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LVCA Video Chart by 'MrBigz' from the weekend.
Thanks for the LVCA Video Chart 'MrBigz'.
LVCA - Kilimanjaro Mining Company to Acquire the Heart of the Singida "Gold Rush" District
TanzaniaCARSON CITY, NEVADA--(Marketwire - July 30, 2009) - Kilimanjaro Mining Company Inc. has entered into a Mineral Properties Sale and Purchase Agreement (MPSP), through one of its directors, to acquire up to 100% of fifty (50) Primary Mining Licenses (PMLs) in the Singida "gold rush" district, Tanzania. On July 8, 2009, Kilimanjaro and Lake Victoria Mining Company, Inc. (OTCBB:LVCA) executed a definitive share exchange agreement between the two companies. Subject to the final closing, contemplated to be by August 11, 2009, Kilimanjaro will become a 100% wholly owned subsidiary company of Lake Victoria. Additional information regarding Lake Victoria Mining Company is available on the corporate website at: www.lakevictoriaminingcompany.com.
Since entering the MPSP agreement, Kilimanjaro has been conducting targeted exploration work to advance to gold mining and production stage on all, or part of the group of PMLs, by means of a Special Mining License.
During a visit in May 2009, Kilimanjaro's president Heidi Kalenuik remarked: "We already have a huge gold footprint in Tanzania, holding nine separate gold projects, but, this new Singida area is by far the richest and most prolific of all the properties that I've visited. There is a modern day "gold rush" happening here and we plan to become a major player and producer within it." In addition, Ms. Kalenuik shared: "After receiving assay results from our initial grab samples we began working closely with one of our directors, and we have successfully secured the heart of the small scale mining activity in this area. On purpose, we have been quietly locking up as much of the small scale producing mines as possible. A work program was immediately contracted to commence a diligent shaft, tailing and dump pile work program and a steady stream of assay results is forthcoming. Tightly spaced ground magnetic surveys have been ongoing since the end of June. We believe that we will be capable of making initial production decisions very shortly. We discovered this area as we began to enter discussions with Lake Victoria and we believe that the timing couldn't be better for all parties involved. We are very optimistic relative to the area's potential."
LVCA - Kilimanjaro Mining Company to Acquire the Heart of the Singida "Gold Rush" District
TanzaniaCARSON CITY, NEVADA--(Marketwire - July 30, 2009) - Kilimanjaro Mining Company Inc. has entered into a Mineral Properties Sale and Purchase Agreement (MPSP), through one of its directors, to acquire up to 100% of fifty (50) Primary Mining Licenses (PMLs) in the Singida "gold rush" district, Tanzania. On July 8, 2009, Kilimanjaro and Lake Victoria Mining Company, Inc. (OTCBB:LVCA) executed a definitive share exchange agreement between the two companies. Subject to the final closing, contemplated to be by August 11, 2009, Kilimanjaro will become a 100% wholly owned subsidiary company of Lake Victoria. Additional information regarding Lake Victoria Mining Company is available on the corporate website at: www.lakevictoriaminingcompany.com.
Since entering the MPSP agreement, Kilimanjaro has been conducting targeted exploration work to advance to gold mining and production stage on all, or part of the group of PMLs, by means of a Special Mining License.
During a visit in May 2009, Kilimanjaro's president Heidi Kalenuik remarked: "We already have a huge gold footprint in Tanzania, holding nine separate gold projects, but, this new Singida area is by far the richest and most prolific of all the properties that I've visited. There is a modern day "gold rush" happening here and we plan to become a major player and producer within it." In addition, Ms. Kalenuik shared: "After receiving assay results from our initial grab samples we began working closely with one of our directors, and we have successfully secured the heart of the small scale mining activity in this area. On purpose, we have been quietly locking up as much of the small scale producing mines as possible. A work program was immediately contracted to commence a diligent shaft, tailing and dump pile work program and a steady stream of assay results is forthcoming. Tightly spaced ground magnetic surveys have been ongoing since the end of June. We believe that we will be capable of making initial production decisions very shortly. We discovered this area as we began to enter discussions with Lake Victoria and we believe that the timing couldn't be better for all parties involved. We are very optimistic relative to the area's potential."
