RODM: I have to wonder if they've held too many shares of companies they've offered to the market, and those shares have fallen.

Example: ZSTN went public at $8 and is now at $6.35 (which also sorta says RODM offered it at too high a price).

'peeker

APT: Beat earnings est by only a penny. Beat revenues by only about 7%. Share price dropped about 10% in aftermarket trades.

Earnings CC at 4:30pm ... hmmm mmm mmm

'peeker

ps> I'm surprised at the fall after earnings announcement. Street must have expected more mask sales ...

CMTP (our old CHID): Slammed from high of $10 on 14Oct to 6.15 right now. Has someone decided their business has been commoditized?

Has anyone looked at fair value for this one? CSGH is obviously outperforming CMTP lately.

'peeker

Rate: IAE.v ... LPIH ... NEP
All three are down in the last wk.

IAE.v/IACAF.pk has been talked about often, and they are probably the most undervalued of the three, with most potential to breakout shortterm (IMHO).

Both LPIH and NEP have shown strong and consistent growth. LPIH dipped below $2 and off the most percentage-wise over the last wk. NEP is back under $5 and seems to surge strongly into the mid-high $5s, then dip back into the mid-high $4s.

Anyone else want to share an opinion about these? I own IAE already and am thinking of re-buying NEP and LPIH today or tomorrow. Anybody else buying?

'peeker

ps> Thinking oil looks a bit safer than gold/silver in current sloppy market.

CFK: CE Franklin (oil services / equip supplier) reports after close today. Estimate is only for .11/sh and I've no idea whether they should beat or not. Hasn't been mentioned here in awhile, but it's quietly doubled in last 3 months.

Any thoughts? Anybody still following this one closely?

Thanks in advance,
'peeker

GORO on BNN: Michael Smedley (British), chief portfolio manager, Morgan Meighen & Associates, certainly didn't help GORO go higher. He called it a pink sheet and quipped a bit much. Down to $8.01 now (down over $1 since 2 days ago), GORO is not having a good day.

Mikey referred to Hochschild's buyin, highgrade open pit, famous Reids in Denver who've sold about 5 mines already, owned in Canadian World Fund. Implied that he expects Hochschild to buy it out eventually (my interpretation).

He mentioned principal risks is that gold goes down.

APT: Earnings and CC after the close today... eom

SLW: Seeking Alpha article:

http://seekingalpha.com/article/169022-ten-stocks-for-the-next-ten-years?source=yahoo

Excerpt about SLW:

1) Silver Wheaton (SLW) - I have talked multiple times about this extremely dynamic business model and the transformational year 2009 has been for the future of this company. Management continues to execute deals and acquire a diversified group of royalty streams at bargain basement prices. Not only will they be the lowest cost producer (under $4.00/oz) but they will also become one of the worlds largest producers (peak production of 50m oz per annum assuming 2 development projects come online within the next 5 years or another acquisition which they have made crystal clear in the most recent conference call). This is the best inflationary hedge in my opinion as they pay no income tax (has made arrangements with the Canadian government to either reinvest all excess profits or pay them out as dividends). That being said in one or two more years, these royalty streams will sell for a much bigger premium relative to today. This means a payout ratio of 75-85% will likely be in place by 2015 or so.

UTA: Universal Travel common stock will no longer trade on the NYSE Amex and will begin trading tomorrow on the New York Stock Exchange (13.00 -0.32)

Well it's on the sliding board today...

8.32, down .63

Gold and Gold Stocks slapped today!

COMEX Metals Closing Prices
Gold closed lower by $13.20 to $1043.20, silver shed 63.3 cents to end at $17.09 and copper finished down 2.35 cents to $3.011 (all Dec contracts).

Minings (gold/silver/palladium) stocks I own are all down:

AGT -.03
GORO -.30
HWTHF -.02
OCANF -.03
EVOGF -.06
PAL -.07

Except: TRGD +.02 (egad; why do I still own that dog?)

