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I thought you were done with me??? I remember you thinking I was a complete idiot for turning bullish about 7 or 8 weeks ago.
So howz your investment in EP doing?
Regards,
Michael
well the drop didn't hammer my gold stocks in pre-market -- scary though-- my portfolio is highly leveraged to the yeller dawg.
Regards,
Michael
Morning note: U.S. sales data bring holiday cheer
http://www.theglobeandmail.com/servlet/ArticleNews/business/RTGAM/20021212/wmar1/Business/businessBN...
it just bounced... amazing...
You wanna know what? All BS aside-- We've also got U.S. retail sales data due this morning-- and I'm betting they'll be good. They should be, here in my home town the malls are just packed with shoppers-- this one mall nearby were I live is actually running a shuttle service because of the lack of parking. They didn't do that last year.
Regards,
Michael
Matt... G&V is one of the few threads I still follow (on&off) I don't recall a food fight of any sort. BTW, gold just fell through the floor, big time-- markets will probably rally-- so if G&V is still dead after today then something off colour must of happened. Check out Sir Realist-- I noticed he started posting here again.
Regards,
Michael
Is it my imagination or did gold fall to 313???
...any word? I think it's called a bear market. To put it to you bluntly-- if I thought I could make more money going door to door selling newspapers, then why would I waste time with the markets?
fwiw, I noticed CFZ is still busy, over 300 posts yesterday.
Regards,
Michael
Gold exploration trends
CBS MarketWatch.com's Thom Calandra talks with Joanne Freeze, president of Candente Resource, about trends in gold exploration and the potential of her company as a take over target.
http://cbs.marketwatch.com/tvradio/playerfull.asp?siteID=mktw&guid=%7B4E37F729-2B20-412D-8CC0-5A...
Bear proves a bull on Western Copper
http://www.mips1.net/mgjr.nsf/UNID/TWOD-5GR4NH?OpenDocument
duplicate...
eur/usd is at 1.014 even after the dreadful auto news coming out of Europe. Companies like Fiat, BMW and Daimler Chrysler were down 5% -- BAE Systems down 25% after Europe's biggest defence firm warned of cost overruns, engineering companies -- the UK's Invensys lost 8.5% and Rolls-Royce lost 3%.
We've also got U.S. retail sales data due this morning.
I'm not betting against a rally today, despite the drop in futures overnight -- gold stocks continue to look, short term, oh! I dunno, weak? IMHO, gold, the commodity is range bound until the new year.
Regards,
Michael
KC... don't know squat about this speculation-- I noticed the 10 day average volume was about 2000 shares and for a 8 cent stock, I reckon that's pretty remarkable in itself ... now, having said that, I don't suspect anything simply because I'm sure the cross attracted some additional attention.
no drilling results? ...no additionaL financing? ...no trading halt yet?
We shall see...
Regards,
Michael
...it looks like a huge cross from broker 39 to broker 39...
Regards,
Michael
ATI Technologies -- Seasonality Stock Price Performance
http://insider.thomsonfn.com/tfn/stocks.asp?imodule=seasonality&ticker=atyt&ttype=A
bot ATI Technologies (ATY-TSX) @ $10.50
duplicate...
MIRAMAR PLANS PROGRAM TO TEST DEPTH POTENTIAL AT BOSTON
http://www.adviceforinvestors.com/press_release.phtml?symbol=MAE&_time=20021209103133
Edge Petroleum Announces Initiation of Coverage By Johnson Rice & Company LLC
http://ir.thomsonfn.com/InvestorRelations/IRFiles/7380/pdfs/12_06_02rpt.pdf
Silver swindle update
http://www.mips1.net/MGGold.nsf/UNID/TWOD-5GNRW4
STOP-LOSS Nortel (NT-TSX) @2.47 (-5%)
SHEESH... just lost my support @ $2.50
...same goes for Eldorado-- I'm also expecting an inclusion into the TSX mining index.
