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pdixon,
I sent off another E-mail to Senator Feinstein, subject Granfather Clause, things seem to have gone mute. Investors should continue sending letters and e-mail.
Something going on with (Grandfather Clause)? if so I would like to know also.
.
chevy56
Alien,
One day I`m going to become a people, I want to see what all the argument is about.
chevy56
Go MGMX.....
Alien,
Impressive airplane, to bad about the sale`s though.
chevy56
HAK, looks like a possible stall for the stock market according to this article.
chevy56
Stocks plunge on fears about China and growth By Ellis Mnyandu
1 hour, 7 minutes ago
NEW YORK (Reuters) - U.S. stocks tumbled on Tuesday, pushing the benchmark S&P 500 index down in its biggest one-day drop in almost four years, as a sharp sell-off in China's stock market and weak U.S. data fanned concerns about global economic growth.
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With an hour left to trade, the Dow Jones industrial average fell more than 500 points as investors pummeled stocks with the biggest exposure to Chinese demand, including Caterpillar Inc. (NYSE:CAT - news), whose shares slid 3.6 percent.
But by the close, the Dow had cut some of that loss. Traders said the late-hour slide may have been triggered by program trades heading toward the close. Tuesday's sell-off wiped out the year's gains for all three major U.S. stock indexes.
"There seems to be just an air of nothing is safe anymore, there's nowhere to go and people are rotating into bonds as a safe haven," said Andre Bakhos, president of Princeton Financial Group in Princeton, New Jersey.
The Dow Jones industrial average (^DJI - news) slid 416.02 points, or 3.29 percent, to 12,216.24. The Standard & Poor's 500 Index (^SPX - news) was down 50.33 points, or 3.47 percent, at 1,399.04. The Nasdaq Composite Index (^IXIC - news) was down 96.65 points, or 3.86 percent, at 2,407.87.
For the year to date, the Dow was down about 2 percent, while the S&P 500 was down about 1.36 percent and the Nasdaq was down about 0.31 percent.
On Tuesday, the die for the trading day was cast when China's Shanghai Composite Index (^SSEC - news) dropped almost 9 percent on fears that the government would crack down on speculation that has driven stock prices there to record highs.
Before Wall Street's opening bell, there was more bad news. A government report showed a much bigger-than-expected drop of 7.8 percent in January's new orders for U.S.-made durable goods, which added to concerns about a slowdown in economic growth. Durable goods are big-ticket items, including home appliances and computers, intended to last three years or more.
In one sign of how shaken investors were, the CBOE Volatility Index (^VIX - news), known as Wall Street's "fear gauge," surged 70.5 percent to a session high at 19.01 and then retraced its steps a bit to end at 18.31, a gain of 64.2 percent.
At one point, the Dow fell as much as 546.20 points, or 4.32 percent, to a session low at 12,086.06.
Howard Silverblatt, senior index analyst at Standard & Poor's, said the stock market's tumble wiped out more than $430 billion in the S&P 500 stock values, narrowly matching the value of share buybacks by S&P 500 companies last year.
All 30 stocks in the blue-chip Dow average finished in the red as investors dumped shares of companies with big exposure to the Chinese economy.
During the session, all three major U.S. stock indexes broke below their 60-day moving averages -- a sign that the momentum that has carried U.S. stocks through a record run higher from July has begun to stall.
Exxon Mobil Corp. (NYSE:XOM - news) was the biggest decliner in both the Dow and the S&P 500, with its stock falling 4.7 percent, or $3.57, to $71.83 on the New York Stock Exchange.
Caterpillar Inc. (CAT.N), the U.S. heavy equipment maker that does extensive business in China, dropped 3.6 percent, or $2.43, to $64.83, also on the NYSE.
The Philadelphia Stock Exchange's semiconductor index (^SOXX - news) ended down 3.1 percent, its second sharpest one-day slide this year.
Shares of technology bellwether Cisco Systems Inc. (Nasdaq:CSCO - news) dropped 5.6 percent, or $1.53, to $25.71. The stock was among the biggest losers in both the Nasdaq 100 (^NDX - news) and the S&P 500.
Volume was heavy on the NYSE, where about 2.41 billion shares changed hands, well above last year's estimated daily average of 1.84 billion. On the Nasdaq, about 3.02 billion shares traded, sharply exceeding last year's daily average of 2.02 billion.
The market's breadth was overwhelmingly negative, with more than six stocks falling for every stock that rose on the NYSE. On the Nasdaq, more than 10 stocks slid for every one that gained.
(
Redsky,
I`m long on this investment. Seems in this new world Bashers come along with the territory..sickness every place.
You can tell them by constant attacks of board members, never anything positive given.
It`s like dealing with little imature kids that want there way, I ignore this type of useless mentality, I suggest other members who are serious do the same.
chevy56
RedSky,
Thanks for all your positive messages on MGMX, both past and present.
