailout from the government.
On the government side, public debt has ballooned to 140 percent of gross domestic product, the highest level of any major developed economy. Now politicians and economists are pressing the Bank of Japan to print trillions of yen to allow Japan to inflate its way out of its debts. From September through February, the markets responded, devaluing the yen by 15 percent against the dollar. This month, the yen has strengthened as Japanese companies have repatriated assets to close their books for the end of the fiscal year, March 31.
But Mr. Isoda's generation acutely remembers the trauma of Japan's postwar inflation, which peaked at 115 percent in 1947.
"I have experienced World War II and survived the postwar high inflation," he said. "I know that paper money can turn into rubbish, nothing. But gold can survive any time of history."
While some may dismiss Mr. Isoda's economic views as ultraconservative, they were generally endorsed the same afternoon last week in an executive dining room at the Bank of Japan, the nation's central bank.
"There is a gold rush going on," said a high official at the bank, which is responsible for controlling the nation's money supply. "People are buying lots of gold. There is uncertainty about the banks, about deflation and, finally, about inflation. Gold is seen as the best hedge against inflation."
Some investors, particularly younger people, are also shifting into dollars and euros, he added, in part because they did not experience Japan's roller coaster of exchange rates over the last 15 years. That shift is still relatively small, but Japan's bank savings are so big — 716 trillion yen, about $5.6 trillion — that American companies say even a tiny shift would mean a lot of business. Last year, Pimco, an American fund management company, said its Japanese accounts had increased about 90 percent, to $6 billion — an increase that Pimco said it hoped to match this year.
Since last November, the surge in Japanese gold sales has contributed to a 10 percent strengthening in world gold prices. Measured in yen terms, the jump was 18 percent. In Tokyo, the trend is most pronounced at the store visited by Mr. Isoda, where clerks have sometimes helped patrons load as much as 85 pounds of gold bullion — more than $300,000 worth — into shopping bags and lug the bags down the street to their cars.
"We don't know how they keep their gold at home," said Osamu Ikeda, a spokesman for the store's parent company, Tanaka Kikinzoku Kogyo. "Maybe in a safe, maybe in a bank safe deposit box."
In the last quarter of 2001, sales of investment gold — bars and coins, as opposed to jewelry or ingots used for industrial processes — hit 690,000 troy ounces in Japan, a 54 percent jump over the period in 2000. Itsuo Toshima, regional director for Japan and Korea at the World Gold Council, forecast that sales of bars and coins would jump to 1.45 million ounces in the first three months of this year, almost four times the level of the period last year.
"It is increasing very rapidly," Mr. Toshima said.
Japan's interest in gold reverses a long trend. Gold spiked as high as $850 a troy ounce in 1980, when the second Arab oil embargo sent inflation roaring and the Soviet invasion of Afghanistan caused stock markets to slump. But after those problems receded, investors around the world lost interest in gold because inflation was tamed and stock markets generated consistent gains. Gold now sells for about one-third that 1980 high — $293.60 an ounce in New York yesterday.
But with uncertainty clouding the Japanese economy, some investors see gold as a rock to cling to. Since a speculative bubble burst in 1989, stock and land prices have receded to about one-quarter of their peaks.
The most popular alternative — bank savings, which account for half of Japan's $10.5 trillion in financial assets — lost much of their appeal as interest rates shrank, recently to as little as 0.02 percent a year. On Monday, Shizuoka Bank said it would cut its interest rate for ordinary savings accounts to 0.001 percent from 0.005 percent; that move means that savers will get 1 cent in interest annually for each $1,000 on deposit.
But now the trade-off between ultralow interest and security is being shaken by the restrictions on deposit insurance and by a growing perception that some banks are insolvent. In the last year, about 50 small banks and credit unions have failed.
With the deposit insurance deadline looming, 21 percent of all time- deposit accounts over $75,000 were closed last year. Most of the money, about $200 billion, was moved into protected savings accounts, according to the Bank of Japan. Fear about the safety of banks now outweighs concern about fluctuations in the price of gold for many Japanese.
"Our customers don't care much about the gold price," said Yoshihiro Matsumoto, director of the gold section of Mitsubishi (news/quote) Material. "They just want to convert their bank account into gold."
Even if they do not bother buying and storing gold, some Japanese are still shying away from conventional savings. Bank managers sourly admit that some depositors have closed savings accounts, only to turn around and place the cash in safe deposit boxes at the same banks — or hide it at their homes.
James Terada, an American business consultant, remembers a visit he made last summer to an old classmate from his Tokyo elementary- school days: "He asked, in all seriousness, that if you stored yen bills in a jar, sealed it with wax, would the currency get moldy and spoil?" Mr. Terada said.