LVCA - Overview of Kilimanjaro Mining Company Inc.
Kilimanjaro Mining Company Inc. is a young and dynamic company.
This gives us the advantage of being free from the bureaucracy that inflicts most of our contemporaries.
The Company has been founded on solid experience and has tapped into the talent and business management, of successful consultants, managers and business owners both at home and abroad.
This has provided stability without the sacrifice of being able to act swiftly and the ability to be responsive to economic trends that are emerging in the market place.
LVCA - Overview of Kilimanjaro Mining Company Inc.
Kilimanjaro Mining Company Inc. is a young and dynamic company.
This gives us the advantage of being free from the bureaucracy that inflicts most of our contemporaries.
The Company has been founded on solid experience and has tapped into the talent and business management, of successful consultants, managers and business owners both at home and abroad.
This has provided stability without the sacrifice of being able to act swiftly and the ability to be responsive to economic trends that are emerging in the market place.
LVCA - Shared financial objective of acquired corporate subsidary:
Kilimanjaro Mining Company, Inc.
To establish one or more proven reserves and progress from a mineral resource and exploration company to a mining company and/or a sale of the proven reserve to a major mining company.
Kilimanjaro Mining Company has launched itself from a solid base that provides a unique ability to act quickly on resource trends that are emerging in the marketplace.
We have a fast moving team on the ground, closely tapped into a network of available mineral and base metal resource properties. Our strong strategic plan has been developed and implemented from the outset.
The key company objective is to move swiftly to acquire only mining and exploration properties that qualify according to specific acquisition criteria that has been developed between the management and the geological team.
Once acquired, our immediate goal in each property is to conduct sufficient field work to establish a proven reserve. The value of a property containing a proven reserve is dramatically more than that of one with a potential resource.
It allows us to immediately take steps to either establish an operating full scale mine or make a sale of the proven reserve while still in the ground to a major mining company.
In either case the company will realize major leverage from its’ initial investments in acquisition and field work from the proven reserve.
LVCA - Shared financial objective of acquired corporate subsidary:
Kilimanjaro Mining Company, Inc.
To establish one or more proven reserves and progress from a mineral resource and exploration company to a mining company and/or a sale of the proven reserve to a major mining company.
Kilimanjaro Mining Company has launched itself from a solid base that provides a unique ability to act quickly on resource trends that are emerging in the marketplace.
We have a fast moving team on the ground, closely tapped into a network of available mineral and base metal resource properties. Our strong strategic plan has been developed and implemented from the outset.
The key company objective is to move swiftly to acquire only mining and exploration properties that qualify according to specific acquisition criteria that has been developed between the management and the geological team.
Once acquired, our immediate goal in each property is to conduct sufficient field work to establish a proven reserve. The value of a property containing a proven reserve is dramatically more than that of one with a potential resource.
It allows us to immediately take steps to either establish an operating full scale mine or make a sale of the proven reserve while still in the ground to a major mining company.
In either case the company will realize major leverage from its’ initial investments in acquisition and field work from the proven reserve.
Kilimanjaro Mining Company to Acquire the Heart of the Singida "Gold Rush" District
TanzaniaCARSON CITY, NEVADA--(Marketwire - July 30, 2009) - Kilimanjaro Mining Company Inc. has entered into a Mineral Properties Sale and Purchase Agreement (MPSP), through one of its directors, to acquire up to 100% of fifty (50) Primary Mining Licenses (PMLs) in the Singida "gold rush" district, Tanzania. On July 8, 2009, Kilimanjaro and Lake Victoria Mining Company, Inc. (OTCBB:LVCA) executed a definitive share exchange agreement between the two companies. Subject to the final closing, contemplated to be by August 11, 2009, Kilimanjaro will become a 100% wholly owned subsidiary company of Lake Victoria. Additional information regarding Lake Victoria Mining Company is available on the corporate website at: www.lakevictoriaminingcompany.com.
