Thursday’s Market Wrap and Thoughts
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The dollar continues its climb and gold continues its drop. Haven’t we seen this before?
Cory,
You are improving leaps and bounds! Very good technical analysis. I agree with you about oil. It should start heading south again.
I’m a little dissappointed at the depth of the gold price correction on the weekly chart, which appears to want to test the 89-week EMA. YOU would expect a 50% retracement to finish the first upleg, but I was thinking that the bounce woukd be just below the 34-week EMA. On the other hand, for all intensive purposes, the gold price correction may have been entirely and neatly accomplished in short order.
For the most part, I think the correction makes an abstract line very solid when discerning where the breakout will occur.
He best Bob Hoye in a while:
Chartster, how would you know if he is improving?
Your technicals called for $500 gold.
Go back to sleep
James,
All you are is a Monday morning quarterback whiner.
Go ahead, give silver an F ” after ” it goes down..
I get surprised at the variances (I assume due to supply-demand randomness) in mining stocks close to a turning point. I have never been able to find a mathematical correlation, even on high volume stocks, which gives price change percentages versus cash flow or P/E ratios, or teas or time-weighted alphas. When in a steady price-rising or or price-falling market the time-weighted alpha gives a reasonable correlation, but during corrections or inflections, the correlation totally breaks down.
Thanks, Ex, for your list of deltas on price earlier today……I used it to try and find correlations, but got nowhere. I assume the volumes are just not sufficiently high to produce good statistics, or perhaps, advice on specific stock by newsletters or brokers outweighs mathematic analysis based on fundamentals in the short term. (And price changes over a day or few days must be considered short term)
There are some really interesting volume changes that have happened in specific energy and pharma stocks recently, possibly indicating sector rotation into energy and health related stocks happening now.
This happening while rotations are being made out of banking and insurance sectors.
My stupid iPad incorrected betas to teas, because it’s a dumb iPad and I did not spot the change.
Great post…..A lot of info. SDR in the basket,commodity out look, and another twist for higher commodity prices.
http://www.gata.org/node/11373
Rickards says gold price held low by central banks to allow China accumulation.
Chartster, if you knew anything you would know I have been giving silver an “F” for several years now. If people listened to me they would have saved themselves a lot of money.
If people listened to you and bet on gold going to $500 they would have lost a lot of money.
Yeah, if you would have listen to me talking about ZSL and DULL, it would have treated you a bit better than NUGT…😉
NUGT treated me terrible. But really it was not NUGT that went wrong, it was my decisons.
I was up 40k in a few short weeks and now I am down 30k.
This is why gold and silver are not really investments but trades.
They can change on a dime, for no reason.
The race is not over though
Gold was ready to bust through $1400 and they crushed it.
Tomorrow’s NFP will be huge.
I am going back to sleep
Hillary blames hurricanes on climate change, I wonder what she would have blamed for the hurricane that took out Florida in 1926. You know the soothing Tropic Wind that destroyed the remnants of The Florida Boom. DT
Politics….Liar Obama knew about Hilly’s email server, but said he didn’t. ZEROHEDGE
Additionally, Obama actually conspired to cover up the facts
Obamahilly Gate
Someone get the NFP report number early!
As usual gold gets dumped 5 minutes before release
If they cook it this could be a huge number … above 200k and the fed and Obama take their victory lap…
The ADP number, which has been a good indicator lately was spot on.
A perfect number
Everyone is happy
Bring out the dogs…Loretta Mester first out of the gate to tell us it is a very good number, the economy is on the right path, we could raise, but we might want to see more data, the data has been good, we could raise, we might raise, we are ready to raise, but we won’t raise, but then again maybe we will, we can if we need too, but don’t so we won’t, but we could…
James,
Don’t concern yourself with the BS. You yourself said they were a bunch of fools.
Watch rates. 2s, 5s, 10s, 30s. What do you see today?
5s down 1.7%, 30s down .25%…..Hmm?
“Solid” says Mester. Perfect word. Solid. Everything is solid.
Gradual path. How gradual? Very close. Forward looking.
