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At some point, people got to start thinking this is a buy.
Someone could take us out at $10 - $12 and get a bargain. I can only think that their suitor is shorting the stock right now before they make an offer...
I'd like to know who's selling. This is ridiculous. In December 2009, gold was under $1,100 and IAG was selling for over $20? What has changed other than their revenues have grown tremendously as has their cash position?
One thing is for sure, what we're seeing here is not natural. Someone has it out for Synacor.
I've been watching this knife fall, but haven't bought yet. $2.50 is looking possible...
Lack of Innovation Continues to Crush this Stock
http://beta.fool.com/briannichols/2013/02/21/thursdays-post-earning-decliners-it-time-buy/25244/
Synacor (NASDAQ: SYNC) was the top loser on Thursday with its loss of 38% after Q4 earnings. The technology company actually exceeded expectations on the top line and was in line on the bottom. However, the company’s guidance for both Q1 and 2013 was horrendous as the company blamed Microsoft’s co-marketing program for OEMs that require MSN (not Synacor’s created start pages) as the default start page on Windows 8 as the reason for the weak guidance. As a result, with Microsoft moving to a more mobile platform this news implies that Synacor might be left behind due to a lack of innovation.
It has been an incredibly difficult year for investors of Synacor, as the stock has lost almost 80% of its value since July 2012. The company has simply not adjusted to the new mobile era, and its blame towards Microsoft is proof that the company is not ready for this shift in consumer preference. As a result, despite the stock being cheap, there is no way to judge or predict its future, and I wouldn’t touch the stock.
They have over $1 Bln in cash + $3/4 Bln Revolver that they haven't touched yet.
$2.99 means no longer marginable at Scottrade.
Someone just dumped 27,397 at $3.02
The selling is relentless. Why? I'd like to get in, but every transaction is red.
$3.10...
Got someone happily buying at $3.16 and someone willingly selling at $3.16. The question I have is will it break up or break further down when $3.16 is filled...?
I hope you're right DrBill. Something seems different about Aurcana and I don't feel the least bit uncomfortable with it.
On a side note, I got fired from my CFO job yesterday; seems after six years they discovered I wasn't "a good fit"! I was three years from retiring. It couldn't have come at a worse time with all my miners in the tank.
Because my 403(b) is way down, I am going to take it into income this year and pay the tax on it; no penalty because I am old enough. I want to get my money out of the gov't pension system anyway. My marginal rate will be low and having lost 1/3 of its value, its a good time to take it in to income. I will keep it in the miners and ride them back up, which I believe is right around the corner. I follow Jim Sinclair (jsmineset.com) and he is convinced that the bottom is just around the corner and then we will have a 70's style rise in price as the elite cover their massive short position and then go long.
R/S are almost always killers to a share price. If you thought you bought in cheap before, wait until you hold 1/8 the number of shares. You can figure on multiplying today's price by five or six, rather than eight to get the after R/S price. I have been burned by other companies (USGIF, formerly USSIF being one) who thought the R/S would be good for them and help them get listed on a larger exchange and get higher volume and have the big boys invest in them. My experience is they simply don't work.
I'm holding 70,000 AUNFF right now @ $0.94. I would hate to see it go to $0.65 or $0.60. If it does I'll buy more. My shares are sitting in a retirement account that can just sit there until the right time. I have little doubt as to the future value of this company.
It's always good to take profits, but I will hold IAG until we are at least back above $15. I will consider taking some profits at that time on a portion of my holdings.
I agree on HL and silver in general. There are many good silver miners out there on the cheap.
Do any of you guys read Jim Sinclair? I think he is unbiased as they come when it comes to precious metal prices. He thinks this is the last hoorah for the PM price manipulators (yes, I know a lot of you don't think the price is manipulated, but please realize that ALL markets are manipulated, some more than others). You can check him out here if you are unfamiliar.
http://www.jsmineset.com/
He has been around a long time so I'm fairly certain I'm not giving new information. I for one am not letting lose of my mining shares, particularly IAG, until the price reflects, at a minimum, the value of the assets they own.
So, does IAG go to $30? I think so...
I like what Letwin is thinking. Now if he can carry through...
I'm not in SYNC. I made about $20,000 on it when NIA first started pumping it. After getting burned on a couple of their other stocks I've learned that you don't hold them for long. All of their stocks rise quickly and fall quickly, never to recover. At least that has been my experience.
Some are still holding out at $17.00.
I suspect those that dropped to $10 also think gold is going back to $1,100. However, not everyone thinks gold is going to tank.
This is from S&P and their analysis of IAG...
