User 58987

3 Comments

    • ON: Tue Aug 12th 01:01 AM
      Commented on:
      Gold (and Gartman) Haunting Some Investors
      Gartman is a trader, he changes constantly his opinion. Sure gold was due to a correction sooner than later. I am still bullish on gold , nothing has really changed. next year fiscal deficit will hit a new record of 590 nillions, current account defcit is still high, banks are almost in bankrupt (1,.5 trillion losses still hidden or 1,5 times us banking net worth), bail out programs everywhere ready to print more money, inflation of two-digits in 50 countries, etc. As long as there is no bottom in housing there cant be in financials, therefore gold is still a hedge.
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    • ON: Wed Aug 6th 12:57 PM
      Commented on:
      What the Fed's Latest Decision Means for Investors
      mining stocks are not so easy to trade like the period 2001-06. Hui index is below may 06 when gold was trading around 650, now two years later with gold around 900, the income statements are really poor and frustrating. teh recent selloff came by as companies started reporting and hui fell from 460 to 360, a really masacre. management has made many errors, issuing to many capital, keeping too long the hedge book, paying absurd prices for competitos and so on. The only companies that fullfilled are barrick and newmont and buenaventura that has beee hit recently because it has copper as a byproduct. To put it in a nutshell, a very if not the most complicated sector, gold has risen in tha period from 660 to 900, and mining shares are below whatever are the reasons, now if you want to see hui at 515 (march 08)you need a gold of 1000, teh same old story but i know that at these prices the sector is a buy but you have to be more studious to choose , not all are winners
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    • ON: Fri Apr 11th 09:24 AM
      Commented on:
      Gold Heads South for the Short Term
      I think you are not aware that clearing houses are the responsible to settle so if the counterparty fails then the exchange house must deliver, thats the reason they are increasing margin calls. IMF sales are discounted by the market, but in th short term gold could go down but there are many factos supporting it. I heard about a dollar rebound since 6 months ago , it wont happen al least if you take into account that us economy is headed down
      View article »
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