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AS soon as PGCR breAKS .04 it's gonna mooooove imo
DOW green BAC C FAS....weeeee. PARL & PGCR up next!!
Wildman's week picks;
PGCR, PARL, JBLU, GSRE
Yo Sydney. Think we're gonna see this bottom for a while.
PGCR News Out Placer Gold Corp. (OTC: PGCR) Gold Mine Financing Update
Monday March 16, 2009, 9:15 am EDT
Buzz up! Print LAS VEGAS, NV--(MARKET WIRE)--Mar 16, 2009 -- Placer Gold Corp. (Other OTC:PGCR.PK - News), formerly Arctic Oil and Gas Corp. (AOAG) (the "Company"), is advancing financing, mining and development plans for a number of Alaska and South American placer gold projects, which are scheduled for development in 2009-2010.
Placer Gold Management has been visiting financiers in Zurich and New York to discuss mine financing proposals and expects to complete financing arrangements in due course.
The Company is creating a new gold asset that will be backed by in-ground gold reserves, and could be carried on an institution's books at full face value, while securing for investor-partners a long-term future supply of gold bullion with lower gold acquisition costs than buying gold via exchanges.
Strong interest has been received, especially from groups interested in increasing their bullion holdings via the group's proposed new mine production sharing arrangements.
The company is in due diligence phase with two qualified groups who have expressed interest in making firm commitments for mine financing. Another group has offered matching funding to initial funding.
GOLD PROJECTS
Denali Placer Gold Mine Expansion: The mine has a 400 yards per hour mining-processing plant already on site. The Company plans to upgrade the existing mine production equipment to a 60,000 ounces per year mining operation commencing in 2009-2010, with estimated Gold production costs of $300/ounce. Tenements are fully permitted Claims with 500,000 ounce drill indicated placer resources.
Norton Sound Alaska Oceanic Placer Gold Mine: The company is finalizing plans to construct new large-scale suction-cutter gold dredges to produce 250,000 ounces in the 2010 summer season. Norton Sound offshore placer gold grades are approximately 0.50 grams/M3 ($13.40/M3 at $835/oz; estimated from over 3,000 drill samples), which should result in Gold production costs of less than $200/ounce. The tenements are OCS 720 square mile Leases Application and 2,000 acre Granted State Waters Leases, with 1.5-10 million ounce placer Gold resource potential.
Nome Leases: Alaska State research of previous Nome drilling programs by Westgold and others estimated a total gold resource of approximately 3.3 million ounces just within the 3 mile limit of the Nome offshore placers in the drill tested portion of the auriferous State waters placer area. The Company has options over approximately 20% of this resource area.
See summary report online at: http://www.scribd.com/doc/10120873/Nome-Offshore-Placer-Drill-Data
Additional Central-South American placer gold properties are being investigated.
Please visit http://www.placergoldcorp.com/
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with resource exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect PGCR's financial results is included in its filings with the Securities and Exchange Commission.
Yo Getthepaper GM. Missed most of Friday. Where are your radads this week?
GM Lucy!Hope you have a great week.
Jim Cramer will face off with Jon Stewart
Cramer is booked to visit Stewart on ‘The Daily Show’ Thursday
full story here; http://www.msnbc.msn.com/id/29644242/
Sydney, I Think this is a temporary bottom, but I am f#@kng jazzed. Retail spending is up too!!!!!!!!!!! Even if this is just a temporary floor, there is going to be a ton of money made, and I'm gonna get mine! More to come
weeeeeeeeeeeeeeeeee
Blue Horse Shoe told me to go long Monday as well and buy financials and have done amazing so far! hehe =p
Hi All!! #3 day ralley!!!!!who's excited????
Have we found it, or is 5,000 still looming?????
Tomorrows gonna be a strong day imo. Can feel it.
Wildmans picks below with charts
PGCR
ABK
PARL
GM turns down billions???? huh What am I missing?.......anyone care to throw in thier 2 cents.
Have the markets found thier rally point, or are gonna go down still??????
DOW on a run. 7,161.22 +230.82 +3.33%
Previous Close 6,930.40 Volume 366.03 Mil
Open 6,932.39 52 Week High 13,136.69
Day's High 7,166.39 52 Week Low 6,469.95
Day's Low 6,872.25
FAS!! YAVY !! ++++++++
Gl and thanks to you too!
PARL go go go! Following trends of the up and coming stimulus stocks, and of course GOLD stocks.
IMHO, Mr. Wildman picks PGCR, PARL, & COYN to beat the rest over the next few weeks
So Bgreen is the "gospel" of this week? Not sure I understood your last. Looking to go in here. Please let me know.
Thanks Lucy. PARL +18% and gonna keep going imo!!!
so profits as they come back?
