John Kaiser discusses the junior resource markets
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The mining sector is certainly beaten down as badly as I have ever seen it. Is this a buying opportunity or is it a fool’s game? Take your pick.
I; however, continue to buy a bit in this sector. Adamera was my latest purchase as I announced a few months back. Now, on Wednesday I am going to buy 50,000 more shares of Canasil. Am I stupid? Take your pick!
At the bottom, won’t the Powers That Be have accomplished their goal? They can print even more money and let inflation run a bit.
Do you guys think once the dollar is backed by bitcoins that other countries will have more faith in our currency again? btw that was my joke for the day 😉
I suppose to me when every reason in the world is given not to buy mining stocks and at the same time every reason in the world is given to be fully invested in the general equity market all I can say is this feels like a strange world we are living in.
and where is the HUI on the chart?
http://www.acting-man.com/blog/media/2013/11/HUI_20131121.png
Gold is going to get hit again, talks with Irans nuke program going well (which is great for the world) but bad if ur invested in gold.
There are new bear market lows in gold, already below the 28 June 2013 when measured in British Pounds, Euros (just, right at the low), Swiff franc (just below it).
Newmont Mining is below its June lows, Goldcorp is nearly at the low and Brrick is fairly well above it (interesting) so it’s still a battle royale between bulls and bears at support basically, as of today (Monday 25 November 2013).
As long as the mining companies are shackled by the finance companies that short their stock just before the financing in order to line their own pockets; as long as the central bankers and governments hate gold and silver; as long as the CEOs and Presidents keep using their ultra-cautious training from the 1970s-2000s; this picture is not going to change. Environmentalists go nuts over cyanide leaching in gold refinement. Smelters steal from miners by claiming the ore was not as pure as directed, skimming off the top. Governments “nationalize” (i.e., steal) mines when they can’t force higher and higher taxes and kickbacks and community service projects and employment schemes upon the miners.
The deck is so stacked against the miners – and now we’re being told to invest in them during the death throes of the USD? We’re not yet at the bottom of the manipulation curve. I don’t have any money to lose on a downward spiral, or downward megaphone. My personal opinion is to wait for the bottom, which will be when The Powers That Be can no longer control commodities around the world with timed fraudulent statements and actions.