All meetings are on the table.
Blah blah blah
Revise August up, give us a “solid” September number…this is the perfect combination of results to signal the markets the economy is good, but we still can wait on rate hikes, but we don’t have to, but we will, but everything is solid.
CureDuchenne to Host SareptAssist Webinar on October 11 to Provide an Overview of Sarepta ’s Patient Support Program for Duchenne Families
2016-10-06 12:08 ET – News Release
Company Website: http://www.cureduchenne.org
NEWPORT BEACH, Calif. — (Business news.)
Golden Reign drills 3 m of 38.38 g/t Au at San Albino
2016-10-06 09:17 ET – News Release
Mr. Kevin Bullock reports
DRILLING RETURNS 3.0 METRES OF 38.38 G/T GOLD & 43.6 G/T SILVER AT WEST PIT OF SAN ALBINO GOLD DEPOSIT (Nicaragua)
Osisko Mining, Osisko Gold finalize earn-in agreement
2016-10-05 09:37 ET – News Release
See News Release (C-OSK) Osisko Mining Inc
Mr. John Burzynski of Osisko Mining reports
OSISKO MINING CLOSES EXPLORATION EARN-IN AGREEMENT
on 28 properties in James Bay region of Canada.
Colorado Resources drills 64 m of 2.63 g/t Au at KSP
2016-10-05 16:13 ET – News Release
Mr. Adam Travis reports
COLORADO DRILLS 64 METRES OF 2.63 G/T AU AND OUTLINES SEVERAL NEW HIGH GRADE TRENDS WITH GREATER THAN 1 OZ/T GOLD INTERCEPTS AT KSP PROJECT.
Gold leads…bonds bleed…highest unemployment rate since April….zh
Rate hike odds. 17%
I wish to make it clear that while I post articles from supposed experts, I do not necessary agree with them.
I personally believe the recent increase in oil price had NOTHING to do with any Middle East production agreement, or non-agreement.
But, it had to do with inventory draw-downs due to shut downs in production because of hurricane Matthew in/near the gulf, combined with dollar weakness.
We have a BoA expert predicting a 49% rise (so precise he could not call it 50%) and just a couple of weeks ago another so-called expert (linearly extrapolating) declared oil prices would be flat.
http://etfdailynews.com/2016/08/28/heres-why-oil-is-a-dead-trade-for-the-next-several-months/
These “experts” are clearly paid to write, not to be correct.
There is going to be an inventory build over the next few months, which may result in lower prices or flat prices, but….
1. That assumes we will not have a colder winter than normal.
That assumes war does not break out.
That assumes the dollar does not collapse.
There are many variables/assumptions that go into predictions.
(and I’m assuming a general slow down in the world economy)
IMF is out with report of global slowdown….zerohedge
WARNING: Could be considered a tout.
Currently Silver Wheaton is still one of my bigger holdings.
Deuschebank recently increased their projected target price.
(I question DB’s quality of analysis, so I wonder if I’m wrong!)
This is another top company that many on Wall Street favor. Silver Wheaton Corp. (NYSE: SLW) is the largest pure precious metals streaming company in the world. Based on its current agreements, forecast 2015 estimated annual attributable production is approximately 44.5 million silver equivalent ounces, including 230,000 ounces of gold. By 2019, estimated annual attributable production is anticipated to increase significantly to approximately 55 million silver equivalent ounces, including 325,000 ounces of gold.
This anticipated growth is expected to be driven by the Silver Wheaton’s portfolio of low-cost and long-life assets, including precious metal and gold streams on Vale’s Salobo mine and Hudbay’s Constancia project.
Silver Wheaton has 18 long-term purchase agreements and one early deposit long-term purchase agreement associated with silver and gold relating to 27 various mining assets. It has silver and gold interests primarily in the San Dimas, Zinkgruvan, Yauliyacu, Stratoni, Los Filos, Peñasquito, Keno Hill, Neves-Corvo, Cozamin, Minto, Barrick, Aljustrel, 777, Salobo and Sudbury mines, as well as the Rosemont, Loma de La Plata, Constancia and Toroparu projects.
