294 replies to this topic

[senorBS]

yes but whither miners? terrible performance

I guess we will find out soon if they are ready to regain some relative strength and rally or keep "withering"

Senor

[dougie]

indeed: i think this week we are at a crossroads for at least 2-3 weeks, but it will run hard in one direction for that period of time might be ugly

[dougie]

McCllelan agrees
http://pragcap.com/l...t-the-beginning

[dharma]

this is what i wrote to some friends last night: since the highs in gold and silver, yes i realize the highs in silver were in april, last year and the sept highs in gold, the declining angles off those tops have been very effective resistance. we closed just under them friday. looks to me like if could require more work. we will get through those angles, the question is how much time it takes??? they are posing formidable resistance. just a heads up this pullback was expected by me. ok will the recent lows be tested? i dont know. its a possibility. my job isnt to forecast, but to respond to what the market gives. if it pulls back, i am a buyer.. i didnt feel the last bottom was technically secure. yes the sentiment figures were quite bullish, as i posted on previous pages. @the december lows, not only were the sentiment figures @extreme, but also, the technical picture made for firm footing. make no mistake about it, no matter what ben says, they will qe. there is no choice in the matter, w/o printing we go down the rabbit hole. the ecb has printed a couple of trillion dollars, in dollar terms , injected money (not over time, but all @once into the system). the fed is more clandestine in its operations. printing =survival from here on out. you can and will doubt all you want, they are going to continue printing, and the amount they print will be larger and larger. gold when it breaks above 1803 will go geometric. and it will happen soon. sinclair has stated that the banksters will make the most $$$ in this gold move, i have no doubts on this. on this board there is constant doubt. by the way tom mcclellan is the son of the guy who invented the mcclellan oscillator. his parents were top flight technicians. tom is interesting. i started trading in 79, the gold stocks along w/the rest of the sector were roaring, prior to that, unknown to me until recently, they languished. its going to take the institutions coming into the sector to ignite it. until friday the sector had been down for the week , only to have a weekly close higher by fridays close. trading, and worrying will have you chopped up before this is all over. of course i dont know , but i think recognition occurs fairly quickly. do your own work!!!! most technicians will be chopped to ribbons. dharma

[johngeorge]

dharma Thanks, as always, for sharing your thoughts and analysis. You have been saying for quite some time on this board that volatility will only increase, seconded by none other than Jim Sinclair. My thoughts are if folks have difficulty sleeping with their positions then they need to get rid of them. It took me a few years to learn that lesson, but, a lesson that I don't forget. Yes, I took some losses and yes I took some profits. Those were put behind me and I don't look back. As you indicated trading this market is so difficult that in my case I simply buy a mining stock I feel is undervalued and hold. Jim Sinclair recently remarked that gold mining stocks are the utility stocks of the future, paying increasing dividends over time. I certainly like that idea as income to me is as important as capital gains. Regarding the physical I buy on the dips when finances permit and hold, hold, hold. It provides a wonderful sleep tonic for me. Best to you.

[dougie]

JG: care to share any names you can sleep with?

[johngeorge]

dougie Here are ones I own: MUX, PVG, GGN, TRX, NGD, WDOFF, and LEXVF. For Mutual Fund fans TGLDX and VGPMX. Do your own DD. Good luck.

[dharma]

do your own dd. i have been adding to my position in ngd, and have added today. okoff has an agreement w/paas. paas has done and paid for feasibility studies, etc they have spent some significant $$$. by april 16th they have to decide, to either take them out or walk away and lose all the money that they have spent. their other option is to take a 3month extension, that is also in their agreement. what we are seeing is anticipation of a takeover. i suspect we get to 3 @the least on speculation. dharma you have to do your own research and you can uncover companies that have real reserves and are takeover targets. they are out there. and it will continue to happen. i have lost track of how many miners i have held that have been taken out. mfn the latest. i have turns tomorrow and wednesday 16th bradley.

[dougie]

thanks JG No CKG in there?

[johngeorge]

thanks JG
No CKG in there?

dougie

Nope! Missed my chance much earlier and then forgot about it. No room in my portfolio for Chesapeake Gold at this time, however, that may change in the future.

I notice that dharma added to his NGD. I am pleased to be in such good company with that stock. Pierre Lassonde is a legend in the gold mining business.