Maddog
Shockingly they didn’t smash the VIX into the close, but tomorrow being Friday I suspect they’ll smash it tomorrow along with our pm’s. Can’t have a down SM and up pm’s going into the weekend you know… 🙂
There’s been lots of predictions for Sept. 23rd – end of the world sort of stuff – or at least some serious Armageddon type issues.
I might have to change from a couple months to a couple days until it passes.
Just a couple more days…. 🙂
Buygold
Agree re CoT’s
They are happy to flaunt there power in the CoT’s, same way they smash crimex in yr face..they could use the LBMA, but that is not as transparent, they just park all their fwd shorts there….well that’s my guess.
Waiting for the Vix smash now, due any minute .
I remember a time when…
USD weakness mattered to the price of pm’s
course I guess that was back well before the days of blatant COT rigging.
Pretty tough to question the validity of the COT’s because when commercials go tits short – we usually go down.
Farmboy
Wondering if I should write a book called “The World According to Buygold”
Agree with all about MUX, but even more about McEwen. I think we have to trust that he has a plan. If we do get down to $1.50 I’ll be adding as well.
Frustrating to see the shares get hammered day after day, but honestly unless you’re down as much as I am, these shares have to be traded – all of them.
Equisetum @ 11:47
Confidence in McEwen is the reason I’m continuing to hold as well. If it was just Joe Blow running it I’d probably be gone.
Cheers
Equisetum @ 11:47 Thanks For Sharing The Confidence in Mux
It is about the only mining company that I can say I have full trust in it’s management. I just doubled the number of shares I own in mux at a price of $2.02. And will do the same again if they want to knock it down to $1.50. Kinda hoping they d0!
Ps) Another reason why Mac may be making a very smart move is, if I understand it correctly, he is actually buying a producing mine. Something tells me actually having a producing mine is worth two in the speculative bush. 🙂 According to Buygold, in just a few months the race for the ounce is going to start up in a big way.
Re Gold
I guess the old $1300 resistance will now be support?
dollar index
$lip-$slidin’ away to the downside.
re: hold mux, agreed, i even picked up a little more @ 2.05 buy low, sell high? 2.05 for mux is low!
Farmboy @10:18 and ipso_facto@10:28. With you entirely on the idea of continuing to hold MUX.
Not that I have any insights into the pros and cons of the latest announced plans by MUX. It is just that I was convinced some time ago that MUX, First Majestic, and First Mining Finance all deserved to be in our buy and hold basket. My rationale was and is fairly straight forward; it is my feeling that someone who was in charge of previous developmental action in entities like Goldcorp, First Quantum, and First Majestic must have some corporate savvy still available for application in today’s setting in the PM sector. I have no anxiety in keeping a substantial portfolio of our PM-related portfolio under the guidance of McEwen and Neumeyer. Cheers. Equiz
Ew WANKA
I’m very happy to hear his home was not destroyed. I was concerned about him. He certainly did not need that on top of the other issues.
treefrog
Nice throw! Never trust a guy who can’t throw a decent spiral! 🙂
Farmboy @ 10:18
I hope you’re right Farmboy. If gold is substantially higher in the near future then Rob is going to look like a genius. I think he knows his shi* … maybe he can bring down the costs at Black Fox.
Still holding MUX.
Eldorado defers decision to halt operations in Greece as talks with Gov’t begin
Canada’s Eldorado Gold’s (TSX:ELD)(NYSE:EGO), Greece’s biggest foreign investor, is temporarily postponing its decision to halt operations and investment in the country as it begins talks with the government.
“We are very pleased with the constructive dialogue that is underway with the Ministry of Energy and Environment,” chief executive George Burns said in the statement. “[However] we preserve the right to place our assets on care and maintenance and to take prompt legal action to protect the company and its assets in Greece should [the talks] prove unsuccessful.”
more http://www.mining.com/eldorado-defers-decision-halt-operations-greece-talks-govt-begin/
ipso facto @ 9:57 Just Maybe Today’s ‘High Prices’ May Look Like Peanuts
a few years from now? Mac did good job at Gold Corp. I will cut him some slack on this current deal, thinking he probably knows better than most what is happening in the PM’s. Or what is most likely to happen. 🙂
I’m not very happy that McEwen decided to buy this high cost mine. Will MUX break $2
“Black Fox Sale Expected to Close in Early-October: Primero continues to work with McEwen Mining to facilitate the closing of the Black Fox Complex transaction, which is expected to be completed in the first week of October. Black Fox is expected to achieve full-year 2017 production guidance of between 50,000 and 60,000 ounces of gold at AISC of $1,150 to $1,250 per ounce. The Company expects that at the time of closing Black Fox will have delivered approximately 50,000 gold ounces attributable to Primero in 2017.”
Captain Hook @ 9:26 Well, You Got A Raise Out Of Me I’ll Give You That
Tell you what, Im going to print your generous Public Service Announcement and tape it right up there to the other collection of useless Public Service BS. Right next to my favorite one, “In case of nuclear or gas warfare attack, be sure you tape your windows and doors with plastic and duct tape.
Interesting
that with gold and silver being beaten down today that there are so many mining shares that are green. Good time for the big boys to come in?
All I’m trying to do is raise public awareness and promote healthy thinking…
…I don’t stick my hand in the garbage disposal and hope for the best.
Cheers
Captain Hook @ 9:05 Now If That Aint BS, I’ll Kiss Your Smart Arse
“You can’t blame the bankers for that.”
FYI
An Exercise in Imagination
- Imagine September 2017 is September 2007.
- You know (like you knew in September 2007) the stock market is a few months away from its peak and the crash is imminent (just imagine).
- You know all your stocks – good or bad – will also fall in the coming crash (hard, but please imagine). Though the good ones will again rise like Phoenix and the bad ones will continue to lose for the next ten years (yes, imagine the next ten years).
- Imagining this future you already know about, what should you be doing now, in September 2017…I mean, September 2007?
- Imagining that may lose a lot of money (some of it permanently) over the next few months, and also over the next ten years (again, some of it permanently), how would you position your portfolio so that you don’t lose much, and in fact gain a lot given that you also know the broader market is going to double over the next ten years?
- Check your existing portfolio, sell all your stocks mentally, and then look at each stock and answer this question – “If this stock was not in my portfolio already, would I buy it today…especially when I know what’s coming in the next few months?” If the answer is no, question what that stock is doing in your portfolio?
One rule of the above exercise is that, even with the benefit of hindsight, you cannot time the market i.e., sell everything four months later and buy again in March 2019 (as if it was March 2009). You just don’t know when that peak and bottom would appear, only that it would all happen in the next eighteen months.
Is your head spinning already? When I was going through this exercise over the last few weeks, mine was. Not because this exercise was something difficult to do, but just for the amazing insights it left me with after I finished it off. And a few action points – I ended up reducing allocation in a couple of stocks and increasing allocation in a couple of others that were already in my portfolio. Fortunately, I had nothing to sell in terms of bad business quality.