Patience on our investment....Long on MGMX..
chevy56
Just my thoughts....
mule,
I`m in to this stock for 200,000 shares. My average on penny stocks.
I play it safe until upward movemnt.
Thanks for including me. Again thank you for your time and energy.
chevy56
Thanks mule,
Will send.
chevy56
Hak,
I have to interject here, english is my first language, and it is still, steal,steel, a problem.
What the heck did I just say?.
Just a little levity.
chevy56 ;]
One day I`m going to become a people, I want to see what all the argument is about.
chevy56
Hey mule,
Keep up the good work on the board, bought a few more shares today.
Good things come to those who wait....
chevy56
RedSky,
Thanks for everything....
chevy56
Red,
Thanks for the update, shows we are moving.
chevy56
mule,
Thank you for that update.
It`s great MGMX will respond, many companies do NOT reply to share holders concerns.
In my book that`s a plus.
Go MGMX...
chevy56
5 to 6 more weeks of rally before we hit resistance, WOW
chevy56
Gold Impresses with a Major Rally. Who was Buying?
By Roger Wiegand
February 22, 2007
www.tradertracks.com
“Gold prices had a big bounce yesterday on the weaker dollar, fresh geopoliticalnews and return of the commodities trading funds.” - Traderrog
Major Gold Price Drivers are ETF’s and Long Only Commodity Funds.
When gold had a great day like yesterday observers wonder where the action came from. The ETF’s were obviously big buyers but we think our greatest trades come from the hedgies with too much investable money and not enough homes for it.
The gold market is certainly not puny but hedge funds have the buying gas to produce our most significant moves in both gold and silver. We have repeatedly remarked about their buying power and yesterday was a perfect example. Gold and silver cycles are not finely tuned in unison but their technicals are telling me we have at least five to six more weeks of price rallies before reaching a hard resistance ceiling.
Daily Silver on 2-21-07 Broke $14.00 Overhead Resistance
This silver chart is telling us $15.20 is right ahead.
There are Two Price Camps for Gold and Silver in Spring, 2007.
“To decide, to be at the level of choice, is to take responsibility for your life and to be in control of your life.” – Abbie M. Dale
Regular disagreement among gold and silver analysts and market observers is a healthy and on-going condition. If the herd was in total agreement trader-contrarians would be running in the opposite direction. However, we are at an inflection point right now which will cause some traders to exit or hang on for more.
One of the best trader-teachers I know says, “Unless the charts, patterns and fundamentals are telling you to sell, you just better hold and stay in position for more. Obviously, appropriate risk control is mandatory.
We have reached a technical price point where gold and silver is on resistance and profit-taking might arrive with an A-B-C correction that is either mild or potentially more severe.
On the other hand, our gold and silver calendar has weeks’ left in the current cycle. While we are expecting the technical A-B-C, in our view it could be mild and a re-entry in these faster markets might limit your gains to the extent we say you better hold on.
In previous similar precious metals rallies, current strength and power were absent or not nearly as strong as what I am seeing today. Further, other commodities like crude oil and grain along with copper and some softs are all bullish. If these markets were individually bullish with the larger preponderance of the commodity group not as strong, the indication would be the funds are on the sidelines.
This is not the case as funds have covered large short positions in crude oil after its recent low correction. Further, they prefer to purchase a basket of markets to spread the risk and buy most of the entire commodities market at one time. This is why you’ll notice a substantial commodities group all bull higher at once. Watch the CRB for this indicator.
Other Important Fundamentals in Play
‘We see not a wall of worry but a wall of Scary.”- Traderrog
The Middle Eastern situation, in our view, is not improving at all. In fact, this week’s news points to new levels of risk in all markets, the forever war, and potentials for additional military aggravation.
Gold and silver bugs have watched the sinking U.S. Dollar create better metals prices. Today, this market is stuck on support and moving sideways but the primary longer trend is down. On the other hand, crude oil is often rising in tandem with gold; a situation we see today.
One major point this week, largely over-looked in my opinion, was the openly negative attitude by Japan toward Vice President Cheney’s coming visit to Tokyo. Their Prime Minister when asked the reason gave a mediocre and somewhat negative response. The Veep is in Australia right now attempting to drum-up support for the Iraq adventure. The Aussies were cordial and supportive. We don’t think the Japanese will feel the same way and Cheney’s performance will be watched closely. Never forget that Japan to a large extent holds the fiscal future of the United States in their hands.
On further news in Japan, we forecast no rate increases despite intense Japanese Central Bank discussions to do so. Things appear way too fragile over there and even more so in the United States. We do not see a wall of worry so much as a wall of Scary. A long list of problematic events is coming to head and this does not bode well for the general markets.
