92 replies to this topic

[dharma]

joe 6 in action
http://www.youtube.c...layer_embedded#!
dharma

[stocks]

joe 6 in action
http://www.youtube.c...layer_embedded#!
dharma

LOL and kinda sad

"I am serious investor, I only listen to well-know economists who go to good schools and win prizes.
I don't want to be called stupid; I don't want to feel strange and weird."

[dharma]

the move since the july lows, was fairly easy it was vertical w/short quick corrections. difficult to shoot yourself in the foot w/those kinds of moves. now however there are lots of crosscurrents. possible head and shoulders top forming. lost momo. so the possibility exists for a correction. @this juncture i am thinking the top was actually a Band C has finished. i am looking for a move up. and a vertical one @that. if it does correct however, i am a buyer, if not i will ride w/what i have. and if it corrects it will be fairly short in duration. far east countries are desperately trying to build their gold reserves. russia for example bought 600,000 ounces of gold in october. and so the race continues to build reserves. what amazes me in all this is supposedly these countries have the best, brightest, most knowledgeable economists working for them . @1300 gold is a buy. where were these guys @say even 600. just shows these guys are no better @this game than joe in the video i posted above. @the top everyone will be loaded w/gold. parabolics never end w/ a whimper. so, hold onto to your precious now, but dont fall in love. the harmonics still have time to correct .it is still early in the cycle. for some reason my leaning is to blast off soon. as always we will see. remember i am not a trader in this move, i am an investor. if i am right on the extent and vertical nature of this upcoming move than i will pare back more than 15% probably alot more. its a chess match. dharma

[dharma]

monday , monday and we are not revealing anything. range bound. surprises in bull markets are to the upside. the supply/demand situation for silver favors the bulls. @35 for silver, on this leg, seems like fair value given the fundamentals. of course i have no idea about that. what i do know is silver stocks is where i want to be for now. just watching in here. if we correct, i buy. if not i ride what i have. stops are there to make floor traders some coin. volatility is ever increasing. and @some point in the future it becomes a harrowing experience. my intermediate picture for gold going above 1700 by feb will not be changed if we correct some more. so, i am sitting. jesse said , (paraphrasing) sitting is where i made the most $$$$ dharma

[johngeorge]

monday , monday and we are not revealing anything. range bound. surprises in bull markets are to the upside. the supply/demand situation for silver favors the bulls. @35 for silver, on this leg, seems like fair value given the fundamentals. of course i have no idea about that. what i do know is silver stocks is where i want to be for now. just watching in here. if we correct, i buy. if not i ride what i have. stops are there to make floor traders some coin.
volatility is ever increasing. and @some point in the future it becomes a harrowing experience. my intermediate picture for gold going above 1700 by feb will not be changed if we correct some more. so, i am sitting.
jesse said , (paraphrasing) sitting is where i made the most $$$$
dharma

dharma

I very much like silver here as well so purchased MNEAF this am. Looks to me like it has legs. Will see.

Best to you.

[dharma]

well here we are doing battle @the next support resistance #=1375. 1392 is next up. these #s are all vibrational based on the 252 low. 1460 is the beckoning for this price cycle. dharma 1700-2100 is ridiculous for this leg. yes, it is quite bold, but looking @the fractals , it looks quite plausible to me. could we just correct from right here. absolutely, but it would not negate the parabolic. i have no idea what will be the trigger(S). but , the possibility is real to me. remember all this jello being pushed around is not real. the derivative tower looms large. every week the #of banks that bite the dust continues. essentially the system is insolvent. and then there is ben, who will just print. sure republicans and folks of sound mind are protesting. but, it falls on deaf ears. the ecb will qe2 , they will have no choice. believe it or not i am optimistic on our future. we just have to clean out our corrupt system. and it will happen. even @1376 i am wearing my buy hat hunting for undervalued juniors that are down , but in powerful formations dharma

[stubaby]

monday , monday and we are not revealing anything. range bound. surprises in bull markets are to the upside. the supply/demand situation for silver favors the bulls. @35 for silver, on this leg, seems like fair value given the fundamentals. of course i have no idea about that. what i do know is silver stocks is where i want to be for now. just watching in here. if we correct, i buy. if not i ride what i have. stops are there to make floor traders some coin.
volatility is ever increasing. and @some point in the future it becomes a harrowing experience. my intermediate picture for gold going above 1700 by feb will not be changed if we correct some more. so, i am sitting.
jesse said , (paraphrasing) sitting is where i made the most $$$$
dharma

dharma

I very much like silver here as well so purchased MNEAF this am. Looks to me like it has legs. Will see.

