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Mark Bern, CFA
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Mark Bern (formerly K202) intends to continue writing solo and has shed other work-related relationships that required anonymity. CPA since 1990 a CFA charter holder since 2000. He has a bachelors degree in Business Admin. with a concentration in Economics. His experience includes both private... More
  • OG's Quick Chat # 116 - 11/7/2010 193 comments
    Nov 7, 2010 1:47 PM
    7OG has asked me to take over responsibility for the Quick Chats so that she can sort out some personal things.  OG will be back with us soon after her hiatus.. At that time she will resume posting QC Instablogs.  Until then, I will be your host.  Please be respectful and enjoy the liberty of this space.

    List of stocks mentioned in QC # 115:

    (NYSEARCA:AGQ), (NYSE:ALEX), (ATPG), (NASDAQ:CPST), (DXY), (OTC:FEED), (OTC:FRMSF), (NYSEARCA:GDXJ), (OTC:GPRLF), (NASDAQ:IMGN), (LPH), (NASDAQ:NVAX), (NYSEMKT:PAL), (NYSEMKT:PLG), (NYSEARCA:PSLV), (NYSEARCA:SLV), (NYSE:SVM), (NYSEARCA:TLT), (NYSE:TNK), (NYSE:TOO), (NASDAQ:VIVO), (VIX), (XIDE)
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Comments (193)
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  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » The last comment on QC # 115 was made by H T Love:

     

    For those of us breathlessly awaiting the results indicating success of Mr. Brenanke's QE and QE2 plans for revitalization of our economy, possibly indicated by achieving his target inflation rate of ~2%/annum, I am happy to report that Donald Ingram has posted the results which show that Mr. Bernanke has not only achieved his goals, but succeeded beyond all expectations!

     

    It's a short read, and I suggest everyone follow the link!
    seekingalpha.com/autho...

     

    My congratulations to the Fed chairman in his resounding success!

     

    The middle class would certainly applaud him, if we had a middle class any more, and the poorer of us will certainly thank him for the jobs and menial-wage incomes that will certainly follow shortly, if we don't first starve to death and if we don't need to drive to our place of employment (but with a fast-food restaurant on almost every corner, this should not be a problem).

     

    HardToLove
    7 Nov 2010, 04:27 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Yep, yep ,yep and them numbers are going to get a lot worse from here on out.
    7 Nov 2010, 04:34 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Here is a Ron Paul post that might be of some interest to some.

     

    www.youtube.com/watch?...
    7 Nov 2010, 04:29 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    Does anyone actually see the market having any type of correction soon??? I mean everyone had qe2 ALREADY placed in the market. Just when does this actually get nasty, talking heads on TV think it is soon. What do the renegades think?? 6 months or sooner???

     

    ACE
    7 Nov 2010, 04:42 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I've heard that bubbles inflate very slowly and collapse very quickly. Since I view this as a bubble in many ways, I think it will take some time. I certainly could not guess how quickly this will all play out.

     

    However, the response to foreign countries to our profligate ways may halt the bubble growth before it has time to fully form. I think we have to just wait and see on that front.

     

    Further, we have a new congress that should tend to be more "conservative" (whatever that might mean today) coming in January. That may have a big influence on how this progresses. Again, we'll have to wait and see, IMO.

     

    A quick review of some of the comments in the prior QC might give you a basis for forming an opinion.

     

    In all honesty, I think all this is like turning a modern aircraft carrier - it takes a *looooonnnnggg* time due to size, mass and inertia. So patience may be required to form an estimate, based on how the "play" unfolds.

     

    G20 coming up again, IMF has reconstituted its voting structure to replace several developed voters with emerging voters, countries starting already to apply "currency controls" to restrict inflationary inflows, and *talking* about doing it, ...

     

    MHO
    HardToLove
    7 Nov 2010, 04:57 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Acehart, read this to get an idea of what we might expect.

     

    en.wikipedia.org/wiki/...

     

    The timing of the events are not something that anyone can predict. It could be happening right now. Nov 4th inflation prices were incredible in just one day or it could take a longer period of time with high levels of inflation. We also have the right and left getting really involved in politics in this country now too. History repeating?

     

    Spending has to get undercontrol or else. See the chart in this blog.

     

    seekingalpha.com/insta...

     

    Buy some silver coins or bars for home storage to have hard assets on hand. Compare prices to those at MONEX but buy where ever you want. I would stay away from the PSLV for the same reasons as SLV. If your in the silver for the money, not the insurance, consider miners SIL, or paper silver like AGQ that is a double ETF but there are many options . Follow along on the blogs here and you will get a great education from the renegades. Remember one thing keep some physical on hand as insurance from God knows what. Some gold coin for insurance is better because you can carry a lot of value in a small package and hit the road. Blog below talks about silver coin.

     

    seekingalpha.com/insta...

     

    The cost increases that Mark mentioned in the first comment here are getting very serious. I put some humor to it in this blog but that is a very serious threat to us and there are many articles starting to cover it.

     

    seekingalpha.com/user/...
    7 Nov 2010, 05:37 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    i do have hard silver now should i worry about having it in a safety deposit box in the bank or am i better off buying a home safe. I am in silver for both reasons. Why not try to make money while i accumulate it. Appreciate the reading material..

     

    ACE
    7 Nov 2010, 05:54 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    Double

     

    Appx. how much dollar wise do you suggest having on hand. As of now i own 100 oz bars, 10 oz bars, 5 oz bars, and 1 oz rounds....
    I am guessing you are suggesting owning smaller quantity . Just curious about the safe and the amount ...on hand...

     

    ACE
    7 Nov 2010, 06:03 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    You have to be able to carry it. Having 300 lbs of silver on hand is not practical. Gold is more practical for larger values but some silver to make change as you go is important. Get out of dodge silver comes to mind.

     

    That would be your insurance metals. Next it is an investment to keep your dollar (falling like crazy) from killing you. It falls and your metals investment goes up to offset the loss of purchasing power of your dollar. I like silver for this. That can be in individual stocks, miner etf, large bars held in vault for you like MONEX. Have them shipped to you if suddenly there is a "problem" in the market.

     

    The big problem is the govt can come and take anything from you if they want. Including your 401K, gold/silver on account etc......That is why you have insurance in physical metals in possesion at all times.

     

    Yes I know that I sound "crazy" but you are responsible for you and your family so you have to decide what protections you want for your family.

     

    The govt can not protect you (think Katrina and imagine many thousands of times more people in sudden need) so the government must be considered a "wild card" in the situation that we are presently in and if it gets worse they will do WHATEVER they deem necessary to ensure the survival of the "SYSTEM" that has evolved. I feel we are presently safe but getting less safe with each "event" that continues to send us down the road to financail disaster.
    7 Nov 2010, 06:43 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    "IF" there is a bank holiday your safty deposit box could be confiscated. Its good to have for vacations etc.... but I would not keep all my eggs in that basket.

     

    Don't keep all in the home safe either. What happens if you get an intruder that makes you open the safe.

     

    These are layers of protection that I think if nothing goes wrong do not hurt you but if things go really bad they can protect you. I do not expect things to get this bad but I prepare for the worst possible situation and go from there.

     

    Having some way to protect what is yours (firearms/big dogs/tazer/escape plan etc...) must be part of the plan.
    7 Nov 2010, 08:30 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Copied from previous QC:

     

    "Economic Recovery? Food Stamp Program Tells Another Tale"

     

    I'm speechless!

     

    seekingalpha.com/artic...

     

    HardToLove
    7 Nov 2010, 04:45 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    HTL

     

    Just read the article you suggested and with inflation so high when does it filter down to the markets??? Will oil be effected by this as well??

     

    ACE
    7 Nov 2010, 04:46 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » Ace - I don't think any of us knows with any certainty when a major correction will come. That sort of thing is very difficult to predict. I thought we would see one in late summer early fall. We got one, but it was shallower than I had anticipated. I now have a sense that the market will continue higher, with intermittent corrections of 5-10% every few months, just as occurs in a "normal" bull market. However, IMHO, there is nothing really normal about this market. Yes. It's a bull, but can it take out the all-time highs? I doubt that very much, but I could be wrong. As long as earnings continue to grow at the multi-nationals that use all their cheap borrowings to finance investments in foreign plant and equipment in developing nations, the market will have a justification for going higher; even as those new factories on foreign soil, operating at lower costs than the remaining factories in the U.S., end up absorbing more jobs from America.

     

    If the US dollar continues to slide it will make U.S. products less costly overseas, but just how far will that take us when our manufacturing base accounts for less than 20% of the economy?
    Well, it will take a while for the talking heads to see it coming (most likely they will report it after it is here). If they say it is here already, they are probably wrong. After all, they didn't see the banking crisis or the housing crisis. Inflation is already upon us, but they haven't reported that. Since we import most of what we buy, when the US$ drops in value relative to foreign currencies everything costs more here. But our government has figured out how to calculate inflation in a way that doesn't really count most of what is being inflated. They do not feel our pain. They even tell us that we are only imagining the pain because inflation doesn't exist.