EVG.v/EVOGF.pk: CEO says last two drill holes are finishing up NOW, and all assays should be complete by 3rd wk of Jan. Updated resource estimates are expected sometime during Q2 2010.

'peeker

BUCY: Bucyrus has blowout earnings and raises guidance.

On its earnings call, co says it now expects FY09 revs of $2.60-2.625 bln vs prior guidance of $2.5 bln and vs consensus of $2.57 bln. EBITDA now expected at $515-530 mln from $485-500 mln prior guidance and vs consensus of $483 mln... There were no cancelations in Q3, nor does co expect cancelations in the future; sales were driven by a high quality backlog. Co says it is very gratified with Q3 results. Capital spending by customers continues to be impacted by the economy and a lack of credit. However, there were no cancelations in Q3. Co does not expect cancelations in the future... Sales were driven by a high quality background. However, co says it is unclear if these margins are sustainable. Co believes commodity prices have bottomed and are increase slightly, copper and oil has increased significantly. This is good for BUCY's OEM business and the aftermarket business. BRIC countries are leading the recovery. But co is seeing more strength in traditional markets, including copper and oil sands. Co has seen an increase in OEM order activity. This looks to be sustainable into early 2010 based on conversations with customers. The aftermarket segment remains strong. There have been no idling of Bucyrus aftermarket machines. Co is maintaining a strong and healthy backlog, co is beginning to book into 2011... Co feels strong about OE activity because the Big 5 are starting to wake up, particularly in copper, iron ore and oil sands. Until more production hits the market, which will take some time, the co expects copper prices to remain up here. There is some dragline activity, especially in India... South America needs more machinery for copper production because yields have dropped significantly. Oil sands customers tell BUCY that the market correction was a good thing as they have been able to get costs in-line. They are debottlenecking their operations. They think they can now process more oil sands, which requires more machinery. Co sees glimmers of activity almost everywhere... Vale had knocked its 2010 cap-ex guidance to below $10 bln previously, but they recently announced it would raise their cap-ex spend to $21 bln in 2010... The run rate is solid for Q4, stay tuned for our guidance on 2010... Co thinks it is positioned well for 2009 and the strategy is playing out for 2010.

Wade, on RODM, which way will you go on this one?

Reference:
Your message #115849 (one of your all-time greats)

Parenthetically, Quayle was no Kennedy, and ...
.... RODM is no AGM ... or BAC ... or HSOA.

Best Regards,
'peeker

Rogers ‘Excited’ About China’s Dalian Exchange Growth Efforts

Oct. 22 (Bloomberg) -- Investor Jim Rogers took a “senior consultant” position with China’s Dalian Commodity Exchange because he is “excited” about the exchange’s efforts to grow.

“I expect China to become the commodity trading center of the world once they open their currency and open their economy,” Rogers said by phone from Dalian, in northeastern Liaoning province today. “I’m keen on all the three exchanges but I’m excited about what they’re doing in Dalian.”

Rogers, who is chairman of Singapore-based Rogers Holdings, said he also had discussions with the Shanghai Futures Exchange and the Zhengzhou Commodity Exchange, adding Dalian was the city he would want to live in if he was in China.

Rogers was hired as a “senior consultant,” the exchange said in an e-mailed statement yesterday. The exchange was China’s largest commodity derivatives market in terms of volume in the first half, and trades contracts including soybeans, soybean oil, palm oil and soybean meal.

Dalian may introduce energy, coking coal and live-hog futures contracts to spur trading volume, exchange president, Liu Xingqiang, said in an Oct. 12 interview.

The bourse also aims to “be more than just agricultural or energy-oriented,” Liu said. “We’re working on products that can be traded more easily as investments; that are more financial in nature. It will be a global exchange,” Liu said.

--Li Xiaowei. Editors: Richard Dobson, Jake Lloyd-Smith.

Potash Profit Falls 80% as Fertilizer Sales Slump

By Christopher Donville

Oct. 22 (Bloomberg) -- Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer maker by production capacity, said third-quarter profit plunged 80 percent amid a slump in demand for its namesake crop nutrient.

