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Miner's Lady (aka Daily Digger)


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just playin with the Movie Titles... Marx bros are awesome.... they were cutting edge social satrirsts of their day.

OOOOOOPS! Excuse me for a second while I wipe the egg off my face. Hmmmm egg!

 

Anyway, I'd forgotten why I checked in. It was to say that it would be no real surprise if we closed just below the 200 dEMA on the Zow which is just above 90. Then if we continued to play around here it would probably mark at least a ST top. However, it could also just gap right past it or on an open or even on today's close. It will all depend on gold which seems to depend on the misfortunes of Uncle Buck. Anyway, who was holding the ticket for 90 then down. You're looking at least in with a chance. Oh that's right nobody. The only ones left are the 3 who choose 93 and beyond. Not one sucker picked 93 then down.

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Ivanhoe Mines Copper / Gold Updated Resource Estimate Conference Call

Tomorrow, Wednesday 11:00 ET

 

Press Release Source: Ivanhoe Mines Ltd.

 

New independent resource estimate for southern deposits at Oyu Tolgoi copper/gold project in Mongolia to be discussed during a conference call Wednesday, August 18, 2004.

Tuesday August 17, 12:47 pm ET

 

TORONTO, Aug. 17 /PRNewswire-FirstCall/ - Ivanhoe Mines will host a telephone conference call on Wednesday, August 18th, at 11:00 a.m. Eastern Daylight Saving Time (8:00 a.m. Pacific Daylight Saving Time) to discuss a new independent estimate of copper and gold resources at the company's Southern Oyu deposits at the Oyu Tolgoi Project (Turquoise Hill) in Mongolia.

 

Ivanhoe executives also will be available to answer questions about the company's Mongolian exploration and development program.

 

Details of the new resource estimate will be announced in a news release to be issued by Ivanhoe Mines on Wednesday, August 18th, prior to the conference call. Once issued, a copy of the release will be available on the company's website at www.ivanhoemines.com. AMEC E&C Services Limited, of Canada, has prepared the new estimate under the direction of Stephen Juras, P.Geo., and Dr. Harry Parker, Ch. P. Geol., in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

 

The conference call may be accessed by dialling 1-800-387-6216 in Canada and the United States, or 416-405-9328 in the Toronto area and internationally. An operator will register participants. A simultaneous webcast of the conference call will be provided through www.ivanhoemines.com and www.Q1234.com. The conference call will be archived for later playback on the Internet at www.q1234.com or by dialling 1-800-408-3053 or 1-416-695-5800 and entering the pass code 3090653 followed by the number sign.

 

Ivanhoe shares are listed on the NASDAQ market under the symbol HUGO and on the Toronto and Australian stock exchanges under the symbol IVN.

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I believe this is the most idiotic market commentary I have ever read:

 

http://biz.yahoo.com/cbsm-top/040817/75aed...ce03a6f9_1.html

 

Around the middle:

 

"Gold futures climbed to their highest level in a month as rising oil prices and easing concerns about inflation and a strong U.S. dollar sparked investment demand."

 

This guy just said that less concern about inflation, and a strong U.S. dollar, caused investment demand for gold!! What an idiot! Unbelievable! Its worse than the people claiming that stocks are falling because oil is going up! (Or today, that stocks are rising, in spite of oil going up).

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Whatever right? Great market analysis. Check out this uranium cheapie today. IUC.TO

here is a partial basket of Uranium stocks....

 

T UEX 30-1.02 1.03-48 1.02+ +.12 735,870

TcIUC 14-3.10 3.13-30 3.10+ +.41 668,696

VvJNN 40-.71 .72-1 .72+ +.09 2,694,656

T CCO 7-81.79b81.81-19 81.81- +2.06 356,976

T SXR 4-.90 .93-2 .95+ +.14 70,900

VvLAM 10-.250 .260-33 .245+ +.005 11,000

 

IUC has an interest In JNN's moore lake property.....

 

Mr. Rick Kusmirski of JNR Resources reports

JNR Resources Inc. and International Uranium Corp. have provided information

on the summer diamond drilling program on their Moore Lake uranium project,

located in the Athabasca basin of Northern Saskatchewan.

The companies have received the geochemical results for the first three holes

drilled this summer on the Maverick zone (ML-47 to -49), and are pleased to

report two new significant uranium intersections. ML-48 assayed 4.01 per cent

U3O8 over 4.7 metres, including a 2.7-metre interval containing 6.74 per cent

U3O8; while ML-49 assayed 2.41 per cent U3O8 over 4.5 metres, including a

2.5-metre interval containing 4.17 per cent U3O8.

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Considering the lower than expected CPI & PPI numbers that came out today and last week, and the recent dramatic fall off in the employment numbers, one would assume Greenspam's recent testiphony projecting stronger growth would cause even more dollar investors to doubt his credibility. In fact, it seems that the dollar's well-being is heavily dependent upon Greenspam's credibility.

 

I realize people are a bit dense at times, but I hope that investors on this site (and know that many here do) can see through his politically motivated charade. Remember that because this is an election year, Greenspan is under even more pressure to assure the markets that a job friendly environment is at hand. After all, Washington is counting on employers to start hiring like there's no tomorrow as soon as possible before election day.

 

Those that insist the US Dollar is bullish as several maintain here, some listening to chart gurus with little understanding of fundamentals, should understand that the dollar has many more reasons to go down than up. Currently, dollar investors are discounting a 2% federal funds rate by December and an additional 3/4% for next year. If your bullish on the dollar, you're in the camp that believes Greenspam will raise rates a couple more times by Christmas. Do you think George and company will be happy with such an outcome knowing the impact it will have on the the US economy's last pillars of strength - US Consumer Spending & Housing Market?

 

Given the above dollar-disappointing, lower-than-expected CPI/PPI numbers, can you now see that pressure is being taken off the Fed to raise rates? With oil prices looking very toppy and possibly peaking, wouldn't you think that lower oil prices would also take pressure off the need to raise rates to fight inflation? Consulting a variety of fundamentals such as year over year money supply growth rates, it appears quite obvious to me that the fed is between a rock and a hard place wanting to raise rates in support of the dollar but realizing the resulting negative impact on the economy: job growth, housing market, consumer spending, etc.

 

Taking a look at the following chart, it appears that the forward looking 3-month treasury rate is signalling a stalling out or turning down here. It's projecting skepticism about the dollar's current pricing level expecting a year-end 2% FFR. If the market believed Greenspam was going to raise rates at the upcoming FOMC meetings, it would be at 2% by now, but as you can clearly see, it's still below 1.5%.

 

This tells me that indeed, fundamentals ARE important and should be consulted along with TA. This chart is signalling that there will probably be no more rate hikes this year and that the dollar is headed DOWN not UP.

 

CPI Report Link

http://www.bls.gov/news.release/cpi.nr0.htm

post-11-1092776133.gif

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