     

    Well, it will all come to a head at some point near or far in the future. I suspect it will be sometime this year or next, but I really can't get any more accurate than that at this point. But I do believe that there will be tell tail signs, that some of our little Renegade network will notice those signs and report them. Until then, I will continue to invest in the bull cautiously, picking up nickels in front of the steam roller (DM made that up and I just love the visual it imparts). Just stay tuned and report what you see, as the rest of us try to do, and we'll be way better off than the lemmings.
    7 Nov 2010, 05:08 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    "... was the potential for an extreme market reaction associated with the Fed's exit from potential purchases"

     

    This perfectly reflects what I expect when QExx ends and the Fed must start "running a tight ship".

     

    Noted in this article "Ultimate Measure of QE Success? Look to the Long Bond, Not the S&P 500" here

     

    seekingalpha.com/artic...

     

    HardToLove
    7 Nov 2010, 05:11 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Diane L. Chu: "Swimming in Crude Oil? Record High Inventory Will Continue to Build"

     

    Says at least a couple of quarters before anything can improve. Bad for tankers too and as futures contract must be rolled over shortly, we will see a small price drop from current elevated levels.

     

    seekingalpha.com/artic...

     

    HardToLove
    7 Nov 2010, 05:38 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    HTL the inventory has been increasing for some time but the price continues up. I commented earlier on a blog about this and questioned why the price is not tanking with the huge increase in inventory. The answer is the dollar is tanking faster than the inventory is increasing IMHO.

     

    It is the drop in the dollar value that is causing the price spike I believe and if the dollar contiues to drop the price can continue up inversely. As the dollar approachs zero value the inventory can go through the roof and price will still go up.

     

    Found the article..

     

    seekingalpha.com/artic...
    7 Nov 2010, 06:07 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I agree dollar down, oil up. Diane just points out that there's a *lot* of long contracts that will have to be rolled causing a short and temporary drop in the price. As a glut continues there will be a battle between excess supply, due to reduced demand, and an eroding dollar.

     

    I believe the oil price can not drop very much for two reasons. The dropping dollar provides support for all dollar-priced commodities and many are probably using oil as a hedge against that dollar. Hence the futures contracts will have a lot of the financial players in there and that will support oil too.

     

    As periodic contract expirations and roll forward occurs, there will/may be small and temporary pullbacks.

     

    But without real demand, I think the degree in rise of oil may be limited to just what is appropriate for the level of dollar debasement that occurs.

     

    If and when demand comes back, then oil will skyrocket as it will have both factors, dollar debasement and demand, supplying upward pressure.

     

    But as you can guess from the articles I've found, I tend to think that real demand return is a long way out.

     

    This is supported somewhat by this line from the article you linked.

     

    "Gasoline inventories, on the other hand were down 4.387million barrels versus expectations for a build of 625 thousand barrels."

     

    What this tells me is that refineries are running at lowered capacity, probably in expectations of continued weak demand, and that is reducing the consumption of crude.

     

    With unemployment where it is, I expect the longer trend continues in this fashion, with periodic refinery increases as gasoline stockpiles get sufficiently depleted and a pricing opportunity for the refineries appears. Then we'll see large, temporary crude drawdowns for a bit, everyone will get all excited, ... well you know how it will go. Anyway, then refineries will be partially idled again as the gasoline and distillates inventories build and price drops. naturally, crude stockpiles will go up, everyone will get all excited ... again

     

    Rinse, repeat.

     

    But with both industrial and consumer consumption on a long-term flat or maybe down path, most oil price change up should be predominately dollar-induced.

     

    MHO,
    HardToLove
    8 Nov 2010, 04:35 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Hi, Guys
    Did you see this one?
    www.ft.com/cms/s/0/eda...
    7 Nov 2010, 06:07 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Gold standard!! I vote for that. That would mean gold would have to be revalued at about 6-7K per oz.

     

    Wonder if they can contain that price increase to JUST gold and silver.
    7 Nov 2010, 06:26 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Any one see this. YH would love it I am sure.

     

    www.americanthinker.co...
    7 Nov 2010, 07:10 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    Priceless. Another example of what passes for debate these days. If you can't argue your point with facts and reason, quit debating people that disagree with you. And under no circumstances allow yourself to be exposed as someone that can't debate his/her point of view. Go hang out in your favorite echo chamber. It's much easier on the ego.

     

    Couldn't have happened to a nicer moron.
    7 Nov 2010, 07:55 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Bully as long as you can then....run! YH once said he would like to smoke him with all kinds of herbs and spices. I would love to see it but I think he would still taste bad. Krugman is a pig but he wouldn't taste as good as one.
    7 Nov 2010, 08:47 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Mark, Sent us to Donald Ingrams comment earlier but I keep looking at those numbers and I am shocked. I felt they have to be posted here so no one misses them or the article.

     

    seekingalpha.com/autho...

     

    Donald Ingram wrote:

     

    Some recent FACTS on inflation. "The Real Cost of Living."
    These are year over year price changes for;

     

    Wheat - up 74%
    Corn - up 14%
    Oats - up 68%
    Canola - up 36%
    Heating Oil - up 29%
    Gasoline - up 25%
    Natural Gas - up 15%
    Beef - up 18%
    Pork - up 60%
    Coffee - up 27%
    Sugar - up 44%
    Cotton - up 66%
    Copper - up 37%
    Gold - up 31%
    Silver - up 36%

     

    From the above stats, I would say inflation is here with a vengeance! Wouldn't you? This is pure currency induced cost push inflation. Now with QE II a fact, this effect will get worse. Of course the government doesn't count food or energy in the CPI - now, isn't that convenient! Lots of people will be going cold and hungry this Winter. Thanks Benny!
    7 Nov 2010, 09:00 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Guns: Great stats, and...exactly how many of those inflationary stats does CPI include? Complete "misinformation" joke, CPI is.
    8 Nov 2010, 12:15 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    silver broke through $27 and has settled back on asian markets. Presently at $26.84.

     

    Those long sexy legs keep marching. The drums keep pounding!!!

     

    www.youtube.com/watch?...
    7 Nov 2010, 09:21 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    Silver just rocketed up to $27.39. Where's a little dip when you need one??
    8 Nov 2010, 12:05 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Gold went to $1399.70.
    8 Nov 2010, 12:10 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Time for me to call it a night. I shall leave you all with a little ditty to go with the beer.

     

    www.youtube.com/watch?...
    7 Nov 2010, 09:30 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Ace: Apologies for not answering your questions in this Chat as well in the last, in a timely manner. Was busy this weekend, entertaining, and preparing for another one of my lenghty trips to Central America.

     

    In regards to silver...all PM storage, I would advise storing such sums in a lock box, in more than one bank, and, if possible in more than one state. This is important...learn if your state has the authority to "lock down" your lock box, upon demise. No fun thinking of this, but...it simply has to be a known factor with your possesions.

     

    A minerals site you may want to take a gander is miningnerds.com

     

    Right now, the fastest rising silver producer I track (above the pennies) is Silver Corp (SVM).

     

    I'm going to have to pass on Silver Wheaton right now. It's come a long, long way, and could and should continue to rise. I'm just not quite so sure of their upside from here, when compared to other silver miners, given that they *largely* depend upon hedged contracts, ie., monies given to silver miners for a hedged price, which, if silver continues to rise, should dry up.
    8 Nov 2010, 12:07 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Maya: SLW's contracts go out in many cases for "life of the mine", so the time scale involved is roughly a decade. As prices of silver and gold have waxed and waned, SLW's contracts have kept pace. Their business WILL dry up whenever junior miners stop being created and whenever they no longer need venture capital. Not before. Simple price action just means that their negotiated contracts have different values (and contingencies) plugged into the blanks.

     

    There was considerable talk when the Silver ETFs got popular that they would put an end to pm companies like SLW and the various gold-emphasis versions, but that did not happen.

     

    SLW's leadership in this area COULD be affected by direct competition from other companies with the same business model, but that is of course the capitalist way. I am frankly surprised that some of the gold factors that have talked about going head to head with SLW have not really done much, whereas SLW now gets about as much of their income from "equivalent ounces" paid in gold vs silver. Eventually the competition will ramp up to speed, but they haven't done it yet, and SLW's lead is pretty large at this point.

     

    The REAL threat to the entire venture capital system is, as usual, the great power which lies outside the capitalist system: government. Should the fascist/socialist Federal government (or enough of the Central/South American governments, plus So. Afrika and Australia) decide to start financing risky endeavors like mines directly, they would certainly displace all competition (assuming they didn't just pass laws outlawing competition, which is of course the preferred method).
    8 Nov 2010, 09:17 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    as far as we can tell this puppy still has legs.

     

    buying CAVO today.

     

    The Vietnam ETF, VNM, looks to be breaking to the upside.

     

    with sugar where it is, will be tripling up on NXTH
    8 Nov 2010, 03:09 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I have said it before, here and elsewhere, but I consider the Viet ETF the best emerging market ETF, period. I hold it in my wife's IRA, and it has done great. I'm not a fan of ETF's wherever I can discern individual stock picks, but these emerging markets are a clear exception to the rule.
    8 Nov 2010, 09:21 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (CPST): Several items.

     

    Reporting and cc tomorrow 13:45 PST, 16:45 EST.

     

    Ipdrive @ Investor Village posted "Wrightspeed raises $5M for Capstone based powertrain", which uses CPST. He provides several links there. A summary is that "... technology will displace at least 3,000 gallons of fuel per year per high-usage vehicle,” said founder and CEO, Ian Wright" and the funding is from a private investor and his system is initially for class 4-6 trucks. He has a "Digital Drive System" (DDS) that manages all the stuff.