Net income tumbled to $248.8 million, or 82 cents a share, from $1.24 billion, or $3.93, a year earlier, the Saskatoon, Saskatchewan-based company said today in a statement. The average estimate of 18 analysts surveyed by Bloomberg was for profit excluding some items of 80 cents a share. Potash forecast fourth-quarter profit that trailed analysts’ estimates.

Chief Executive Officer Bill Doyle has cut potash output as farmers and distributors in the U.S. slow purchases of the nutrient in anticipation of even lower prices. China, the world’s largest importer of seaborne supplies of the form of potassium, has essentially halted purchases, said Edlain Rodriguez, an analyst at Broadpoint AmTech in New York.

“This is the continuation of a bad year -- the focus has shifted to 2010,” Rodriguez said today in a telephone interview. “Until China comes in, the fundamentals of the potash market won’t change.” Rodriguez rates Potash shares a “buy” and has a 12-month per-share price target of $116.

Third-quarter sales fell 64 percent to $1.1 billion. Potash predicted fourth-quarter per-share profit of 65 cents to 85 cents. Analysts expected earnings of $1.18, on average.

Shares Fall

Potash Corp. fell $2.59, or 2.5 percent, to $99.89 at 7:33 a.m. in trading before the regular open of the New York Stock Exchange. The shares gained 40 percent this year through yesterday.

The company said global sales of potash next year will be about 50 million metric tons, down from its previous forecast of 50 to 55 million tons.

“The uncertainty among fertilizer buyers has lasted far longer than we anticipated, but cannot continue indefinitely,” Doyle said today in the statement. “Our focus is on preparing for the demand rebound that we believe will inevitably follow.”

Potash Corp., which also produces phosphates and nitrogen- based fertilizer, said an eventual settlement of contract talks with China will increase demand for the nutrient.

Belarusian Potash Co., a marketing arm for producers Belaruskali and OAO Uralkali, is leading annual negotiations with China over sales volumes and benchmark prices. The largest international producers cut prices earlier this year for India by 26 percent to $460 a metric ton.

Canpotex

Potash, Mosaic Co. and Agrium Inc., North America’s three largest fertilizer producers, market potash outside of the continent through Canpotex Ltd., their joint international unit, and have historically adopted terms agreed upon in talks between China and BPC.

Farmers in the U.S., Australia and Brazil have scaled back fertilizer purchases as corn, soybean and wheat prices fell from record highs last year.

Potash has been the subject of speculation that it may be a takeover target for BHP Billiton Ltd., which has said it plans to expand its investments in the crop nutrient.

To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net.

EVG insights from poster "ogi" at Silicon Investor:

To: heinz44 who wrote (15765) 10/10/2009 1:38:45 PM
From: ogi 6 Recommendations Read Replies (1) of 17585

Heinz, I thought I would use your letter to Dr. Quinton Hennigh of EVG as background for some infill if I may.

I have been in touch with a Dr. Hennigh several times this week
and sent my own email regarding the relentless selling and the rumours of an impending PP. I know there was a posted interview
of Robert Bick from the Toronto Cambridge show where he did talk about "future" financings. That interview was posted on Agoracom at one time I do not know if it is still there. Nonetheless, the fact remains that we know at least one member of management had publicly acknowledged they had thoughts of pursuing a financing in the not too distant future. We can also assume that any company with EVG 's success has been courted by multiple financial concerns seeking to do such a financing.

In my opinion there is a direct connection between this public mention of future financings, the relentless pummeling of EVG share price, and the rumours that this price action was anticipating a financing which undoubtedly fostered even more selling. Add TA to that mix and you get...even more selling. The main thrust of my email to Dr. Hennigh was simply that EVG management have grossly mishandled the issue of financings particularly in light of their very strong current cash position and $15 mil in warrants expiring in the new year.
I urged the EVG to strategically plan now for financing well into the future and consider doing a bought deal at a premium price with a major as an option to be given serious consideration.