The bankers seem to like 1,666 gold.
Mike, who do you think would be a probable suitor for a buyout?
Yes, that's right Phil! We will see $12 - $15 again in the not too distant future, and that even without major increases in the price of gold.
Shorters & day traders scalped $0.26 off of today's high in no time flat.
Paper gold and silver are down some more tonight. It makes you wonder when costs continue to increase to mine gold, and demand keeps increasing, why the price goes down. Harvey Organ said in his blog tonight that there are 43.26 TONNES of gold standing for delivery in February. Where in the world is the COMEX going to find that amount!!! Something's going to give soon.
You made a good choice mike and got in a whole lot cheaper than me. I'm holding 20,000 shares at $8.66 and believe this company will make me a lot of money.
You did good dog! Closed at $8.25 so you're up $0.22 on your new shares. I think tomorrow will bring additional gains.
Earlier today I suggested we would see a smack down in Au & Ag prices. As is their typical fashion, the banking cartel let the paper suckers drive the price up yesterday and gold went up $22 from yesterday's low. The cartel jumped on the higher prices today and knocked it all out with their naked shorts. Now that they sold the gold paper for $22 higher than current price, they will begin to cover. Price will come back up a little today as they cover.
I don't think we need to worry. They have a billion dollars in their coffers and seeing increased production in 2013. I realize there is a cash cost estimate increase for 2013's production, but it is likely that an increase in gold prices will more than offset that.
I am still convinced there has been tremendous shorting of this stock since 1/15/13. There was a lot of covering between 12/31/12 and 1/15/13, but it sure appears the shorts came out of the woodwork on the most recent news.
I'm not selling as I agree with the analysts, $15+ within the next 12 months.
I thought it would bottom in the mid $8.60's where I bought.
Most all the miners were down pretty good yesterday after the afternoon takedown. The bankers like to let Au & Ag rise and tank the shares a day or two prior to doing a smack down. This is not always the case, but watch for possible Au & Ag to fall fairly large today as the banking cartel capitalizes on yesterday's rise in price. They will float out more naked short futures. Then cover at $10 or $15 lower.
What a racket they have. JPMogan, et al are simply TBTF and have unlimited backstopping from the Fed. Until those playing in the paper market begin to stand for delivery, these macinations will continue ad infinitum.
Banro (AMEX:BAA) traded at a new 52-week low today of $2.43. Potential upside of 97% exists for Banro, based on a current level of $2.43 and analysts' average consensus price target of $4.77. The stock should find initial resistance at its 50-day moving average (MA) of $3.09 and further resistance at its 200-day MA of $3.93.
We are in the same price neighborhood. I'm in at an average of $8.69.
I think the bankers use the miners as a proxy to help drive down the price of gold and silver in their efforts to protect their fiat. When people start realizing that fiat is becoming worth less and less, more of them will begin buying gold and silver, which moves the price up, which then moves the value of the miners up.
One thing is certain, the larger gold miners know the value of the smaller miners. They will be swooping in to buy up the smaller ones when the price gets too low.
Defend Yourself By Not Giving In – Day 2
http://www.jsmineset.com/
January 25, 2013, at 3:00 pm
by Jim Sinclair
My Dear Friends,
Take this challenge a day at a time. The fundamentals of gold’s price and currency wars underwrite not only a recovery in the gold price, but a move to new highs from the base to be set soon. You have a weapon that has ultimate power to frustrate the price manipulation. All you need to do is to do nothing whatsoever which will confuse the shorts.
The manipulators that focus on moving price down and not selling volumes of gold to accomplish it wager on the fear mechanism of price decline to pressure you beyond your ability to reason logically. What the gold banks and short of gold share funds count on is that you will injure yourself just to stop the pain of loss.
Stay away from the well known chat sites that harbor paid-for bashers that say nearly insane things to scare the hell out of you. If the big boys cannot terrify you to the point of taking your position away from you, a firm bottom will come into play very soon.
Technicals are good, but simply stated, the manufactured downside pressure stops only when it does not work. Those pressuring gold and silver prices clearly are not long position sellers looking to change their positions into cash dollars. This is a solid fact based on the manner of their selling.
If you had 2 tonnes of gold and wanted to sell you would fire any broker that went into any market and yelled "20 tonnes for sale!" when the bid was for 100 ounces only. Take comfort knowing that the early am takedown and takedowns in late Asia time are not valid sellers, but painters of the price for their best interest. Nobody is so stupid as to announce they want to sell a major part of one year’s production of gold or silver when there is no market to absorb any reasonable part of it.