Best to you.

johngeorge:

http://stockcharts.c...17689&r=336.png

http://stockcharts.c...7954&r=3900.png

http://stockcharts.c...6682&r=6805.png

stubaby

[johngeorge]

Thanks Stubaby Great chart work per usual. MNEAF overbought on just about any measure, but, I believe Pierre Lassonde owns about 20% so I am just going to sit with it. MNEAF had good news recently regarding its silver ore body and I suspect that the heavy buying was a case of "buy the rumor" and then "sell the news". Strong dollar is also providing temporary headwinds, IMO, although the prevailing opinion is the available silver supply is being squeezed. I always appreciate your posts and try not to miss a one. Best to you.

[johngeorge]

stubaby,

I was wrong about Pierre Lassonde's ownership. It is Rod McEwen who owns approximately 20%.

Disclosure: I own MNEAF

MNEAF latest news:

Minera Andes Announces That Inferred Resources More Than Double at the San Jose Mine, Argentina
8:18a ET November 22, 2010 (Market Wire)

Minera Andes Inc. (TSX: MAI)(OTCBB: MNEAF) is pleased to announce the results of an updated independent mineral resource estimate as at September 30, 2010 at the San Jose mine in Santa Cruz province, southern Argentina. The contained silver in the Inferred Mineral Resources increased by 133% and the contained gold increased by 122% compared to the December 31, 2009 estimate as reported by the Corporation in its March 31, 2010 Annual Information Form. The increase is primarily due to the discovery of nine new veins as well as important extensions of previously known veins, as reported by the Corporation on October 7, 2010. An updated resource/reserve technical report on the San Jose mine will be filed on SEDAR in the near future.

The San Jose mine is operated by Minera Santa Cruz SA, a joint venture owned 51% by Hochschild Mining Argentina, a wholly owned subsidiary of Hochschild Mining plc, and 49% by Minera Andes S.A., a wholly owned subsidiary of the Corporation.

Rob McEwen, Chairman and CEO of Minera Andes, said:

"The big increase in the inferred silver and gold resources is terrific! It is the direct result of skilled geologists having a significantly higher exploration budget for a most prospective property. Our exploration goal is to meet and exceed the exploration success of Andean Resources' neigbouring Cerro Negro property."

Some fundamental stuff:

Factual Stock Report | November 20, 2010
Minera Andes Inc (MNEAF) BB

GICS Sector: Materials
Sub-Industry: Precious Metals & Minerals
Summary: Minera Andes Inc. (TSX: MAI, OTCBB: MNEAF), holds about 304,221 acres of mineral exploration
land in Argentina.

Operational Review November 16, 2010
Income Statement Analysis & Financial Review

For the nine months ended September 30, 2010, Minera Andes share of net income derived from Minera Santa
Cruz S.A (MSC), (before $1,160,401 amortization of deferred costs), was $16,671,961. The net income was
$12,017,806 ($0.05 per share), vs. share of net income of $8,447,347 (before $807,000 amortization of deferred
costs), for a net loss of $1,674,036 ($0.01 a share) in 2009. MSC is owned 49% by Minera Andes and 51% by
Hochschild Mining plc.
For the third quarter ended September 30, 2010, Minera Andes share of net income derived from Minera Santa
Cruz S.A (MSC), (before $399,065 amortization of deferred costs), was $7,789,612. The net income was
$6,069,710 ($0.02 per share), vs. share of net income of $5,882,693 (before $302,000 amortization of deferred
costs), for a net income of $5,145,137 ($0.02 per share) in 2009. MSC is owned 49% by Minera Andes and 51% by
Hochschild Mining plc.
Key Operating Information
Third quarter 2010 silver and gold production was 15% and 12% higher, respectively, compared to the second
quarter of 2010. The increase in silver and gold production was primarily a result of the expected improvement
in grades for both silver and gold offset by a decrease in mill throughput of 3%. The improved grades are
related to the ongoing development of the higher grade Kospi vein.
As at September 30, 2010, the company had an accumulated deficit of $32 million and working capital of $7.4
million (compared with a $44.0 million deficit and $16.4 million working capital, at December 31, 2009). At
September 30, 2010, Minera Andes had cash and cash equivalents of $10.3 million, compared to cash and cash
equivalents of $18.9 million as of December 31, 2009.