In a regional consumer confidence poll released last month by MasterCard International, the Japanese ranked as Asia's biggest pessimists.
Other nonpaper assets won favor in Japan this winter. At the downtown Tokyo branch of Mitsukoshi, one of the city's largest stores, jewelry sales rose 27 percent in January compared with last year, while sales of art objects rose 13 percent.
Overseas, Japan's new love affair has not gone unnoticed.
"The Japanese want something physical to put their money in," Paul Macarounis, a gold trader for NM Rothschild Australia said from Sydney. He discounted this week's run- up of the yen and Tokyo stock prices, saying Japan remained economically weak. "The reasons for buying gold are not going to go away in a hurry."
http://www.nytimes.com/2002/03/14/business/worldbusiness/14GOLD.html
**U.S. Retail Sales Commentary - TD Economics
http://www.td.com/economics/comment/ca031302.pdf
RESEARCH CAPITAL - MINING - INDUSTRY UPDATE
http://www.researchcapital.com/document/Morning%20Comment/Mining/Mining0311-2.pdf
RESEARCH CAPITAL -- ENERGY - INDUSTRY UPDATE
http://www.researchcapital.com/document/Morning%20Comment/Energy/Energy0311-2(2).pdf
Marcos, I keep hearing about that "wall of money" that's sitting on the sidelines - <ggg> what if... just what if...
Naaaa, I won't go there, we've heard it all before. :)
-- The front page of the GlobeInvestor Gold web site looks bullish on the gold:
Andersen indicted
Department of Justice indicts for obstruction of justice after beleagured accountant refuses to plead guilty
Oracle misses sales forecast
Oracle 3rd quarter net 9 cents per share
Labopharm shares plunge
Labopharm tumbles 40% as Aventis ends license pact
Irish ax falls
AIB fires senior Allfirst bank executives for failing to detect fraud
-- Should be an interesting end of month rally...
Regards
Frank P.
SI's down for me too, more than half an hour now ... there was a piece on PDAC on the radio this morning but i just got to the pickup as it was ending, they were laughing over how many closeology players there were for the various northern diamonds camps, and one guy said 'well i'll be watching to see which ones are ex-dotcoms' -g-
Frank, on speculative interest - that could happen, and it wouldn't take much, some small fraction of the market cap of one of those high-flyer techs coming into the sector ..... how many outstanding for Nortel now, is it three billions [that's billions, with a b] or three and a half? ..... it was printing a hundred and twenty loonies the copy, lol
Alas however, i fear a certain lack of gap-up on the open - http://kitco.com/ -g-
** Mulling NYSE Listing? London Wants You
By Victoria Lavrentieva -- Staff Writer
Whether it's hard currency or the stock exchange, Russians prefer American. In an attempt to break this trend, a delegation from the London Stock Exchange came to Moscow on Tuesday, trying to convince Russian companies to list with it instead of with New York.
http://www.themoscowtimes.com/stories/2002/03/13/042.html
Bob, I sure it'll definitely be more upbeat - heck... It's the only game left in town to be upbeat about. :)
Regards
Frank P.
Well, I just got through to home but can't open subject marks yet. Will try and catch that on Rob tonight. Missed going down to the PDAC as I had the kids this week. Pacific Northwest called to try and get me to go down at least to their hospitality room in the Royal York. Last one I went to was Bre-x about $2 on the way down. I'm sure it will be a little more upbeat this year!
Regards
Bob
Could there be a big move in gold?
My strongest argument(s) for a big move in precious metals is something called investor psychology, the pursuit of happiness and the bell curve.
What I mean by the bell curve or the normal curve (Gaussian distribution) is most of the people in this world are of average strength, speed and intelligence. To us, it means they'll finally figure out the answer to their problem at about the same time. They will move into this sector with a herd like behaviour without even knowing it.
My "prudent game" is one of taking a position in this sector before everyone else recognises that capitalism is in its destructive phase of never ending growth. I use precious metals as a method of protecting my net worth through this transitory period of stagflation, reflation, deflation and inflation. In reality, corporate profits aren’t quantifiable and true profitability is something that’s impossible for anyone including the professional analyst to calculate – we can all agree that a balance sheet isn’t just a balance sheet anymore. Pro forma, GAAP and Greenspan's never ending money supply expansion – tells us that we aren’t in Kansas anymore.
Regards from Wonderland
Frank Pembleton
Bob, yeah must be - - checked-in there and just decided to visit here. -- BTW, I noticed there's a mining special on RobTv later this evening - I'm certainly looking forward to watching it.
Regards
Frank P.
Frank:
Is it just me or are SI's servers down?
Bob
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