Silver Wheaton shareholders are paid a 0.8% dividend. The $37 Deutsche Bank price target compares with the consensus target of $33.55. The shares closed Tuesday at $23.56, also down more than 10%.
Funny CFS! I love the WARNING.
It appears I’ll have to start putting Warning labels on my posts as well. 🙂
CYA
See ya
?
C=see
C YA
MIC (Cya real soon) – KEY (Y because we like you) – M.O.U.S.E.
Bu-Bye….
SprottGobal latest:
http://www.sprottglobal.com/thoughts/articles/gold-insights/
As a result of new resource estimates back in late September a number of analysts have upgraded their ratings on Avino silver.
Of the major 26 silver miners, ASM is now rated #1 out of 26.
(I own some ASM shares)
Despite having an actual P/E rating of 50, and a dividend of 4%, Mandalay has drop out of its top ranking.
(I own some MND shares.)
+1 Avino!!!
This is the kind of action I’ve been looking for. Gold and the mining ETFs are down while my risky juniors are up very nicely (IPT is +10.77% at the moment).
Today might mark the low while most are looking for much lower prices. If not, I think gold will have huge support at 1200.
Impact !!!
IPT ranks 13 out of 63 mining misc category.
In case you are wondering, Ex, #2 in silver miners is GPL.
TAHO is #4
SLW is #6
I’m still searching for #3 and I’ve run out of potential candidates! BVN IS 8, MAG is 9, FSM is 10…..PAAS, SSRI, EXK, HL, AG way down in ratings.
Interesting. Do you have link to that info?
There’s a lot of “apples and oranges” on that list. I don’t know how those rankings are determined but I don’t think they mean much from my standpoint.
IPT has performed far better than GPL and most others of any size this year and I expect that to continue. Of course, our objectives and risk tolerances vary.
Good point Matthew. It sounds like what CFS is referring to is how “Professional” analysts rank the silver companies. They repeatedly blow it and miss opportunities all the time, or over-value larger more established companies because of their stability.
Personally, I’d rather look for the companies that may appreciate the most on a percentage basis.
No, I have to chase each stock and it ranking out individually.
I wish there was a table by ranking. It would be a lot easier.
And some stocks don’t have significant US OR Canadian presence. E.g. Penoles, which ranks 20 out of 60 odd in general Mining. Still looking, but I’ve gone through most silver and gold names I know.
How do you know how they rank relative to one another then?
Is it based on the number of analysts following a company, or the number that have buy ratings?
Professional analysts typically work for brokerages or banks. They are paid for their analysis, not writing newsletters or the like.
Rating agencies, e.g. Moody’s, S&P, Zacks, etc take these ratings.
Typically in 5 categories: strong buy, buy, hold, sell, strong sell.
Some take the average of all registered analysts for a given stock by averaging numerically.
e.g. Suppose a stock is followed by 10 registered analysts and 5 rate it a strong buy, 3 rate it a buy, and 2 a hold.
The averaging is done:
5 X 1, plus 3X2, plus 2 X 3. All divided by 10 = 1.7
This is compared then with equivalent stocks. By averaging over all ratings numerically, it does not matter exactly how many analysts there are for a stock, although agencies do not list a ranking for stocks followed by less than 3 analysts.
If you’ve ever attended annual results meetings, the analysts are usually those guys with seat allocations up front, asking questions.
Understood. I’ll stick with comments I mentioned above and below in this tread as it relates to “Professional investors”.
That should have said “Professional” analysts.
I’ve mentioned in the past how I’ve been on countless conference calls where these “paid experts” ask goofball questions, weren’t paying attention to the presentation, were way off in their growth assumptions, were way off in evaluating the capex needed or future capital raises, and don’t have a clue how to value most companies exploration upside, drill results, acquisition status, or how changes to their mines will affect profitability over several quarters based on work being done today. They play the insane game of the hit the guidance, (which they raise and lower at will because they are often so off-track).
