Short term gain, but correction rumblings are on the horizon. Last massive correction saw the gold mining stocks follow the market in the dive. I'll have to capitulate shortly and sell my exposure for a more protective position. Less we recall, mid term elections are coming. That alone could trigger a moderate rethink. GLTA.
Although it was a little tempting to pick up a few shares b elow $79, there is still too much talk of more pull back. I'll wait and watch. $75 possible for entry???? GLTA.
Price of Gold moving sideways with miners making a slight recovery. Will it continue? Or will it tank with the perceived correction looming on the horizon?
Shaking out weak hands. Drop yesterday was from a possible cease fire, which did not occur. Stock up today with resumption of hostilities would be my guess. But, what do I know. 20,000 shares riding on Gold's return, which could be stymied from a rise in interest rates. Keep your finger on the button and your ear to the ground. GLTA.
I'm still kicking myself for not selling back in March. Even though I have a gut feeling we may see new highs in this fund in the coming weeks, let this fund get back to March levels and it's a gone pecone. GLTA.
Myself. Haven't figured this out yet. Waiting on $69-70 to get back in. I can only explain this increase in SP to the sale of marginal assets. Any other explanations out there?
Less overhead and less bureaucratic processes?
My point was to share a recent shift in philosophy encouraging Engineering Models to run and design worst case, which adds much more cost on design and restrictions to Operating. This will change the threshold and take what may have been a profitable project and render it unprofitable. JMH Observation.
???????? Old news?????????
Deutsche Bank Upgrades Barrick Gold to “Buy” (ABX)
By Shauna O'Brien|October 2nd, 2013
I can't understand what is driving the stock price up other than revenue generated from the sale of assets. I believe this will be temporary.
The divestment and failure of these assets to be profitable is a systemic issue within the industry and reflective of a recent philosophy shift of "0" risk tolerance running worst case scenarios. This is adding tremendous costs to projects rendering them unprofitable. As mentioned however, the purchasers of those divested assets are managing to make them profitable. I'm not sure what risk matrix those companies are using, but I am hearing that the trend is also slowly changing for some of them. Not all companies have had the paradigm shift. Some companies find the cost of another BP type incident is too great a risk to take ( and rightly so) overshadowing all future projects. This has added tremendous Engineering and Regulatory costs to new and existing projects and operations.
The additional blade in the fan providing head winds to the Industry is the Global Warming Issue; renamed Extreme Weather Impacts from greenhouse gases. This is prompting a nudge to move from hydrocarbons to electric, solar, and wind. This won't happen as long as the hydrocarbon industry is cheap. In order to convince the masses to change, the economical cost to consumers will have to be comparable.
The change is inevitable. So, as stated in the media. Want to keep your V-8 SUV? Get ready to pay for it.
Sitting on the sidelines sipping on a brew. Good luck to all.
The point I wanted to make was the issues began when the term "thinking out of the box" became the term of the day. All of the tried and true principles and learning's were thrown out with the wash water, the old school, and a new day began.
The change that occurred after 1985 progressing and maturing in the early 90's was a new way of thinking in Operations; a new philosophy. Can anyone recall? If not, you're still IN THE BOX.!.
Have we hit bottom? Another short term rally on the way?
Just like a casino. It giveth, then taketh away a bit at a time to keep you from pulling out completely. By the time you're had enough, it's too late. If you haven't pulled out by now, is it best to ride it out and wait a year for it to return?
What is driving this? Geo-political stuff being ignored? I can't understand why price is dropping except that everything ran its profit threshold. This won't happen to me again. Back even with current price. I'll be watching very closely. Thoughts, insights, shared learnings, no criticism please. I feel bad enough as it is. GL.
I was not surprised by the recent profit taking. Biotech has been on a tear lately. Profit taking was a foregone conclusion.
Some brokers are suggesting, however, that the Biotech industry is on the cusp of a breakthrough that will be a medical game changer, and recommending some investment in this sector. If this is true, I believe the sector will return. The breakthrough was said to be DNA programming in nature. No info on which company is on to this. Anyone else got this info?