Hold on to your gold and silver positions and plan to purchase more. The speed of metals trading is going faster. Stay in the markets and let fast trading lift your positions
From wall of Worry to wall of Scary, good read.
chevy56
Gold Impresses with a Major Rally. Who was Buying?
By Roger Wiegand
February 22, 2007
www.tradertracks.com
“Gold prices had a big bounce yesterday on the weaker dollar, fresh geopoliticalnews and return of the commodities trading funds.” - Traderrog
Major Gold Price Drivers are ETF’s and Long Only Commodity Funds.
When gold had a great day like yesterday observers wonder where the action came from. The ETF’s were obviously big buyers but we think our greatest trades come from the hedgies with too much investable money and not enough homes for it.
The gold market is certainly not puny but hedge funds have the buying gas to produce our most significant moves in both gold and silver. We have repeatedly remarked about their buying power and yesterday was a perfect example. Gold and silver cycles are not finely tuned in unison but their technicals are telling me we have at least five to six more weeks of price rallies before reaching a hard resistance ceiling.
Daily Silver on 2-21-07 Broke $14.00 Overhead Resistance
This silver chart is telling us $15.20 is right ahead.
There are Two Price Camps for Gold and Silver in Spring, 2007.
“To decide, to be at the level of choice, is to take responsibility for your life and to be in control of your life.” – Abbie M. Dale
Regular disagreement among gold and silver analysts and market observers is a healthy and on-going condition. If the herd was in total agreement trader-contrarians would be running in the opposite direction. However, we are at an inflection point right now which will cause some traders to exit or hang on for more.
One of the best trader-teachers I know says, “Unless the charts, patterns and fundamentals are telling you to sell, you just better hold and stay in position for more. Obviously, appropriate risk control is mandatory.
We have reached a technical price point where gold and silver is on resistance and profit-taking might arrive with an A-B-C correction that is either mild or potentially more severe.
On the other hand, our gold and silver calendar has weeks’ left in the current cycle. While we are expecting the technical A-B-C, in our view it could be mild and a re-entry in these faster markets might limit your gains to the extent we say you better hold on.
In previous similar precious metals rallies, current strength and power were absent or not nearly as strong as what I am seeing today. Further, other commodities like crude oil and grain along with copper and some softs are all bullish. If these markets were individually bullish with the larger preponderance of the commodity group not as strong, the indication would be the funds are on the sidelines.
This is not the case as funds have covered large short positions in crude oil after its recent low correction. Further, they prefer to purchase a basket of markets to spread the risk and buy most of the entire commodities market at one time. This is why you’ll notice a substantial commodities group all bull higher at once. Watch the CRB for this indicator.
Other Important Fundamentals in Play
‘We see not a wall of worry but a wall of Scary.”- Traderrog
The Middle Eastern situation, in our view, is not improving at all. In fact, this week’s news points to new levels of risk in all markets, the forever war, and potentials for additional military aggravation.
Gold and silver bugs have watched the sinking U.S. Dollar create better metals prices. Today, this market is stuck on support and moving sideways but the primary longer trend is down. On the other hand, crude oil is often rising in tandem with gold; a situation we see today.
One major point this week, largely over-looked in my opinion, was the openly negative attitude by Japan toward Vice President Cheney’s coming visit to Tokyo. Their Prime Minister when asked the reason gave a mediocre and somewhat negative response. The Veep is in Australia right now attempting to drum-up support for the Iraq adventure. The Aussies were cordial and supportive. We don’t think the Japanese will feel the same way and Cheney’s performance will be watched closely. Never forget that Japan to a large extent holds the fiscal future of the United States in their hands.
On further news in Japan, we forecast no rate increases despite intense Japanese Central Bank discussions to do so. Things appear way too fragile over there and even more so in the United States. We do not see a wall of worry so much as a wall of Scary. A long list of problematic events is coming to head and this does not bode well for the general markets.
Hold on to your gold and silver positions and plan to purchase more. The speed of metals trading is going faster. Stay in the markets and let fast trading lift your positions
HAK,
I always said, if you want someone to remember something in life, tell them a story.
That`s a good one.
chevy56
My reason for being long on this stock, after doing my own DD, I feel the best way to invest in MGMX is to be Long.
For others who invest in this stock may feel they want quick money so they may short stocks....
Being long requires (Patience) on my investment.
Many times I have used this word (Patience), for some that do not understand this concept I suggest you talk with your broker.
chevy56
just my thoughts, good morning Red, mule and others, please continue your fine job on this board.
Red,
This will change our lives, I`m sure of it, thanks for everything.
chevy56
Red,
This is only Feb., we might see 750 by August this year or better is my guess.
chevy56
Hey Red,
Stay away with the sickness, I`ve been sick, my brother, friends, don`t know whats going on.
We will feel a lot better when MGMX makes it`s mark..and have a good laugh.
chevy56
Good things come to those who wait.
