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davidshelton

davidshelton
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  • Gold sell-off tied to single trade: Nanex [View news story]
    If I had a dollar for every time the gold market was bombed this year.....
    Oct 11 01:46 PM | 9 Likes Like |Link to Comment
  • Patriot Coal (PCX) confirms an earlier report, announcing it has filed for Chapter 11 bankruptcy protection. The company expects to continue mining operations and customer shipments in ordinary fashion as it goes through reorganization, and has obtained a commitment for $802M in DIP financing. Shares -15% AH after falling 72% in the regular session. (PR)  [View news story]
    Silly me, I thought it was to do with the fracking boom.
    Jul 9 05:30 PM | 9 Likes Like |Link to Comment
  • Silvercorp President Myles Gao's Recent Statement Contradicts The Historical Size Of The Ying Mine [View article]
    Does anyone even take any notice of Alfred Little any more? They've been well exposed for being a sheister short and distort outfit.
    The above looks like a final desperate attempt to mislead shareholders into selling. So, Alfred Little, how many shares are you or your douche bag hedge fund friends short this time?
    I hope justice catches up with you all wherever you are....
    Jul 5 10:33 AM | 8 Likes Like |Link to Comment
  • Is the Japan Crisis Completely Overblown? [View article]
    Obviously the Nuclear crisis is overblown. There´s a lot of sporadic radiation measurements being bandied about by all. Some stats that caught my eye from Wikipedia(in Millisieverts) :
    3-6 mSv/year for Americans average
    Smoking 1.5 packs/day: 13 mSv/year
    3 mSv for a Mammogram
    14 mSv for a Gastrointestinal series X-ray investigation
    Living near a nuclear power station: 0.0001–0.01 mSv/year
    Living near a coal power station: 0.0003 mSv/year
    Highest recorded radiation at reactor 2, Fukushima I: 8 mSv/hr
    Recorded radiation at Fukushima I on March 15–16: 3–10 mSv/hr
    Highest recorded radiation at Fukushima I: 1000 mSv/hr
    Highest recorded radiation at Fukushima I: Reactor No. 3 - 1000 mSv/hr briefly on March 16, 2011
    Highest recorded radiation at Fukushima I: Gate Area - 11 mSv/hr briefly on March 16, 2011
    Typical dose near Chernobyl reactor 4 and its fragments, shortly after explosion: ≈ 10 000–300 000 mSv/hr
    This is clearly no where near a Chernobyl disaster but it sounds like it may get worse before it gets better. Here are some rather more sobering numbers though:
    Lowest clearly carcinogenic level: 100 mSv/year
    Elevated limit for workers during Fukushima emergency: 250 mSv/year
    Effects of exposure to :
    0 – 0.25 Sv (0 - 250 mSv): None
    0.25 – 1 Sv (250 - 1000 mSv): Some people feel nausea and loss of appetite; bone marrow, lymph nodes, spleen damaged.
    1 – 3 Sv (1000 - 3000 mSv): Mild to severe nausea, loss of appetite, infection; more severe bone marrow, lymph node, spleen damage; recovery probable, not assured.
    3 – 6 Sv (3000 - 6000 mSv): Severe nausea, loss of appetite; hemorrhaging, infection, diarrhea, skin peels, sterility; death if untreated.
    6 – 10 Sv (6000 - 10000 mSv): Above symptoms plus central nervous system impairment; death expected.
    Above 10 Sv (10000 mSv): Incapacitation and death.
    While it seems the effect will be minimal to none for nearly all of Japan the workers face the prospects of serious health problems and even death. I hope people don´t have to die to rescue the situation from getting much worse but it sounds like it could come to that.
    Mar 16 04:22 PM | 8 Likes Like |Link to Comment
  • Gold's Double Whammy Is In Play [View article]
    Thanks for your thought provoking article. I take exception with your data point from the lofty World Gold Council about China though. I was of the impression that China has not declared a change in total gold reserves since Q2 2009 when they declared a massive increase in their holdings. There's a slight difference to what you appear to be inferring. China is the largest gold producer in the world and yet apparently a not insignificant net importer of the yellow metal. Who's taking delivery of all that gold? China is never secretive about it's official reporting, now is it.....?
