It is option expiration week, girls, and the gold/silver CALL WRITERS in the slimy wall street club are SUCKERING ignorant small spec FOOLS into buying gazillions of WORTHLESS gold/silver CALL options, again.
Given how terrible the entire gold/silver sector trades today, there is NO logical reason for this AEM mega-bubble to trade in the green today...NONE!!!!
Gold prices are steady to slightly higher in early U.S. trading Friday, but have backed down from the overnight gains that scored three-week highs. There is still some risk aversion in the market place heading into an uncertain weekend on the geopolitical front. December Comex gold was last up $1.40 at $1,313.90 an ounce. Spot gold was last quoted down $0.30 at $1,313.25. December Comex silver last traded up $0.026 at $20.085 an ounce.
Geopolitics is front and center in the market place Friday morning. Thursday night President Obama authorized air strikes against militants in Iraq, who have thousands of civilians trapped without food or water on a mountain in northern Iraq. Also late Thursday the cease-fire between Israel and Hamas was broken. Hamas is again firing rockets into Israel, and Israel has resumed air strikes on the Gaza strip. The Russia-Ukraine crisis has heated up this week as Russian troops are massed at the Ukraine border. Reports also said Russian rebels shot down a Ukrainian military jet Thursday.
Here is the BAD NEWS for all my POOR sweet gold/silver SUCKERS and LOSERS:
AEM remains in an ongoing vicious BEAR market, and there is one immutable Law of Markets that every smarter pro trader knows full well:
The BEAR ignores all "good" news, the BEAR only pays attention to BAD NEWS!
That guarantees that this AEM mega bubble will continue to dive into the close of 2014!
Any earning estimates or ideas on what production from Osisko/Malartic will be credited to the acquiring companies for the quarter?
Sentiment: Strong Buy
Said to be positive on all metrics but I sure would like to see more specific information.
Sentiment: Strong Buy
I use an alert system (free) called Kognosi Stock Alerts. I am in no way affiliated with them. I just get buy/sell alerts and they sent me a buy on this stock last night for a BUY $ 39.60. I don't know anything about the company only that a reliable alert service has it as a BUY.
Just broke $40 during the traditionally weak summer season for gold stocks. Tomorrow Indian government expected to announce budget plans including easing of gold import tariffs along with schedule for phase out. This should drive physical demand and support mining shares. Watching fundamental drivers is advised vs. making future price predictions..
As the gold and silver bear market increase in velocity, AEM is going to crash a lot lower.
My own price target for AEM is 10 bucks or less before end of 2014, as the rapidly expanding panic sell wave in this ver sick sector begins to slam it in the worst way.
Most of the 52 week highs in these pathetic golds and silvers are a million miles below their all time highs....NOT the least bit impressive!
There is nothing the least bit bullish about the forever dying gold and silver sector.
It should be just as stunning as ALL those Jan AEM calls WIPE OUT WORTHLESS, per the gold and silver bear market norm.
and if you don't take your profit when a stock hits a 52 week high, don't come crying on this board about how your stock is not performing. Take the money and run.
Cramer is wrong here. AEM is a relatively large gold producer with good financials that will attract a lot of buying interest from hedge, mutual, and tech funds looking at gold producers as a way to play what appears to be a substantial level of inflation coming soon along with a Cental Bank that appears content to let it rise.
Combine investor interest, money flows, a much higher gold price, big EPS gains, and a share price target of above $80 a year or so out is not out of the question.
good to know what the "experts" say