realist Posted July 6, 2007 Report Share Posted July 6, 2007 I see dead shorts. We'll likely retest gold's 730 high by the end of Summer... This will only the beginning of what is too come... Link to comment Share on other sites More sharing options...
Sudaca Posted July 6, 2007 Report Share Posted July 6, 2007 Close-up of the long term trend line retest on TNX ... with weekly bullish engulfing. Link to comment Share on other sites More sharing options...
DrStool Posted July 6, 2007 Author Report Share Posted July 6, 2007 godawful pigshank in pmtc today. txt looks like it's headed for 125. Link to comment Share on other sites More sharing options...
Sudaca Posted July 6, 2007 Report Share Posted July 6, 2007 The one thing that really bugs me about gold right now is precisely the fact that Newmont and others have reduced or eliminated their hedges. Gold mining companies have terrible track records when it comes to the timing of their hedges. They had the highest hedge exposure at the bottom of the gold market, and many are still paying dearly for that. The fact that those same companies have no hedges now makes me start to wonder... Link to comment Share on other sites More sharing options...
Private Skidmark Posted July 6, 2007 Report Share Posted July 6, 2007 Added uranium longs today in CCJ and UEXCF. Added tech longs in IBM and FNSR. Portfolio still about 90% PMs. Link to comment Share on other sites More sharing options...
try2win Posted July 6, 2007 Report Share Posted July 6, 2007 GG showing signs of life 589431[/snapback] i think that is one jickiss has been pounding the table on Link to comment Share on other sites More sharing options...
try2win Posted July 6, 2007 Report Share Posted July 6, 2007 i keep my option buying down to a very small percentage.... was early on these but they show life. Link to comment Share on other sites More sharing options...
sarcastro Posted July 6, 2007 Report Share Posted July 6, 2007 http://www.reuters.com/article/domesticNew...06?pageNumber=2 "All the hiring came in service industries during June. There were 135,000 new jobs in the service sector including in health services, hospitality businesses and government. The goods-producing sector shed 3,000 jobs. There were 18,000 fewer jobs in manufacturing businesses in June, on top of 7,000 lost in May." In other words, all new jobs were for hostesses at restaraunts and bean counters. Any job where anything actually gets PRODUCED continues to be eliminated systematically....... Link to comment Share on other sites More sharing options...
realist Posted July 6, 2007 Report Share Posted July 6, 2007 The main reason why the gold shares are going ape-shit now... Global Gold Bottoming out. Shares leading the Metal into a renewed uptrend? Without a Doubt... http://www.zealllc.com/2007/glogold3.htm Link to comment Share on other sites More sharing options...
LeeWhee Posted July 6, 2007 Report Share Posted July 6, 2007 The one thing that really bugs me about gold right now is precisely the fact that Newmont and others have reduced or eliminated their hedges.? Gold mining companies have terrible track records when it comes to the timing of their hedges.? They had the highest hedge exposure at the bottom of the gold market, and many are still paying dearly for that.? The fact that those same companies have no hedges now makes me start to wonder... 589447[/snapback] Good point. The current goldschlock run started on 6/27. Then out of nowhere AH on 7/5, NEM announces they have eliminated all their hedges. What are the odds that everyone who is anyone knew the timing of this announcement well in advance? Also interesting how the general media is painting this "newsnoize". Here's Reuters: "In bullish move, Newmont eliminates gold hedges". Why is this bullish? Does it mean Newmont is "bullish" on gold prices going forward or were they just tired of losing money on their hedges? Or did they cover their hedges for another reason altogether? If Newmont was the expert at gold market timing, then why did they hold onto these hedges for so long, losing money in the process. Since they were terrible timers when initiating these hedges, perhaps their timing at eliminating them will be equally poorly-timed, as you suggest. I have no inside insight into this. Perhaps this development is, indeed, bullish for one and all. But I find it intriguing how the coverage of this news is being characterized as one-sidedly "bullish" when, in fact, we will only know if that's the case in retrospect. Not to mention, it is noteworthy that a broad gold schlock move occurred just before and coincident to the biggest crapper in the bunch essentially announcing via press release: "It's safe to buy gold schlocks now!" Will be interesting to see how this plays out..... Link to comment Share on other sites More sharing options...
LeeWhee Posted July 6, 2007 Report Share Posted July 6, 2007 The main reason why the gold shares are going ape-shit now... Global Gold Bottoming out. Shares leading the Metal into a renewed uptrend? Without a Doubt... http://www.zealllc.com/2007/glogold3.htm 589452[/snapback] If you traded based on the advice from Zeal (Adam Hamilton) over the past few years, you would be standing in a bread line today. Link to comment Share on other sites More sharing options...
Sudaca Posted July 6, 2007 Report Share Posted July 6, 2007 The main reason why the gold shares are going ape-shit now... Global Gold Bottoming out. Shares leading the Metal into a renewed uptrend? Without a Doubt... http://www.zealllc.com/2007/glogold3.htm 589452[/snapback] If you traded based on the advice from Zeal (Adam Hamilton) over the past few years, you would be standing in a bread line today. 589455[/snapback] Why? Is he recommending going long bread ? Link to comment Share on other sites More sharing options...
Black Prince Posted July 6, 2007 Report Share Posted July 6, 2007 NYSE did make a new all time high didn't? Just asking. Link to comment Share on other sites More sharing options...
seamus Posted July 6, 2007 Report Share Posted July 6, 2007 Even more interesting is that the bullish engulfing candle on TNX came right at the re-test of the broken long-term downtrend line... 589440[/snapback] Suds - I have every intention of selling paper next week starting with our corporate holdings, then mortgages, then agencies to establish a core short of 1/4 year. I will add to the short on any strength for the foreseeable future. Rates are now on synchronous sell signals and I will give credence to the lt monthly indicator. Link to comment Share on other sites More sharing options...
DrStool Posted July 6, 2007 Author Report Share Posted July 6, 2007 Well that's one less jackass we have to deal with. An ad hominem attack like the one I just deleted will get you banned every time. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.