Recent Developments
The goal of the 2010 exploration program at the San Jose Mine is to replace reserves depleted during 2009 and
to discover new mineralized veins on the San Jose property, which comprises approximately 50,491 hectares.
On October 7, 2010, the Company announced the discovery of nine new high-grade gold/silver veins plus
important extensions of two other veins, which together total more than five kilometres in strike length at the
San Jose Mine. The discoveries represent significant exploration progress at the San Jose Mine where the
total strike length of all the previously known veins totaled approximately 17 kilometres.

Business Summary November 16, 2010

Minera Andes Inc. (TSX: MAI, OTCBB: MNEAF), in the exploration stage at
September 30, 2010, acquires, explores and evaluates mineral properties, consisting
of mineral rights and applications for mineral rights, covering approximately 304,221
acres in three provinces in Argentina. Following exploration, the company either
seeks to enter joint ventures to further develop these properties or disposes of them
if the properties do not meet its requirements. The properties are all early stage
exploration properties, except for the San Jose mine. The company's focus is
primarily on gold, silver and copper mineralized targets. Its material properties are
the San Jose project and the Los Azules project.

The company owns a 49% equity interest in Minera Santa Cruz SA which hold titile
to the San Jose gold/silver property in Santa Cruz province in southern Argentina.
The San Jose mine commenced production during the second quarter of 2007 and
approached full production by year-end 2007. The mine comprises more than 13 km
of underground workings accessed by ramps accessing the Huevos Verdes and
Frea veins. A third ramp has also been constructed to access the Kospi vein, where
173 meters of the vein have been developed.

Silver production at the San Jose Project was 4,998,000 ounces in 2009. Gold
production in 2009 was 77,070 ounces.

In August 2007, the MSC Board decided to double production at the mine and mill
from 750 MTPD to 1,500 MTPD. The expansion increasing the processing capacity
of the San Jose Project from 750 MTPD to 1,500 MTPD was completed in October
2008 and production commenced from the Kospi vein near the end of June 2009,
which marked the expansion of the mine production to 1,500 tonnes per day.
The goal of the 2010 exploration program at the San Jose Mine is to replace
reserves depleted during 2009 and to discover new mineralized veins on the San
Jose property, which comprises approximately 50,491 hectares. On October 7, 2010,
the Company announced the discovery of nine new high-grade gold/silver veins
plus important extensions of two other veins, which together total more than five
kilometres in strike length at the San Jose Mine. The discoveries represent
significant exploration progress at the San Jose Mine where the total strike length
of all the previously known veins totalled approximately 17 kilometres.
The Los Azules Project is an exploration project comprised of properties owned by
MASA and, to a lesser extent by Andes Corporacion Minera S.A., also an indirect
wholly-owned subsidiary of Minera Andes. It has a a 100% interest in certain
mineral properties comprising part of the Los Azules Project, a porphyry copper
exploration project; and an option to acquire a 100% interest in the balance of Los
Azules Project upon the satisfaction of certain conditions and subject to a back-in
right, as to 51% of the entire Los Azules Project held, indirectly, by Xstrata plc.

Consensus vs. Performance

For fiscal year 2010, analysts estimate that MNEAF will
earn $0.10. For fiscal year 2011, analysts estimate that
MNEAF's earnings per share will grow by 90% to $0.19.

[dharma]

bingo it is mcewen http://www.mcewencapital.com/ he has a piece of all of these methinks
anyone notice gold is motoring denominated in euros. ireland , greece, portugal, italy, spain, and throw france in there to round out the problems for the euro. folks over there have been through these upheavals many times, they will come to gold sooner rather than later
that soros piece posted by jg, he is skilled @talking out of both sides of his mouth. forget about what govts and guys like soros say, watch what they do!!!!
i am in here buying some weakness in specific issues. fighting @1375 is giving me more confidence. the fact that the broads are taking it on the chin. the dollar is rising . and gold is gaining ground are all gold positive. gives me some courage. @some price above here joe enters the fray.
dharma

Edited by dharma, 23 November 2010 - 02:39 PM.