Hi all, just heard about this IVOT, lots of buzz. Not gonna miss another viop opportunity!
when do we think iVoice is due?
PARL moving. Showing like a potential multi bag opp imo.
PGCR the big play though
ABK, nice Capt'n. Chart looks good, anything big coming up for them?
DOW holding above 7,000
Absolutely, we could use a few days of green, no kidding. Watching for entry on banks on the way down. Anything that can/will get stimulus $$, and of course GOLD!!!!!!!!!!!!!!
Thanks Agusta. SIRI a new interest =p
GL today
3rd day green in a row would be great. Although I still can't help but think we need to let her flush to 5,000 or so. It will hurt, but at least wewill have "true" valuations
morning captn!!! OMG, imagine 20% on the millions of accounts each bank has.....
I marked you! Love your profile. Cars and anything that makes me money. What are you playing today? for me it's PGCR, PARL, COYN
PARL, PGCR, COYN
yo getthepaper!!! GM whats on your radar???
check out PARL, gonna be a big one today imo. hearing its time has come. Looks good to me. Check em out and let me know
Thats assuming they aren't in on it, lol. IMO the uptick won't affect much, but it will get some reactionary buying
looks like you did ok?? Still carrying?
Check out PARL. Gonna move IMO
Excust the delay, had a day off yesterday.
Short term I could be wrong, but I still stay far from the bancs. You think they will hold this value?
Can't believe yesterdays news.....Citigroup CEO says bank operating at a profit
Pandit says in memo that Q1 performance so far is bank’s best since 2007
Does anyone suspect this is not correct?
IMO it is a bunch of BS
Thought I misunderstood. Thanks for the clarification. IMO 5,000 would be the best thing that could happen. Atleast from where we are now. Let the crap get flushed, load up on cheapies, and build up with truer values!
DOW $6,926.49 Looks like you got your wish! Hope your right!
Top 10 headlines that could signal a market bottom
By Kate Gibson, MarketWatch
Last update: 4:32 p.m. EDT March 9, 2009Comments: 1303NEW YORK (MarketWatch) -- With few technical or fundamental road signs left, two equity strategists have devised a top 10 list for investors searching for signs of a bottom -- not to be confused with a bear-market rally.
At turns both serious and tongue-in-cheek, BNY ConvergEx Group analysts Nicholas Colas and Oren Klachkin offer the following as their top 10 signs of a market bottom:
A significant (more than 10%) one- or two-day drop in the market. The current orderly decline, while severe, is largely running in line with the deteriorating U.S. economy, said Colas and Klachkin. Therefore, an even sharper drop would position stocks as cheap, relative to fundamentals -- "perhaps even cheap enough to make a bottom," the analysts said.
Timothy Geithner is replaced with Paul Volcker. Fairly or not, the market does not have a lot of confidence in Treasury Secretary Geithner, while former Federal Reserve Chairman Volcker's "proven abilities in a crisis could play better with investors," the analysts said. Volcker currently heads the Economic Recovery Advisory Board under President Barack Obama.
The 100th day of a bankruptcy by General Motors Corp. The first few weeks of a Chapter 11 filing by the automobile maker (GM:General Motors Corporation
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11:11am 03/10/2009
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GM 1.86, +0.18, +10.8%) would likely be chaotic, given the industry's linkage with so many parts of the economy. "After the initial problems, though, the market may have finally discounted the structural challenges of the U.S. economy," said Colas and Klachkin.
Gold at $2,000 an ounce. "Gold is the ultimate capital-markets panic play. A quick double in the metal would be a strong contrarian indicator that it was time to buy stocks," the analysts said. "I'm not sure I want to live in a world where gold is $2,000 an ounce. It would mean something is tremendously wrong. From an equity standpoint, the best thing you can say about gold right now is that it hasn't broken out to record highs even in the face of uncertainty," Colas said in an interview with MarketWatch. Read Metals Stocks.
The Dow Jones Industrial Average changes more than two names at the same time, and/or adds names to increase the overall number of stocks in the index. "There are some 'zombie stocks' in the index ($INDU:Dow Jones Industrial Average
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11:12am 03/10/2009
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$INDU 6,784.64, +237.59, +3.6%) , to borrow a popular phrase. The Dow is price-weighted, so small-priced stocks are almost irrelevant to the performance of the index. By the time the senior editors of Dow Jones recognize they need to change some names in the index, it may be time to [reconsider] the market as a whole."
New York Stock Exchange daily volume drops to 1 billion shares for 30 sessions in a row. "Sometimes you just need everyone to give up to make a bottom," the analysts reasoned.
One million jobs lost in a month. Such a bad number could indicate a bottom, given the lagging nature of the employment count.
The market starts to rally on bad news. "In prior cycles, bad news turned into good market performance when it showed that [the] Fed had the economic reason to cut interest rates. In this market, the Fed is out of bullets, so bad news is bad. When the market can rally on bad news, it is a great sign that valuations finally reflect the current environment," the analysts said.