...and about Purcell-- some rental equipment, a D6 and a couple of pipelayers are heading up to Ft.Liard as we speak. They'll be tying in some of those newly drilled wells.
...getting killed on my Nortel daytrade, I'm betting we'll see green by the end of the day. Maybe not. :) I'll stop myself out at $2.47
Regards,
Michael
BOT Nortel (NT-TSX) @ $2.60
Wheaton River to Trade on American Exchange
http://biz.yahoo.com/bw/021209/92406_1.html
Canada natural gas drilling to jump 23 pct in 2003
By Ian McKinnon
CALGARY, Alberta, Dec 9 (Reuters) - Energy firms in Canada are expected to spend C$3.5 billion ($2.2 billion) drilling 23 percent more natural gas wells in 2003 than this year, but observers say higher prices next year mean companies will be hard pressed to maintain production in the crucial supply to the U.S. market.
http://money.iwon.com/jsp/nw/nwdt_rt.jsp?cat=USMARKET&src=201&feed=reu§ion=news&...
marcos... I haven't had much time to reply let alone think about your message, lot's of meat in it. I guess first off I'm not much for patterns, K and E wave theory don't interest me much. My whole thing with charts is to track the effect of press releases and hopefully ride momentum when it's handed to me.
So far... pre-market doesn't look so good-- I normally look at the pm stocks for direction, yet spot gold seems to be leading. Don't like that...
-- I'm also watching the price of oil, chit is hitting the fan in Venezuela-- oil and gold are now linked which is IMHO not the right reasons for gold to break out to new highs.
...and if it does it'll be temporary at best.
The lead story for this morning is, who are the new key playes in the Bush administration tream...I'm sure the announcement will be timely and the markets will rally. Gold won't fall but it ain't gonna rock yet, look for it do to so in another 2 weeks or so. Markets are normally strong this time of year-- see Zeev's post for the timelines, the weakness will correspond with war.
Regards,
Michael
Kastel... from the thread header "There are no rules." -- I believe both Jim and Soros appreciate the clever Canadian banter we offer them on this thread. :) I believe “Off-Topic” conversations are what they want.
No having said that... Medicare, and how I see it.
COMMODITY-- healthcare should be viewed as a commodity, and whenever something tangible is given away, you create an infinite amount of demand.
POLITICS-- Medicare is the most popular give-away ever created by politicians. The truly ill compete with the trivially ill for services. It's the ultimate Ponzi scheme (thru taxation) where folks die waiting for treatments because of long line-ups.
PRIVATIZED-- you should be able to trade hospital stocks-- the ones with the fattest profit margins and biggest dividend yields will carry the highest valuations. Hospitals could even operate as "trusts." In a free society you dictate the cost of your own labour.
INSURANCE-- our government could create a pool of capital that should only cover personal disasters. This would eliminate the folks that are sick due to lifestyle choices. The system has to be transparent and mandated by a no-loss/no-profit law.
RRSP-- mandated 10% rule of contributions that can be used for catastrophic healthcare needs.
Regards,
Michael
Jim... I just finally got the chance to check your site out-- nice graffx. Your PDF file is a terrific primer on what's happening to our economies-- nice job.
Regards,
Michael
I think y'all understand my position on natural gas after reading this terrific post from Zeev #msg-614572
I'll try and add some insight tomorrow on how we can play this from a natural resources point of view.
Michael.............
Kastel... it's about risk, about how you're able to handle risk and about how you can make risk pay you for taking it.
As much as I dislike "trusts" I know you've done well with them - from what I can tell, you manage risk quite well, knowing that you do have a family and a business to attend to first.
Best,
Michael
...I think you might of fixed it-- my last post worked perfectly.
Regards,
Michael
...yeah, I guess... my last hesitation was the last post I wrote in the mining forum. I went from edit to preview with a lag-- sometime I'll just keep hitting the preview button until I get the desired result.
It does have a graphic... It just occurred to me that I don't envy your job. Too many variables.
Regards and good hunting...
