Earnings miss (after earnings revised higher several times) due to operational issue at Chapada. Gold prices are up $100 since the q2. AUY made money in q2 and will make even more money in q3.
From a desktop go to the main stock page and scroll down. There are tabs along the bottom and one is called "conversations"
Couldn't agree more. And still plenty of talk of poor corporate earnings to come over the next couple weeks.
I knew I was out of time on AUY so jumped on the VXX train. All aboard!
Closed 110pc at $0.86 at the close, calling 1500 shares tomorrow. That's a total of 4,000 shares avg $3.75 all with the house's money now.
If I'm calling shares tomorrow I have to close out today for less than I wanted. Tricky tricky! Or forego the shares and take my chances just in the cash tomorrow.
Helicopter money would be distributed to the populace. Like a living wage. Or Bush's tax refund. As to easing and asset purchasing, I think we can expect the Fed to always provide new currency. At some point there is a snap. The gold markets are hinting at it now.
And we're off to the races!
That is not found in the CBOE press release announcing the listing of VXX options nor found in the prospectus. It is quite possible some other VIX-related security is a European style contract but not the options currently trading on VXX.
I have to admit you startled me enough to go double check. I don't see anything over at CBOE's site for VXX indicating these are non-standard options, so it appears to me the sell-to-close trade is available during normal market hours any day.
Miners not playing along with the squeeze on gold this morning. VERY interesting (and quite refreshing honestly).
Still waiting for the upgrades. In the meantime, I jumped into calls on the VXX. It's just dangling there like a diamond necklace.
They have this market so propped up for this awful bank earnings season, a perfect setup for significant and sudden downside risk. Once that clears then we have Euro banking crisis back at the forefront. Volatility a plenty short term.
I wouldn't mind grabbing something outside of AUY for gold trading with this sell off. Not sure I understand what's happening to gold this morning. I just really don't want to touch the GLD I feel like I'm being part of the problem. Might be time to dust off the ol' APMEX account this morning.
Assuming AUY delivers higher profit margins and possibly accelerated debt reduction (and don't rule out another acquisition over at Brio), with the general consensus for higher gold prices through 2016 the stage is set for upgrades.
I personally can't wait for GS to upgrade to a $4.
Then it will be time to start thinking about a sale or listing for Brio.
Imagine if the Fed could issue currency to purchase California bonds. Over time, knowing that fresh currency is always on tap, the Californian state government could be enticed to continue spending into debt, increasing public payrolls, bloating wasteful projects, on and on until the day comes there is no choice but to keep borrowing from the Fed. Then instead of the usual easy cash infusion, the Governor gets a phone call.
Turns out the Fed needs some help getting a draft amendment to the Constitution seriously considered by the Congress, unless more great states like California speak out In support. Now imagine the same thing is happening in most states at the same time. All waiting for the next payment of manifested currency to continue operations, while the vice is squeezed for an amendment or some such other revision to US Code for example.
ECB sovereign bond purchasing would play out in this fashion.
So they deposed the Greek and Italian governments, suckered them into terrible debt bailouts (which were not used to pay down any debt, just maintain status quo and in fact further the debt crisis) while economic growth continued to decline.
They were not allowed to bankrupt and restructure. Any that suggested were quickly removed from the seat of power.
How about that, here we are, the end of the road that the problem was kicked down. So what will be the bailout terms this go around? How much more power will ECB get from the deal? How many governments will be removed for pro-EU governments this time?
And still some can't understand gold's appeal.
The question was rhetorical. Buying in-the-money calls is a proxy for buying shares at a discount. Traders felt that even with only 5 trading days left on the contract they would prefer to buy today and hold into the weekend. This means a belief that AUY shares are $5.90+ before or going into Friday.
Reviewing open interest for next Friday expiry we have 3.3M shared called from $3.50 - $6.00. Looking at the puts, a very sad 3.1M shares are offered from $2.00 - $5.00. 700k shares alone are offered at $2. They will all go worthless in 5 trading days.
Thank you GS and JPM for your $2 SELLs on AUY.
Since I've been holding the July $5 call for a little while I've been watching. Today we had unusually high volume on this option at 784 contracts traded. Not any kind of record breaking day by a long shot, but most of these trades went at the asking price throughout the day. With only 1 week left on the expiry why would traders put almost 80000 shares on the table around the $5.80-$5.90 level going into the weekend?