The same price action that has so frustrated us has also confounded Dr. Hennigh, with the flood of shareholder complaints he and others made a concerted effort to investigate what might be behind the flood of sells, which we here have seen for ourselves with Anonymous a NET seller of 7,132,600 EVG shares between Sept 10 and Oct 10. Dr. Quinton
believes they did identify a particular "motivated" seller and EVG have taken steps to address this. I do not know what steps they could have taken or may have taken. Who this person/co is or exactly what the motivation was I don't know either. As no PP has been forthcoming despite an EVG exec acknowledging they were investigating the idea, I can only guess it is someone that may have been interested in a PP and in its absence subsequently put pressure on EVG for their own purposes.



We have had a confluence of factors that have taken EVG shares down of late. 1. a natural correction from a big price spike. 2. possible unrealistic expectations for Carlin that were not met. 3. a motivated seller who purposely put pressure on the stock 4. Ta analysis selling after EVG could not hold support levels.I believe the worst is fundamentally now over and even if others believe that TA would have predicted this retracement
from the highs, it seems the current TA consensus is also that EVG is now off its bottom. There will be approx $10-$11 mil left in the kitty after drills stop turning. Dr. Hennigh tells me he DOES NOT support doing any financing right now.

Rattlesnake assays will be coming for the next few months.
I look forward to them, they alone will tell me the progress EVG is making. In the meantime EVG mngmnt has been listening and I am glad so many here wrote to them.


Cheers,
Ogi

ZSTN: Looks like Rodham will not be exercising any overallotment shares at $8/sh afterall.

'peeker

ps> I B squealing like a stuck pig

EVG.v rocketed from under .50 in July to over 1.50, then began slowly coming down. Today's news is providing more detail on their news from September. The wide swing seems to indicate some general disagreement as to the value of Evolving Gold's stock.

I'm thinking about a position in EVG and wondered is anyone wants to share their reasons for or against owning it.

Is it because their business plan is to be bought out by a major such as Anglo Ashanti (mentioned in their news today)?

Meanwhile, I'll can go back and search prior messages for EVG.

'peeker

ps> still squealing like a stuck pig from buying ZSTN after IPO yesterday.

OPCO pet supplier sounds good, but watch out for Martha Stewart. She's going into fashionable pet supplies (will be on CNBC at 1:20 pm today, so OPCO longs should probably catch a listen).

'peeker

ps> Still squealing like a stuck pig with my ZSTN

OT: SKILLX1, TBUS?

TRIB: Trinity Biotech reports Q3 EPS of $0.145 vs $0.12 single estimate; revs declined 8.2% YoY to $31.7 mln vs $32.46 mln single estimate (4.00 +0.01)
Gross profit for the quarter amounted to $14.3 million representing a gross margin of approximately 45%, which is an improvement of 1% over the same period in 2008. By excluding instruments service costs the gross margin rises to 49%.

ZSTN: Now down to 7.39.

Yesterday I squeaked like a lemming. Today I may have the opportunity to "squeal like a pig", as in the movie Deliverance.

Regards,
(squeal)peeker

UPDATE: Now up to 7.60 so I may yet get to sing like a lark.

GORO: I posted a note on GORO board (copied from Yahoo group "GoldResourceCorp"

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42733003

Good post from GoldResourceCorp (Yahoo group). If you haven't signed up for daily updates, you really should. Lots of good and pertinent conversation about GORO, including notes from conversations with the Reids. I believe GORO is hiring locally and training operators, so the startup may be fraught with complications before operations run smoothly.

'peeker
___________________________________________________

General experience with factory start-ups...
Posted by: "Forestmusic1@aol.com" Forestmusic1@aol.com
Tue Oct 20, 2009 12:55 pm (PDT)

I do some outside sales for a distributor of Industrial equipment, much of which is used in the mining industry, (though there are no mines in my territory to have direct experience with).