If they really take the time to dig into the actual fundamental back drop of the company and ALL their projects, growth profile, can properly take into account the real risks to the company (environmental, jurisdicition, tax issues, currency fluctuations, the additional stocks and securities a given company may hold in other companies, and the value or negative value of a current management team) then I give their analysis more weighting. I find that many of the editorials and newsletter writers actually do a better job in many of these areas, and that is why I’ve posted those kinds of pieces in the past.
Mat, seriously, why did you argue and fight so much when Bird said we were looking at 1200 gold?
Well, we will see of course but its possible to go below 1200.
Just funny how much you and so many others “squirmed” when Bird told you guys weeks ahead of the drop and now your saying there is support at 1200,……. didnt you mention there was huge support above 12 many times?
Being honust, Docs “nibbling” was not the best way to invest, the best way was get the heck out and stay out until the falling knife hit ground.
Well, ya coulda bought pot shares and made a few 100% I guess but completely out was the safe way.
Just funny how much you guys complained and said how crazy etc he was and now you support what he said.
Just funny thats all.
And he could very well be right about gold going “to the moon” should the euro collapse. That really could be the cat ee list. we will see.
o, by the way, pot might actually be able to cure cancer, according to jim mars who you may call nuts of course but think what pots worth when that news goes mainstream.
Just saying as natcore/theralase are promoted here.
B, it has been lost on you since day one what the problem with Birdman is. The guy couldn’t post an opinion without knocking the hell out of someone else, usually me. Worse, he would put words in my mouth to deliberately change the meaning of my comments. You sometimes do that too, btw, but probably not on purpose.
Birdman also WAAAY overstated the accuracy of his past calls. He was always bearish as hell at very important lows and he threw darts randomly in between. Remember his DUST call? So it’s hard to see value in any of his calls when so many were so bad.
But I digress.
Again, THE problem with him had nothing to do with his calls. He did not care one bit about making truthful statements, either about others or himself. In short, he lied and attacked to knock people down in a failed effort to make himself look good.
Well stated Matthew.
Anyway, didn’t he declare he had suddenly become a gold bull right before the correction?
yup Ex, it had to do with the euro falling.
Oh I remember the megaphone madness (trying to forget it actually).
The point was he wasn’t calling for gold to go to 1200, he had gone bullish at exactly the wrong time (again). He went vocally bearish on his buy DUST campaign during the biggest upsurge in Gold mining stocks that we’ve seen in 5 years.
I’d hardly call that anything to celebrate.
I agree 100% with,
how “Professional” analysts rank the silver(and other companies) companies. They repeatedly blow it and miss opportunities all the time, or over-value larger more established companies because of their stability.
Personally, I’d rather look for the companies that may appreciate the most on a percentage basis.
Exactly, Pete. I want to buy value before it is widely recognized. Those who buy based on the usual metrics are paying up for value that is already well understood. I also avoid the hot “story” stocks. For example, I’ll take Jaguar Mining over Brazil Resources any day and Impact Silver over First Majestic.
+2 “I’ll take Jaguar Mining over Brazil Resources any day and Impact Silver over First Majestic.”
Yeup.
This might not be popular, but I also have to say that Admir Adnani strikes me as more of a slick promoter, not a confidence-inspiring mining guy – Rule-Casey-Katusa endorsements notwithstanding.
Well as you know I own both Jaguar (and have been writing about it on here since 2015 as one of the better turn-around stories in the Small Gold producers category), and I don’t own and have never owned any Brazil Resources.
As for Amir Adnani – I think he is incredibly sharp, yes he’s a big promoter, but I am much more interested in his other company Uranium Energy Corp (UEC). That’s the company that should do well when the Uranium bear is over.
As for Impact Silver – it is actually the most pure Silver producer (89% silver) than First Majestic. {it was you that pointed that out to me so thanks} I’ve only been a shareholder since positioning during this pullback, but I’m already in the profit zone.
I respect Keith Neumeyer a great deal, and like First Majestic, and have owned it in the past, and it had a great run this year as well. However, I expect to continue to have out-performance from the smaller gold & silver producers – Impact being part of that plan.