     

    www.investorvillage.co...

     

    I had previously watched some videos of his sports car that uses the DDS system. I can't recall posting them here, so here's a few links.

     

    Company site: www.wrightspeed.com/
    Some cool videos (vs. Ferrari and Lamborghini and Nascar) and some other videos:

     

    www.google.com/search?...

     

    This last is an uncertain one. Based on Dallas Fed President Richard Fisher's Comments in a recent speech, problems in AR/AP (aka DSO) for most in the supply chains here have dissipated. If this applies to CPST as well, they *may* have a CFP (Cash Flow Positive) in their report tomorrow. If so, a nice bump should result for pps. Shorts still extremely long, as of lst report, at 11.3% of float. So there's some possibility there too if a positive report is received.

     

    To wrap it all up, we now have competing HEV drive configurations for trucks using CPST and two different electric motor vendors (Parker-Hannefin and UMG), two different electronic control systems, multiple classes of trucks being targeted, a demo class 8 already operational, passenger vehicles in play in various early stages, ... and more.

     

    I'm again optimistic on pps, but now both short and longer term.

     

    Oh! And GE is now a supplier to CPST since they bought out certain assets and obligations of Calnetix, which CPST had already bought part of and had secured supply obligations from Calnetix for three years and the IP rights for certain things and *exclusive* distribution rights for smaller applications.

     

    And there's been some hiring going on too.

     

    Disclosure: llllooooonnnnngggg CPST

     

    HardToLove
    8 Nov 2010, 05:40 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Me too, HTL, (CPST) is about my only long term tech play at the moment, though I will be adding new stocks in the coming weeks.

     

    I still don't have a grip on what sort of legs QE2 will have, and I don't think the markets are finished "digesting" the whole picture just yet, either. Clearly, barring geopolitical event (iran/israel - china bubble explosion - ID4 scale terrorist event, etc) we have forestalled the double dip, but for how long? I feel the next 6 months are now secured (but at what a price!!), so Q1 should still be under the QE influence, but the later part of Q2?

     

    Don't know, and until we actually HAVE experience in the markets with the new QE methods, hard to judge.
    8 Nov 2010, 09:27 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (NAT): Divs $0.25, I missed by $0.05.

     

    www.marketwire.com/pre...

     

    QoQ loss improved from $0.28 to $0.12.

     

    Now, will my synthetic short pay off as I expected or not? Two weeks to find out!

     

    HardToLove
    8 Nov 2010, 06:38 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (NAT): I think that's YoY loss improved ...

     

    HardToLove
    8 Nov 2010, 06:59 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Ron Paul 2B on CNBC 08:30 today.

     

    HardToLove
    8 Nov 2010, 07:56 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    This should be interesting. Thanks for the heads up HTL.
    8 Nov 2010, 08:18 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Ron Paul sounded like he supported "Fairtax" right there at the end his speech.
    8 Nov 2010, 08:46 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    It's the first time I've heard someone of some influence mention my fav, "Eliminate the Income Tax". That may mean he supports the Fair Tax, but for me it is more important that he recognizes the basic evil of letting the government reach unhampered as deeply into our pockets as they want.

     

    If that's right, it *may* mean that he's open to ways in which the income stream will *not* be defined at the federal level to meet federal desires. Some way to determine the level that leaves the decision-making outside of federal purview would be ideal.

     

    I won't iterate the one suggestion I've made about that here - it's not an easy thing. Any time you try to cut your children's allowance, resistance will be seen. And if you had let them set it themselves by their own edict, it's even worse to bring about a change.

     

    Based on behavior, I feel "comfy" viewing our government as I might view "children". So many behavioral traits in common you know.

     

    MHO,
    HardToLove
    8 Nov 2010, 08:57 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    He does, but LESS the Prebate provision, which means...

     

    Not really. Without the Prebate, it is unpassable, even in the new House, much less the Senate, and forget about repealing the 16th Amendment.

     

    But this IS some solid movement from Paul, and a welcome change. You're likely to hear similar support from others in the Right wing of the GOP, but again with a "tweak" to replace the Prebate (which for the more ideologically committed does, indeed, represent the socialist function within the mix).

     

    If the fighting between the two extremes boils down to just hashing out the details of the Prebate, though, THAT would be encouraging indeed!
    8 Nov 2010, 09:31 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Maybe that is the strategy to allow the other side to put the prebate in and feel its bi-partisan.
    8 Nov 2010, 03:09 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    "China suffers diesel shortage, disrupting industry"

     

    www.google.com/hostedn...

     

    Thanks to moonman4518 @ Yahoo! for catching this.

     

    Seems that industry bought a lot of diesel generation systems, and now the untended consequence of the imperial-edict for cuts in energy use has come to the fore.

     

    (CPST) might be able to help. I assume they have a lot "waste" that could generate various bio-gases and fuels that CPST would run on just fine.

     

    With the recent activity in China starting to use CPST turbines, we might see a little surge there.

     

    HardToLove
    8 Nov 2010, 09:13 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Took profits on (NVAX).

     

    Buying (adding) (CPST), (LYSCF) [buying opp in this one, imo], (MLLOF.PK), (NATUF.PK), (PAL) and (PLG).
    8 Nov 2010, 10:53 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Anyone interested in this one, Rodman and Renshaw (RODM)?
    finance.yahoo.com/q?s=...
    **********************...
    G20 isn't going to be all chocolates and roses, more like guns n roses!
    finance.yahoo.com/news...=
    8 Nov 2010, 12:46 PM Reply Like
  • Joseph L. Shaefer
    , contributor
    Comments (1633) | Send Message
     
    I like all brokerages, fund families, and listed advisors at the beginning of a bull. That's when their earnings get predictable.

     

    Rodman's P/B, P/E and P/S are better than almost all its peers; Current assets = lots of cash. The only thing not to like about it, and possibly a deal-killer, is that Wesley Clark is Chairman. If he is just there as a political rainmaker RODM would be of interest; if he's micro-managing it, he'll bring it down...
    8 Nov 2010, 08:27 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    that's good to know, JS. I thought it looked rather enticing, not knowing anything about management.
    8 Nov 2010, 08:29 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Hmmm, OG: I wasn't aware Rodman and Renshaw were publicly traded. I do follow their events calendar, for potential short term trades. Thanks!

     

    ####

     

    Gamer account doing really well today, despite the down markets. (ATPG) up $1.15, 7.61%; (LPH) up .35, 10.00%, Nova Gold is simply going crazy, up .90, 6.74% (and up a whopping 93.23% since June 29th!)
    8 Nov 2010, 01:18 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Now that Ireland is back in the news, EUO (2x short euro) is having a very nice day.
    8 Nov 2010, 01:40 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » Wall Street wants to "help" shape those portions of the financial reform bill that haven't been hammered out yet!

     

    "The financial system nearly shut down. It's only two years on. You need a little bit of patience to rebuild, to accumulate the capital you need."

     

    Word on Main Street is that the banks have excess capital and that there is nothing to worry about. Their assets are sound. Yet now they say that they still need to raise more capital. Which is it? I think that any rational thinking human being can figure out that all is not well with the balance sheets at the banks. Given time, I do believe that they actually could work their way back to a strong balance sheet, but truth is that they still hold hundreds of billions worth of mortgage-backed securities that have gone sour with more becoming non-performing. All the while, the banks are stating that their provisions for losses are falling because those assets are really performing. Again, which is it?

     

    "SIFMA President Tim Ryan said the group wants to help flesh out the "Volcker rule" on risky bank trading, among many other provisions, of the reforms approved in July."

     

    Isn't this rich? What they really want to do is delete the Volker rule so they can continue to manipulate any market they want: silver, stocks, commodities, oil. That is where the majority of GS earnings are coming from, according to an article I read in either Forbes or Fortune magazine the other day, something like 70%!

     

    Here's the link to the full article.

     

    news.yahoo.com/s/nm/20...
    8 Nov 2010, 02:19 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Between congress and the banks working on this it seems like 2 foxes guarding the hen house.

     

    It absolutly can't be good for us chickens.
    8 Nov 2010, 03:31 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Silver through the roof again today now up 86 cents to $27.59. Just rolled into another bar.

     

    Still not sure where resistance is even with the binoculars.

     

    I think the shorts have a marathon to run butt naked.

     

    This price action must be a short squeeze.
    8 Nov 2010, 02:53 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    we have a new/old puppy for you:

     

    Polymet, PLM, tremendous volume explosion, looks in breakout mode, This is a Shovel Ready company which will create jobs in Minnesota.

     

    We believe the political changes there will expedite approval.

     

    Its a 100% gainer at a minimum.

     

    PNPFF, EGI are running
    8 Nov 2010, 02:58 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I remember (PLM). I have a folder on that one around here somewhere...
    8 Nov 2010, 03:03 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    OE, Grabbed 1000 shares to start. Thanks.

     

    Revised expectations: Expect silver to hit $30 by year end... not waiting till March.
    8 Nov 2010, 03:18 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    You could be right, Guns. The silver short candy mountain is melting faster than I thought it would!

     

    Congrats to all the Renegade silver fans (which I think is about all of us)!

     

    My silver stocks are ballistic: (GPRLF.PK) up 16.13%, (FRMSF.PK) up 10.46%, and even staid old (SLW) is up 5.67%.

     

    Also noteworthy, the platinum group is keeping pace, (PLG) up another 5.62%, and (PAL) up 2.73%.

