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Hecla Mining Co. Message Board

  • drawnfire911 drawnfire911 Oct 6, 2009 6:23 PM Flag

    Anyone catch "fast talk" today?

    Everyone in a lather over glds move. Prediction's & sustainability all over the place. Dennis gartmans interview I found interesting, probably because he voiced some of the concern's I have. At least on a very short term basis. He claim's there is a ton of interest right now in the PM trade[long]--also a ton of traders on the short side of the U.S.$$ In short, he is very cautious of both position's right now. Think's a little unwinding is in the card's. Having spent decades trading the comm. market's [and making money]probably makes him a little bit chicken sheet hanging around too long with the crowd--I can relate to that, it comes with our age I guess! You can catch the interview by googing CNBC-fast money today.

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    • Read my post drawnfire- Gartman has missed the whole move

    • Drawn, Bodium;
      Thanks for the excellent replies. Well reasoned and articulate, exactly why I bother to visit these boards!

    • As usual, thanks to Drawnfire for stating the situation as it is: it is a traders game, pure and simple. As I have stated before I have a core account and a trading account, but in the near future I have decided to dollar cost average out of the core account and on PM pull backs do the same going back in. You fat cats with a lot of money and shares can play the Buy and Hold game, but I simply will not, because I'm not going through another 2008.

      When I hear the term ‘Fast Money’, all I hear is Rod Stewart’s, ‘Hot Legs’. Talk about Fast Money, when I sold the shares I picked up yesterday at $4.35 for $4.89, only to see it go way higher, I thought, damn I screwed up. So even when HL started going down big with the rest of the market, I was amazed to see a previous buy at $4.69 filled! I put it in for a sell at $4.85 and it didn’t go until the AH, but it went.

      Now I only trade in lots of 2,000 or 3,000 at a time, but for me, $2,000 is a good days work! A lot of you would think I over trade, but if on some trades I make $120 and it cost me less than $20, well, let me tell you that as much as I like HL, it don’t have that kind of pure profitability. You guys with a ton of shares, trade a few every day. Have some fun.

      I don’t make predictions, I just try to trade and have fun. If I can have one night trading stands night after night, I am a happy camper, so obviously I’m not married to HL or any stock. Buying back a stock for more than you sold it for is just a state of mind. The past 1,000 trades have nothing do with the next trade. If the game changes you buy or sell as the case may be. Each trade is a new trade.

      I’ve had goldbugitus back in the 80’s and early 00’s and am here to tell you that it is not terminal! Sell strength and buy weakness and KNOW the stocks you are trading, because the volatility is guaranteed to go higher. We are a 24 hour market worldwide and the US is rapidly loosing its dominant influence in the trading world, given that any fool with a computer, DSL (or better) and a cheap broker, can trade. All markets will soon be 24 hours, guaranteed or they will go away.

      Live long and prosper and have fun while you are at it!

    • Gartmen's a baffoon.

    • PM miners have been under the radar and out of the headlines for so long, it will take a while to get used to hearing CNBC headlines like;

      "Hecla Mining, North America's leading silver producer, set another 52 week high today amid heavy trading and soaring metals prices..."

      At what price do you think HL will be when they finally "get it"?

4.09+0.22(+5.68%)May 25 4:02 PMEDT