My sentence editing didn’t work out like I planned it on that post.
I own both Jaguar and Impact was my original statement, and then it evolved from there.
Matthew – I’m always jazzed when we’re on the same page.
BRI is just expensive for what it is in my book. JAG is just the opposite.
I was referring to my comments about Professional analysts continually blowing it and that I’d rather look for the companies that may appreciate the most on a percentage basis.
When Pete agreed and you said “Exactly” and “I want to buy value before it is widely recognized. Those who buy based on the usual metrics are paying up for value that is already well understood.”
I agree with your comments there, and that is what I was pointing out up above with CFS and down below with Pete. You’re just more concise than I am 🙂
Oh, I see. Thanks for clarifying. Cheers!
However since you brought it up I concur that Brazil resources has been over-valued and Jaguar is still very undervalued compared to other producers in their peer group.
From an investment appeal standpoint, JAG is a Benz and BRI is a Kia. $300M is a lot for what is and at this stage of the new bull market. Conversely, $120M is nothing for JAG’s 90,000+ ounces of production and lots of exploration potential.
Unlike BRI, JAG has Proven and Probable reserves , higher grades, and cash flow — lots of cash flow for the price.
Absolutely. I’m in 100% agreement. Again, I’ve been saying since last year that this stock needs a major re-rating and was thrown out with the bathwater and forgotten.
I posted a blurb about Jaguar on Friday (today’s) Rick Ackerman that I had just sent over to another poster on CEO earlier in the week. It’s a nice encapsulation of the JAG Story….. 🙂
I bought my first shares of JAG in 2010 and won big then lost big in late 2011/2012. It left a mark on me as one of the few stocks I got burn on holding into the selloff in 2011-2012. After that I watched it sink into oblivion, then go into credit protection, and I waited….and waited….. and waited…. for it come out and was so glad they kept all their assets.
At that point I wanted to see what kind of reaction there was…..and there wasn’t any….. I just flat-lined. I started adding in a little here and there, but didn’t get serious about the position until the end of 2015 and Jan-Feb of this year. I’m about as bullish as one can be on JAG and was have been sounding the trumpets for quite some time on this company.
Luckily, I avoided JAG until this year. Thanks for talking about it because that’s why I took another look at it.
It now has a very bright future.
Timbuk 3 – The Future’s So Bright….
Good Points,Matthew
Thanks Pete. There are many times where the “Editorials” are far more on track than the “Professional Analysts”.
Analysts are largely herd animals with a narrow range of analysis, and they mostly flock together using rigid metrics of market cap, PE ratios, book value, enterprise value etc. to size up a company. As a result, they completely miss the projections of how a company’s margins may improve exponentially on rising metals prices, or news flow that indicates a potential merger in the works, or the value to a companies drill results and discoveries (in fact analysts almost never put any value to exploration upside…. but the market does), or how the market will value hitting different permitting milestones, development milestones, or production increases.
That’s what happens when you get a flock of eggheads that only look at numbers on a spreadsheet and are not tuned in to the real fundamental changes within the company. Then they are late to the party and suddenly adjust their forecasts up when a company “surprises to the upside.” What a freaking circus….
There is more to properly valuing where a companies share price may be headed than just the number on their financial reports, and with mining, there are so many other variables (permitting, environmental challenges, changes to their underlying commodity basket, understanding the drilling success or failure, sizing up a deposit correctly, understanding the mining slopes in the mine and when they may high-grade sections, and when they may mix in stockpiled feed ore that reduces grade, etc… This kind of information escapes the bean counters.
Very true,Excelsior
“I think”
I Think Therefore I Am – Rene Descartes
how’s that pitchfork support working out?
James,
Go look at Mattews chart on Docs thread. He has it hitting the 1230s. And I think he’s right. Same place I’m looking for the cycle low.
Quite well, thanks. You should try thinking, too. It could save you from another NUGT incident. 😉
NUGT incident
Good one.