     

    Oil stocks are also having a good day, as Maya pointed out, (ATPG) is up 6.41%, and (RIG) is up 5.66%. My royalty trusts/high yield oil/gas plays are all showing solid gains, too.
    8 Nov 2010, 03:49 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    There are still a WHOLE lotta short contracts out there so there is so much more room to move up as they close them out. I think they have something over 62,000 contracts yet and that could take months to unwind. There could be some pull backs but they have a lot of work to do if they are going to pull this down and the lawsuits have started. The propriatary desks have been closed and everyone is watching thier every move.

     

    They have no clothes.

     

    Mineweb article on the short squeeze. OG thats for you since you cant get in as much. I know you like mineweb.

     

    www.mineweb.com/minewe...
    8 Nov 2010, 04:29 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » Talking about shorts, I noticed that the shares short on PLG rose from 75,730 last month to over 1.29 million this month. Somebody is playing this one big time! Could be ripe for a short squeeze?
    8 Nov 2010, 05:10 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    JPM trying to pull another fast one? LOL, I just don't know anymore, but is it paranoia after the recent revelations in the silver space?

     

    The timing is just BEFORE the silver squeeze, so it could be some bigs have been caught leaning the wrong way again. Palladium is trading huge, up over $700.

     

    I have (PLG), and have added more twice. (Tip of the hat to Joseph Shaeffer, thanks!) Still holding all shares, though its up plenty enough to take profits...

     

    But I think I will just add more instead. I believe this stock still has room to run, given the situation....

     

    Though I WILL take profits when it hits $3.
    8 Nov 2010, 05:32 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Just went through and updated stop orders, good time to do this after such a strong run. Doing some light housekeeping, polishing the silver, LOL.
    8 Nov 2010, 04:06 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    I imagine you, with your little rag doused in silver polish muttering "excellent" a la Monty Burns.
    8 Nov 2010, 04:13 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    OE, I am up 2.4% on that PLM already. woohoo!!

     

    Thanks.
    8 Nov 2010, 04:20 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Ha! I gotcha beat, up 2.75%, but only 500 shares.

     

    Thanks One Eye!
    8 Nov 2010, 04:39 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    GUYS
    Thanks for your input as i have been having a great time watching the profits grow, being new i also added TOO to my portfolio today and shaved some profits from SLW, SLV, AND SIL today as i am not use to seeing anything rise this fast so quickly. Plus it has given me funds to expand into other ares, a sincere thanks to the renegades, you are ahead of the curve !!!!! TRIPLE, your messages have been a blessing to a novice, i have to throw that out there as well, thanks

     

    ACE
    8 Nov 2010, 05:03 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    This might belong in humor for the coming week, but ...

     

    Thanks to stocktrader555 @ Investor Village for finding this.

     

    It's really worth watching.

     

    www.thedailyshow.com/w...

     

    HardToLove
    8 Nov 2010, 05:03 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Great one, Hard! I predict by the year 4869 that the US will be off Middle Eastern oil dependence. Okay...maybe by the year 6125.
    8 Nov 2010, 05:35 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    Yes, but because everyone will be driving electric cars, we'll just switch off of foreign oil dependence straight over to foreign REE dependence.

     

    So really, who do we want to be dependent on? The Middle East, that wants to destroy the great satan, or the Far East that wants to simply own us as consumer slaves?
    8 Nov 2010, 06:22 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Maybe, Z! I'd like to think human brain power by then will be so broadened and wily that one could be in 13 places all at once. I'm already at three to four, because I'm always running two puters, maybe doing something on my I-phone, always have the boob tube on. I'm considering getting another puter, and another flatscreen, because I'm getting bored of only having what, five, six simultaneaous inputs? I need more! Want more. Have to have more, more, more! Help me with my information addiction!

     

    Maybe I can call this, "cognitive astralputerprojection omni-tasking adroitness syndrome?" Holographic transportation stocks will be the thing to own! Omniscience physiologists PhD's will be making billions in gold latinum.
    8 Nov 2010, 10:36 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Added second block of (NXTH) and watched the precious pennies stacking up. Even (NAK) was moving. The new kid on the block (RVMIF.OB) showed a nice move as well. Thanks TB and OE. I've been moved back to special projects and will now have to work two Fridays a month! Woe is me! I think I hear some snickering in the peanut gallery. I was poking around the energy patch for a companion play and found these. (TRP) and (WPZ). I think I like (WPZ) better but the growth prospects may enhance (TRP) any ideas?
    8 Nov 2010, 05:53 PM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    Anyone know what is up with Gazprom? On my radar for natgas, and down 28% ?
    8 Nov 2010, 06:29 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Indian gold buying is heavy despite high prices
    www.ft.com/cms/s/0/f28...
    8 Nov 2010, 06:33 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    hey, anyone have an opinion on RVMIF ( REVETT) as i bought it at 49 cents and since it is up over 30 % ....closed at 64 cents...
    8 Nov 2010, 07:22 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Aceheart: Greetings. I like the company and bought in Friday around the same price. Looks to be up and coming with good growth potential. Welcome to the "Renegades.".
    9 Nov 2010, 10:30 AM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » It looks like there is growing dissension in the ranks at the Fed as more Fed officials stray from the party line and go public with their views. Could this be why stocks are taking a breather? If QEII is no longer 100% with additions later, then how will the market react? Here's the full article.

     

    news.yahoo.com/s/nm/20...
    8 Nov 2010, 07:39 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    And with Ron Paul likely to continue to chair the committee that oversees the Fed, and still pushing for an audit and still an avowed "Ban the Fed" instigator, maybe some folks rationally wonder just how much of QE 2 will actually get done.

     

    HardToLove
    9 Nov 2010, 08:35 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11779) | Send Message
     
    Stocks ran up on a split government I think more than QE II. Talk about stealing the victory thunder. The simple fact is no more threat for wild tax increases like a VAT tax can be considered and forget dumping more costs onto businesses with a split government. Let's celebrate no more years of complete Rebublican out of control spending (Bush Jr.) and no more Democratic ones either (OBama). It's time for fiscal sanity and watching the government choke on its own overspending for a decade or so without being able to pass tax increases.

     

    Hurray for the private sector.
    8 Nov 2010, 10:28 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Moon, there is a choking sound coming from washington and it is the sound of them choking on thier own methane. They have had thier heads up thier..........well you know, for so long it will take them years to figure out what happened last election. The reps will think its because we love them and the dems think they did not message well enough (tallk about arrogance). Nothing could be further from the truth.

     

    The truth is it boils down to "the enemy of my enemy is my friend" and the party in total power is our biggest enemy. Now that things are split they are both equally our enemys and we the people need to get back in the house. goooh.com
    9 Nov 2010, 10:06 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    I"M WRITING IN CAPS TO GET ATTENTION.
    OK, here goes:
    Mark Bern has done a bang up job on the quick chats, but his schedule is changing shortly.
    I had a surgical procedure last Monday, this was my first day back. I don't know when I will be able to resume the quick chats.
    Is there another volunteer waiting in the wings?
    We can offer no pay, thumbs up, and many thanks.
    8 Nov 2010, 10:29 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I'll give it a go. I'm unsure of how effective I'll be, but I certainly owe to the 'Gades to give it a shot!

     

    HardToLove
    9 Nov 2010, 08:41 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I'll back you up in that HTL. After this coming weekend, I put my travel schedule to sleep until next March.
    9 Nov 2010, 09:07 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    OG, First I would like to say welcome to your first day back. Recovery process will go well...... we (renegades and SA members) all hope.

     

    Fortunately volunteers have come forward and I can bow out of volunteering to handle the quick chat gracefully....for now.

     

    HTL and Triple, I will do anything I can if it is needed. Just drop me a message.

     

    I will say both of you are much more technically proficient than me but if you need your boots licked to keep up the chat.......Maya will not be that busy on his trip and that service requires no power.
    9 Nov 2010, 09:49 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11779) | Send Message
     
    I'd be happy to since I troll SA all the time anyway lol.
    10 Nov 2010, 12:19 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    I'd take the reins OG, but I'm off to CA shortly for another trip. Power ain't the best down there. Hoping you're doing much better very soon! By the way, I'm not sure it's necessary to put all stocks mentioned in the previous Chat at the heading of the next Chat. Too time consuming?

     

    Mark: You've done a commendable job, pal. Thanks.
    8 Nov 2010, 10:57 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Sell them a (CPST) distributed-gen bio-gas unit while your down there! And if they don't have a distributor nearby (you mentioned that before) we can get a consortium of 'Gades together and get the owner to just pay expenses, provide room and board (uh, and libations, of course), and we'll all come down and (pretend to) install it!

     

    Might take at least a month! ;-))

     

    HardToLove
    9 Nov 2010, 08:45 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Oy, Gee: Greetings. I trust all went well with your recent surgery and wish you a speedy recovery. Mark, Bern: Greetings. You have done a great job with the QCs and I'm grateful for that as this is along with the peripheral Instas the most useful investing tool on the web. Thak you to H.T.Love and TB for volunteering their time and effort. You guys contribute so much already it seems unfair to saddle you with the QC maintenance tasks as well but if you need something I can help with don't hesitate to ask. Thanks again to all of you.
    9 Nov 2010, 10:40 AM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    this article interest anyone???

     

    finance.yahoo.com/bank...