Since entering the MPSP agreement, Kilimanjaro has been conducting targeted exploration work to advance to gold mining and production stage on all, or part of the group of PMLs, by means of a Special Mining License.
During a visit in May 2009, Kilimanjaro's president Heidi Kalenuik remarked: "We already have a huge gold footprint in Tanzania, holding nine separate gold projects, but, this new Singida area is by far the richest and most prolific of all the properties that I've visited. There is a modern day "gold rush" happening here and we plan to become a major player and producer within it." In addition, Ms. Kalenuik shared: "After receiving assay results from our initial grab samples we began working closely with one of our directors, and we have successfully secured the heart of the small scale mining activity in this area. On purpose, we have been quietly locking up as much of the small scale producing mines as possible. A work program was immediately contracted to commence a diligent shaft, tailing and dump pile work program and a steady stream of assay results is forthcoming. Tightly spaced ground magnetic surveys have been ongoing since the end of June. We believe that we will be capable of making initial production decisions very shortly. We discovered this area as we began to enter discussions with Lake Victoria and we believe that the timing couldn't be better for all parties involved. We are very optimistic relative to the area's potential."
Oh yeah, certainly agree.
Just way too much happening in the region and with the company not to realize the massive potential here, isn't there?
Overview - Kilimanjaro Mining Company Inc.
Kilimanjaro Mining Company Inc. is a young and dynamic company.
This gives us the advantage of being free from the bureaucracy that inflicts most of our contemporaries.
The Company has been founded on solid experience and has tapped into the talent and business management, of successful consultants, managers and business owners both at home and abroad.
This has provided stability without the sacrifice of being able to act swiftly and the ability to be responsive to economic trends that are emerging in the market place.
Shared financial objective of acquired corporate subsidary:
Kilimanjaro Mining Company, Inc.
To establish one or more proven reserves and progress from a mineral resource and exploration company to a mining company and/or a sale of the proven reserve to a major mining company.
Kilimanjaro Mining Company has launched itself from a solid base that provides a unique ability to act quickly on resource trends that are emerging in the marketplace.
We have a fast moving team on the ground, closely tapped into a network of available mineral and base metal resource properties. Our strong strategic plan has been developed and implemented from the outset.
The key company objective is to move swiftly to acquire only mining and exploration properties that qualify according to specific acquisition criteria that has been developed between the management and the geological team.
Once acquired, our immediate goal in each property is to conduct sufficient field work to establish a proven reserve. The value of a property containing a proven reserve is dramatically more than that of one with a potential resource.
It allows us to immediately take steps to either establish an operating full scale mine or make a sale of the proven reserve while still in the ground to a major mining company.
In either case the company will realize major leverage from its’ initial investments in acquisition and field work from the proven reserve.
LVCA - Singida Regional and District Commissioners Want Lake Victoria Mining Company to Open A Gold Mine at Londoni Town, Tanzania
On Thursday May 13, 2010, 9:16 pm EDT
GOLDEN, COLORADO--(Marketwire - 05/13/10) - On May 3rd, 2010 directors from Lake Victoria Mining Company (OTC.BB:LVCA - News), Heidi Kalenuik and Ahmed Magoma, along with Senior Geological Consultant Mr. Clive King, met in Singida, Tanzania with the Honorable Dr. Parseko Kone Regional Commissioner and District Commissioner Paschal Mabiti. Discussions focused on the progressive exploration activities of Lake Victoria Resources (T) Ltd., the wholly owned Tanzanian subsidiary of Lake Victoria Mining Company, and the Commissioner's desire for the company to advance to the point of opening a commercial gold mine in the nearby Londoni project area.
During the meeting both the Regional and the District commissioners expressed their gratitude for the international investment that Lake Victoria Mining Company has brought to the country and the commitment of Tanzania to support all foreign investment. Dr. Kone further reiterated that Lake Victoria Mining Company could expect the full support and co-operation from himself and his office in the company's advancing exploration activities in the Singida region.