TriMetals Mining Inc. Establishes 400 metre Segment of near surface Thor Vein System within the Gold Springs Project
by TriMetals Mining Inc. | Oct 6, 2016 | 2016 |
October 6, 2016, Vancouver, British Columbia—TriMetals Mining Inc. (TSX: TMI and TMI.B, US OTCQX: TMIAF and TMIBF), (the “Company”), is pleased to announce results from the next 7 holes in the ongoing 40 plus hole drill program at Gold Springs within Nevada and Utah. Drilling this year is focused on both the continued expansion of the “bulk tonnage” heap-leachable resource on the 8 kilometre Jumbo Trend including the southern extension at the Etna target, and the search for high grade (2-3 g/t gold) vein material in the Thor Vein System which is highlighted by a 1.6 kilometre long geophysical anomaly and numerous surface vein exposures.
Trine talks need a better headline writer!
Their best hole was:
16-001 width 7.6 m. Au 44.774 g/t Ag 58.3 g/t
Sending their Investor Relations team your resume’ now. Standby…..
My iPad incorrected Trimetals into “trine talks”
Let’s start up a site where you get paid by the column inch called “Trine Talks”.
It will be the Talk of the Trine…..
We can double our readership base by including a special section covering the 70-80 marketing fluff Lithium stories and call it “Brine Talks”
Trine Talks now includes complementary Brine Talks newsletter = Twice the Froth!!!
Just get a new I phone,..I am ,therefore I think OOTB 🙂 or just Descartes it
There is still time for your Presidential campaign:
“Think OOTB”
I was thinking of having Owl as VP, but he keeps flying off…….Bird would have made a great VP, I could have kept him in a cage,and had him go after Hilly on all the debates.
Bird a great VP ? How about Department of Sanitation…..
VP = Viscous Poo 😉
Good one 🙂
I forgot about Mr. Hankey! 😮
Hiddy Ho!
Ha! Ridiculous. I love it.
B good point, when bird said it it was nonsense, when it happens, Matthew saw it all along.
Priceless
I made a fortune this year, James. While those of you who haven’t done your homework did nothing but worry, I told you what was coming way in advance and told you what I was doing – buying weakness. Your problem is that you have zero conviction so there was no way you could take a big picture strategy 12 to 18 months ago. I did just that and said so while getting attacked for it by a bunch of people who probably had/have very little at stake.
Several people no longer post here because they got it so wrong, but I won’t name them.
I have many millions of shares in the miners right now and am not at all stressing about it.
Like Birdman, you’d obviously rather deal with words than number – you’re an artsy fart not an analyst.
you made money Mat, excellent, so did alot of people.
That far from makes anyone heroic/special.
Just means we followed the market.
oh, you gotta be a Billionare, millions of shares on the market is NUTS as far as Im concerened.
Way too risky. The market is way too crooked, not to mention the brokers and miners themselves.
But some people have enough that millions mean nuthin.
Just one thing, how does a billionare with millions of shares have time for an entertainment blog?
B, I don’t know what you call “a lot of people” but the majority did not make much money. That’s not how big turns work. In addition, I trounced the average performance of the sector AND I did so with large bets. If you only had a small stake when the sector took off, you really weren’t that “right” in my book. In fact, that would feel a little like losing, to me. I doubt that Birdman invested a single cent.
I like how betting big getting it right is conveniently nuts to you not “heroic.” It takes all kinds… 🙂
Told ya before Mat, I made over 2000% The amount is meaningless, its all relitive.
I might think $5 is big and Rogers doesnt see big till it hits 5 million.
Gates doesnt see big until 5 billion and the US government doesnt think 5 trillion is big.
Its all relitive Mat
You, seem to be twisting, Im saying you gotta be a billionare(multi) if your willing to risk millions on the market, no way I have more than I can lose without flinching.
I would think you are that astute as well so you gotta be a multi billionare, I just wonder why a multi billionare would bother with penny mining shares.
Space travel I can see, but penny shares?
Oh, you trounced the average, big deal, so did I, but I dont brag about it, Im not tryin to make myself out to be other than I am.
