AgentSmith Posted March 2, 2010 Report Share Posted March 2, 2010 Sold my AUY April $12 calls for 40% profit. I expect their earnings tomorrow to be superb but the options served their purpose. I don't like so much risk so I have put the money into ECUXF @ .586 - where at least time won't work against me. 4th day up for AUY, I think tomorrow will be a big day and then we will move sideways/slight down for 2-3 days followed by a very powerful move up. I may get back into AUY calls, but they will be more conservative in the money options. I think it's time to be in the JPMs as opposed to the majors, I only like the majors for the initial moves off of the low, since they lead. Even then, I prefer junior-like returns via the calls. Gold has broken through a key area, we could extremely jumpy to the upside here. AUY will attack the $13.60 area. -AgentSmith Link to comment Share on other sites More sharing options...
goose Posted March 2, 2010 Report Share Posted March 2, 2010 Thanks for the explanation GM. Thanks to Goose? for mentioning MAO.V also. I've been buying SSP.V MAO.V FAU.V, GWY.V and a little RVS.V. I sold half of RVC.V I bought at $1.25 and doubled down at $1.10 along with half of my XRA (Keeping free shares). I'll be adding to PG.TO this week and perhaps dip a toe into Sacre-Couer. Thanks again Your welcome chiefywiefy. I'm a novice so I'm glad I could offer something of value. Link to comment Share on other sites More sharing options...
goose Posted March 2, 2010 Report Share Posted March 2, 2010 Loaded up with PG.TO this morning. I'm out of ammo. Look at the volume coming into this one. Somethings up. I'm still sitting with some ammo, I wish I was as brave as the rest of you on the board. It still makes me nervous to be all in. Link to comment Share on other sites More sharing options...
Gold Majestic Posted March 2, 2010 Report Share Posted March 2, 2010 Great action today in the Gold/Gold Stocks sector. And Greece is preparing to release a new austerity package tomorrow. Imagine investors actually buying, not selling, the Euro were the market consensus able to recognize/reward austerity measures as opposed to the usual profligate borrowing and spending. That is if the Greeks do exactly opposite of what we're doing here in the U.S., borrowing and spending. As I explained my view before, one of the reasons the US Dollar Index has staged a bear market rally has been because of its heavy (almost 60%) Euro weighting, but the US Dollar itself has been weak against the "Commodity Producer" Currencies (AUD/CAD) and other Asian Currencies. And as we had anticipated, the RBA hiked rates this morning. (The US Peso didn't like that too much.) Given the massive short position against the Euro (that was discussed), could mean that if the Euro does rally sharply on this news tomorrow, the "Euro-Heavy" US Dollar Index will get smoked. As pointed out before, I believe that Gold has for the past several weeks been sniffing out this scenario as it has climbed with the US Dollar Index. We'll see. Greece Set to Outline New Austerity Measures Wednesday "ATHENS—The Greek government is expected to outline Wednesday a new austerity package of about €4 billion ($5.42 billion) in an effort to cut its huge budget deficit by four percentage points this year, government officials said Tuesday." http://online.wsj.com/article/SB10001424052748703807904575096960117502490.html?mod=WSJ_WorldMarkets_LeadStory Link to comment Share on other sites More sharing options...
dharma Posted March 2, 2010 Report Share Posted March 2, 2010 this was the madoff whistle blower on king world news http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/3/2_Harry_Markopolos_files/Harry%20Markopolos%203%3A2%3A2010.mp3 quite fascinating is sprott (phys) buying gold to round out their physical holdings? dharma Link to comment Share on other sites More sharing options...
Gold Majestic Posted March 2, 2010 Report Share Posted March 2, 2010 Thanks for the explanation GM. Thanks to Goose? for mentioning MAO.V also. I've been buying SSP.V MAO.V FAU.V, GWY.V and a little RVS.V. I sold half of RVC.V I bought at $1.25 and doubled down at $1.10 along with half of my XRA (Keeping free shares). I'll be adding to PG.TO this week and perhaps dip a toe into Sacre-Couer. Thanks again Good for you Chiefy. Glad to see you, Goose, Agent and many others here making money in good investments and trades. On Sacre Couer, I was in a bit of a hurry last evening so neglected to point out maybe the obvious that is most important. That SCM's focus is to build a major hard-rock gold deposit. Their alluvial deposits will be mined to pay for the continued hard rock exploration to come. And most importantly, with as little share dilution as possible. I like this management and their development model, they're good (like Chesapeake is). And also on the topic of Alluvial (Placer) deposits we discussed, I should have also added that such are stratified in distinct zones of deposition. There is the Coarse Gravel zone, Sand/Fine Gravel zone, and different kinds of Sand zones such as "Clean Sand," and "Sand with Organics," or "Clay Sand." These represent different periods of time when they were laid down. Coarse Gravel was deposited in a "high energy environment," such as from a fast flowing, volumenous river whereas Fine Sand, Silt, etc. are associated with "lower energy environments" such as flood basins, river bends and such. Because of the many various depositional differences in each of the alluvial strata (time/erosion differences) the Gold Concentration varies. When they take vertical cross sections in the test pits (89 so far), they do so in proportion to its relative thickness in the pit to make a combined sample representative of the Gold in all strata layers. This gives the geologist a reasonably accurate estimation of the Gold that can be recovered from the pit. They then use this data from each pit and and give it a percentage weighting per its zone thickness to estimate the total Gold amount. When properly performed by knowledgeable, experienced "fundamentals are useful" mining engineers, the procedure yields good quantitative estimation results as to the alluvial Gold mineralization. But "good" as you know, is not good enough and therefor the next step of test mining is undertaken to obtain more precise results. That's the stage of the process that SCM is undertaking now. As investors, we're waiting over the next couple months to find out what the recovery grades will be. And remember, all this has been about only ONE of about at least 8 or 9 potential alluvial deposits on their large land holdings. So potential cash flow times 10, maybe. Depending on the grades, we may be only talking $150/oz cash cost for the alluvial Gold. Guyana is an excellent mining environment and the "charts tell all" don't tell you that. That's when opportunity is presented to those that garner knowledge to buy up value, even speculative value in this case. All in my opinion of course and always recommend everone to do his/her own research. Link to comment Share on other sites More sharing options...
