by the way, I sold covered calls today (at high vol and premium) --I expect the vol and prem to drop in the AM and my initial concern is AEM would run up in the AM making me buy back my calls at higher price.
Should be interesting -only real disappointment is the dividend and that is not important persoanally to me. Rather they take the money (20 mil) and capex it. as price go up we will want more output.
I would think most investors in this space understand that a lower gold price affects income cash flow and distributions. And thats why the sector has rallied the past few weeks breaking above 20/50/100 and 200DMA. More important tied to that is that gold prices seem to have broken out. Clive Maund came out saying gold has broken out into a new major bull market and silver will soon follow.
Interesting nobody talking about that. With all in costs around 1000-if gold prices go up 200 most of that 200 goes to bottom line. And looks like production goes up a tad in 2014.
the driver is still gold prices and they have bottomed.
well, the problem with the covered call strategy is that when the underlying declines all you really do is offset the loss. In addition both energy and PM have sold off recently. Finally, when the value goes down the roi on a covered call falls as unless implied vol increases you get fewer dollars.
They just took this all into account going forward. Now shareholders need to see a reversal in oil and metals and in 3 or 6 months things get better--there will be a lag to the extent that the fund has to see all current options expire before rolling into new higher ones. Provided oil and gold stocks go up
if you have been to China recently especially Bejing, Shanghai and Hong Kong (but also the smaller cities with only 10-12 million population) you have more phone stores there than we have starbucks, CVS and WAg and Dunkin Donuts combined. In addition you have the street markets there where you can buy unlocked phones some of them real but hot, for incredible prices.
one of apples problems is that it not has to compete--and compete on price. When the ipod came out it was really a change-when iphone and ipad came out the same--new iterations are not game changing anymore.
actually its true of our whole economy. almost everything selling at too high a PE on the hope that growth returns to 15%-PE's will come down rapidly as interest rates go up and as the realization sets in that we will be lucky if there is 2-3% growth.
the upcoming question for everybody is just where do you invest your money? Fixed income and equities are significantly overvalued.
He should know, as Senator he will be at fault for running up the deficits
still screwed up.
Apparently one of the problems from last week is comcast has blocked e mail from a number of locations such as gmail ( and from magic jack , a competitor of comcast) and from at least one other I know of (i get routine mailings from this other site). I have no idea who who else might be blocked. Its damn near impossible to call a comcast rep.
Very disappointing when the service fails and more disappointing when you cannot call in to find out or question what is happening.
Throw in the escalating prices and one can get rather tired of comcast.
I have 4 magic jack units and for the most part they do what I wanted them to do:
one current problem: when someone leaves a message it does not get forwarded to my e mail.
the live chat is the only apparent way to contact the company. Sure wish there was another way.
I am hoping someone from company reads these -and cares.
blame this morning and this afternoon on the long short hedge funds-
silver heads up--buy silver and sell SLW-later when silver heads down sell silver and buy SLW
wash rinse and repeat.
it is a game to many
use OPM to generate profit in a fund so you can get a hefty bonus.
There should be a bounce in spoos by Wednesday otherwise the equities go much lower. State pension go further in the hole by further missing assumptions
Credit rating of anything usd based goes down.
The laundry list is long, but saying cash is king is not the new reality unless that is gold or silver.
R u here in usa
No default this month. But unless demand abates it is coming to an exchange near you.
This is something we really do not want to happen. We want short squeezes, higher prices, panic buying, but not a default of the magnitude and permanence we probably will see.
Think about this:
In1995 the us treasury borrowed the 3.5 trillion left in the social security fund,
I ask, why was that necessary if the clinton adm was running a surplus?
They are all the same. Don't fall for the story that one is better, or worse than the other.
Btw, the borrowing of the social sec trust fund is what got me into pm in 1996.
Svm doing ok too.
This whole sector is not for wimps, a mother load of volatility. You have to know when to take a little off table and when to buy back. You have to read external indicators etc.
Once you do there is gold in them thar hills. LOL.
If all else fails one could do their own dd and just go to CME website, although I believe the watchtower site included a link.
I have been getting Shadow Stats for several years.
Funny how when house prices were going up it was not inflationary but when they go down it is deflationary.
The states and muni problems merely compound the federal problem. Public Pensions were fraudulently obtained--not by the union employees who with taxpayers are the victims, but by the union leaders and govt officials who worked together to kick the can down the road while they received the perks of this positions-they knew darn well or should have known that 9.5% long term assumption rates were absurd.
So what are these folks--either very stupid, or corrupt? Thats is bigger than the Madoff problem who promised 12% returns (if it is too good to be true it probably is) but took "only" 50 billion.
lol--so how much info coming out of DC can you rely on?
I'll come here periodically--I have a motherload of SLW via options and option spreads. So I have to focus on the data screens rather than talk boards.
My rule--I love a stock as long as the stock loves me.
I have stopped trying to tell friends and family abt Pm and miners--they are in lala land. The do not understand FRN. I have been in PM since 2004--a tad after the leaders got in but certainly not late to the party. I know we discussed this 3-5 years ago on another board when I sold that crap and went to this "dark side".
Other sectors interesting too.
you need to understand that the hedgies and black box momo trading render us small guys to be coattail riders.
student body left, student body right
you do your own homework and make your decisions--once I stopped listening to wall street my performance went bananas.
on AA it was a matter of after the press release no more news coming and no reason to stay in a stock if it is not going to move near term.
except for folks like you and me who will sell, for ex, cash covered puts on something like AA now.
Got to use the tools available.,