At any rate, having seen some mill/factory/production start-ups from scratch like they are doing down at our new mill, I know that we should reasonably expect some equipment to be torn up in the process. Some of this equipment, particularly pumps and seals, have to be installed and run expertly and there is very little margin for error before major damage can occur. For instance if a pump or system isn't properly primed and lubricated within 5 seconds of dry-running the whole thing can be shot. The secondary problem with this is that while, as a salesman, I would like to see everyone buy 2 of everything and have one on the shelf, very few companies can afford to do that anymore. OEM's these days rarely keep inventory anymore, almost everything at the very least is "assembled to order" and in many cases "build to order," and it is not unusual to see 12-16 week lead times on some of this stuff after engineering approval.

I have not seen any info from the company as to who they are hiring to run/maintain the mill, but if they are taking local workers and training them on the equipment and maintenance there is bound to be some operator error.

I would not expect to see a press release stating, "Our new employee of the month ran the Strainer and an acid pump dry and now it will be 3 months before the industrial cooling water system is working again" but experience tells me this stuff ALWAYS happens with new plant startups.

KiK, you must feel like the Pied Piper of IHub after ZSTN fell to 7.50 at the close today. I just feel like another stunned lemming.

Best Regards anyway,
'peeker (dogpaddling in deep water)

Last wk there was discussion about what could make Gold prices go down? Well we saw a negative PPI report drive it down today, raising DEFLATION fears. Here's some discussion on today's negative PPI from Briefing.com:

Highlights

* Headline PPI turned negative for the seventh time over the last year as prices dropped 0.6% in September. The consensus expected headline producer prices to post no growth.
* As with the previous drop in July, the volatility in the energy market played a major role. Energy prices declined 2.4% in September after increasing 8.0% in August. In July, energy prices had dropped 2.4% after increasing 5.6% in the previous month.
* Food prices also declined for the seventh time over the last 12 months, but the drop was a very modest 0.1%.
* Somewhat surprisingly, core prices also tumbled 0.1% in September.
* Intermediate goods prices rose 0.2% after increasing 1.8%. The increase in prices was due to a large jump in core prices (0.9%) as food costs declined 0.5% and energy prices dropped 2.1%.
* Crude goods prices declined 2.1%, but prices for core crude goods rose for the fifth consecutive month (3.6%).

Key Factors

* The drop in core prices is a little unnerving for inflation hawks as it means that declines in energy and food costs have begun to pass through to other goods. The pass-through of energy price drops could be seen in the motor vehicle sector where all producer prices for all modes of transportation with the exception of heavy motor trucks declined in August.
* As production picks up and producers demand a higher quantity of inputs, we expect producer prices to increase over the next several months.
* A pickup in producer prices does not necessarily mean an increase in consumer prices. The PPI has not done a great job at predicting CPI numbers over the last several years. With consumer demand still weak, producers will probably try to nurture demand by selling goods at low prices and take less of a profit.

Big Picture

* PPI trends were highly volatile in 2008, mirroring the trends in global oil prices. Falling global commodity prices and weak economic demand will keep inflation in check at the producer level. If global economies remain weak in 2009, as is widely expected, inflation at the producer level will be insignificant. There may even be concerns about global deflation.

What Nov6 meetings and promos are you referring to?

TBUS: Hweb, yes, I also sold TBUS as their press release could easily be interpreted more positively than the actual revenues that result from that new business. I have a re-buy order in, but these things often get away from lowbidders like me.

Technically, it was a breakout on large volume, so it may have legs, but I decided to buy PAL which was down today even though palladium price just reached the HOY.

'peeker

ps> as usual, when you sell one thing to buy another, I'd have been better off to stay pat with TBUS, as it's higher than where I sold and PAL is lower than where I bought.

TBUS is experiencing good growth, has small #shares outstanding, and earnings have improved over last year. It's not clear how much revenue TBUS will get from the Singapore contract, but there are 900buses and 100railcars. How many electronic sign sales does that really turn into? Only the Shadow knows, but I bet the Shadow is buying.

