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Daily Digger - Thorsday Sept 2, '04


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Lots of conflicting data out there...

 

Tracking inventories, copper supplies were down 679 short tons at 62,314 short tons as of late Tuesday, according to Nymex. Silver stocks were unchanged at 109.3 million troy ounces, while gold inventories stood at 4.88 million troy ounces, up 56,433 troy ounces from the previous day.

 

In equities, metals shares reversed course late in the session to close narrowly higher, extending strength seen in the previous session despite weakness in gold futures.

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Friday's employment data will be significant for further direction...

 

"With data raising new questions about the health of the U.S. economy and delivering a fresh blow to the greenback, the metals market will continue to pay close attention to the currencies, particularly with more key data including ... nonfarm payrolls due this week," Moore said in a note to clients.

 

The Labor Department will release its August payroll report Friday.

 

Taking a technical view of the market, Ben Johnson, president of First Securities Northwest in Portland, pointed out that gold's price "has been drifting and unable to make new highs over the last couple of days, making the technical momentum indicators look weak short term."

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Kinross has not moved in euros for the last 5 trading days

I read somewhere that longs on margin got margin calls because yesterday they changed the margin rules

There are an orphul lot of shorts and Kinross seems to be bottoming

That is a strange time to up margin on longs :mellow:

I never used margin in my life so I can only guess somebody knows something about Kinross

 

Maxxi

Any beautifull charts on Kinross ?

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Hi Moon & Tig

 

  Some of Bishop's favorites:

 

  Nevsun (NSU.TO)

  Northern Lion (NL.TO)

  Almaden (AMM.TO)

  Vantek Power (VRB.V)

 

  I haven't renewed with Bishop. $250 a quarter. :o

 

Thanks OH. USD 250 a quarter? Very expensive. You're right about Saville, he has missed some important calls of late. However, it's cheap. (200 per year I believe) I read Faber because he's an acquintant of mine. He's an economist and doesn't really do any stock recommendations.

 

I agree, that these days newsletters are not really valuable, since so much is available on the Internet. However, I find it always interesting to know what guys like Bishop recommend, because it becomes an influence on its own. In other words, large followings create realities. (Ageka mentioned this once)

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Now they are both talking about manipulation. Are the markets really rigged? I went to the NYSE site for giggles and I didnt find one mention of the NYSE being a free market. So perhaps there isnt any lie occurring, just a widely accepted incorrect public view that the markets are free. A view that I myself am beginning to lose.

 

Tig, thanks for the link and your insightful posts. I am actually quite certain that non of our markets are free today. My view is that as long there is a FIAT based system, there cannot be a free market. Because the FIAT system enables continuous manipulation by governments. And governments, in general, mix up planning with manipulation, IMO.

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So a sunny day is a day to be enjoyed

Anyway this is

Mahendra 3

Merlin 0

I have still not aborted my count for a peak first three weeks of octobre

Hope I am right

Need the money to buy gold coins :lol:

 

Actually I don't follow Mahendra, but confess to look every week at Merlin's chart. I think the guy is quite cool doing it for free and I'd say it works in 60% of the cases. October sounds still good to me. BTW, why is the food so much better in Belgium than in Holland?

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The dollar fell against it and the euro in the immediate wake of early afternoon reports out of Washington. Dozens of people were said to have fallen sick from noxious fumes in an office building downtown, raising worries that the attack was a terrorism plot. Authorities later blamed the fumes on a juvenile who had sprayed mace or pepper spray as part of a hoax.
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So a sunny day is a day to be enjoyed

Anyway this is

Mahendra 3

Merlin 0

I have still not aborted my count for a peak first three weeks of octobre

Hope I am right

Need the money to buy gold coins :lol:

 

Actually I don't follow Mahendra, but confess to look every week at Merlin's chart. I think the guy is quite cool doing it for free and I'd say it works in 60% of the cases. October sounds still good to me. BTW, why is the food so much better in Belgium than in Holland?

Belgium was created in 1830 as a buffer against the nord

All government, lawyers, notaries, doctors,engineers were french speaking

The flemish were peasants and servants all universities tought only in french

So the culture was french

Food and wine were french

I guess after generations of being servants the flemish knew how to cook as good as the walloons ( french speaking belgians )

Also it is a matter life vision ; when I work in France lunch is 2 to 2 1/2 hours

In Belgium 80% of the time it is the same ; only in the flemish limburg will they give you white sandwiches and 30 minutes time

I will have to go to Rotterdam tomorrow I hope they have something else then milk at lunch ;)

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I love this article about the value of gold

 

http://www.gold-eagle.com/editorials_04/wang090104.html

 

Now in the 1950 's my grandparents had a shop and a maid for 10 hours a day six days a week and the maid cost 25 euros for a whole month :mellow:

 

In the supermarket at the stand that sold the sweets by weight there were three girl sales persons for this stand only B)

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Charmin ..? GOD speed and Safe travels...

 

Coin Guy...?  love your conviction..

Good luck to Charmin too. Come back safely.

 

BTW, someone needs to open threads while Charmin and Thor are gone.

 

Personally, I thought AB might do that.

 

Anyway, that's all for now goobers.

Sorry Moon I cant be that guy.

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