The commissioner also highlighted some of the infrastructure enhancements and developments that were underway through government in the region to attract foreign investment and enhance the investors experience in the area. One such improvement is the completion of new paved roads connecting Singida to the three major Tanzania cities of Dar es Salaam, Arusha and Mwanza, making it a crossroads for development.
The Regional Commissioner acknowledged the investment that had already been felt by the exploration activities of Lake Victoria Mining Company on the Singida Gold Project, in the areas of Londoni and Sambura, known as one of the poorest areas in Tanzania. There was further discussion on other areas in the region that are highly prospective for gold exploration in the region and the Company's ability to acquire mining licenses in these locations if desired.
LVCA - Singida Regional and District Commissioners Want Lake Victoria Mining Company to Open A Gold Mine at Londoni Town, Tanzania
On Thursday May 13, 2010, 9:16 pm EDT
GOLDEN, COLORADO--(Marketwire - 05/13/10) - On May 3rd, 2010 directors from Lake Victoria Mining Company (OTC.BB:LVCA - News), Heidi Kalenuik and Ahmed Magoma, along with Senior Geological Consultant Mr. Clive King, met in Singida, Tanzania with the Honorable Dr. Parseko Kone Regional Commissioner and District Commissioner Paschal Mabiti. Discussions focused on the progressive exploration activities of Lake Victoria Resources (T) Ltd., the wholly owned Tanzanian subsidiary of Lake Victoria Mining Company, and the Commissioner's desire for the company to advance to the point of opening a commercial gold mine in the nearby Londoni project area.
During the meeting both the Regional and the District commissioners expressed their gratitude for the international investment that Lake Victoria Mining Company has brought to the country and the commitment of Tanzania to support all foreign investment. Dr. Kone further reiterated that Lake Victoria Mining Company could expect the full support and co-operation from himself and his office in the company's advancing exploration activities in the Singida region.
The commissioner also highlighted some of the infrastructure enhancements and developments that were underway through government in the region to attract foreign investment and enhance the investors experience in the area. One such improvement is the completion of new paved roads connecting Singida to the three major Tanzania cities of Dar es Salaam, Arusha and Mwanza, making it a crossroads for development.
The Regional Commissioner acknowledged the investment that had already been felt by the exploration activities of Lake Victoria Mining Company on the Singida Gold Project, in the areas of Londoni and Sambura, known as one of the poorest areas in Tanzania. There was further discussion on other areas in the region that are highly prospective for gold exploration in the region and the Company's ability to acquire mining licenses in these locations if desired.
Look forward to LVCA testing your hearing next week 'DFB', chuckle
Agreed, should do well leading the way to/past that $1200 gold threshold of late, you know?
Administrative typo, etc., is all it is. Check the full links and filings. Correct, it doesn't mean anything for/by/with the other!
http://www.sec.gov/Archives/edgar/data/1402062/000100201410000361/lvmci8k-5112010.htm
http://www.sec.gov/Archives/edgar/data/1421766/000100201410000360/lvmci8k-5112010.htm
That last post should raise a few eyebrows as well. The area is rich, growing, developing and wanted!
Certainly bodes well for LVCA, don't you think?
hhmmmm...
Tanzania Refinery Project Receives Funding
The country's vast gold mines are located around the Lake Victoria basin.
by Nicholas Bariyo
Dow Jones NewswiresMay 12, 2010
U.S.-based Noor Oil & Industrial Technology Inc. is planning to construct a 200,000 barrels a day refinery and an oil pipeline in Tanzania to supply refined fuel products to the domestic and regional markets, the company said Wednesday.
The company has already got funding for the $3.5 billion project which includes plans to run a pipeline from the coastal port of Dar Es Salaam to Mwanza on the shores of Lake Victoria and Kigoma on Lake Tangayika, in northern Tanzania, according to Minoo Davar, president of NOIT as the company is known.
The country's vast gold mines are located around the Lake Victoria basin.