Stock market favorites see 15% to 20% declines. When standout companies -- such as Wal-Mart Stores Inc. (WMT:Wal-Mart Stores Inc
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WMT 48.12, +0.61, +1.3%) and McDonald's Corp. (MCD:McDonald's Corporation
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MCD 52.85, +0.53, +1.0%) -- "get clobbered" you'll know a bottom is near, they said.
CNBC goes off the air. "The entire financial community has a love/hate relationship with the box in the corner of every trading room that is permanently turned to the network. The only certain bottom would be when so few people care that the network has to close." Read Jon Friedman's commentary on Jon Stewart's CNBC skewering.
On Monday, Geithner remained Treasury secretary, GM was still a going concern, and CNBC remained on the air. Stocks finished solidly lower after meandering between gains and losses, with energy stocks leading the gains and telecommunication services pacing the declines.
"People continue to be in panic-driven liquidation mode. These markets haven't been so oversold since tomorrow," said Art Hogan, chief market strategist at Jefferies & Co.
The Dow industrials fell 79.89 points, or 1.2%, to 6,547.05. The S&P 500 ($SPX:S&P 500 Index
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$SPX 703.71, +27.18, +4.0%) , dropped 6.85 points, or 1%, to 676.53, and the Nasdaq Composite (COMP:Nasdaq Composite Index
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COMP 1,325.65, +57.01, +4.5%) declined 25.21 points, or 2%, to 1,268.64, its lowest close since October 2002. See stock-market report.
Kate Gibson is a reporter for MarketWatch, based in New York.
This is the Week for PGCR. Last chance to load the boat here imo.
AIG Told U.S. Failure May Cripple Banks, Money Funds
March 9 (Bloomberg) -- American International Group Inc. appealed for its fourth U.S. rescue by telling regulators the company’s collapse could cripple money-market funds, force European banks to raise capital, cause competing life insurers to fail and wipe out the taxpayers’ stake in the firm.
AIG needed immediate help from the Federal Reserve and Treasury to prevent a “catastrophic” collapse that would be worse for markets than the demise last year of Lehman Brothers Holdings Inc., according to a 21-page draft AIG presentation dated Feb. 26, labeled as “strictly confidential” and circulated among federal and state regulators.
“What happens to AIG has the potential to trigger a cascading set of further failures which cannot be stopped except by extraordinary means,” said the presentation by New York- based AIG. “Insurance is the oxygen of the free enterprise system. Without the promise of protection against life’s adversities, the fundamentals of capitalism are undermined.”
Regulators revised AIG’s bailout last week to ease loan terms and extend $30 billion in fresh capital after the firm posted a $61.7 billion fourth-quarter loss, the worst in U.S. corporate history. Lawmakers are reluctant to give more support beyond the package already in place, worth about $160 billion, because they say regulators haven’t given enough detail about how the funds are being used or when the bailouts will end.
The Fed is “asking for an open-ended check” and is “not going to get” it, Senator Robert Menendez, a New Jersey Democrat, said last week in Congressional hearings.
Global Impact
AIG warned of turmoil around the globe if the government allowed the insurer to fail, adding “it is questionable whether the economy could tolerate another shock to the system that a failure of AIG would produce.” The value of the U.S. dollar might fall, Treasury borrowing costs could rise and the agency would face “doubts about the ability of the U.S. to support its banking system,” according to the presentation, parts of which were reported earlier by the New York Times. The municipal bond market would be stressed and Boeing Co. could lay off workers if AIG’s plane-leasing unit folded, the company said.
“It seems like they’re reaching on this litany of claims they’re making, some of which aren’t supported” by facts, said Haag Sherman, who helps oversee $8 billion as chief investment officer of Houston-based Salient Partners. “They are correct that without the government stepping in, you’d see big holes blown in the equity of American and European banks.”
Overseas Seizures
Under the scenarios sketched by AIG, European banks that bought credit-default swaps might need to raise $10 billion in capital and could face rating downgrades. Life insurance customers, their faith shaken in the industry, would redeem some of their $19 trillion in U.S. policies, overwhelming firms already weakened by the credit crisis, AIG said.
The $38 billion in support provided by the firm to money- market funds would be in jeopardy, AIG said, possibly forcing some to “break the buck.” The term refers to a money fund that suffers losses so large that it must pay investors less than the traditional $1-a-share value that gives the short-term funds their reputation for safety.
Outside the U.S., where AIG operates in more than 140 countries, a collapse could lead to the “immediate seizure” of its businesses by regulators and could impair “the entire insurance industry within certain regions,” the presentation said, which added that its conclusions were “speculative” and a matter of judgment.
Creating ‘Crisis’ Atmosphere?