"On 8/13/2009, TBUS reported 2nd quarter 2009 earnings of $0.09 per share. This result was in-line with the consensus of the 2 analysts following the company and beat last year's 2nd quarter results by 80.0%. The next earnings announcement is expected on 11/12/2009."

PZG: FCMI Financial purchase of 4m shares of Paramount
(That's who bought recent PP)

Oct 19, 2009 (M2 EQUITYBITES via COMTEX) --
FCMI Financial Corp declared on Friday the completion of the acquisition of 4,000,000 common shares of Paramount Gold and Silver Corp (TSX:PZG)(AMEX:PZG)(Frankfurt:P6G).
The shares were acquired from treasury at a price of USD1.25 per common share in a public offering.
The company now owns 16,000,000 common shares reflecting 15.78% of the total outstanding common shares in Paramount.

Silence ... the sound of one hand clapping

Sigh ... the sound of TRGD hitting .33 with one hand tied behind its back.

Down .055 today, but B/A is wide at .33-.375

Unloaded all my KCLOF.pk/KCL.to today on potash news:

This morning BofA said BHP could offer a 30% premium for POT.

CSGH and CNOA holders are up >12% today

Hooray, I own something that's on a run.

Thanks to Researcher59 and others who got me onboard these two trains.

'peeker

OT: Currently reading Jim Rogers' book A Bull in China

Easy reading book; published in 2007; picked it up at local library. He dedicated it to his Chinese-speaking daughter (named Happy).

Rogers gives context to why he is so sold on and engaged in China. Lots of good info about companies benefitting from the strong growth of Chinese economy (some in China; some in US and other). I was particularly interested in all the gov't-funded and mandated growth in alternative energy, while he also makes clear their heavy dependence on coal (they have lots available domestically) and nuclear and hydroelectric power (Three Gorges Dam is 5x the size of Hoover Dam).

Many companies are mentioned as beneficiaries of the China growth and demographics. Interesting read, whether you are looking for smallcap Chinese, largecap Chinese, or US companies which are big beneficiaries of China growth.

Best Regards,
'peeker

PS> A quote from Confucius: Do not wish for quick results, nor look for small advantages. If you seek quick results, you will not reach the ultimate goal. If you are led astray by small advantages, you will never accomplish great things.

Uh, OT, I guess, but it's so Kozuh ....

When Insults Had Class:

"Thank you for sending me a copy of your book; I'll waste no time reading it." - Moses Hadas

"I didn't attend the funeral, but I sent a nice letter saying I approved of it." - Mark Twain

"He has no enemies, but is intensely disliked by his friends..." - Oscar Wilde

"I am enclosing two tickets to the first night of my new play; bring a friend.... if you have one." - George Bernard Shaw to Winston Churchill
"Cannot possibly attend first night, will attend second... if there is one." - Winston Churchill, in response.

"I feel so miserable without you; it's almost like having you here." - Stephen Bishop

"He is a self-made man and worships his creator." - John Bright

"I've just learned about his illness. Let's hope it's nothing trivial." - Irvin S. Cobb

...

...


Kozuh's Unit Conversion Table:

Ratio of an igloo's circumference to its diameter = Eskimo Pi

2000 pounds of Chinese soup = Won ton

1 millionth of a mouthwash = 1 microscope

Time between slipping on a peel and smacking the pavement = 1 bananosecond

Weight an evangelist carries with God = 1 billigram

Time it takes to sail 220 yards at 1 nautical mile per hour = Knotfurlong

16.5 feet in the Twilight Zone = 1 Rod Serling

Half of a large intestine = 1 semicolon

1,000,000 aches = 1 megahurtz

Basic unit of laryngitis = 1 hoarsepower

Shortest distance between two jokes = A straight line

453.6 graham crackers = 1 pound cake

1 million- microphones = 1 megaphone

2 million bicycles = 2 megacycles

365.25 days = 1 unicycle

2000 mockingbirds = 2 kilomockingbirds

52 cards = 1 decacards

1 kilogram of falling figs = 1 Fig Newton

1000 milliliters of wet socks = 1 literhosen

1 millionth of a fish = 1 microfiche

1 trillion pins = 1 terrapin

10 rations = 1 decoration

100 rations = 1 C-ration

2 monograms = 1 diagram

4 nickels = 2 paradigms

2.4 statute miles of intravenous surgical tubing at Yale University Hospital = 1 IV League

