Strictly: Drilling

[kirby49]

Frank:

Last loaded up the day before Billy took his last position in PAA. I like it best, just because of that and Bay has bit me the odd time. Got to look at SSO.V. Up 30% on PAA today from when I bought and you can't have it! Things are definately different this time, but not all things and I still expect as you seem to that silver will lead, followed by Sr. gold, POG and the explorers, some of which will jump just on takeover rumours.

I am a goldbug in the sense that I believe we would be all better off if the veils (no pun intended) were lifted from the market for transparency and we could count all the gold that is not yet jewellery. There is of course some that has industrial use etc and like much silver is thrown away in the end making it the capitalist dream and even if you did count all the precious metal that is thrown away, it's still gone. I understand that the supply/demand crunch is much greater in silver at the moment, but that may have softened in the past two weeks. Not significantly enough I think that I'm going to do the research to check cause ya still can't have my silver!

I am a goldbug, but only play it when there's reason to, and don't short it when it's in a downtrend. A realist, I don't hold it long during downtrends and beat my head about manipulation as the whole market is manipulated and you have to accept that it's all reflected in the price. Would like to see gold reserves of USA. (Who wouldn't), but actually counted and audited and related to currency in circulation. Also every bank whether private or clearing house or government run like BIS show and equate physical to paper. These things of course will never happen, but with carry trade, delta hedge contango's, bullion bank twenty year short positions (may be only eight), Hindu wedding season, Japan turning in US$ for gold cause they've been beaten down for 12 years and don't need this, war, GATA Oct9, .....I could go on and on....I think gold is the more explosive play than silver. I don't think it's down, but if for some reason I'm wrong I've booked 30% in May and open positions up 20 to 25 since reentry in June and finger on sell button with all stops in place cause one thing you'll never hear on ROB and I'm sure CNBC, CNNFN (I don't get em) is sell, sell, sell, and if you haven't got it yet you shouldn't be in this game that you have to sell to profit. (These 'you's are not you Frank, just you know the herd).

I only play 7 to 13 open positions so don't have much room for more silver, but I repeat you can't have mine. Worse than a true goldbug I hate looking for bottoms and didn't even twig on what is now a very nice 10 month bull in the HUI until Feb, jumped in the first of March, stopped out thinking March and gold are done for this year. Total capitulation on my part. It was just plain luck that I reopened positions Apr 2 for the runup and the quick 30% in six weeks. Some goldbugs are just goldbugs, but I'm much worse. I'm also a bear. May have a few open short positions on top of my puppies. Double the risk which I rate not high, double the reward. Up to 911 reminded me of 93 or so run up to Bre-X, kinda quiet and didn't like all the attention mid-May. I really would like to hold long positions for a long time to know what it feels like, stops in place, sell Nortel at 112 etc. but even in 96 I got a 1+ year leap put on S&P index for 3% value of portfolio as a hedge against 50% collapse in what I thought were ridiculously High, Higher, Highest valuations. As a bear I know when to step aside and even cheap insurance just money thrown away. Bears are just as afraid of tops as bulls are of bottoms.

Anyway I will give him a listen cause asset allocation is important. I want to know now where to be next<G>. I didn't hear in what I listened to if he is employed or otherwise paid by NB and just that fact that they present it I want to keep a watch for hooks, I'm such a bear and cynic<LOL>. I'm sure we can agree to disagree on which of our favourite shinies will outperform and Mr. market will tell us in due time.

I just reread this and think it's kinda preachy and that wasn't the intent cause I know I'm preachin to the choir. You may be able to help me though. I've waited for techs to dive and bounce but really want the big boys to fall GE (now happening)etc. Know all this happens fast and have everything in. How can I get a big chunk of cash from Japan at their interest rates without further collateral except for the gold stocks I'll buy with it. I hear their trying to literally give their money away and if someone will tell me which lineup to get in where everybody is saying yes I'll take some and margins are 0 I'll take all they can give. I'm sure to be only 1 of 1000 who would actually put it into gold. And last week during tanking best many analysts could come up with as safe haven was go to cash. If you don't like volatility and uncertainty go to cash. Just give it to me when you cash out cause you're not going to do anything with it anyway and I'll put it into .... When herd all moves to cash, cash moves to down. You may have seen that jeweler who hawks cash for gold, well, I want both. Give me your cash, I'll give you a quarter of one percent per. Give me your gold and I'll even give you a little more.

I will keep repeating my mantra, but not always.

Regards

Bob