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Charmin

Monthly Digger - November 2010

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Does anyone follow NGX, Northgate Minerals. They have operations in both Canada and Australia. They've been lagging, just wondering if anyone has any thoughts on it. TIA

they are a laggard. i bought them thinking that they will catch up.

dharma

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Thanks Dharma, I picked up a few shares this morning. I'm still not fully invested yet. Not too skilled at these bull markets, and still have some fear left in me from 08. If anyone has any good stocks that haven't really moved yet I'm all ears.

 

Thanks

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Does anyone follow NGX, Northgate Minerals. They have operations in both Canada and Australia. They've been lagging, just wondering if anyone has any thoughts on it. TIA

 

I picked up March (I believe) 2.50 calls on NXG yesterday. They are only selling for .60 so you are getting lots of leverage with little time value.

 

This is a consequence of QEII tumor growth driving volatility into the ground...rendering options dirt cheap.

 

-Agent

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I picked up March (I believe) 2.50 calls on NXG yesterday. They are only selling for .60 so you are getting lots of leverage with little time value.

 

This is a consequence of QEII tumor growth driving volatility into the ground...rendering options dirt cheap.

 

-Agent

 

 

Hi Agent, I don't know how to play around in Calls or Puts. So I just buy the stocks. I did pick up some SGR, LSG, NGX, RIC and VGQ this week. Hopefully I'll have a chance early next week to pick up a few more shares.

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Does anyone follow NGX, Northgate Minerals. They have operations in both Canada and Australia. They've been lagging, just wondering if anyone has any thoughts on it. TIA

 

For having working mines their share price does kinda suck but their 4mil claimed reserves is a little lite and production output less than 300,000 oz yr really holds them back the most. Claim over $600 to produce an oz is no so good. Having to tunnel to get to gold adds costs. Be that as it may, they are producing so when Sinclair says buy calls in the money or near the money this would be a candidate. The whole sector is going up.

 

Buy one contract call if you are set up to do so in your brokerage. I've been practicing on a few, HL lately. Selling or buying them before the call date is your decision whether they are making money or not. Last go around in HL @ $7 strike I took delivery of 200 shares (2 contracts @ 100 shares each) outright a few days before expiry close date and let one ride. It missed $7 by$.01 so I lost the purchase money which wasn't that much but glad I bought the ones I did. Should I have just bought the share to begin with? Naw, the money for the final purchase was making more profit while I was waiting.

 

I used calls to buy now pay later. I'm nickle and diming it cause I don't know what the hell I'm doing.

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For having working mines their share price does kinda suck but their 4mil claimed reserves is a little lite and production output less than 300,000 oz yr really holds them back the most. Claim over $600 to produce an oz is no so good. Having to tunnel to get to gold adds costs. Be that as it may, they are producing so when Sinclair says buy calls in the money or near the money this would be a candidate. The whole sector is going up.

 

Buy one contract call if you are set up to do so in your brokerage. I've been practicing on a few, HL lately. Selling or buying them before the call date is your decision whether they are making money or not. Last go around in HL @ $7 strike I took delivery of 200 shares (2 contracts @ 100 shares each) outright a few days before expiry close date and let one ride. It missed $7 by$.01 so I lost the purchase money which wasn't that much but glad I bought the ones I did. Should I have just bought the share to begin with? Naw, the money for the final purchase was making more profit while I was waiting.

 

I used calls to buy now pay later. I'm nickle and diming it cause I don't know what the hell I'm doing.

 

 

Thanks for explaining a little on how to play calls. I think I should just stick with stocks for now until I fully understand calls. I seem to have a hard enough time picking the right stocks. I thought that NGX was doing well with producing almost 300k oz per year. What guide lines do you use for picking a producer?