“Who knows if what they’re saying is true?” said Phillip Phan, professor of management at the Johns Hopkins Carey Business School in Baltimore. “A lot of it sounds like conjecture, that if AIG collapses the rest of the industry will, too. It’s a way of creating a crisis atmosphere and the sense you have to respond quickly.”
Fed spokeswoman Michelle Smith said the central bank “came to its conclusions based on our own analysis.” The risks associated with an AIG failure were “unacceptably large” and could “deepen the current economic recession,” the Fed said today in a report posted on the Senate Banking Committee Web site. Christina Pretto, an AIG spokeswoman and Isaac Baker of the Treasury declined to comment.
If AIG were forced to liquidate its investments, it would have “enormous downward pressure” on asset classes including municipal bonds, the firm said. The company’s commercial insurance division owns more than $50 billion in muni bonds.
ILFC
AIG’s International Lease Finance Corp. is the world’s biggest aircraft lessor by plane value, and its failure would jeopardize $12.5 billion in orders, causing job losses at Chicago-based Boeing. ILFC would have to sell its 1,000 planes at distressed prices, “severely impacting” the aircraft industry. Banks and pension funds holding about $30 billion in ILFC debt would take losses, the company said.
European banks named by AIG as potentially needing capital if the insurer fails include the Royal Bank of Scotland Group Plc, Societe Generale SA, BNP Paribas SA, Banco Santender SA, Danske Bank A/S, Rabobank Group NV, Credit Logement SA and Credit Agricole SA’s Calyon.
Danske Bank has insured a third of its mortgage bonds through AIG, which promises a payout of $200 million in case of “extreme high losses,” the Danish lender said in a statement. The agreement can be annulled in 2010 and AIG has not yet paid out any money, Danske bank said.
Credit Logement Chief Financial Officer Eric Veyront said in a telephone interview that the firm “wouldn’t be directly touched by an AIG failure.” The company estimates it has about 10 million euros at risk “at a maximum” on credit-default swaps where AIG is counterparty, he said.
Buffett Supports Aid
Rabobank sold assets insured by AIG at yearend, effectively ending the contracts, said Raymond Salet, a spokesman for the Utrecht, Netherlands-based bank. The transaction didn’t impact Rabobank’s annual results, he said. Representatives from RBS, Societe Generale, BNP, Santander and Calyon didn’t immediately have comment.
AIG’s latest rescue package includes equity, new credit and lower interest rates on existing loans designed to keep it in business. Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Timothy Geithner have said the government must prop up AIG to avoid damaging the financial system.
Billionaire Warren Buffett, appearing on CNBC today, said the bailout of “quasi-financial” firms like AIG was necessary, even if everyone dislikes what had to be done to salvage it.
New York Insurance Superintendent Eric Dinallo said at a March 5 hearing he had received the presentation.
Bailout Beneficiaries
The document doesn’t say which other companies have benefited from AIG’s repeated rescues. Goldman Sachs Group Inc. and Deutsche Bank AG were among at least two dozen financial institutions that were paid $50 billion from the bailout funds received by AIG, the Wall Street Journal reported, citing a confidential document and people familiar with the matter whom it didn’t identify.
Goldman and Deutsche got about $6 billion each between September and December, the Journal said. Merrill Lynch & Co., Societe Generale, Morgan Stanley, Royal Bank of Scotland and HSBC Holdings Plc were other counterparties that also received payments, the newspaper said, citing the document.
AIG’s presentation said that without more U.S. help, investment losses would mean “AIG will not be able to repay its obligations” and that cash previously provided by the U.S., which controls a 79.9 percent stake in the insurer, could be lost. Chief Executive Officer Edward Liddy, who took over the top job in September, has vowed that AIG will repay all of its debts to taxpayers.
Potential Job Losses
At AIG itself, failure could have led to dismissals from its workforce of 116,000, the document said. At that level, the staff is unchanged from the end of 2007 before AIG’s bailout. The global credit crunch has led to at least 284,000 job cuts at the rest of the world’s financial companies, according to Bloomberg data.
The insurer’s first bailout package, crafted last September, later grew to $150 billion. After failing to sell enough subsidiaries to repay the government, AIG had to turn to U.S. taxpayers again. The company may need more support if financial markets don’t improve, the Treasury and Federal Reserve said last week in a joint statement.
-- With reporting by Fabio Benedetti-Valentini in Paris, Charles Penty in Madrid, Niklas Magnusson in Stockholm, Martijn van der Starre in Amsterdam and Andrew Macaskill in London. Editors: Rick Green, Sharon L. Lynch
To contact the reporters on this story: Hugh Son in New York at hson1@bloomberg.net; Scott Lanman in Washington at slanman@bloomberg.net.
Last Updated: March 9, 2009 19:18 EDT