[quote=The CoinGuy,Oct 31 2005, 12:50 PM]
A few small points if I may...
1) Can the news get any worse on these three?
2) Technically speaking, each time these three stocks take off into the wind. They've alway's come back to the break out area. A traders paradise, although perhaps a buy/holder's nightmare.
3) I've spoken with all three companies, plus I've spoken to all of the sources I can muster, and to be frank with you I came away with a different picture of the situation than I hear the "advisors" or the news media out there touting. To sum it up short...and succinctly. I believe the Venezuelan government wants to actually put their mines into production and is worried about the companies who have concessions and are allowing their mines to sit dormant. This is the reason for the review. Also, I will add, their mining sector is somewhat in disarray, they look like growing pains from this participant.
Sure there is risk, some might deem paramount risk. This is what makes a market.
Venezuelan Lawmakers Back Mining Permit4) This administration in Washington is far from being pro Venezuelan, notice the use of "confiscation of mines" used in the articles? Continue to believe it, I don't. I interpret these articles as demonstrating an ongoing anti-Venezualan campaign, and disregard them in to-tal.
Again, a market has to have a buyer and a seller. At these prices, I'm a buyer, my trader's nose smell's opportunity, I could be wrong, but you take your chances, and live with the consequences.
I'm not recommending anyone follow my path, although, I'm pleased to have you sit here and watch me fall flat on my face. Feel free to gloat when I'm wrong.
The market trampled my ego a decade ago.
Best,
TCG
P.S. Meant to forward this a week or two ago...
Denver Gold Forum - 2005The Denver gold show was about the same time as the "announcement", take a listen to HL's & KRY's presentation.
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TCG -
Firstly and foremostly, I would not throw HL or any of those names back in your face if they went south.
My glass house doesn't appreciate me throwing stones.
For me, I've just had too many stocks bite me in the tail end so I'm just less inclined to take the risk. If things go as some of us hope, there will be enuff gains to go around. I do own more GBN than I care to mention - so I guess i'm in HL anyway.
I'm a little worried about a couple of things.
#1 Ralph Acampora and the CIO of U.S. Global Investors were on different segments on CNBS today. Honestly, gold got a good 20 min. of exposure.
#2 NEM acted terribly today. Why? Does the market think that NEM is going to try and outbid ABX for PDG? The action in RGLD has also been piss poor.
Some of these stocks like GBN and CBJ etc., better get it in gear this month or we'll be looking at tax loss selling and there's going to be some ugly action.
Feedfool has a turn date of 11/4, let's hope that turn is up.