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< The savagery with which Gold was put back in its bottle illustrates clearly the severity of the global financial situation. There are only so many shots of this magnitude left in the lockers. When they run out, look out above.>
http://www.the-privateer.com/welcome.html
Good read from crosscurrents:
http://www.cross-currents.net/charts.htm
Because the price got cheap or do you sense some real storm clouds on the horizon?
I saw the same thing you did Wayne hope it holds in here. GOZ also up for the day.
Tackler I love it. <vbg>
<Estimated turnover was 165,000 contracts, which, according to NYMEX, would be the most active since 187,427 lots changed hands in a violent short-covering rally on Sept. 28, 1999.>
http://reuters.com/financeArticle.jhtml?storyID=3555896&newsType=usGoldRpt&menuType=markets
Lot of commercials went long today I would say. Looking forward to a huge rally in the not too distant future. We needed to clear the decks of all the dead wood and people who love to slice and dice.
tom
Bad. <g>
kastel still making money of sorts on CKG but not if you count FIFO method. <g> SVL is the one I have my eye on for the next 30 days.
tom
Be a long month.
Yeah I should do a bike ride but am manning the desk for the evil employer today. Tomorrow maybe bike ride but some yard work for sure. <g>
Yeah I like what may be coming up for SVL. So I have the boat so loaded and lopsided I need you to jump in and add ballast matey.
tom
Glad to see I have company in my misery. LOL.
Frank,
Please do your magic and post the SVL trades. I bought 15,000 (14,500 in one lot and 500 in another I think) at 1.09 and another 20,000 at 1.10. The 20K chunk just closed. I bought because I got really ticked off at Crusty or Louis buying cheaper than me the other day. <g>
So as you guys and gal are selling I am buying. I did sell a portion of a stock I had earmarked for long term hold but with the size fo the drop in SVL the last few days I could not resist.
Tom
You sell all your SVL too?
yeah! <ng>
<Mr. Duisenberg's term will end in November, when he will be replaced by French Central Bank Chief of France Jean-Claude Trichet. >
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=19365598
This guy is much more of a gold bull. I am making that comment off of some things I read several years back.BWTHDIK?
Please clarify. ?? <g>
CD,
Am I your fundamentals guru?? LOL. LOL.
tom
I sold too soon but am not rebuying until early next year. I think.LOL.
Interesting:
Date: Thu Oct 02 2003 11:49
trotsky (frustrated @ 'Willie CB) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
this is the one point on which i continue to disagree vehemently with most Austrian economists, and those who are more or less re-iterating their views and concepts ( verbose Willie being one of those ) . they can't conceive of deflation in a fiat system it seems. and yet, that is precisely where we are headed. the next inflationary K-summer is at least 30 years away, i.e. 'stagflation' shouldn't reasonably be expected to take hold before the 2030's.
of course the deflationary winter ( which will likely last until 2010-14 ) won't be an exact replica of the 1930's, the deflationary effects should be comparably 'mild' ( i.e., -2% CPI deflation annualized at the worst, very similar to Japan's experience ) . but there sure won't be any inflation - which i note remains extraordinarily subdued even in this current cyclical 'reflation' phase, in spite of soaring energy input costs and rising commodity prices in general. how anyone can expect inflation considering the vast industrial overcapacities all over the world is truly beyond me. there simply is no pricing power, neither corporations nor labor have any in fact. as Japan has demonstrated for anyone who cared to look, it doesn't matter if the central bank prints money like there's no tomorrow in a deflationary era -it still can't stop the underlying forces, it can merely delay or temporarily soften their impact. Japan btw. demonstrates how enormous even the effects of 'mild' deflation can be over time. imagine the prices for fish, beer, rents, houses, etc. falling between 50-90% over a decade - that is what has happened there.
the deflationary era marches on...you probably won't believe the extent and pervasiveness of deflationary psychology when it reaches its peak moments. we ain't seen nothing yet.
Date: Thu Oct 02 2003 11:34
trotsky (stock market & gold stocks) ID#377387:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
both the broad market and the gold sector continue to act well imo...i see no compelling reason yet to sell/short either here.
w.r.t. yesterday's rally in the broader market, it seems to be meeting with continued disbelief, as today's equity only put/call ratios are moderately high, and actually very high considering the market trades slightly to the upside. gold stocks may still be in a corrective phase, but it appears as if there's great reluctance on the part of current holders to sell. one must conclude that the recent shake-out represented a combo of profit taking ( day 1 ) and losing the 'weak hands' ( day 2 ) . note that the gold stocks are bravely withstanding an onslaught of broker downgrades and newsletter writer sell recommendations over the past week.
Frank we may get a dollar bounce here off a double bottom but I think the overall trend is going our way. <g>
We differ Frank because you know TA and follow several markets. You also are sharp on when to take a profit. I have been lucky as I have stayed fully invested and had a couple good picks of my own and mostly ridden CC's other picks which have been very good this year. As you noted my MO is to decide if I like what CC has written up, IE: geo political location, size, mineral type, management, stage of the play and then buy in. For example SVL and AQI have management with a strong history of discovery and had pre drilled properties. Good bets. CBR which I sold too early had a partner in Goldfields. CBD has been a favorite all along but I bought early this year when we had the big market selloff in gold and $2.40 seemed like a good price. So once in a blue moon I do okay.