    I can hear the shrieks of the "Gold bugs", you're a brave man, Carlos.....
    Apr 29 10:40 PM | 7 Likes Like |Link to Comment
  • Silvercorp President Myles Gao's Recent Statement Contradicts The Historical Size Of The Ying Mine [View article]
    Riiiiiiiiiiiiiiight! So this whole charade is about someone stumbling in a language that is not his own about something that happened in 2004. You people are truly lame.
    Care to offer a reason why you skulk behind anonymity? or is that to protect the "innocent" on your brave "new mission" announced 12/19/11? I guess you have to try and take wild potshots at Chinese companies so you and your (hedge fund) cronies can reap the rewards at the expense of shareholders like me.
    Your prior campaign against SVM lacked any real credibility and was full of wild unsubstantiated claims and absurdities and now you're grasping at straws. Bring some real dirt on SVM to the table and prove to me that you're not just another group of fraudulent, low-life profiteers.
    Above all else, my profile name is my real name and I stand by what I say unlike you losers.....
    Jul 5 11:38 AM | 6 Likes Like |Link to Comment
  • The debate about whether or not raising taxes on the rich would increase government revenue, is "beside the point," writes John Carney on CNBC. The real reason to hike taxes is to fight inflation, but if and when it exists, the measure possibly wouldn't cure that problem either. "The proposals to raise taxes on the wealthy just don’t add up," Carney writes. [View news story]
    I refuse to believe that freedom has anything to do with senior execs getting such a disproportionate piece of the capitalist pie. This smacks of an elite able to take more from the many in a skewed system that has nothing to do with a true free market. I would substitute the word freedom for corporatocracy. The continual erosion of freedom of the many(eg the 99%) because of (amongst many other reasons)their misguided voting, apathy and the continual maneuvering and scheming of the moneyed interests(eg cabal of execs, banksters etc) to regulate the free market to death to there advantage, to rig the "game" even further. This has had the net effect of only reinforcing this corporatocracy. One can only hope that this vicious cycle is broken in my lifetime and a system reset restores some greater measure of freedom to the world.....
    Aug 26 05:06 PM | 5 Likes Like |Link to Comment
  • CME announces a 21.4% margin increase for Nymex gasoline futures, the second such move this week. The money required to trade a gasoline futures contract jumps to $11,475 from $9,450 per contract, while maintenance margin requirements rise to $8,500 from $7,000. Gasoline futures -7.6% today.  [View news story]
    Keep'em coming!!
    May 11 05:01 PM | 5 Likes Like |Link to Comment
  • Yellen: QE could end this fall; rate hikes maybe 6 months later [View news story]
    If there was ever any doubt about the direction of QE......
    Meanwhile the patient begins to twitch nervously as Dr. Yellen finishes administering some bad news about the removal of his monthly financial heroin.
    Mar 19 03:30 PM | 4 Likes Like |Link to Comment
  • Dollar Bills On Sale For 15 Cents: Ram Power Corp. [View article]
    @Author - Nice job on this article!
    As a long term holder of this stock and a resident in Nicaragua, I do appreciate the interest it has generated and would like to add a few comments of my own.
    Firstly the political situation shouldn't be misconstrued as being a carbon copy of Venezuela. Nicaragua has had to be more open to FDI out of necessity(no oil(yet - http://bit.ly/15fdtVo)!) though the government(and Venezuela) are a big part of the local energy matrix(do a google search on Albanisa Nicaragua or http://bit.ly/11Co3c8 or http://bit.ly/11Co4wK). Like the author I also believe that this country is very open to foreign investment and the numbers speak for themselves as stated above(http://bit.ly/11Co4wM). However recent developments with the announcement of the canal project have raised the specter of past problems(see http://bit.ly/11Co3ci and elnuevodiario.com.ni, laprensa.com.ni).
    Above all Nicaragua is not going to meet its renewable energy goals without the incentives in place to bring in foreign investment and expertise. The Sandinistas have been a lot smarter and capable on many levels to their "liberal" predecessors and have had the long term vision to welcome big projects to this country. Roads are being built/repaired all over the country, rural electrification is ongoing, airports etc after years of post war shambles and neglect. One of the first things the Sandinistas resolved was the daily rolling blackouts due the poor state of the electrical grid and power generation capacity and things have gradually improved since then. Nicaragua is well on its way to produce 50% net of its power from Renewables(http://bit.ly/11Co4wT) for this year!
