I'm thinking of selling my 60k of STADF (kind of stagnent) and doubling my MEAOF position (more room to move in the short term), what do ya think cash?
There is one big difference among'st all miners...Contrary to Bernanke's big lie, GOLD / SILVER IS MONEY.
My God, you should change your name to Lookin_2_Schadenfreude. Give it up and come to terms with your losses, it ain't going to happen this time around.
Mike, put this idiot on ignore, it's not worth your time, he's been buying high, selling low and complaining with unfunny sarcasm since 2003, just read some of his older posts, he got his face ripped off several times I'm sure.
Gold and silver mining stocks have always been part of many investor's portfolios, priced substantially higher even with gold at sub $600oz. Now that most other sector stocks are so over priced, why shouldn't some cash start to flow back into mining stocks? Some of these are simply profitable corporations like any other, are they not? This is the one sector that is a steal right now, I just don't get the taboo currently surrounding mining stocks. Is it strictly rooted in the propaganda being spewed by the Fed and it's CB's?
Mike, thanks for your detailed response, there is definitely a great deal to digest in today's complicated and corrupt markets. You are correct about me being impatient for some gains, I was under water with Claude a long time and don't want to be there again. I'm currently all in at .36 with no desire for any more over that price since I also maintain positions in STADF and MEAOF. My gut feeling is the fed will raise rates due to the fact they are destroying the value of long dated paper by keeping them at zero, (a lot of rich elites hold this paper along with insurance companies and pension funds). I think they have allowed the market to fall to current levels to mitigate a larger drop when they do hike so, a raise in rates is already "priced in" to some extent.
So Mike, it is your contention that shorts and hedge funds are pounding it down to buy on the cheap before it has reason to rise? Would you agree that if they raise rates, that will cause a market decline resulting in a move into PM's, and if they keep rates the same, gold should reset back to more reasonable levels (win, win)? You don't think the slamming is something more nefarious, such as the CB's being directed to slam the price, simply to bolster confidence in the dollar, hence this practice may continue? I would hope the reasons would follow the former explanations but, at this point I am extremely cynical.
Will, looks like I might have been in error about their long term debt, I googled it and I'm tending to be in agreement with you.
2014 year end financial release.
No they are definitely not debt free, their total debt is probably still in the neighborhood of 55 million, that is what is keeping their stock price pinned, along with poor management of coarse. However they did also mention in this release a management change, with is always welcome.
Ding, Ding, Ding, what have we got for lighthouse today.
Gold is through the roof, and we can't even hang onto .52, these markets are so distorted. They seemed to have destroyed any conviction to stay long on any miners anymore with all their up and down games and manipulation.