     

    Can this run be coming to an end??

     

    ACE
    8 Nov 2010, 11:21 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Yes, I read it yesterday. Typical arrogance (ie, all retail investors are "dumb"). He's looking very short term at the most recent weekly "flows", which is of course the most short term of indicators short of some daily measure. What I am looking at is where the accumulations are SITTING - and have been for well over a year.

     

    And that is in cash and bonds. These levels are historic highs, by a long shot, and the recent moves mostly involve "new" money (401k deposits from current earnings, ergo, a change in the direction of new money going INTO that account rather than a transfer of the bulk of the account back into equities) rather than this entrenched mountain of liquid assets.

     

    When we see bonds as a percentage of the total investment pie lose some large portion of their weighting - and that money flowing into equities - that would be significant.

     

    Also note that the bulk of the new money flowing into the equity markets is institutional. Is the author calling the big institutional investors "dumb money"? I don't think so. Anyway, this is typical, the big institutions are much more nimble than the average retail investor (and driven to invest, unlike the frightened average joe who was burnt badly and is now wary).

     

    This COULD be a peak, of course, particularly if the Fed has to confront an uprising in the new Congress come January, so there is risk either way. QE2 may never get off the ground, and should that happen, it could get rough.
    9 Nov 2010, 07:07 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Also, NOTE the overall market performance recently. One fairly big up day, then down/sideways. What HAS been showing an influx of money has been COMMODITIES, and equities which are in the commodity business. Remove THESE investments from the markets, and the results are pretty limp.
    9 Nov 2010, 07:10 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Ooooh! Mark, did you see this? Do I have to set tight stops because emboldened aliens are now buzzing Chinese airports and the DC area? When we have the secretary of Homeland Security publicly admitting this WAS an UFO... Not sure what to make, but here's the article:

     

    www.newsoxy.com/world/...
    9 Nov 2010, 12:38 AM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » A group of my friends and I saw something like that when we were in high school. When it finally took off, it crossed the entire horizon at high altitude in less that three seconds and then it was gone. We never said anything to anyone because we knew people would think we were crazy. I wonder how many others similar instances have occurred that have gone unreported for that reason?

     

    Perhaps the aliens are now doing some recon expeditions to determine our strength and potential resistance levels. :>)
    9 Nov 2010, 03:06 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (CPST): reporting and CC after market close (AMC) @ 16:45.

     

    Up pre-market 2.53% to $0.81.

     

    hardToLove
    9 Nov 2010, 09:18 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Marine buddy came into town last night from Tampa and we went to the Steelers/Bengals game. Awesome game went right to the final minute. Getting home was a 3 hour crawl (traffic!!!..... no not drunk) out of Cincinnati, so I just got up and what did I see.......SILVER surged past $28 to 28.21 and Palladium to $727.00.

     

    This can't be just a short squeeze with every metal in the marathon.

     

    This is inflation. Thank Benny for the QE2. I will be buying four 55 gallon drums of dried shelled corn Saturday for storage at 11 cents per pound if we buy 500 lbs minimum. Will have plenty corn meal and/or corn squeezings. *Hic*

     

    inflation.us/foodprice...

     

    Herd about this site on Glen Beck and it will shock you. Hang on to your wallet.

     

    An excerpt from the free report:

     

    "The median U.S. home is currently worth $171,700 or
    6,550 ounces of silver. After the inflationary crisis of the
    1970s, the median U.S. home declined to below 1,000
    ounces of silver. NIA believes that because this decade’s
    Real Estate bubble was so large, Real Estate prices will
    likely overcorrect to the downside and the median U.S.
    home will be worth only 500 ounces of silver at some point
    this decade. Therefore, if you buy just $13,000 worth of
    physical silver today, NIA believes you will be able to pay
    cash (without any mortgage) for an average American home
    within the next 5 to 10 years."
    9 Nov 2010, 09:37 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Wow, we got three volunteers for quick chat. L98, HTL and Triple.
    That's great. What if L98 did Dec., HTL did Jan, and Triple did Feb (based on availability?)
    Hopefully I will be back in the saddle by then.
    9 Nov 2010, 09:40 AM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    And if not, I'd take a month. I'm lurking for most of the week, with a smattering of lurkage during the weekends as well.
    9 Nov 2010, 09:45 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I'll take whatever. I owe so much that I want to squeeze in whereever I'm needed.

     

    HardToLove
    9 Nov 2010, 09:51 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I'll take any of the "watches" needed, its all fine with me. Ha, I'll post some of my fantasy cartoon art as the lead in, and after that, NOBODY will ask me to do it ever again, most likely.
    9 Nov 2010, 10:00 AM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6783) | Send Message
     
    Best of luck to the volunteers.
    9 Nov 2010, 11:21 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Buying stock this morning...

     

    Added (ATPG) [buying on the slight dip this morning], (BBEP), (FRMSF.PK), (GELYF.PK), (PLG).

     

    I loaded up on (LYSCF.PK) yesterday, and tried to get more cheap at $2.18 this morning, but no joy, its up over 8% already.

     

    Initiated a position in (SNDXF.PK), hat tip to Hyperinflation.
    9 Nov 2010, 10:06 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I had an order in for LYSCF.PK at $1.12 but it never got there.
    9 Nov 2010, 10:12 AM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    I got in yesterday as well at $1.16.
    9 Nov 2010, 12:18 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I loaded up yesterday at $1.16, and had a program buy for more (color me greedy) this morning at $1.18, but no joy on that one.

     

    I've been tracking Lynas all day over on the REE Concentrator, and it is was up over 11% last I checked. Still well below recent highs, of course.
    9 Nov 2010, 12:22 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Good gravy I'm making stupid money in commodities this month, I am going to have to revamp my stop orders AGAIN, and I just went through them last Friday!

     

    Its wild how long we in this group have been focusing on the junior miners, and the precious/strategic metals. Also the whole narrative about degraded fiat currencies and commodity investments...

     

    And now its ALL coming together. My heartfelt thanks to all of you, and all those whose freely given information has led us to this point. Its a little early for Thanksgiving dinner...

     

    But I see it glowing before me here on SA!
    9 Nov 2010, 10:09 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Really happy for you, Trip! Great work.
    9 Nov 2010, 10:46 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Would seem stop order maintence will be an every other day event and maybe soon a twice daily event....actually in hyperinflation environment there is no need for it. Everything goes in one direction mainly and getting stopped out would be disasterous.
    9 Nov 2010, 10:47 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    PLM up 8.89% this morning.

     

    OE, thats a beautiful eye.
    9 Nov 2010, 10:40 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Just finished that task. Raised stops up on all sizeable holdings. Going incommunicado late Thursday and all of Friday.

     

    Also added PLM, and just bought more SVM. Both down some since purchasing.
    9 Nov 2010, 11:31 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Been checking into ATPG this morning, reading their quarterly, reading the insanity going on over in Yahoo!F, another article here on SA. Really divided, very emotional, the opinions from followers and owners of ATP.

     

    Bottom line seems to be that dept has increased, because of delays in gaining deep water drilling permits (apparently, today, the first GOM deep water permit was granted, but not to ATP), that they continue to build out their next monster oil platform in China, "Octabouy," which is 80% completed, and headed for the North Sea oil fields late next year. Loans are expensive, and leverage is hovering around 5:1, quite untypical for oil companies these days. And, that their purchasing castaways from the oil giants because these fields are not major producers. But these fields are hitting at about 98%. And with Titan, they can just float the platform on over and start sucking the earth dry. Pretty ingenious concept is my take.

     

    Shorts on this stock are approximately 50%. They're doing any and everything to keep this stock down.

     

    How they're going to do this I haven't a clue, as ATPs revenues are up 70%! And...they have four more wells coming on line soon.

     

    A stock not for the timid investor. A great stock for the advid trader. I'm both long in my brokerage account, having acquired shares for under 5 bucks, and also seemingly always trading this stock in the gamer account.

     

    The Jekyll and Hyde in me... `
    9 Nov 2010, 10:44 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Trip, and anyone else interested in the ATP evolving story, here's the SA article titled, "Why I'd Avoid ATPG." The sniping going on...what a viper pit!

     

    seekingalpha.com/artic...
    9 Nov 2010, 10:50 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    This comes with the territory when you get a large population of shorts working over a stock.

     

    I think of their "contributions" as "anti-pump".

     

    I just added more (ATPG), and if anyone looks back over the last few QC's, you will see signs where I have been actively accumulating for quite a long time.

     

    RIght now the pundits are staring at the large quantity of crude which has been imported by the United States (mostly from orders placed due to the Regime's epileptic seizure over the BP disaster, then followed by some really poorly thought-out buying models triggered by global warmists issuing major hurricane strike predictions).

     

    The pundits, are, as often happens, wrong. LOL, or at least I think so.

     

    I see (ATPG) bumping $20 per share before too long.
    9 Nov 2010, 11:02 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    OK. We've 100+ comments. We can't flip a coin.

     

    I'll be listening to the (CPST) report tonight. If no one hollers "I got it" by the time I'm finished (est. ~17:30 EST), I'll initiate a new chat and try to have the list of stocks mentioned here included by sometime tomorrow, at the latest.

     

    HardToLove
    9 Nov 2010, 10:59 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Security and Exchange Commission: Mary Shapiro is putting the boot to the sluggards.