This is a wicked game being played by sociopaths to whom destruction gives both profit and great pleasure. If all the business matters in the shares of the business in gold into which you have invested are working out properly, simply stop quoting it for a few days. If your gold is fully paid for simply stop quoting it.
This is a nasty game taking place which relies entirely on scaring out of your wits. Yes, out of your mind, so you sell something of great value for peanuts to the exact party playing with your head via price. When you must look at the action, remember there is a buyer for every seller. That buyer is not scared out of his/her wits if you sell to stop the pain you are in.
Have my courage which I freely offer you by knowing that we are absolutely correct in markets made by devils that are bullies whose occupation is theft. Gold is the ultimate battle between good and evil. It is the ultimate battle between deficits and surpluses. Gold is the battle between paper currency backed by nothing and guaranteed by nothing versus sound money. This period of the market is the deciding battle of the Mahabharata. This period, today, is an attempt to drive you out of your wits, which is in my opinion the last and largest attack you will see perpetrated on us before gold closes over $3500. This period of pain will not be measured in months, but counted in history as days.
The gold banks are not stupid but they are a form of Wile E. Coyote.
True liquidation is not what you are watching. You are watching a game that you have the power not to allow to win. You have to have courage, and I offer you my absolute conviction of the correctness of being long gold and long good gold shares, long silver and long silver shares at this time. This is war, and you are in the middle of it. Do not let the bastards drive you nuts. They count on you having no ability to stand their well practiced performance. Stand firm and stay the course. Now that the gold banks have us surrounded we will not allow them have their way with us. They will not get away.
Consider this “Broken Arrow” in the military sense, and please ladies and gentlemen, prepare to defend yourself by not giving in to the purposes of the devils we oppose. It is that easy. They are truly devils. They have not one redeeming human quality. As when Chesty, The Marine Sergeant Major told his troops ( which was his real family) in Vietnam when they were overrun, to prepare to defend themselves. His troops followed his courage and fought hand to hand, eye to eye until the enemy had been repulsed. You can do this. You can defend yourself. You need only do nothing, and not allow the enemy to play with your head as they play the price. This is war. Please stand your position, and which will in a real sense give them the high sign, the high one.
We will win, I promise you.
Sincerely,
Jim
From Jim Sinclair...
My Dear Friends,
Please do not fall for this classic manipulation.
Please do not make the gold banks happy by giving away your physical.
Please do not throw away gold shares because the hedge fund have
worked black PR so well that they even have convinced some well
known community physical gold merchants of their bear position
of shares.
How many times have you seen this not to recognize what it is?
Well, this is the big one and last play to denude you of your
position.
Remember, for every seller there is a buyer.
Has not every reaction in gold since $248 attempted to do just that?
This big one is no different.
Fundamentally we are approaching the period in gold when it will
move up the most points in the shortest period of time.
The paper gold market is being used to shake the bullish tree
harder this time than any time before because of what is to come.
Fear is the most powerful emotion in markets and it is being used
perfectly to enrich the grand names of finance at your expense.
Remember how you felt during the first reaction above $1000?
This is nothing different. The take downs are planned for times
when the market is least liquid either inter day or inter market.
This is not liquidation, it is price movement only.
I used to do this for a living. I don’t think, but rather I know.
Clearly the gold banks will try to get gold into a capitulation point.
Hear me: We are right in front of that time when the market
performs a classic bottom both in shares and physical.
From this point gold is going to and through $3500.
That is why what happened today is happening in the first place.
If you are unable to buy at this time there is one thing you can do.
There is one way to get into the fight and out of the stands.
That act is do nothing, and do not capitulate.
Let them play the price game, but
give them nothing whatsoever of yours.
You can exhaust the downside manipulation by not letting it work
in the classical terms. You can get into the scrap and not just
be on sidelines by calling their bluff no matter how much
temporary pain needs to be confronted.
We are more powerful than even you know.
We have what they want, and
we can simply say, NO!
Call your gold companies and ask how their affairs are coming along.
Now you must know. Do not pussy foot with them.
You want answers
Communicate with me and I will do my best to help you through this: treceo108@icloud.com
Please do not be duped by the giant bastards playing you.
Every day that passes is one day closer to the day manipulators
change sides to long, just like they did in the 1970s.
All this will be old history on my upcoming 72nd birthday.
I think you know the date, but no way am I going to inform
the gold banks and Fed that read us religiously.
Please let them play their numbers game but do not give them one
ounce of your gold or one share of your gold companies for whom all
things are progressing well.
Soon you will know that you beat them at their own game for the
first time.
You can be proactive by simply having courage of your and my
convictions, therefore not giving them any of your product.