GREAT JOB ON THAT 30%. I hope to follow in your footsteps this last quarter.
<... Hey, I’ll try and stifle my envy in regards to Loantech's ballz to the wall investment style ... >
Frank thanks for the observation. <g> Of course I have had a couple losses this year and the complete downturn at the first of the year so it has been a hard ride to eclipse last years high water mark. But I have now I need some cooperation the next 3 months to see if I should have traded or done the buy and hold and rotate staying fully invested. Should be a lot of news on SVL, AQI, INM, GOZ, GRS and CKG my current holdings the next couple of months though that may defy a lower POG, if that is what we are handed.
I just hope that whatever methods all of us use we come out on top.
Tom
Thanks Louis nice post.
Thanks Wayne my mailbox indicator is working fine. I need the Is* tailwind so I am posting a live buy buy buy everyone follow me in on INM. So I can sell my shares to you. Just like when I bought GOZ my big stash at .70 and it is now .60 so where was my tailwind. <g> Maybe I should sell and lose 15% of GOZ. Sell Sell. LOL. LOL.
tom
Wayne the INM news was expected. I am waiting for additional assays and a trenching and drill plan in a NR soon. Maybe an acquisition BWTHDIK? <g>
Wayne good post. Please send me another message as my mailbox may not be indicating I have a message today to respond to.
Tom
PS:Off to read the INM news hope it is good.
Doesn't seem to be a shortage of buyers for INM today or recently.
tom
Wish I could but don't own any. Not selling anything this week. <g>
Hope you guys do well on CNI!
My view is if someone waits for POG to go under 370 stock prices will really fall. If you are a bull just hold. If you are bearish or a timer sell into good strength. I am going to start taking profits when I get 25-50% pops from entry. Rotate positions. LOL. New plan weekly just like the diet plans. <g> WTHDIK?
Wayne,
I sold off my CBD as I made 10% on the shares that I had bought very recently and 2 bucks a share on the stuff I had bought earlier this year at 2.40-2.45. I am trying to get cute and sell it and then buy back. Believe me I have every intention of holding my largest position ever by the end of this year. Just trying to play some of CC's stuff that may have more news by year end and trying to play a bigger % pop on them and then be adding heavy on CBD and CKG in November and December.
I have sold down CKG too but have 33K and will hold that and add as winter drilling approaches. Unlike other stocks that we sometimes sell as drilling assays are coming up with CKG I will add into and after assays from the 1st drilling that may not start until December. I have no idea on time as Randy has changed his mind a time or two. <ng>
INM is holding up but GOZ looks sick but they may be looking at a flagship property (a new one not mentioned)to drill before year end. They need to tie up loose ends but may acquire in the near future. Hope so. GRS looking good. I posted a link to a new article a few posts back.
Maybe we are hitting a double bottom on the dollar and POG will sell off with a dollar rise. But that is why I currently have stocks that I think have a good story to them and will be all news driven the next couple of months.
Tom
CD,
You could be right. I certainly don't know what is happening. But someone who has been there is very bullish.
http://www.jsmineset.com/home.asp
Good article on GRS. GLR resources.
http://www.grandich.com/docs/9-30-03GLR.pdf
tom
PS:Stock was up nicely today. I bought this from CC's recommendation.
<maybe even CKG, SVL and AQI> Sell away. <g>
Oh oh time to take cover. <g> I have my reasons to hold all three.
Looks like we are trying to ramp a refi boomlet back up. We hit 5.50 on a 30 year fixed today. Wonder if the missus would let me take out all the equity on our home to add to CKG in here. LOL.
Some things just don't change.
tom
I am holding right here and bowing and scraping 5 times a day facing East as I don't want Frank saying "I told you so". <g>
I am callng Glen at GOZ in a few minutes to see what's up on NR's.
tom
PS:I want to start adding CKG pretty darn soon.
cd,
My stocks are news driven. And the news is coming and it better be good. LOL. AQI acquisition and resource calculation, INM assays and drill plan, GOZ property acquisitions and samplings, SVL drilling, assay work and potential acquisitions, GRS assays and financing and mine plan, CKG property acquisitions and drill plan. When we going to hear?? LOL. I am not selling until I get a 50% increase from here on all these or more. <g> And I will. Be bold. We are in a bull market that is trying to throw off as many riders as it can. The BMB's (Big Money Boys) do not want any of you retail donkeys to catch the train for the full ride. Maybe a short stop or two. Well I am buying in early and riding it to the top just like Marc Faber says to do in this gold market.
tom
PS:I don't need to slice and dice every move to win. <g>
I love it. Great post Mr. Trader.
Join the crowd. <g> I think the Chinese demand may potentially start the gold savings trend but it may take a good amount of time and be buried by the number crunchers in Wa. DC.
Thanks Al. <g>