There are two kinds of front-running. First is market-based front-running. You try to figure out what the Fed is doing by reading its smoke signals and looking at how it slices and dices its meeting statements. People invest or speculate against the Fed's next incremental move.
Second, there is illicit front-running, where you have a friend who works for the Federal Reserve Board who tells you what happened in its meetings. This is obviously illegal.
But frankly, there is also just plain crony capitalism that is not that different in character and it's what Wall Street does every day. Bill Dudley, who runs the New York Fed, was formerly chief economist for Goldman Sachs and he pretends to solicit an opinion about financial conditions from the current Goldman economist, who then pretends to opine as to what the economy and Fed might do next for the benefit of Goldman's traders, and possibly its clients. So then it links in the ECB, Bank of Canada, etc. Is there any monetary post in the world not run by Goldman Sachs?
PMI Gold Corporation (TSXV: PMV.V - News) (ASX: PVM.AX - News) is pleased to advise that it has generated several significant new oxide gold targets from its maiden Aircore drilling program at the Kaniago Prospect, located within a 15km area of influence immediately west of its flagship Obotan Gold Project in south-west Ghana (Figures 1 and 3) where a Feasibility Study is underway on a new gold mining operation.
The results have highlighted the potential to delineate satellite sources of oxide mineralisation, within an economic haulage distance of the proposed processing facility at Nkran (Figure 1), to supplement mill feed from the four main Obotan deposits, Nkran, Asuadai, Adubiaso and Abore.
Drill testing of the Kaniago Prospect represents one of many priority exploration targets for PMI as part of a major exploration push currently underway across its extensive ground holdings in the Asankrangwa Gold Belt. Drilling activity continues to gather momentum as part of this regional exploration program, in parallel with the Obotan Feasibility Study which is due for completion in mid-2012.
Gold at $700 would be a drop below the most extreme Fibonacci retracement (dotted horizontal lines on the attached overly busy chart - sorry), and violation of the shallowest uptrend from 2001, so surprised to hear that from a technician. My current expectation is for the lower channel line, currently around $1487, to hold.
I feared that the breakup of the Euro would occur over the Easter long weeekend, so sold positions in TEF and VE. Lord Wolfson has offered a prize for the best solution to managing the potential catastrophe, some info here: http://c.moreover.com/click/here.pl?z6227511726&z=...
I find Cathy Dobbs solution to be the most sensible, in effect hitting the "Undo" button. It could well be that holding equities in vulnerable countries is a good way to preserve assets during a currency event, but I prefer not to second guess.
You might simply split your investment between GDXJ and GLDX. Basically this lets both ETF managers do the hard work of deciding which companies are "suitable" for inclusion (I imagine they do a certain amount of fundamental research, at least initially). It means you'll miss the gambler's thrill of finding that one junior that finds the elephant and avoid losing a chunk of your stake in the hunt.
Replying to myself, this didn't work as I expected it would. Is it because the break of the neckline was into a gap, or is it simply just another H&S that didn't work?
I've given a casual thought to solar electricity. I'm in N Cal, and in a situation where I have enough at the penalty 200% rate that it's probably economic to install a small PV system to eliminate the penalty rate component.
It's actually not too far from being economic for a complete system, and there are installers offering to provide the installation and, in return, being paid, at a lower rate (they don't say how much lower) instead of PGE. I think we're close to PV being an investment offering a real rate of return, just need a little more improvement in panel efficiency and manufacturing scale.
Juniorgoldminer, first let me congratulate (and thank) you for your efforts.I'm long Pilot (since creation and added subsequently) so was aware of Sunrise, but sat on my hands like a fool. I've also been following WKM off and on, but I'm a little leery based on my respect for the Pilot team, my thought being that they would have held on to the Long Canyon properties if they thought they were good prospects.
I'm also long MDW, and have been getting nervous lately in the face of persistent weakness - any thoughts on that one?
No doubt there's a lot of useless babble on it but there's actually some use for facebook as a "one to many" way of keeping a lot of people up to date with what's happening in an area of common interest. I suspect that there will be more commercial interest in the future. I note that Vad is there - any real value, do you think Vad?