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You'd probably want to look at stated reserves, cost per ounce to produce (covers the difficulty of extraction and processing), life of mine, location (which would include political situations and importantly claims existing on the outskirts or areas of known strikes or existing money makers), and what they consider waste (offsetting minerals mined so don't confuse cost per ounce price with offsetting price to mine) like silver or copper, etc. and any near term plans which could be next month or within a couple years.

 

Management is a big thing but like anyone investing in miners lately I'd be surprised to find out they are losing money so even monkey management should be able to make a buck in this environment unless it's an outright scam.

 

A miner not producing relies on stated reserves and a start date unless the board just plans on selling out to the highest bidder.

 

For what it's worth.....

post-1024-12890679696267.jpg

 

Canada has different reporting requirements for reserves where in the US reporting might be considered stricter to become listed on the big boards. Doesn't seem to hurt Canadian miner's share pricing a whole lot lately.

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Gold in euro is clinging precariously to its 65 ema that is virtualy flat

 

My crystal ball fogged up and I am waiting for it to clear up like instructed by Seven

 

I have 24% cash and am happy to wait and see

 

My latest expectations I am working with are a short term high followed by more the 5 weeks of consolidation

 

My short term gains on Novagold are obscene which indicates something has to give

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Back to my old passtime

Proof coins below melt

 

1franc1993k.jpg

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bernake wrote this piece for the washington post.

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html

read it carefully, its all you need to know!

hope some of you out there have been participating in this run. notice that corrections are occurring intraday, its a powerful move and the move to 1372 retraced .382 of the move. relationships hold, it is just faster. the move off the july lows is intructive. although vertical there were more than 12 corrections. this move will be of a similar character. hunt for laggards that are sound, they will ketchup. this move is going higher than most think possible, except for jimmy sitting @1650, and i think his estimate is too low. but consider that he made that call over 10years ago. a hat tip to you mr. sinclair.

weakness is a gift. the fed has your back , they are letting the inflation genie out of the bottle, w/the full faith and confidence they can stuff him back in.

i have my doubts. that piece that bernake wrote in the washington post(that i posted several posts ago) is telling you his thinking. flawed @best.

last time around the ags did well , gold did better. i dont want to spread myself around . i can do one thing really well, and exhibit expertise. more i spread myself too thin. i have 30-40 miners. diversification, while smoothing out the ups and downs is way overrated. i do this to make money. i sleep well @night no matter what! even in 2008 when behind the woodshed. why the hell do you have so many miners

i got burned last time w/strikes, mines flooding, management making poor decisions,govts extorting more money from the miners etc. so rather than take a large hit if one gets into trouble , its a small hit and my account recovers quickly. stay the course. this move will last into the strong part of the year-jan/feb.

 

w/gold prices @these levels it wont be long now before miners outperform the metal. runs have a different character.

dharma

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last i looked, the system is still bankrupt! the dollar is in a major downtrend.

corrections are part of the natural process

08 created a deep fear in this sector, yet if one rationally looks. gold has appreciated against all currencies.

w/the price @1395 the miners, who are producing , are making big profits. more and more folks are recognizing this. even crammer, who @best is a clown, admitted that his 401 k only holds 2 miners and nothing else.

that being said we are approaching a period where a correction can and most probably will occur into the 18th. now the 18th is quite an usual occurrence. venus and jupiter both go direct. which means they can give fully what they have.they are the biggest benefics in the zodiac. venus resides over finance and jupiter resides over wealth. i want to keep most of my astrology bent to myself. i am a buyer in the correction. watching the miners to see how they respond. more of the public and fund managers are casting an eye in this direction. which means to me, that when the top of this leg occurs , the correction will be larger. but, for now my eye is on certain miners that i would like to pick up. i am not a seller here. i am clueless as to what will aid golds rise here, from a fundamental standpoint , but something lurks and will show itself . all i will say is that 1650 while bold will prove to be too low by jan 11

dharma

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Picked up some Aberdeen Int'l here.

 

Thanks to whoever mentioned it (Agent/dharma?)

 

Looks an interesting portfolio

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