Only the strong survive
chevy56
Hey Red,
Hope you had a good week-end also.
It takes time for a final geo. report, this will make our numbers look good.
Just a matter of time.
chevy56
Just my thoughts.
Bashers are on our board, there job is to bash this stock, make you sell your shares so they can pick them up cheap...
There goal is to depress our investment, ignore them, if you will notice certain people have given nothing positive about the company.
Constant attacks......
That`s what these guys do...
ignore them.
chevy56
RedSky,
I suspect we have bashers on our board, ignore them, from what I understand these guys get paid when attention is given....
chevy56
red,
Stay in touch...
chevy56
mule,
Seems like a firestorm on the board, I think after confirmation from Geologist we should get a PR.
Probably dilution to cover expenses and lawsuit..someone mentioned this thursday, sounds reasonable to me..
Next PR should give credibility one way or the other, hope the reason for not getting a PR at this time geologist report is the reason.
Nothing can be done without that report, so I think we wait and blindly guess about the future, Let us hope every thing will pay off.
chevy56
Here`s the article,
chevy56
Press Release Source: X-Clearing Corporation
X-Clearing Corporation Announces Judgment Against Mercantile Gold Company, nka MGM Mineral Resources, Inc.
Thursday February 8, 6:00 am ET
DENVER, Feb. 8 /PRNewswire/ -- Clearing Corporation (Defendant) announced today that it has obtained a final, non-appealable judgment against Mercantile Gold Company (Plaintiff), nka MGM Mineral Resources, Inc. (OTC: MGMX - News), in the amount of $362,567.24, plus costs and attorney's fees to be determined.
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This District Court action, case number 05-CV-8036, was originally brought against X-Clearing Corporation by Steven Doppler, the prior President and CEO of Mercantile Gold Company. Currently, Mr. Doppler is CEO of Aurelio Resource Corporation (OTC Bulletin Board: AULO - News). The judgment was based upon a counter-claim by X-Clearing Corporation. As of this date Mercantile Gold has made no attempt to satisfy this judgment.
X-Clearing Corporation, a wholly owned subsidiary of Fincor, Inc. (OTC: FINC - News), is a boutique professional transfer agent based in Denver, Colorado.
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Source: X-Clearing Corporation
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Also X-clearing does not look like a fly by night operation, which speaks well for MGMX..
Seems to be a respectable operation. I wonder what happened?.
chevy56
Mule,
I have to go along with HAK41`s line of resoning also.
Considering the Law Suit.
chevy56
Small article on what X-clearing house is about.
chevy56
We are a Denver-based Transfer Agent offering complete Issuer solutions including online access, dividend processing, DRP/plan administration, trustee services, and more. We are highly cost competitive and extremely service oriented. Unlike our competition, we know that turnaround on your items is highly important, and treat you as we would like to be treated.
Others in our industry simply do not have the bank of knowlege that we do. Most small agencies are staffed with operations people turned business people; X-Clearing Corporation is a team of business people FIRST - with experience in Investment Banking, Operations, Compliance, and more.
Send us an email or give us a call - you'll be glad you did.
Qualified for Amex, Nasdaq SC and NMS, Bulletin Board, Pink Sheets, and Private Companies
535 Sixteenth Street Mall, Suite 810, Denver, CO 80202 (303) 573-1000 / Fax (303) 573-1088
© 2001-3 X-Clearing Corporation All rights reserved.
Emotions won`t give answers.
Another stock I won`t give the name here, last week did a 5000 to 1 reverse split...
No PR from the company since Sept./2006, Now that`s a scam.
Reverse split with NO PR....stock went from .0003 to $1.50 then .12 cents...go figure.
I Agree the company should give a PR letting us know it`s current position, some companies are very slow in this area which is a worry....dilution another..
Know of another company that has stopped giving PR`s also. So yea I understand your emotions, Also high blood pressure the works....let`s hope for the best.
any way chevy56
Just waiting on that Geo. report and Gold numbers...
chevy56
pretty,
Good article on gold...positive note with my coffe in the moring makes my day.
chevy56
mule,
If this is confirmed, hope that it is not.....
chevy56
RedSky,
Anytime.
chevy56
RedSky every one has there view of your pictures. When your caught between a rock and a hard place, all you can do is sit still.
Sometimes all you can do is pull back and wait on your vindication.
So lets just set the bush on fire and see what runs out.
Great pictures.
chevy56
Kermit,
Thanks for the info.
chevy56
Maybe with any luck MGMX has a geologist on the premisies.
Hope we will get a confirmation on gold bars.
chevy56
RedSky,
Is it possible the big guy`s now have to start digging
for new mines, easy gold is about over.
I hear it takes at least a year to dig and set up a new mine, the further they dig down it becomes warmer, saftey issues....
That may be a good sign for little guys like MGMX. Could make us more valueble.
chevy56