I signed up as a requirement to create a presence for a non-profit that I'm involved in. One of my "friends" (actually a good friend) posts photos while on vacation, and I get to see them automatically, rather than him needing to email me link to flickr or picasa and me having to click on it.
How much value to put on this is "in the eye of the beholder". I know one person who won't be looking to buy in :-)
At the back of my mind I have a concern about US trusts such as HGT, such that they can be wound up if their revenue streams fall below some threshold. Sorry I can't remember the details, but you may want to research this before putting any hard earned cash into them. Should you find something interesting, please publish it here.
A little anecdote to add to Davefairtex's discussion on money. Fiat is not always money either.
Last year I went to the UK on vacation and attempted to use a 20 pound note that I had from a previous visit. The store would not accept it. Apparently the note had been rendered obsolete by a new design intended to reduce counterfeiting, so was no longer even currency. Fortunately I could still swap it for a replacement at a bank, but as I said to my friend, it wouldn't have happened with a gold coin. So Dave, don't bury your paper stash too deep.
There's another book coming on the subject, so here's an interview with the author who shares at least one of Bill's thoughts:
http://www.theaureport.com/pub/na/13278
There are two kinds of front-running. First is market-based front-running. You try to figure out what the Fed is doing by reading its smoke signals and looking at how it slices and dices its meeting statements. People invest or speculate against the Fed's next incremental move.
Second, there is illicit front-running, where you have a friend who works for the Federal Reserve Board who tells you what happened in its meetings. This is obviously illegal.
But frankly, there is also just plain crony capitalism that is not that different in character and it's what Wall Street does every day. Bill Dudley, who runs the New York Fed, was formerly chief economist for Goldman Sachs and he pretends to solicit an opinion about financial conditions from the current Goldman economist, who then pretends to opine as to what the economy and Fed might do next for the benefit of Goldman's traders, and possibly its clients. So then it links in the ECB, Bank of Canada, etc. Is there any monetary post in the world not run by Goldman Sachs?
Recently reported Q1 of 0.21c. Assuming that is repeatable gives a forward PE of less than 4. I bought a little PPP this morning.
If any one is using MS Skydrive, you can lock in 25GB of free storage if you act now - they're changing the terms of Skydrive:
http://blogs.msdn.com/b/b8/archive/2012/04/23/the-...
Just log in to Skydrive and click on the Manage Storage link and then choose (you can also get more storage for a fee)
PMI Gold Corporation (TSXV: PMV.V - News) (ASX: PVM.AX - News) is pleased to advise that it has generated several significant new oxide gold targets from its maiden Aircore drilling program at the Kaniago Prospect, located within a 15km area of influence immediately west of its flagship Obotan Gold Project in south-west Ghana (Figures 1 and 3) where a Feasibility Study is underway on a new gold mining operation.
The results have highlighted the potential to delineate satellite sources of oxide mineralisation, within an economic haulage distance of the proposed processing facility at Nkran (Figure 1), to supplement mill feed from the four main Obotan deposits, Nkran, Asuadai, Adubiaso and Abore.
Drill testing of the Kaniago Prospect represents one of many priority exploration targets for PMI as part of a major exploration push currently underway across its extensive ground holdings in the Asankrangwa Gold Belt. Drilling activity continues to gather momentum as part of this regional exploration program, in parallel with the Obotan Feasibility Study which is due for completion in mid-2012.
http://finance.yahoo.com/news/discovery-kaniago-st...
Gold at $700 would be a drop below the most extreme Fibonacci retracement (dotted horizontal lines on the attached overly busy chart - sorry), and violation of the shallowest uptrend from 2001, so surprised to hear that from a technician. My current expectation is for the lower channel line, currently around $1487, to hold.
I feared that the breakup of the Euro would occur over the Easter long weeekend, so sold positions in TEF and VE. Lord Wolfson has offered a prize for the best solution to managing the potential catastrophe, some info here:
http://c.moreover.com/click/here.pl?z6227511726&z=...
I find Cathy Dobbs solution to be the most sensible, in effect hitting the "Undo" button. It could well be that holding equities in vulnerable countries is a good way to preserve assets during a currency event, but I prefer not to second guess.
http://seekingalpha.com/article/492151-top-10-most...