     

    Stub quotes (orders entered never intended to execute - prices extremely distant from "reasonable") prohibited.

     

    sec.gov/news/press/201...

     

    No more free, unfiltered sponsored access to markets for certain clients of large market brokers.

     

    sec.gov/news/press/201...

     

    Both good moves, IMO. Might, along with future moves, begin to make a "retail friendly" market possible somewhere down the road. Bigger problems still to be addressed, of course.

     

    HardToLove
    9 Nov 2010, 11:08 AM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    OG has asked me to take over the chats through the end of December. Several of us volunteered, and through chat or email we'll figure out who wants it next. After talking w/ OG, I'm thinking I will set up an identity "QuickChat," for the sake of continuity...and so my comments as 98 will not be as an author's reply. The next handler can just take over the password and keep going. I'll set up all this tonight, after making sure with Mark that we're ready for a handoff.

     

    Any thoughts on this....feel free.
    9 Nov 2010, 11:34 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I like that I.D. "I.D.ea".

     

    And it means that O.G.'s original idea has really morphed into a "community" effort. A great thing, IMO.

     

    HardToLove
    9 Nov 2010, 11:42 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    L98, Thats preciesly the technical stuff I was talking about when I said I was not that good at this. Grunt work I can do.

     

    Sounds like a great plan.
    9 Nov 2010, 11:54 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Cool.
    9 Nov 2010, 11:46 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    I'm truly amazed and grateful for the community of selfless and generous individuals that has grown here on Oy, Gee's QCs. I doubt there is a more inteligent, honest and cooperative investment forum than this one to be found any where. Kudos to the Renegades and to L98th thanks to all of you.
    9 Nov 2010, 11:49 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Talk about time travel. I went to QC 117 and could not make a comment because it said there was an error, then I couldn't leave. I thought I was down the rabbit hole for sure.
    9 Nov 2010, 11:50 AM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Sorry about that Guns, that was me doing that. I started the insta, then saw the new plan that was brewing, and pulled it ASAP.

     

    I hope you didn't get scraped up too bad.
    9 Nov 2010, 11:53 AM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I am fine, I just have never been swept off my feet like that before.

     

    A little music and it would have been perfect.

     

    www.youtube.com/watch?...
    9 Nov 2010, 12:08 PM Reply Like
  • Joseph L. Shaefer
    , contributor
    Comments (1633) | Send Message
     
    Ain't that always the way with rabbit holes and stocks? It's EASY to get in; the tough part is knowing when and how to get the heck OUT!
    9 Nov 2010, 12:09 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    What a great link to one of my all-time favorite songs and groups!

     

    27 "Thumbs UP" (while they're still good)!

     

    HardToLove
    9 Nov 2010, 12:19 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I think the white knight and Benny speak the same way....Backwards.
    9 Nov 2010, 01:21 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Peter Schiff article

     

    seekingalpha.com/artic...
    9 Nov 2010, 11:59 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    This article is screwed up, with some really bad premises, such as
    "it's good C doesn't have this on their balance sheet".
    It also has a way-out-there worst case scenario, but after what happened with AIG, I wouldn't discount it all that much!
    So, here's the article, about how C might be 133 Billion in the hole, based on "put backs"--buying those packaged mortgages back from the investors that relied on C to tell the truth about what was in them.
    The way I interpreted this article, I think the writer gives Fannie and Freddie free passes they don't deserve.
    Goldman Sachs (GS) came out and said BAC has even more liabilities than C.
    It's a friggin' nightmare.

     

    www.cnbc.com/id/399164...|headline|quote|text|&...
    9 Nov 2010, 12:02 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Each individual bank want us to focus on someone else but them.

     

    I would look real close at who is doing the finger pointing.

     

    Actually I would not touch a bank with a 10 foot dollar right now.
    9 Nov 2010, 12:21 PM Reply Like
  • Joseph L. Shaefer
    , contributor
    Comments (1633) | Send Message
     
    I think we agree more than disagree, Guns -- I wouldn't touch a TBTF bank for nuthin'!!!!!!!!!!! (Actually, I swore off them pretty soon after I entered this business, back when Citi et al were whining that they needed taxpayer bailouts for their stupid, stupid entry into South American sovereign debt nearly 40 years ago. "Sovereign nations do not go bankrupt," Citi's then Chairman Walter Wriston intoned smugly.)

     

    But the turmoil there has punished hundreds of well-managed, bulletproof balance sheet community banks across the country where inward migration continues apace and loans are being made to clients who have been with the same bank since Daddy was in knee-britches. THOSE I'm quietly accumulating...
    9 Nov 2010, 12:37 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Actually those little banks will do great when the t-rex banks are gone.
    9 Nov 2010, 12:51 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4708) | Send Message
     
    I got in to a little (BAC) a little while ago and I'm up 10%. My thought process is that if armageddon comes, who will do better, me or BAC? I put some faith in the notion that BAC will be around a lot longer than me. Granted this is not a lot of money nor is it for a short term trade. I just have a suspicion that with all the power these banks have, traders of the future will look back on this era and say "wow you could have bought these banks for next to nothin in 2010". It would be worth the loss to see these maga banks go under, however.
    9 Nov 2010, 12:58 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I think it will be dead money for some time. That is the downside...unless they go under and the managment all has thier heads delivered to the masses on pikes.
    9 Nov 2010, 01:18 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    DM: A decent piece of my brokerage account is with Wells Fargo; some preferred shares, too. I also own some J.P. Morgan, though Jamie Dimon is becoming once hero, to anti-hero, as I learn more and more about his shorting antics.

     

    I'm with you about how, someday out in the future, I'm going to look back and be grateful I acquired some Wells at ridiculously cheap prices.

     

    Most of you have already endured my rants about pundits here on SA and elsewhere that take snapshot views of Wells' balance sheet, completely missing, or purposely avoiding their humongous present and future earnings power, i.e., their long term growth story. I'm not saying Wells is as innocent as a lolita at a cotillion class, but they do have one whale of a future once they wash through, earn their way out of the defaulting mortgage exposure.

     

    About two and a half to three years they will have powered their way through this mess, and the stock will be double what it is today, with a vastly higher dividend, too.

     

    I do understand some of your viewpoints about how the TBTF banks are largely responsible for this recession we're in, and understand that based on principle why one would not own these TBTF banks. I'll never own Goldman just for this reason.

     

    But, I'm in this game to make money, and I don't consider myself a ruthless tyrant owning Wells, or, at making a "killing" last year from H1N1 via NVAX; pun intended!
    9 Nov 2010, 01:38 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    There seems to be some piling on here as Whalan is also opining that Bank of America (BAC) will go into receivership if the MBS keep loosing value. I had read from other sources that Citti (C) was in deep Do-do as the Citti Holding corps (Cittis bad bank) was grossly over valued while Citti was insisting that @ $65B it's well capitalized. With goldman Sachs (GS) now entering the fray I totaly distrust all of it. GS is up to something. Possibly entering shorts and playing both sides of the trade. That is something we have seen them do before so be aware and beware of GS.
    9 Nov 2010, 12:12 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Yep, get that one tattooed somewhere: "Beware GS!"

     

    Ranks right up there with that great line from "The World According to Garp":

     

    "Beware the dreaded undertoad!"

     

    (Of course, translated from kidish, it should really be a warning to swimmers, ie "Beware of Undertow", but I like the original better).
    9 Nov 2010, 12:17 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I think silver market is only allowed to move 8% in a day and they close the market.

     

    We might see that. Now approaching $29.00

     

    Holy sh$t batman.

     

    Time to roll in another bar.
    9 Nov 2010, 12:32 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    lol I was on my way to our corporate office in Denver this morning and had to get on Google Maps just to find a coin dealer on my way in. Found one that only charges $1 over spot. Looks like Tuesday might just become my silver buying day...
    9 Nov 2010, 12:44 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Crap, margined out on silver. Must... send... more.... money.

     

    ummm.....errr......fiat.
    9 Nov 2010, 01:04 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (TLT): not far from a 100 day low. Oddity: (TLT) and (SPY) moving same direction today, and intermittently over the last few days intra-day too.

     

    Hm, two of our major assets both moving down together when they traditionally move inversely. I guess a message is being sent by multiple markets expressing an opinion on QE 2.

     

    I can't wait until Ron Paul is able to start weighing in. By the time he gets his shot, should be a $h*tload of ammo available to him.

     

    Employment will be still abysmal, unemployment still up, economy still anemic, bonds worthless (maybe), dollar used for home heating, ...

     

    Of course, all this could be negated, I guess, by another round of Euro-zone crises, etc.

     

    HardToLove

     

    P.S. Even (TIPS) is down.
    9 Nov 2010, 12:40 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (TLT), (SPY): well the bond auction gets done, Santelli gives it a C+, bid to cover abysmal, but indirect strong and both SPY and TLT turn up. Might be a knee-jerk reaction, but who nows?

     

    HardToLove
    9 Nov 2010, 01:11 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (TLT), (SPY): Well, SPY down, TLT only needs $0.14 down to make a new 100 day low.

     

    Long-bond bubble seems to have indeed gone "Phfzzzzt", as suggested.

     

    HardToLove
    9 Nov 2010, 01:31 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    This idiot at Huffington Post is advocating Obama as a dictator!
    www.huffingtonpost.com...
    9 Nov 2010, 12:53 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    What do ideological radicals care for the constitution, respect for rights and due process?

