Looks to me very much like we are heading higher over the next few weeks. I will put a stop in around $4.00 just in case it goes down again for some random reason, so happy I bought a lot more for 2.90 the other week before going on holiday and those shares are not coming back into the market. Holding long and strong.
What is the earnings date release for PAL? Not following too closely but I have an idea of what to do.
I think you assumed that the low of 2009 would offer support. I thought that too but when it was around 0.90 I didnt have a good feeling looking at the chart and the indicators so I didnt buy, my last buy was at 1.04.
JAG has no chance to make it until the debt is cleared which probably will be done by increasing the share count 50-100x. When I had to reject my thesis of gold continuing to rise I had to sell JAG and take a boot in the teeth. But there are some really good companies in the gold mining space with very low trading volumes so I dont think you are interested.
I have never heard of EGY, must be a good one then. Do you remember END, the oil company I told you about around 2.70 or so? It had a nice run lol. What is your thinking on HNR, I heard a guy pumping it on a radio show a while back around $5-6 talking about a $5-7 dividend they want to pay from selling some assets. Checked on the message board and saw you "bashing" it, lol, kind of trusted you more than that guy.
I sold half of PVG at 9.38 and the rest at 7.57 when I saw that gold was gonna tank again. Bought back some at 4.95 (200 shares), waiting for $1-2 now, probably next year it will go that low. IAG, dont know what to make of it, it is an interesting play because of the Niobium mine, that is really there only chance to survive, their gold mines are no good.
PAL has been a total fail so far for me too so far, still in with higher average than you I am sure (but not too worried, going to be looking to add in December if it stays low) but my DUST shares are doing great, lots of crappy gold miners like CDE and GORO still out there that can make bearish gold ETFs do well short term. Did you see the news for JAG, I am so glad I exited when I saw the painting on the wall....
I must admit, my trading results have let me down since I started working, dont have time to monitor things as much so my performance has not been so great. I have on balance not lost money though despite PAL letting me down and getting into PVG too hastily, I had a terrible last 2 months with the USD tanking against the EUR, was up %wise but down when converted back to EUR haha :D
Anyway the plan is to get some decent capital and continue to train my trading and stock picking skills. Send me a private message anytime you want to discuss trading strategies, but wont be able to answer during the working hours... There are some great companies out there to invest in.
At the Denver conference Quartermain mentioned that 30% of shareholders were retail investors, it was quite obvious from there that this stock was going to be plowed :p They will pound it til the little guy gives up and run it back up or run it into the ground if the little guys dont give up and just bring out a new company that miraculously finds that things are better than they seem now lol.
I just shared a little with others who want to join late to make sure it keeps going, there is nothing that keeps a rally going as well as letting new people in to push the price higher ;)
Look at it go, Have sold a little at 17.5 and 18.75 and now just hoping to sell some more at 20 but keeping at least 80% of my shares to at least $60, the shorts are sweating to cover their back side but almost no one is selling hahahaha.
Thanks for the kind reply. KDX is the best junior near term producer out there in my opinion, at least in the gold space. I believe it has a max upside of $2.00 at the most this year at current standing and an outside chance of touching 2.50 if they report some exploration success that changes the size and scope of the project.
In my opinion, KDX will be a $1-2 stock over the next 9 months, mainly due to the fact that gold is going to continue falling. So there is nothing wrong with the company and management, it is just that it is in the wrong sector but in a bear market like this, any stock that can hold its value or add to it is exceptional.
I dont understand what you mean with "GSV run from.58 to 98 cent" I know AUNFF a little but I think it is not a good stock and the price hasnt touched .98 in the past 3 weeks. Please explain.
Do you see a turn around coming once the company is handed over to the new owners? Once the debt is cleared the company could look viable, they have done a lot of progress in terms of operational efficiency and bringing down costs in the last 12 months or so. It is quite apparent that the debt load is the reason this company had no chance of surviving without gold going up further.
Anyway, I am glad I got out when I was down 25% and concluded that my thesis on the gold price going up was wrong.
Ps. The stock always seemed to rally the day preceding good news being released. Maybe some smart investors and traders had great analysis or the company was leaking info out to special interests... I came to conclude it was most likely the latter.
Lol 47k shares is little in comparison to what the guys from the financing still want to sell into the rally. Good luck finding someone to sell to if you need to get out, the volume is poor and the spread wide at least I made a nice profit for the time I held it and maybe you should take the tin foil hat off and realize that I didnt post about selling out after a hard pull back but after a large rally from where I bought. Shorts try to cover on pull backs when it is clearly oversold and undervalued not when it is trading at a premium or fair value following a rally.
Sorry for the late reply. I agree with your assessment. You point out good things but you do not mention the less good things that are driving the value of TNP down. I also think that TNP will make out well over the next 3-5 years.
But for now there are still uncertainties as to whether TNP can return to profitability especially with the preferred shares that do add cash but the 8% drain associated is going to be cutting into their profits so in my opinion it is still a short for now. I do not believe it is a short to 0, it is all about valuing the stock correctly.
Regarding product tankers, DRYS was doing well when you posted but it has retraced quite some since then.
My opinion is that TNP does not return to profitability due to the preferred shares and sells off based on investors expectations not being met that were formed during the last conference call.
To sum up on the preferred shares, it helps liquidity in the short term buying more time for rates to recover but the interest and fees associated with them are bad short term and we live in the moment so that is what I base my short decision on. I dont see it hitting $6 for 3-6 months so hopefully you keep adding since you seem to be playing for the long term.
That spike in gold today was rather surprising, I think with all this QE and the unemployment data being as bad as it was the junior gold explorers might be the segment of the stock market that have the most upside to them, especially since the upside to the warrants is about 0.09 and that Hellix has got a good project in the Athabasca it can focus all its attention on since dropping Margarita. I think the bottom is in for Hellix. I have seen many other decent juniors with warrants out far below their current share prices, that is not investable material in my view.
Good luck all longs.
Paul spoke at the Denver conference, he didnt sound very enthusiastic to say the least. I understood they would have no trouble repaying their $4m loan so why the equity issuance and the cheap warrants?
The project and business plan look very good on the surface. According to my analysis last week Klondex was selling at around a 20-30% discount to NPV of the project. I expect the price action to suggest that it will keep selling at a discount especially with the equity issuance that has reduced the upside and my old estimated NPV/share.
So hopefully when they release the PEA soon that will cause a rally to sell into and unfortunately I believe the guys with the new shares will also be selling at any opportunity to reduce their exposure, that is just how it works. For me it is a buy between 0.90-1.20 and a sell between 1.50-1.70 in the near term as I expect that gold will have a relief rally once the shutdown noise is over.