Bob... it's probably on my end-- I'm using ADSL with Telus up here in Edmonton. For the most part it's fantastic-- it just hesitates with certain sites and unfortunately yours happens to be one of them.
Regards,
Michael
marcos... about supply, I could go to the very extreme end of human thought and tell you that methane is one of the most plentiful gases in our galaxy, but I won't. (vbg) #msg-600846
A shortage of infrastructure? Yes. A shortage of gas? Not likely.
Anyway... back about three years ago when gas shot through the ten buck mark we had very little storage, colder than normal winter and a booming economy. Ask yourself what's different this time ... unlike gold, both oil and gas have positive betas-- the OSX (drillers index) which is considered "the canary in the coal mine" for the oilpatch is usually first to react to market conditions. Just remember, it'll act in both directions.
Chart:
The fact is, if you don't play the sector and you heard about the possibility of a gas squeeze through the media, you're too late to the game. Like I said in my previous post, the no-brainers have already moved, the shit plays just started moving and the drill-bit plays are going to move. It's not a game for amateurs and believe me, I play with tight stops, very tight stops.
As for who's right and who's wrong? The only difference between me and the average message board poster is that I call my buys and my sells in real-time -- and I'll be here to take the heat for the bad calls and I don't expect anything in return for the good ones.
The guys that don't post their sells (like Russ Winter) I ignore-- and guys like Claude Cormier? I subscribe to their newsletters.
btw, I don't have you bookmarked either...
Regards,
Michael
Matt... yeah... the site does have a pile of hesitation-- at least from my end.
Regards,
Michael
Kastel, all my picks are purely for trades. :) if your outta cash that's cool, from what I can tell you have enough homeruns in your portfolio to even put a smile on the face of Scrooge himself.
Best...
Michael
marcos...
Three rules for oilpatch investing.
To make money in this market you need to anticipate -- if you're finding yourself reacting to the circumstances your sheep.
Rule No.#1 - Anticipate, don't react.
fwiw, I've been trolling through my watchlist of favs and I gotta tell-ya things are getting a little ahead of themselves. Stocks like Keywest Energy (KWE-TSX) Peyto Energy (PEY-TSX), Thunder Energy (THY-TSX) even crap like Canadian 88 (EEE-TSX) have made some substantial moves in the past couple of weeks. When buying these stocks there has to be a glut of product on the market – you sell when there’s scarcity. We’re beginning the stage of scarcity awareness.
Rule No.#2 – We’re one cycle away from a boom or a bust.
We’ve seen the last of the M&A activity with Canadian Natural (CNQ-TSX) buying the heavily indebted Rio Alto. This signified the beginning of the new cycle, the cycle always begins when inventories reach new record highs. Therefore the massive inventories forces cuts to the budgets of the major producers and naturally they stop drilling. How do they catch up when inventories fall? They do extensive take-overs of small junior firms who were nimble enough to get financed in lean periods.
Rule No.#3 – Consolidation happens at either the top or the bottom of a sector’s market cycle.
About the PDF document… I’ve read these RJ pump jobs once a week for the last couple of years and for as long as I can remember they never write anything that’s bearish on this sector. They’re the CNBC of the oilpatch. Permabullz.
About Richard Saunders, yeah... smart guy-- I hope Claude and him become friends, it certainly has the potential of a dream team.
Regards,
Michael
Kastel... My best performer today was Impact Energy (up 25% intraday), it's a junior gas play-- I'm looking for the same kind of surprise from Purcell Energy (as it sits there lagging). Also, if you haven't taken a position in EPEX, you might want to start looking at it a little more seriously. Check out my post on Bollinger Bands-- "quiet markets beget busy markets, vice versa."
#msg-599256
Regards,
Michael
Well, with all the dilution that both Kinross and Bema have giving us and throw in the parabolic rises from both QGX and SWG with their Chinese discoveries-- Eldorado's financing to exponentially increase their cash-flow in Turkey is pretty much a cake walk.
I don't see a problem...buy on weakness-- with the usual disclaimers...
Regards,
Michael