     

    NADA!

     

    Whichever party they may claim, their behavior is predictable.

     

    HardToLove
    9 Nov 2010, 01:01 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    SLW: Production exceeds sales.
    www.mineweb.com/minewe...
    9 Nov 2010, 12:57 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    If he goes that route I will volunteer my bumper sticker as the solution.

     

    Impeach Obama!!

     

    I expect to be attacked by the troll and his maggots on that note.
    9 Nov 2010, 12:58 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    DG your wish came true. Last I checked silver was 29.07 and gold 1422 and change.
    I am finally in the black on PNPFF.
    9 Nov 2010, 01:22 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    OG, On that note time for another ditty.

     

    www.youtube.com/watch?...

     

    Silver, the long legged sexy lady in my dreams.
    9 Nov 2010, 01:32 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    That's another favorite! Add "Pretty Woman". For all the ladies whose inner beauty shines through here via their actions!

     

    www.youtube.com/watch?...

     

    HardToLove
    9 Nov 2010, 01:37 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    HTL since you like those ones I have one more and I will dedicate it to Benny and Timmy.

     

    I put it in as a request over on Shiffs article.

     

    www.youtube.com/watch?...
    9 Nov 2010, 01:52 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    OMG! We are *so* old! That was one of the more profound hits that came out of the era.

     

    It's interesting though how much the music of our day reflected the turmoil and disruption we were going through as a society.

     

    I've been think that a parody song, based on Elton John's "Benny and the Jets" should be done. It would be titled "Benny and the Feds".

     

    Of course the lyrics might be a little bit different.

     

    HardToLove
    9 Nov 2010, 02:06 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    It equally applies to the destruction going on today.

     

    Think fed, dollar, banks, markets, 9/11, terrorists and of course Afghanistan.

     

    A complete remake with todays images to include t-party protests and of course goooh would be great.
    9 Nov 2010, 02:10 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    I am so late for work....my wife is gonna kill me. Cant stop watching the silver chart.
    9 Nov 2010, 01:36 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Huffington Post is like a slow motion train wreck. You don't want to watch but often can't help taking a peek. It just goes to show how little understanding they have for constitutional principles and democratic processes. Progressives are continuing to insist that they can do an end run around the people and the legislature because they have been succeding for decades in doing just that. Now they have taken a pounding in a midterm election that they blame on the electorate being too stupid to understand all the wonderfull things they did for us in the last two years. Any dissenting voices or those that don't fit the naritive ala Juan, Williams must be silenced. I have a news flash for them the new majority in the house is likely not going to tollerate the executive branch using them for a door mat the way Pelosi's did. I can foresee them exempting CO2 from EPA control and sending it to the Senate where the Democrats would have to either opose the measure and take the blame for higher prices. Or pass it and send it to the POTUS who would have the same choice. Those tactics will be repeated for the next two years exemplifying the deferences in philosophy between the new Repulicans and those of both parties who went before. If they thought this election was a drubbing just let the econonmic situation deteriorate with the finger pointed squarly at them and see what happens in 2012. I hope they succeed with all of their plans. Come JAN 2013 there would be a lot fewer progressives in the halls of power in D.C.
    9 Nov 2010, 01:43 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    Hey

     

    i just sold some profits from RVMIF.OB. Revitt has been up over 45 % since i owned it... As a noobie still can't get use to waking up each morning looking at an all green screen. Makes a guy with three disc fused stuck in bed at least have a happy face !!!! Again thanks to the renegades for holding my hand and helping out a fella disabled. But i will be up and about soon i hope.. OG, not sure what you had done but as i see you posting more glad you are feeling better

     

    ACE
    9 Nov 2010, 01:45 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Ace: Greetings. Hope your back heals quickly so you can get back on your feet. Investing with the help of the "Gades." is difinitely fun and profitable. While we have days swimming in red ink most of the time we stay above water with many irons in the fire so to speak. Don't forget to visit the peripheral Instas they can be quite valuable. Hopefully User will return soon.
    9 Nov 2010, 01:58 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Ace, thanks for the good wishes. Wishing you a speedy recovery!

     

    Here are some regional banks that have potential:

     

    finance.yahoo.com/bank...
    9 Nov 2010, 02:04 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Stopped out of (SVM) for a handsome gain. What a plummet on a day when silver is up! Already re-acquiring at a lower level than which I stopped out.
    9 Nov 2010, 02:05 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    I'm not sure where I saw this posted, but it stuck with me.

     

    Enjoy!

     

    www.youtube.com/watch?...

     

    HardToLove
    9 Nov 2010, 02:08 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (DXY): Must be some sentiment out there that Benny is going to fail @ QE 2. Dollar's tearing to the upside today! I guess with every foreign government likely putting stops on capital inflows from the U.S., I guess folks figure it won't be able to devalue all that much in the international markets.

     

    Or maybe it's just one of those "technical move" things.

     

    HardToLove
    9 Nov 2010, 02:13 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    The shorts have attacked silver. The fun begins now, last time @ 1 week ago they got slaughtered. Silver fully regained by the end of the day.
    9 Nov 2010, 02:14 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    I'm seeing a reversal in silver (and somewhat in other PM stocks):

     

    (FRMSF.PK) down 7.31%
    (PAL) down 4.23%
    (GPRLF.PK) down 2.78%
    (PLG) down 2.50%
    (KGILF.PK) down 2.48%
    (SLW) down 2.40%

     

    Something is definitely UP!!!

     

    I may run into my tight stop in SLW, PLG and PAL.

     

    Watching closely at this point, Maya, be careful with (SVM).
    9 Nov 2010, 02:29 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Same with ATPG. I set a much lower stop than I did with (SVM).

     

    Short suckers didn't get me...yet!

     

    Gamer board looks like a bloodbath today. Only New Gold and Molycorp are up. Nova Gold (NGD) and Axion (AXPW) are flat.
    9 Nov 2010, 02:55 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Kitco charts for gold and silver pretty interesting, something wild happened just in the seam between NYMEX handing off to Globex at 2pm. Silver dropped $2+ in a few minutes. Now resumed a normal pattern, once again trending up. Quite a broken elevator ride.

     

    Ugly chart, and I'm not quite ready to call it a buying opp, but it might well be just that.
    9 Nov 2010, 02:38 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Is it the dollar strength affecting the PM's? (DXY) now up to $77.45, from a low of $75.67 on 11/04 and today's low of $76.78

     

    HardToLove
    9 Nov 2010, 02:41 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Dollar and currency wars is definitely part of the story. News out of Eurozone is downright nasty:
    finance.yahoo.com/news...=

     

    But timing makes me see the fine hand of the same bahstards that have been manipulating silver and gold for so long.

     

    REE stocks are the life preserver keeping me in positive territory today.

     

    Just looked over my stocks which "took the header":

     

    (FRMSF.PK) is down 6% now, up slightly from where it was

     

    (GPRLF.PK) has deteriorated to down 3.08%

     

    (KGILF.PK) is still down the same 2.48%

     

    (PAL) is worse, down 4.94% now

     

    (PLG) is down 2.92%, trending down

     

    (SLW) has now slid downwrd 2.79%

     

    Overall, the trend is not improving, but its also not really getting much worse.

     

    This abrupt reset lower also makes for a strange and unnatural looking chart.
    9 Nov 2010, 03:07 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Anything that moves up that fast can fall even faster!
    9 Nov 2010, 03:27 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6783) | Send Message
     
    I remember in late 1989, I believe, when copper prices went up 60 cents a pound in two months. A penny a pound a day.

     

    Of course, they fell just as fast.

     

    In this case, we're talking about dollars per hour, not day.
    9 Nov 2010, 04:09 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Time to call in support from Asia I think. Just got to work and almost wet my pants. Uuuuuuggggllllyyy.

     

    I believe this is a dollar move as TB noted above. If Europe unwinds this could be devastating for the short term for PM as dollar soars.

     

    Most finger nails on left hand chewed off already.

     

    What a day this is.
    9 Nov 2010, 03:30 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    I am already sending you some of my pain meds. Promise you won't feel that hand within a half hour!!! Morphine does wonders !!!
    9 Nov 2010, 05:21 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    just heard that they raised the margin requirements for gold and silver, this might make sense to the renegades but the talking heads said this is why we see a reversal in silver and gold prices....
    9 Nov 2010, 03:30 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Ace I got hit with that this morning. Sending more fiat. Hoping not to have to liquidate yet but if this keeps up I will have to.

     

    I am wondering "Who" raised the requirement. I was one hour behind the change on my last purchase. I should have taken that as a warning. Did not occure to me I was too blissfully drunk on the rise that was going on.
    9 Nov 2010, 03:45 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    oxycodine mixes well with a chaser !!!!Got those too!!! And you guys do this everyday!!!! I need ulcer meds, or a stiff one. lol
    9 Nov 2010, 05:23 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    OK, signs now that the impact on the foreign producers is fading:

     

    (GPRLF.PK) is approaching flat, now down only about 1%

     

    REE's I have been checking still show strong, while American companies like (MCP) have shed their gains.

     

    Attack on the American PM companies are accelerating, (SLW) now down 5.45%.

     

    Just hit my stop on (PAL), near my stop on (SLW).

     

    SIlver and gold prices on Kitco are pointing straight down, gold is now trading at $1393, silver is at $27.16.