You might simply split your investment between GDXJ and GLDX. Basically this lets both ETF managers do the hard work of deciding which companies are "suitable" for inclusion (I imagine they do a certain amount of fundamental research, at least initially). It means you'll miss the gambler's thrill of finding that one junior that finds the elephant and avoid losing a chunk of your stake in the hunt.
http://finance.yahoo.com/news/paramount-gold-silve...
Nice pop on the opening. Note CEO Christopher Crupi bought 100k shares after recent financing.
Kudos to Jock for bringing PZG to us.
Long PZG
Replying to myself, this didn't work as I expected it would. Is it because the break of the neckline was into a gap, or is it simply just another H&S that didn't work?
Pilot Gold
Prophecy Coal
Pershing Gold
Quaterra Resources
American Bonanza Gold
Radius Gold
Perseus Mining
Pelangio Exploration
Handeni Gold
UCORE rare metals
Lake Victoria Mining
Centamin
Comstock Mining
Timberline Resources
Loncor
Lakeshore Gold
and a glance at their charts will reveal that they're NOT recommendations, though I do want to add to Pilot (ex Fronteer) if it comes to me a bit.
About to break out of a reverse H&S on 10 min chart (sorry, print screen not working so can't post) neckline at $9.80. Not sure about volume pattern.
FD long NGD
I've given a casual thought to solar electricity. I'm in N Cal, and in a situation where I have enough at the penalty 200% rate that it's probably economic to install a small PV system to eliminate the penalty rate component.
It's actually not too far from being economic for a complete system, and there are installers offering to provide the installation and, in return, being paid, at a lower rate (they don't say how much lower) instead of PGE. I think we're close to PV being an investment offering a real rate of return, just need a little more improvement in panel efficiency and manufacturing scale.
Forbes gooses RBY, 3 day downtrend broken:
http://www.forbes.com/sites/energystockchannel/201...
FD: long RBY, alas at higher prices
Juniorgoldminer, first let me congratulate (and thank) you for your efforts.I'm long Pilot (since creation and added subsequently) so was aware of Sunrise, but sat on my hands like a fool. I've also been following WKM off and on, but I'm a little leery based on my respect for the Pilot team, my thought being that they would have held on to the Long Canyon properties if they thought they were good prospects.
I'm also long MDW, and have been getting nervous lately in the face of persistent weakness - any thoughts on that one?
No doubt there's a lot of useless babble on it but there's actually some use for facebook as a "one to many" way of keeping a lot of people up to date with what's happening in an area of common interest. I suspect that there will be more commercial interest in the future. I note that Vad is there - any real value, do you think Vad?
I signed up as a requirement to create a presence for a non-profit that I'm involved in. One of my "friends" (actually a good friend) posts photos while on vacation, and I get to see them automatically, rather than him needing to email me link to flickr or picasa and me having to click on it.
How much value to put on this is "in the eye of the beholder". I know one person who won't be looking to buy in :-)
At the back of my mind I have a concern about US trusts such as HGT, such that they can be wound up if their revenue streams fall below some threshold. Sorry I can't remember the details, but you may want to research this before putting any hard earned cash into them. Should you find something interesting, please publish it here.
Certainly seems that a few are speculating it'll happen.
FD long LEXVF from long ago :-(
Pre-Feasibility Study Shows After-Tax NPV of US$416m and IRR of 31% (At $1,300/oz gold price)
http://finance.yahoo.com/news/PMI-Set-Q3-2012-Deve...
Sounds promising, but as my grandmother used to say, "There's many a slip 'twixt cup and lip"
FD long PMVGF
A little anecdote to add to Davefairtex's discussion on money. Fiat is not always money either.
Last year I went to the UK on vacation and attempted to use a 20 pound note that I had from a previous visit. The store would not accept it. Apparently the note had been rendered obsolete by a new design intended to reduce counterfeiting, so was no longer even currency. Fortunately I could still swap it for a replacement at a bank, but as I said to my friend, it wouldn't have happened with a gold coin. So Dave, don't bury your paper stash too deep.