for the many reasons i'm here buying AUMN, i'm pretty sure my pride isn't on the list.
but i appreciate your advice.
and i look forward to reading your book
"These Markets and How They Work"
sure it will be a real page turner.
LOL.....you sound like an angry, bitter old man....and one who has an elementary level understanding of the markets at that. I suggest you lay aside your pride and try to learn about these markets and how they work. Otherwise I would strongly suggest you NOT be in the markets right now. It seems you might be under the delusion you know what your doing, which is dangerous and unfortunate. This game is not for beginners big guy.
It is partly my fault for thinking you may know what your doing. Its clear I was seriously mistaken.
Markets aside, try to get rid of your pride and bitterness......life is to be enjoyed.
Good luck bud, just trying to help!
here's something for you to learn, big guy:
i don't care. i'm just expressing my opinion. i don't need to be right every time.
now have fun slapping yourself on the back today for making a worthless prediction that isn't even true at the moment.
no one care. except you.
Patience my friend. Things will set up with this eventually but according to the chart it was likely not going to happen today. Learn your technicals and you wont be dissapointed as often.
Good luck big guy
tell me what you really think about Kirchner. =)
i think we're going to learn a lot today...looks like a big volume day is setting up and this puppy has got to break one way or the other real soon.
The new law does not preclude the exporting of capital from sales. Rather it just forces the proceeds from export sales to flow through the Argentina finance system first, and thus taxed accordingly. Bottom line, this does not sound like that big of a deal.
This recent news has had nothing to do with recent weakness in AUMN. It has had negative effects on many companies today including Pan American, Yamana, Manera Andes, and most noteably Extorre Mines, which is down over 20%.
Condisering AUMN has a few other properties in Argentina, this is not necesarily bad news. Besides, we are still several years from production there anyway.
That said, I am disgusted with this stock over the last week. I'm missing out on a $130 move in gold, a several dollar move in silver, and a 400+ move in the markets. Where I should be up several %, I'm down with this thing. Fortunately I have learned a lesson with other similiar circumstances and will continue to hold this with hope. I know if I sold this thing would explode upward. Just my luck...as its always been.
This stock has been very disappointing, but therein lies opportunity. My sympathy goes out to people like me who jumped in too early and have weathered a huge % loss. Last year the stock went vertical from $6 to $30 just based on the outstanding El Quevar discovery. Today, we are at the same price, except El Quevar is shaping up to get a lot bigger and AUMN managed to steal ECU for chump change. ECU's Velardenas mine is ramping up and will start to generate significant cash flow next year and eventually be producing several millions of Ag ozs with significant gold byproduct as well. Velardenas is not a low grade mine, this is good ore, and its a massive long-life resource, so I think AUMN did well to secure a cornerstone asset to generate cash flow for the development of El Quevar, which is the real long term jewel. Looking forward to updated 43-101 coming for El Q in the next Q. That could be the catalyst. Silver breaking back up would help too LOL. Clearly AUMN has a SMALL share structure and a LOT of cash on hand too.
Its easy to make the cash AUMN is dirt cheap, but so is virtually every silver miner. They all seem to have priced in silver going lower, which is possible, but it won't last. SILVER DEMAND LONG TERM IS F8CKING RELENTLESS FROM EVERY DIRECTION AND MINE SUPPLY HAS BEEN BEHIND THE CURVE FOR DECADES. Lots of catching up to do. The once massive silver inventories have dwindled to next to nothing compared to the "olden days." What other commodity trades for less than in 1980?!?!?! Silver miners now are severely mispriced. Crappy debt-laden general equities with no growth and horrible fundamentals trade for twice the multiples of any silver miner.
I believe there are millions of people worldwide accumulating silver for the long haul, and millions more potential buyers. The math is simple: many millions of people buying hundreds, thousands, or TONS (like me) of silver equate to billions of ozs of silver, more than exist currently available aboveground. PRICE WILL RISE, even a short term deflationary downward impulse be damned!
Did I mention the fact that there has never been a fiat currency that has every gained value for any significant period of time? We are all fiat now LOLOLOL (not me though haha).
I agree with a lot what you say. While it is sort of difficult to value an issue without earnings as AUMN, it gets even more difficult when there are questions about the management. Now I know that they built a large silver mine, but the fact that they went into Ch11 sort of spoils it. I understand they played with hedging the silver price and got burned during the big crash. But how come the management wasn't changed, while the shareholders got wiped out. And every time a "suspicious" event happenes ( like a private placement at 52 weeks low or a merger of equals) people start selling first and asking question later. I don't mind it, I liked it and bought it at $23 let alone in this price (so did Sentient group by the way at around $18) but I do understand that is a speculative investment and not a sure thing. Hope most people understand that too.
Anyway all cosidered, I think this is a $15 stock right here right now.