Oldtent Archives 2007 - 2008

I did not vote last time my selection was not in the list

generally I do no vote, because of the choices ( biased ?  ) offered

2_p

www.zealllc.com/2008/epichui.htm

“gold at $458.65 by 18th August 200X or I will never publish anything about gold ever again”, repeated several times in different words (I can’t remember the exact amount and year).  Not that I ever expected him to keep his word if it hadn’t hit that target (which it didn’t), his personality is such that he wouldn’t be able to keep quiet.  But gentlemen always stick to their word.

Once again, I don’t doubt that he has the best of intentions.  However, I think he is out of touch with the common goldbug.  He is so wealthy that a few ten of millions here or there are nothing to him, and I don’t think he can really feel the pain that some bugs are going through.  Just how out of touch is shown by his comment that one should engage the services of a competent independent geologist to spend time with a company before buying its shares.  Although he may not feel financial pain, I’m sure he feels angst when his predictions are way off, although not quite enough to admit that he was wrong.  A man of integrity would come out and apologise for his error.

The world’s financiers must be laughing their asses off as the USA destroys its dollar by printing more to pump the dollar so other countries like China can sell off their reserves at higher rates.

Deflation

Nadler likens the event to someone piercing a balloon with a pin and expecting a “slow, orderly deflation.”

But it’s premature to call the “burst of the commodities bubble,” because prices have only been declining for a few days, said George Milling-Stanley, a director at the World Gold Council.

Gold has merely “backed away” from a historic high set earlier this year, he said. Prices climbed past $1,000 an ounce in March. A year ago, prices traded at just $670.

“The events of a few days, or even a few months, do not necessarily undo what is so far an event that has been going on for seven years,” said Milling-Stanley. Analysts have said the current gold bull market began in 2001.

“A bull market can stand a correction of 30% in the price from time to time and still remain intact,” Milling-Stanley said.

Nadler said there’s really a “sea-change in attitudes” going on. Attitudes toward the dollar and oil, attitudes on the part of the consumer and about the global economy and the U.S. contagion spreading — “they are all undergoing shifts of an order of magnitude that we have not seen for half a decade,” he said. It’s “no wonder that investment postures and asset reallocation are also undergoing a significant transformation.”

Even so, Nadler said he remains a “strong advocate of a core insurance position in gold bullion. Trouble, it seems, is always but one headline away from undoing the best-laid plans.”

52-Week Low Club (CCJ, CVI, EIX, MDR, SSRI, ZINC)

The drop in commodities isn’t good for everyone apparently.  Many metals stocks are on the list today, as are others. Here is a partial list of some semi-active stocks hitting 52-week lows today:

• Cameco (NYSE: CCJ) continued uranium weakness after its Cigar Lake troubles persist… and persist… and persist…
• CVR Energy (NYSE: CVI)… energy and fertilizer, recent IPO, so long for the fun times; becoming one of the worse performing post-IPO’s over the last year.

• Edison International (NYSE: EIX)… becoming habitual to see power generation companies
• McDermott (NYSE: MDR) after naming new CEO; stock back above lows but hit new 52-week lows this morning.
• Silver Standard Resources Inc. (NASDAQ: SSRI), one of the many speculative metals plays on the list
• Horsehead Holdings (NASDAQ: ZINC), again… it’s hard not to give this one at least two

  Buyer’s dream says he

 http://www.safehaven.com/article-10996.htm

No I haven’t seen it. I too am a fan, when he sings you can feel it.His vioce is strong,  can hit the notes with grace, and  flows with the music. He had a innate gift.I hope it lives on.

Fascinating are the $CDW and the others showing support now being tested.

I expect to be out most of the day [again] tomorrow, so not likely to post much until Sunday.

BTW; how ’bout those great skies!!  Clouds like I have not seen except in pictures.  Amazing.  Tall cumulo nimbus.  Bright white.  Must  have risen to 30,000 feet at times today.  Then Dark and bring rain.

  I posted the link to CNI yesterday with their price lists - big difference today - nothing is available now. What the hell is going on? Did they sell everything? Are they refusing to sell? These guys are one of the larger suppliers. Take a look.

http://www.golddealer.com/bullionpage.html

I am a big fan of Roy Orbison.  Have you seen the DVD, ‘Black and White Night’?  Some greats in the backup musicians.  And the whole set just jumps.

LOL no not mostly with stocks, any more that is.I handed someone, a broker 10k once asked him in invest it in x-stocks..yrs ago around Dec. 2000. Well he talked me into ohter things and not my x-stocks. Stating all the credentials behind him ect.Well my x-stocks went up like apple, xerox ect. made signifanct gains starting  in only few months, and the stocks he recommended ect. well lost about all of it for me. I had tax deductions into the following year for that. I learned the (following) lession yrs. ago, never again. This guy went as far as ask me for the money I used to buy a house with, said give it to me.He said “why buy a house, give it to me.”Well he got taken down, shop closed up, but a lot of people got hurt. Loosing that money I then found online trading which I did okay..till..I found micro stocks..so know what you mean about that..it’s funny you see them and pass them by and next thing you know they went sky high, or you see them buy them and illegal shorts get it or whatever. I remember getting arguing with my on-line broker cuz he told me I couldn’t put stops on this micros. The ones you need to put stops on the most. Why makes it even easier for the shorts IMO A real lottery ticket with those.Then the IRS on any profits. Big headache all and all.But it’s the competitive nature in me that keeps me going.But took me some money to realize we are not dealing with honest people here a lot. They are predators, espectally the shorts. May their houses burn after 1000 elephants trample them. Why the world doesn’t collectively go after them I don’t know.

  you have to wonder also if their position is dollar bullish, why are they steadily covering their gold short positions on the Tocom? According to Douglas they are poised to be out by the end of November. Can’t trust em’.

 I agree…the same turds that have shorted the hell out of everything that has commodity written on it will probably be buying with both hands in a couple of weeks…..Just give the bastards a market that moves…they know how to take care of the rest…..Not one iota surprised…..Annoyed, but not suprised. You mentioned Goldman Sucks. I notice today they are pumping the hell out of how great this dollar rally is and no end in sight…..IMO, that is a very good example of the above….Lier’s poker so they will have time to get on the other side of the trade.

All the best.——aggie.