     

    www.kitco.com/charts/l...
    9 Nov 2010, 03:36 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Increased margin requirements must be the cause of the big drops. You suddenly have to de-leverage. And on a day when the dollar strengthened. Maybe that's why dollar's up? Folks having to buy dollars to adjust margin positions?

     

    Makes a self-reinforcing feedback loop?

     

    (DXY) now $77.81.

     

    HardToLove
    9 Nov 2010, 03:39 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    HTL I fear you may be right. If that is the case this will continue as dealers continue to contact thier clients to cough up the cash.

     

    Just peeled off the two last bars bought with pretty good whooping but I do not want to have to be forced to sell with the pack later tomorrow if this continues. It could get a lot worse. Now I am in a position to get back in at a lower price as this plays out.
    9 Nov 2010, 03:56 PM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    Heck, if you can't manipulate the market by using naked shorts, change the rules. Yay for moving the goalposts!!

     

    If I weren't as sure as I was about the coming inflation, this gigantic nose dive would have me worried.
    9 Nov 2010, 03:58 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10664) | Send Message
     
    Wow! What a day! Had a lot of SVM, stopped out, buying back in for almost two bucks below the day's high, and almost a buck a share lower than I stopped out. Also added to PAL.

     

    Shorts have all eight cylindars running today, blue smoke coming out the turbo exhaust pipes. Not going hogwild buying; I feel like I'm dancing with the devil. Hoping tomorrow the shorts keep hammering away. Dry powder ready. Thank heavens I put up some stops earlier today.

     

    Expect short covering to happen toward the bell; tomorrow, too.
    9 Nov 2010, 03:46 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    Ace, the cftc often increases margin requirements in very active markets. That's how they broke the Hunt Brothers.
    It is also how they support the big short sellers ( namely, certain "tbtf" banks.) If the banks ever had to make good on their positions, they couldn't. They have more contracts than materials to back them.
    9 Nov 2010, 03:49 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    You called it, OG.

     

    I was just preparing a comment to that effect:

     

    I've been scrambling the past hour or so. This whole thing caught me out of pocket, trying to handle my daughter getting oral surgery AND keep on top of things, so WHEN does the wall crash in?

     

    LOL, god hates me, I know she does. I have ample proof!

     

    Silver and Gold prices are crashing, no sign of a bottom yet. Silver is back in the low $27 range, gold is back in the $1390's. Charts point straight down...

     

    I think they are correct, this is one of those perfect storm situations...

     

    Ace mentioned the news about increased margin requirements. I seem to recall that these margins used to leverage at 10:1, and they have recently been 15:1 (been that way for quite a while).

     

    Margin calls COULD cause this sort of reaction, assuming traders had to suddenly SELL metal because they had gone long but did not have sufficient funds to meet the new margin ratios.

     

    SIMULTANEOUSLY we got catastrophic news about sovereign debt problems in Euope (again), which triggered a run up in the dollar (and it happened near as I can tell EXACTLY when the news broke about the margin calls), so the two things combined to push down commodity prices in general, but PM prices IN PARTICULAR.

     

    Are these things coincidental with the driving need to bail the 2Big2Fail banksters out of their short positions? ROTFL.

     

    I ahve no idea if this is just going to continue to be a general rout, or just a blip.

     

    Anyway, I expect my SLW stop to trigger any minute, and PAL, and maybe who knows what. I'll be rebuilding tomorrow, though thankfully I have kept tight stops, so I was able to preserve most of my gains.

     

    I won't be bailing right this minute, but IF this crap gets worse tomorrow, I will be.
    9 Nov 2010, 04:00 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    SO WAS THIS DONE TO GIVE THE BANKS AN OUT !!!! sorry for yelling but i am learning this is just as corrupt as our politicians !!!

     

    Skiddish as to when i buy these three back at this point..
    9 Nov 2010, 05:03 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    OG

     

    so can this get worse tomorrow as well. Point of emphesis, if in the future you need my help although i consider myself still new , would be glad to lend a hand if needed. Might need some help setting it up but March is a slow month for me as i am a college softball official and we start in April. That is if this friggen surgery ever lets me back on the field. Car accident , someone ran a red light and wiped me and my wife out. I put off the fusion as long as i could. It is over three years ago i had the FAILED surgery so i am bed ridden on my bad days. Unless i want to eat my pain meds like candy then i don't even need a chest protector behind the plate as a trainwreck would give me no pain. However the anxiety today for a noobie was overwhelming.

     

    But as they say you gotta get back on the bike when you fall off. Just not sure when to start peddling again. Owned SLW, SLV, AND SIL. SHOULD I WAIT A DAY FOR THE SMOKE TO CLEAR, or jump back in tomorrow ???? Advice???
    9 Nov 2010, 06:20 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5257) | Send Message
     
    Author’s reply » Ace - That is a choice we all have to make for ourselves. Some will look at this as a buying opportunity and others will want to wait for the upward momentum to return. My positions were small so I may ride another day (or at least through the morning) before I make the decision. Some of us are willing to day trade and others prefer to hold positions a little longer (most of us like to let the profits run and cut the losses where ever possible). You have to make this sort of decision for yourself. But I find it helps to "listen" to the reasoning of the others in the group before I make up my mind. In the end, though, it is the decision we each face every day.

     

    Make sure you go to the bottom of this QC and link into the next QC #117 as that is where we all are going to be this evening and tomorrow.
    9 Nov 2010, 09:10 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    Gold just bounced HARD off of $1383. Silver did the same off $26.50.

     

    WHATEVER it was appears to be reversing, at least for the moment, I hope.
    9 Nov 2010, 04:04 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    At least with a stock, you can own it; you don't have to sell it, you can weather the ups and downs if that's what you want to do. With commodities, you are at the mercy of the CFTC. They even have margin requirements on options (that absolutely infuriates me, years ago, they didn't.) And of course, you have the time-value decay.
    Gold is now less than 1% below the high. It's not a crash at this point.
    9 Nov 2010, 04:06 PM Reply Like
  • tripleblack
    , contributor
    Comments (13591) | Send Message
     
    WIth pm trading, I include the AH action, which shows a $40 drop for gold, which is what, just over 2% so far?

     

    SIlver was worse, it fell $3, just over 10%.
    9 Nov 2010, 04:20 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    One can only hope the aussies take this as a buying opportunity followed closely by the Asian market.

     

    But they might have margin calls coming when they wake up too!!!

     

    I am rolling on the floor crying, not laughing.
    9 Nov 2010, 04:07 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (TLT): New 100 day intra-day low, $96.19 and new 100 day close low, $96.39.

     

    Possible the PM margin call forced bond holders to dump bonds to raise cash for margin?

     

    HardToLove
    9 Nov 2010, 04:10 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5040) | Send Message
     
    A quick hedge if the pm markets go lower tonight:
    Go long uup or dzz. (not for more than a day or two).Just an idea.
    PNPFF --I'm back in the red!
    9 Nov 2010, 04:19 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11779) | Send Message
     
    I hope you are ok Optionsgirl. Anyway, I'd be happy to cover quick chats if you want. It seems like you have plenty of volunteers. You're so popular.

     

    Oh by the way, those trading with BoA etc. please for the love of America don't bank with any TBTF bank, not like they need your money. They are fat off of the government and Bernanke already. Talk about a magic ATM. They got one. Where's mine?
    10 Nov 2010, 12:24 AM Reply Like
  • Silentz
    , contributor
    Comments (716) | Send Message
     
    Moon: "don't bank with any TBTF bank"

     

    Shameless plug here. Check out your local credit union. No shareholders to keep happy, you actually own part of the credit union you join, and you usually get better rates. Most credit unions these days have ways to let you be a member, so it's not hard to join one. Like mine for example. As long as you live within our footprint, you can join.
    10 Nov 2010, 12:27 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (CPST) A BEAT!

     

    Mostly due to warrants accounting, otherwise, in-line.

     

    www.globenewswire.com/...

     

    HardToLove
    9 Nov 2010, 04:27 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    (CPST): Positive gross margin first time in it's history. Small, but better than many were afraid would happen.

     

    HardToLove
    9 Nov 2010, 04:44 PM Reply Like
  • doubleguns
    , contributor
    Comments (8712) | Send Message
     
    Well I must ask. How much confidence in the market did this inspire in you folks.

     

    Reminds me of nearly another flash crash event.

     

    I feel once again we are duped and manipulated pawns in the big game. Nickles in front of steamrollers as was noted before. Got no nickles today and lost a pinky as it was rolled right over.
    9 Nov 2010, 04:51 PM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    seekingalpha.com/insta...

     

    Please go to Quick Chat 117.

     

    Thanks to Eli for providing guidance on creating a QuickChat host id.
    9 Nov 2010, 05:00 PM Reply Like
  • acehart
    , contributor
    Comments (1813) | Send Message
     
    HELP

     

    Thank god this noobie had been selling some gains along the way , but i have never experienced this crap before. I sold ALL my SLW, SLV, and SIL. My net loss was less than 2k. So what is a person do in this case. Buy back right away tomorrow, or wait until the afternoon to see if more has to be flushed out...

     

    Opinions appreciated !!!!

     

    ACE
    9 Nov 2010, 05:00 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18495) | Send Message
     
    Ace, go here now as noted just ahead of your post.

     

    seekingalpha.com/insta...

     

    HardToLove
    9 Nov 2010, 05:04 PM Reply Like
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