"Plans, design and feasibility studies are in progress. The refinery will be a state-of-the-art facility and will yield 98% white products. The design of the project will allow room for expansion if the need may arise," the company said in a statement.
Talks with the government over the start of the project are in the final stages, Davar, who is in Tanzania, said late Tuesday in remarks broadcast on national television.
The company has already secured land in the coastal district of Mkuranga and an environmental impact assessment report for the project is being concluded, she added.
The refinery will process imported crude mainly from the Middle East.
The Tanzanian government will hold a 10% stake in the refinery and a 5% stake in the pipeline.
Negotiations to expand the pipeline into neighboring countries are in advanced stages, the company said.
Tanzania increases gold exports
Reported On Wednesday, May 19, 2010
News - Africa news .Dar es Salaam, Tanzania - "Tanzania's goods exports rose to US$ 2.8 billion during the year ended March 2010, compared to the US$ 2.6 billion realized during the corresponding period in 2009, largely due to increase in the volume of gold and traditional export crops, the Bank of Tanzania said here Tuesday."
...
"According to the Bank's report, the improved performance was largely attributed to increase in the value of minerals, particularly gold, that went up by 40.2 percent to US$1.2 billion, following a rise in the export volumes and prices in the world market."
"Available statistics indicate that export volume of gold increased to 37.0 tonnes from 30.4 tonnes recorded in the preceding year",
Gold
Gold is one of the chemical elements. Gold's chemical symbol is Au and its atomic number is 79. Its chief characteristics are that it is inert and malleable. Inert means gold does not interact with other chemicals or compounds. Gold doesn't tarnish and even the strongest acids have no effect. Thus, gold lasts forever - and stays shiny the whole time!
Gold has many industrial uses, but its main historical uses have been for jewellery and money - both are a store of value. Gold has been used as a store of value for at least 5000 years. Gold is measured and prices are quoted in Troy Ounces and Grams. As an example of gold's ability to store value, 2000 years ago one ounce of gold would buy a fine man's outfit. Today one ounce of gold will still buy a good quality man's wool suit with enough left over to buy a few shirts, a tie, some underwear, socks, a pair of shoes and a belt!
Gold has been called a "barometer of fear." When people are anxious about the economy - they turn to gold and bid the price up. The two main things that make people anxious are deflation and inflation. Most think that deflation is "falling prices" and inflation is "rising prices." Actually, rising and falling prices are symptoms. The root causes are decreases (deflating) or increasing (inflating) of the money supply. Gold has the remarkable ability to store value in both deflationary and inflationary times.
The correct way to think about owning gold is as insurance. Gold is a store of value virtually independent of economic conditions. Unlike shares of a company or government bonds - gold will always retain value. Gold's most important use is insurance against the paper (fiat) currency of the country you live in. Almost every country has had at least one major "currency crisis" over the last one hundred years. Those that had some of their wealth in gold survived. Unfortunately many people saw their saving become worthless - sometimes in a matter of days.
So, think of gold as insurance. Do not think of gold as a way to "make money." Do not try and "time the market." It is better to buy gold in small amounts regularly, every month for example, over a period of time.The percentage of your total wealth devoted to gold is a personal decision and depends on your particular situation. A conservative goal would be ten percent. In times of uncertainty the percentage should be much higher.
Do not worry about selling gold when that time comes. Gold is recognized and valued everywhere in the world. It is easier to sell gold than to buy gold! Of course gold can be used in barter or trade as it has for thousands of years.
To summarize, gold is an insurance policy against economic uncertainty. Gold can protect against both deflation and inflation. Everyone should store some of their wealth in gold if at all possible.
An article excerpt on Gold futures.
"...gold futures touched all-time highs, climbing as the euro currency dropped sharply. Traders are flocking to gold on concerns that stimulus spending and financial bailouts, including the latest $1 trillion European Union aid package, are undermining currencies and could spark hyperinflation.