There will be great satisfaction when you face down the bully who
is basically full of it. This is our last battle before victory.
I will be there and I want you to be also.
Let them play their price game but do not give them product.
Stand tall and stare the bully down. He will flee as this is
the last thing he expects.
Have my courage by knowing that we are absolutely correct in markets
made by devils that are bullies whose occupation is theft.
Gold is the ultimate battle between good and evil.
This period of the market is the deciding period of the Mahabharata.
This is war and you are in the middle of it.
Stand firm and stay the course.
Now that the gold banks have us surrounded they cannot get away.
Consider this “Broken Arrow” and please ladies and gentlemen,
prepare to defend yourself by not giving in to the purposes of
the devils we oppose.
We will win, I promise you.
Sincerely,
Jim
Here's my take on the gold-silver ratio...
1) For the last decade, silver has come out of the ground at the rate of 9 ozs for every 1 oz of gold, not exactly 50/1.
2) All silver produced, and then some, has been consumed in manufacturing in minute amounts. It would be very economically unfeasible to reclaim that from landfills.
3) Over the last 50 years the 10 billion ozs of US Stock piles of silver has been drawn down to less than 1 billion. What will happen when these stock piles run completely dry? And have they already since the US Mint has run out of blanks for minting ASEs?
4) Gold and silver contracts trade on the COMEX at 50/1. That is, a gold contract = 100 ozs and a silver contract = 5,000 ozs. I think there is a reason it is 50/1 and not 40/1 or 25/1 or 9/1. The banking elite want to keep the ratio at 50 to 1.
You and I know that silver is not just an industrial metal. It is a precious metal and it trades in almost complete harmony with the yellow precious metal. You can overlay the charts and easily see that.
I believe that the TBTF banks and the fed intervene daily in the precious metals markets WITH UNLIMITED FUNDS to move them as they please. When the dollar is falling relative to other currencies, logic tells you that gold and silver should command more of them. But just the opposite happens. When the dollar starts to fall, the banking elite step in and start selling gold futures to prop up their fiat. They DO NOT want people to lose faith in their fiat as that is how they make money, literally, they create it out of nothing, ex nihilo.
Gold price forecasts 2013
http://www.trustablegold.com/gold-2013/
For the fourth quarter of 2013 analysts surveyed by Bloomberg in November 2012 forecasted a level of US dollars 1,925.- per ounce of gold.
The bullion bank ScotiaMocatta forecasts a rising gold price in 2013 and would not be surprised to see a gold price above US$ 2,200.- per troy ounce of gold.
The French Bank BNP Paribas estimated in November 2012 gold to reach US dollars 1,675 per ounce in 2012 and US dollars 1,865 per ounce in 2013. On the other hand, Thomson Reuters GFMS expects the peak of the gold price for end of 2012 or beginning of 2013 and a following decrease in the price of gold from 2013 on. In November 2012, members of the London Bullion Market Association forecast a gold price of US dollars 1,843.- by September 2013. The global bank HSBC predicts a very similar gold price of 1,850 US dollars per ounce of gold in 2013.
The CEO of the largest US gold mining company Newmont Mining estimates that the price of gold in 2013 may increase to US dollars 2,550.
In November 2012, Deutsche Bank updated its forecast on the gold price to US$ 2,000.- by next year, i.e. 2013. Credit Suisse expects a gold price of US$ 1,840.- in 2013, while in October 2012 private bank Coutts predicted gold prices to reach US$ 2,000.- in the coming months.
IAMGOLD Cut to Neutral From Buy by BofA-Merrill Lynch
IAMGOLD (NYSE:IAG) was upgraded from Neutral to Outperform at Macquarie (pre-open) today. The stock closed yesterday at $8.75 on volume of 9.3 million shares, above average daily volume of 3.1 million. In the past 52 weeks, shares of IAMGOLD have traded between a low of $8.71 and a high of $17.74 and closed yesterday at $8.75, which is 0% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 3%.
IAMGOLD has overhead space with shares priced $8.75, or 49.8% below the average consensus analyst price target of $17.42. The stock should find initial resistance at its 50-day moving average (MA) of $11.40 and further resistance at its 200-day MA of $12.44.
IAMGOLD Corporation is a mid-tier gold mining company. The Company is focused in West Africa, the Guiana Shield of South America and in Quebec where it has a pipeline of development and exploration projects.
I firmly believe there is heavy intervention by the central banks/fed in driving the price of the miners down in order to support their fiat. IAG is trading at the same price it was when gold was $900. Since then they have substantially increased production and EPS. Any pull-backs right now appear to be temporary.