AND.......100 Senators = Not 1 decision

FVI.v :::

VANCOUVER, Oct. 19 /CNW/ - Fortuna Silver Mines Inc. (TSX.V: FVI/Lima Exchange: FVI) - is pleased to announce production figures from the Caylloma silver-zinc-lead mine in Peru for the third quarter 2009. Year to date, Caylloma has produced 1.29-million ounces of silver and is on track to meet the forecast of 1.6-million ounces for the year.

http://finance.yahoo.com/news/Fortuna-Reports-Silver-cnw-1634391735.html?x=0&.v=1

A Technical Report on Reserves and Resources for the Caylloma Mine is available at the Company's website at www.fortunasilver.com.

Jorge Ganoza, President, CEO and Director, commented, "Our Caylloma mine is celebrating its third year anniversary since the start of mining operations in October of 2006. Production has increased 140% over this period of time as a result of investment programs worth approximately USD 30 million. These investments have been self funded by cash flows generated from operations. On behalf of senior management and the Board of Directors I want to take the opportunity to publicly congratulate our staff, employees and contractors for their achievements at Caylloma."

Don't lose your Tao ... over Tara

New Chinese exchange may hurt prices on main stock exchanges.

BEIJING (AFP) – China will launch its long-awaited Nasdaq-style ChiNext board in Shenzhen on October 23, state media reported Saturday.
Shang Fulin, chairman of the China Securities Regulatory Commission, announced the start date of the growth enterprise market at a forum in Beijing, the official Xinhua news agency reported.
The first batch of 28 companies will make their debut on Friday, Xinhua said.
Regulators hope the new market will help fuel start-ups and other companies with high-growth potential in the world's third-largest economy, following the example of Wall Street's Nasdaq.
But there have also been worries that the new board, which attracted strong interest from investors, may be diverting funds from the main boards and drag down stock prices.

Gold May Fall as Rally to Record Encourages Sales, Survey Shows

By Nicholas Larkin

Oct. 16 (Bloomberg) -- Gold may decline as a rally to a record encourages some investors to sell the precious metal and erodes jewelry demand, a survey showed.

Nine of 16 traders, investors and analysts surveyed by Bloomberg, or 56 percent, said bullion would fall next week. Five forecast higher prices and two were neutral. Gold for delivery in December was up 1 percent this week at $1,059.20 an ounce by noon yesterday in New York. The metal reached a record $1,072 on Oct. 14.

Gold futures have climbed 19 percent this year and are headed for a ninth consecutive annual gain, while the dollar is trading near the lowest level in 14 months against a basket of six major currencies. The 14-day relative strength index for gold futures yesterday climbed above 70, a level viewed by some investors as a signal of an impending retreat.

“A weak dollar, rising equities and risk appetite are supportive, but I think gold is looking fatigued and vulnerable to a correction,” James Moore, an analyst at TheBullionDesk.com in London, said in an e-mail.

Bullion futures have gained in seven of the past eight weeks. The October-December period is typically the busiest season for jewelry sales in India, spurred by the wedding season and this weekend’s Diwali holiday.

“We are fearful that far, far too many people are involved with this market and that a correction of some consequence is now upon us,” wrote Dennis Gartman, an economist and editor of the daily U.S.-based Gartman Letter. “Those who had been hoping to see material Indian buying of gold ahead of and during the Diwali festival may find their hopes dashed.”

The weekly gold survey has forecast prices accurately in 164 of 283 weeks, or 58 percent of the time.

This week’s survey results: Bullish: 5, Bearish: 9, Neutral: 2

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net