This Week In Mutual Funds: Gold's fat fingerGold-oriented funds and ETFs are the market's best performers over the past month, fueled by the breakdown in Greece and the value of Europe's common currency, the euro...
"Gold prices are soaring because of growing inflation fears -- both the European Central Bank and the Federal Reserve seem to be on the path to permanently easy money with the Greek bailout and huge U.S. budget deficits,"
Take a look at the daily DJIA Blue Chippers, amazing.
That is what's reflective "fall-out" here today with LVCA, in my opinion.
http://finance.yahoo.com/q/cp?s=^DJI+Components
Now could/should be a good time to buy-in/load-up with what all are anticipating and expecting to come, don't you think?
Gold is king!
Ref: Stocks dive, Dow off 376 on world economic worries
By TIM PARADIS and STEVENSON JACOBS, AP Business Writers Tim Paradis And Stevenson Jacobs, Ap Business Writers – 16 mins ago
NEW YORK – Stocks plunged again Thursday as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world and stop the growing recovery in the U.S.
The Dow Jones industrial average fell 376 points, its biggest one-day point drop since February 2009, and all the major indexes were down well over than 3 percent. Meanwhile, interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.
With Thursday's drop, the Standard & Poor's 500 index, considered the best indicator of the stock market's performance, is down almost 12 percent from its 2010 high close of 1,217.28, reached April 23. That means the market is officially in what's called a correction, a drop of 10 percent or more from a recent high. This is the first correction since stock indexes hit 12-year lows in March last year. The fact it has occurred in just 19 trading days shows how anxious traders are right now.
Analysts said there was no big event to set off Thursday's selling. More investors seemed to be grasping the possibility that the U.S. recovery could be in jeopardy. And many were wondering whether the stock market's big rebound since March 2009 may not have been entirely justified.
"The economic recovery story has started to look like a mirage and the new reality is a return to credit crunch conditions" like those seen during the financial crisis, said Tom Samuels, manager of the Palantir Fund in Houston. "If that's correct, stock prices are well ahead of economic reality."
Investors are concerned that the debt problems in European nations like Greece and Portugal will spill over to other countries, cause a cascade of massive losses for big banks and in turn halt the economic recovery in countries beyond Europe, including the U.S. They're also worried that China might take steps that will limit its economic growth, which would also affect the U.S. recovery. Analysts said the market is vulnerable to rumors about any of the major economies right now.
Investors appear increasingly convinced that European countries will need to adopt stringent spending cuts to pay down their heavy debt loads, independent market analyst Edward Yardeni said. Such cuts would likely to lead to long economic slump for those countries, a prospect that investors may now be accepting as reality as they sell stocks and the euro, the currency shared by 16 European nations, Yardeni said.
The euro, which has become a key indicator of confidence in Europe's economy, managed to rise to $1.2496 in late afternoon trading, a day after hitting $1.2146, a four-year low. But its advance didn't help stocks.
"The drop in the euro is the initial phase of a long-term, multi-year economic decline in Europe," Yardeni said. "It shows a declining confidence in the workability of the EU (European Union) monetary union, and that's why their stock markets are down."
"It's starting to look like one of these tragic stories were one person falls through the ice, then everyone else rushes in to help and ends up drowning," he added.
The market's slide over the past four weeks on worries about the global economy has been a painful reminder of the turbulent days during the 2008 financial crisis. On April 26, the Dow closed at its highest point since the market hit bottom on March 9, 2009. Since then, it has fallen nearly 1,000 points. It has fallen by at least 100 points in nine of the 18 trading days since its peak.
According to preliminary calculations, the Dow fell 376.36, or 3.6 percent, to 10,068.01.
The S&P 500 fell 43.46, or 3.9 percent, to 1,071.59. The Nasdaq composite index fell 94.36, or 4.1 percent, to 2,204.01.
At the New York Stock Exchange, only 153 stocks rose compared with 2,994 that fell. Volume came to a heavy 2.1 billion shares.