    My real concern is the debt this company has racked up due to the cost over-runs, failed execution and technical problems(eg well remediation currently underway to bring project up to 72mWh). They've kept on taking on more debt and risk. I think they can still pull it off but I fear it won't take much to push the company to have to "mail the keys" to the creditors. Despite all this I am happy to hold for now as I also see the potential upside out weighing the downside many times over.
    Jul 10 11:58 AM | 4 Likes Like |Link to Comment
  • Gold's Technical Picture Is Broken; Collapse Coming [View article]
    Well researched article and I agree there are worrying signs coming from GLD and even GDX but if the violation of the 300 day moving average is the end of the bull market then why is now any different to 2008? Yes, gold and gold miners sold off but look what happened in the ensuing 3 years. Fundamentally the picture has only got better as far as I can see especially when viewed in a historical context. If gold reaches any lower major supports, I'll be buying more.
    Jun 25 11:57 AM | 4 Likes Like |Link to Comment
  • Applying Game Theory to the Debt Standoff [View article]
    In other words: It is more advantageous longterm for the Republicans to reach a compromise now than be forced to make such a decision when they can be seen as solely responsible for the pain that follows. The democrats never lifted a finger when they held the reins of power - perhaps they were waiting to lose the majority power. It´s still a game of chicken now though....
    Jul 27 03:17 PM | 4 Likes Like |Link to Comment
  • Should Investors Continue to Buy Gold? [View article]
    Not to defend gold per se but in the event of the drug addict ODing on funny money I think there´ll still be plenty of purchasing power left in the world to park what´s left in "real stuff". Gold comes under the category of "real stuff" amongst a lot of other assets. Perhaps being the most famous of these things it may also be the most popular engendering a relative rise in its value. I personally believe it to be just one of many options to guard one´s portfolio against currency devaluation.
    I may be viewing things too simply and I am really only a novice but if the addict OD`s then what do you think happens to his currency under the massive weight of all that debt monetisation? and therefore the value of "real stuff"? Where would you put your money then?
    With the other scenario the funny money rug is pulled out from under the stock market and the bond market. A collapse. Mass liquidation and margin calls would hammer gold et al again. However there´s now no more debt monetisation - no more kicking the can down the road. GDP might fall faster than the debt can be paid down. Who´s going to sustain and buy that debt now? A deflationary death spiral with only one possible outcome. So again what what do you think happens to the addict's currency in the end? and therefore the value of "real stuff"? What can central bankers really do to prevent this?
    So to me there is only one solution to this unsustainable mountain of debt in the end but two different ways of getting there(as you correctly pointed out) and that is currency devaluation. We can do it through rampant inflation or via a deflationary collapse. I wish I knew how long we have before the proverbial hits the fan. All I know is once the system resets completely there`ll be many opportunities out there for the world to grow and prosper again. There is quite the historic precedent to all this and I don´t see any reason to believe it is really any different this time around.
    Feb 4 12:07 AM | 4 Likes Like |Link to Comment
  • Special Edition On Gold: What Are Long-Term Investors To Do? [View article]
    hey Avi - thanks for writing my favourite articles with your clear targets and scenarios. Always a must read before the trading week kicks off on Monday. It's uncanny how accurate your price targets/levels are. The haters, wackjobs and those with ulterior motives are going to hate. They may be numerous but I bet they are just a small minority amongst your happy followers. Let them stew and don't honour their shrill rantings with much to feed their antagonistic natures.
    Keep writing and proving them wrong!
    Nice interview on Kitco BTW.
    Aug 1 01:22 PM | 3 Likes Like |Link to Comment
  • Hindenburg Omen Issues Biggest Cluster In Years - Let's See What Happens Next! [View instapost]
    Thanks AR - I'm a fan of the "Stagflation theory" but I note we are closer to deflation than outright inflation. I need to re-read your post a bit and prior articles.
    However, I am concerned by the recent sharp rise in rates also.
    Aug 19 07:08 PM | 3 Likes Like |Link to Comment
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310 Comments
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