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Daily Digger - Fryday Oct. 1, '04


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#16 Moon Man

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Posted 01 October 2004 - 05:30 AM

This is from Old Habits his post yesterday....

Under a 1971 agreement, most IMF gold is valued at just $40 an ounce, or one-tenth of current market prices. The IMF holds 103.4 million ounces of gold, one of the biggest gold stocks in the world, which is valued on its balance sheet at $8.5 billion.

Global development group Oxfam has estimated that revaluing the IMF gold would raise around $32 billion for debt relief.



#17 traderfromhell

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Posted 01 October 2004 - 06:01 AM

Near a 3 month support in the buck. Obvious support if 87 goes is 85 which has held any declines in check for some time.

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#18 traderfromhell

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Posted 01 October 2004 - 06:06 AM

Very interesting bottoming pattern last five or so days.

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#19 traderfromhell

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Posted 01 October 2004 - 06:17 AM

This is a gravestone doji. Doesn't mean the move is over but not a positive candle by any means especially with the divergences. Really if you weren't long before yesterday were you paying attention? Some consolidation should be expected in the miners and the metals from these levels. I would buy the breaks we should get from here. I think a mojor move up is in the near future after some consolidation. TPTB will be defending their positions. It feels to me like the jig is up but they won't go down w/o a fight.

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#20 plantigrade

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Posted 01 October 2004 - 07:30 AM

(CFTN) Very interesting bottoming pattern last five or so days.

Yep, ominous. Bought below 0.90. :)

Clifton's subsidiary also makes that wonder Silver medication.

#21 DrStool

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Posted 01 October 2004 - 08:13 AM

In the Top Zone

Move Goes Parabolic

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#22

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Posted 01 October 2004 - 09:39 AM

about 3 days ago I noticed and posted t\about the huge volume (150K) volume into the super low float (7MM) Copper company LCC , with no change in price ($3.62). Today the stock price is $4.30

Glad I bought more of it then.

#23 Tig 'Ol Bitties

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Posted 01 October 2004 - 10:04 AM

DJ Brazil's CVRD To Propose $250M Extraordinary Dividend


10/01/2004
Dow Jones News Services
(Copyright 2004 Dow Jones & Company, Inc.)

SAO PAULO (Dow Jones)--Brazil's Companhia Vale do Rio Doce SA (RIO), or CVRD, announced late Thursday that it will propose to its board of directors on Oct. 13 the payment of an additional $250 million in dividends to shareholders this year.

In a statement, CVRD said it will disburse to shareholders on the same date the second half of its scheduled $550 million minimum dividend payment for 2004. That means shareholders will receive $275 million, or $0.24 per common share.

If the extraordinary $250 million dividend is approved, shareholders will receive an additional $0.21 per common, or preferred, share.

CVRD pointed out that this year's $800 million dividend payout will be 18.5% higher than the $675 million the company paid out last year. CVRD, the world's biggest iron ore miner and exporter, is flush with cash thanks to strong demand and rising international prices for its ore.


RIO Dividend news

Great call on LCC Hadjin, I have been meaning to post that the last two days. Nice work!

#24

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Posted 01 October 2004 - 10:17 AM

Anyone have any thoughts on HEC ? I'm holding it and it really has been a non performer during the Oils/gas run. Not ready to let it go, but would appreciate anyones observations.


Thanks.

#25 traderfromhell

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Posted 01 October 2004 - 10:24 AM

Anyone have any thoughts on HEC ? I'm holding it and it really has been a non performer during the Oils/gas run. Not ready to let it go, but would appreciate anyones observations.


Thanks.

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#26

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Posted 01 October 2004 - 10:25 AM

what's up w/cau? is it a buy here? thoughts are appreciated! tia dharma

#27 traderfromhell

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Posted 01 October 2004 - 10:27 AM

No like.

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#28

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Posted 01 October 2004 - 10:58 AM

Thanks for the input

#29 Moon Man

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Posted 01 October 2004 - 11:18 AM

Hadjin, nice LCC call indeed. Also your PAL call was right on the mark. With regards to HEC, it seems a real popular stock with punters, but I have no idea to be honest.

Dharma, I've been looking too into CAU. It seems though as they had some filing problems of SEC documents. This shouldn't be a huge problem, but may still be weighing down on the stock. But better check yourself.

http://biz.yahoo.com.../lath016_1.html
http://biz.yahoo.com...930/cau8-k.html

#30

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Posted 01 October 2004 - 11:32 AM

thanks mm, cau has long term support @ 3.66 which is .382 of 5.37-.91 and there is other support #s in this area. also, on an hourly chart. the rsi is diverging. i am going to take a shot at it here. dharma





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