The market got some confirmation from a Federal Reserve official that Europe's problems could be a "potentially serious setback." Fed Governor Daniel Tarullo said that if the debt crisis curbed lending and the flow of credit globally, that would endanger both the U.S. and global recoveries, he says.
"Although we view such a development as unlikely, the swoon in global financial markets earlier this month suggests it is not out of the question," he said in prepared remarks.
Analysts said traders were retreating from any investment thought to be too dangerous to own right now. That has meant heavy selling in stocks, commodities and troubled currencies like the euro.
"Investors are in the midst of a major de-risking period due to debt concerns in Europe and signs of a slowdown in China, and now that's accelerating," said Peter Boockvar, equity strategist at Miller Tabak. "The fundamental concern right now are these threats to global growth."
As investors pulled out of stocks and other risky investments like commodities, they moved into safer investments such as U.S. Treasurys. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.22 percent from 3.37 percent late Wednesday.
Commodities prices also fell as investors speculated that a weak world economy would curtail demand for raw materials. Crude oil fell $1.86 to $68.01 per barrel on the New York Mercantile Exchange.
Traders were trying to anticipate the scenarios that could occur as Europe struggles to contain its debt problems.
"There's a question out there now that potentially we could be talking about a collapse of the eurozone or countries breaking away from the euro," said Tim Quinlan, an economist at Wells Fargo & Co. As recently as four months ago, that wasn't even considered a possibility, Quinlan said.
Such a stark change in views has unnerved investors. But analysts said they weren't seeing signs that fear is sweeping the market.
"These are not panic losses," said Todd Colvin, a vice president at MF Global Inc. in Chicago. "These guys are taking some profits off the table and taking some capital where they know it will be safe. And where's that? That's cash or even Treasurys."
Still, the Chicago Board Options Exchange's Volatility Index — known as the market's fear gauge — leaped almost 30 percent to its highest level since March 2009. The increase in the VIX signals that traders are bracing for more drops in the market.
The Labor Department's latest employment report added to worries about the global economy.
The department said new claims for unemployment benefits rose by 25,000 to 471,000, their largest amount in three months. That came as an unpleasant surprise to investors who were expecting a slight drop to 440,000. High unemployment remains one of the biggest obstacles to a sustained recovery in the U.S. The latest report snapped a streak of four straight weekly drops and again calls into question the strength of the job market.
Weekly claims have been stuck around 450,000 since January, unable to break closer to the 425,000 range that is considered a sign that employers are regularly hiring new workers.
A private research group reported an unexpected drop in its index of leading economic indicators. The Conference Board's index of future economic activity slipped in April for first drop since the stock market's bottom last year. Economists polled by Thomson Reuters had expected a gain. The slip signals that growth could slow this summer.
The demand for safety rose after Greek workers again took to the streets protesting recently approved budget cuts that were necessary for the country to receive a bailout. Greece was able to repay debt that came due Wednesday only because it had access to a rescue package from the European Union and International Monetary Fund.
In overseas stock trading, Britain's FTSE 100 fell 1.6, Germany's DAX index dropped 2 percent, and France's CAC-40 lost 2.3 percent.
Have to agree, and the amount of volume to greater price changes ratio is not correctly reflective of LVCA's potential and/or direction today, yesterday or going forward.
Strongly believe that the market conditions, especially today, this last week have greatly affected things and will reiterate with a couple/few follow on posts.
LVCA is still strong, stable and steady, you know what I mean?
Excellent, Thank you!
Can anyone do a real-time L2 screen post real quick? Have a friggen system java problem(error) this morning that I'm trying to repair/correct.
Nice pick up 'rjn', thanks for posting.
"LVCA has a textbook reversal uptrend going for them. LVCA has a lot going for it especially since it is a gold play and more and more people are looking to gold as a safer investment for their portfolios. "
Good Morning to all, looking forward to a "golden" day here, aren't we?
Decent news today, looking for LVCA to continue onward and upward as it has been lately.
http://finance.yahoo.com/news/Lake-Victoria-to-Conduct-iw-3395434537.html?x=0&.v=1