Invisible hand allowed HUI to close over 500 a couple days before knocking it down shaking out spec money. Classic headfake, visible in that it never got much above 500 as they reloaded their short position there.
I am often impressed with their ability to manipulate.
Good thing NG management cannot literally destroy reserves in the ground, and actually good explorers, but dilution, ineffective use of capital greatest downside.
Certain juniors each taken out back and shot every day, often on good news (old short trick to whack the opening on news, stampede the sheeple that the news is really 'baa-aa-aad").
AGI.to, Swedish meatball, SSV and others, classic short raids.
As they do, good stocks poke their heads up like MFN, CitySt, kindof a whackamole for jrs.
I don't believe the hedges are that short juniors, as JS says, but more hit and run short attacks to skew sentiment, raise beta.
Still JS undoubtedly has his sources, some I am sure are VERY well placed as not every staffer or deputy in the N W erder orgs or GS is immoral.
JS is dead wrong on 1650, gold will go much higher, and I am a little concerned about the move from 650 to 995 as presaging worse geopolitics than thought.
Oil could be venez action, you never know what is really happening, we could have a full combat regiment off the shore of Caracas. I used to have a job that included reading classified U.S. intel summaries daily and it was amazing what was happening in the world that never made the media, most of which usually blew over or was resolved peacefully.
Oil tells me something is happening, that we may never know, threatening supply.
Gold will go min to 3 - 5K by 2011. JS will raise his estimate this year some time to at least 2400 -- his credo is to project numbers he is 100% confident of.
I also doubt gold will hold its high as it is the most emotional of commodities and will likely have a blow off, like dot com. Could it hold a blow off top? Only if USD is in deep doo doo or Fed waits for a blowoff top to institute ratio.
Gold and silver shares will trade like money soon enough, and eventually like dotcom paper.
JS is wrong, silver IS money.
SLW: I posted it was a steal at post GG secondary prices $15. The company is staffing up its M&A dept, has room on its credit line, and there are still bargains out there so look for more growth though they will have to pay up, probably $10 per oz vs the $4 they've been paying. In this way, SLW gains from the tight capital markets for PM companies as good companies cannot raise capital at fair prices, won't hedge, cause of the price fixing by the Canadian hedgefund mafia that shorts companies before deals and demands heavy warrants. Warrants are the biggest obstacle for these co share prices as hedges swing trade stock/warrants without risk, and can sell stock below offering price by holding or selling off their warrants.
Waiting for new capital to come into the PM sector at fair prices and make their money on cap apprec.
Petro dollars have to be stacking up faster than they OPEC can count it and bag it. Will be looking for a new home.
We are invested in the ONE sector the entire Werld Erder has the greatest vested in to suppress. Global forces will win out, but it won't be easy, pretty or fast.
Looks like the AirForce Tanker deal for the EC is a payoff for gold stashed away for Hank and Co, and for EC intervention in Euro.
Strongest military on Earth and the country is being looted wholesale from within.
The US was suing EADS in World court for illegal trade practices, subsidizing EADS consortium, and Gates gives them the AF contract.
Risk adjusted vs gld or slv, hui still sucking wind here. Looking for it to outperform gld 2-3x on up days, and outperform and go green on down gold days. May take Q1 results to warm up the sector.
Suprised we are not seeing M&A on jrs, and take this as either a good sign the conspiracy does involve the majors or its controllers, or means majors and or jrs will be pushed down still.
Waiting for PetroD and SWF Dollars to show up in PM equities, what the heck else are they going to buy with USD, the DJIA? Lot of commodity ETFs good place for SWF to move USD, how long can PRC and Opec sit on declining USDs when they can move a few billion here and few billion there into investments that will hold value? They have to exchange dollars to invest in their own regions or infrastructure.
well maybe NG can't destroy gold in the ground, but that doesn't stop them from further damage to the stock price. Problem is that Rick actually thinks he can become an successful producer. No way.. I have spoken to this guy at length and frankly I was shocked at just how stupid he was.... this last bonehead move re: floating more stock, I think caused another vote of no confidence . It could be that Rick has already been bought off by Barrick, maybe the lower he can deliver the company to them, the bigger option package he gets as the new VP of Barrick.. the other bonehead move was to release the GC cost study, right on the eve of tax loss selling season... only a complete fool would do this, as you would have to guess the shorts would pile in on this news so close to year end.... so either Rick is a total tactical moron , or he's sold his shareholder's out. Now the zionist firm Salman who was first to downgrade NG for the disaster at GC, has issued a "sell" down to $9... I have no doubt that Salman is taking their orders from Barrick... so maybe with this and the rumors of NG being out of money by summer, sets the table for a cheap TO attempt here. I think, in this case Barrick might offer $13.50 and say that GC has no value.
Too bad that such great deposits are held in the hands of a child.