Gold Majestic Posted March 2, 2010 Report Share Posted March 2, 2010 this was the madoff whistle blower on king world news http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/3/2_Harry_Markopolos_files/Harry%20Markopolos%203%3A2%3A2010.mp3 quite fascinating is sprott (phys) buying gold to round out their physical holdings? dharma "is sprott (phys) buying gold to round out their physical holdings?" Hi dharma, I'd say so and add that the underwriters have experienced a pretty tough time placing the PHYS product (Gold)! It was supposed to be IPOed last week, but as we saw they couldn't do it until this week. That should tell us something. And what should speak volumes is the fact only a third of the original planned issue was completed. And not for lack of demand, but for the difficulty in acquiring supply in large quantities. What this action tells us is that the Gold Bears that believed Gold is in a Bubble or Gold is "Too Frothy," etc are missing the Forest for the Trees, yet again, as this offering clearly demonstrates. Link to comment Share on other sites More sharing options...
Charmin Posted March 3, 2010 Author Report Share Posted March 3, 2010 GLD. Watching the moving averages since I have to please GM. Being aware of 8/21 crossing over 50 or more sideways consolidation. http://www.StockSharePublishing.com/ChartLib/GLD_03_03_00_34_1267594457.png Link to comment Share on other sites More sharing options...
bearvest Posted March 3, 2010 Report Share Posted March 3, 2010 HUI: We need to see this last 3 wave move turn into a 5 wave impulse. That means it can't overlap 419.39 Link to comment Share on other sites More sharing options...
chiefywiefy Posted March 3, 2010 Report Share Posted March 3, 2010 Looks like I'll be traveling for a few weeks. I have stops (wide) in but feel free to have the miners take off while I'm gone. Link to comment Share on other sites More sharing options...
dharma Posted March 3, 2010 Report Share Posted March 3, 2010 nem reported blow out earnings, it trades for 10:1 p/e which is really low for a gold miner. i have to think earnings are going to blow off the doors for miners this quarter. dharma Link to comment Share on other sites More sharing options...
Gold Majestic Posted March 4, 2010 Report Share Posted March 4, 2010 GLD. Watching the moving averages since I have to please GM. Being aware of 8/21 crossing over 50 or more sideways consolidation. http://www.StockSharePublishing.com/ChartLib/GLD_03_03_00_34_1267594457.png "Being aware of 8/21 crossing over 50" Appreciate your concern Charmin! Now if you could just kindly convince 21 to follow 8's lead? Yes, as Uncle Jimmy would say, "THIS IS IT!!!!!!!" But as much as I like the sound of that, I would be compelled to replace "IS" with 2 cautionary words in that statement, "COULD BE." I'd like to give it another day of UP before a Consolidation to satisfy my concern. Here's an update of the GDX Chart posted on Monday. Notice we broke through 46 resistance on 18 plus Million shares as anticipated we would. But according to the GDX manual, Gaps must get filled and we have one just below 45. Unfortunately following the rules would cause an overlap that we don't want. So let's break the rules this time and perhaps no one will notice? I'd like to see another day up just to "seal the deal." Link to comment Share on other sites More sharing options...
Gold Majestic Posted March 4, 2010 Report Share Posted March 4, 2010 Gold is down 4 bucks in Asia . . . where are you Chuck? Euro Weekly "FIB Correct" .618 Reversal chart Link to comment Share on other sites More sharing options...
Ageka Posted March 4, 2010 Report Share Posted March 4, 2010 Oh my god ; gold down 4 doollars whilst I was sleeping . There must be something wrong with me that I can sleep thru such a disastrous plunge But wait ; it is making all time highs regurlarly in eurons Link to comment Share on other sites More sharing options...
vitrofan Posted March 4, 2010 Report Share Posted March 4, 2010 Gold is down 4 bucks in Asia . . . where are you Chuck? Euro Weekly "FIB Correct" .618 Reversal chart So far I am in CRU, GWY, GSPG, JIN, LSG, OGC, PNP, TRY and VIPR. SPP and SCM sound great, but if you could only buy one of those two, which would you go for? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.