Are you not wishing you bought pot shares? I mean just until its time to get back into PMs.
Much better than cash no? Wouldnt that count as “trouncing” the average?
No need I guess, being a billionare and all.
oh, one more thing just for giggles, I made over 2000% and never used a chart, I also trounced the average with potshares and never used a chart.
Just funny.
B, I trounced the average with a portfolio of 12 to 15 miners at any given time. That’s what makes it noteworthy. Good for you if you did as well.
I also bet a significant amount of money. Did you? Or was that 2000% on a $3,000 investment? Like I said earlier, to get it right but bet too little is almost like being wrong in my book.
Your not reading the posts again.
Or twisting them.
Doesnt matter.
You used 12-15 miners and that makes it note worthy? why? because you used so many?
I bought one, just one, I knew I was right, sat tight and…..there ya go.
Same as my potshare, just the right one.
Thats all thats needed.
Why spend so much time researching when there is no need?
The amount you made is relitive, it dont matter Mat.
Let me explain something, you can NEVER make the perfect bet, even when EVERYTHING goes right……..ya didnt bet enuff.
You didnt answer me, how come a billionare has time for this entertainment site?
If your para or quad I understand and you have my sympathy, otherwise, go live life cousin.
Oh, alot of people? more than just you and I.
Geez, ex musta made oddles, so many lists he has to know everything about every miner in existance, how could he not know the best one to buy?
Probly took the evylin wood speed reading course.
oh, and had I only bet 3k for a 2000% win thats 60k Mat.
I know to billionares 60k is pocket change, but to me its at least a steak and lobster meal. lol
It better be a damn good steak and lobster for a plate that cost $60K.
Mat is talking like its peanuts.
He still hasnt answered why a billionare is playing with penny shares.
B, you are missing my point completely. If you know what the heck you are doing when doing your due diligence, then betting an amount that is very small for you tells me that you had no confidence in your little company to begin with and are really just gambling on it.
But this is B we’re talking about so I think it is much more likely that you do not have confidence in your own analysis of a miner’s prospects and risks so it makes perfect sense that you can’t fathom betting more – and you shouldn’t.
Just don’t tell me that the guy who bets small and wins is as noteworthy as the guy who goes big and wins. The two are likely in different leagues when it comes to their understanding of the markets they’re playing in and probably the markets in general.
As for your last silly question, why don’y you ask Eric Sprott or Robert Friedland?
Bird is right about you Mat.
Sprott is meaningless, like Rogers billionares own everything, he only tells you of his wins, but be honust, how much has he lost on metals in the last 5 years?
plus a storage fee. lol
You insist on not comprehending it is all relative.
The amounts mean diddly.
But as you ponder, how on earth could I have put 100% in my 1/2 cent pick? hmmmm
That is if I am just gambling. Which you are if your in the market with absolutely anything.
And how could I put 50% on my potshare? lol (nope, I wasnt as sure)
Maybe you are the one without confidence as you spread your bets around, lucky you didnt go all in on cgi was it? ggi? whatever it was, it did nothing.
If your as good as you pretend to be why didnt you go all in on one of the 800% winners you claimed? simple, you were not sure, you didnt know.
ahhhh, you got lucky.
I told everyone, at the time, buy the kitco list, easy, the whole list and your a winner, no brains required.
hmmm, seems I was right no?
Its not as hard as you try to make it out to be, no matter what you bet.
And placing a bet is exactly what your doing. nothing more no matter how you kid yourself.
At least I know Im gambling. oopps, sorry, lets be “profesional” speculating. lol
Your love affair with that dirtballl is very telling, B (as if your own actions aren’t, lol).
You asked the DUMB question: “Just one thing, how does a billionare with millions of shares have time for an entertainment blog?”
And I suggested that you ask a billionaire. What confuses you about that logical response?
As for this dumbass question: “If your as good as you pretend to be why didnt you go all in on one of the 800% winners you claimed?”
Don’t you think diversification makes even more sense for the guy who’s betting big? There are plenty of issues that COULD arise that NO due diligence could see coming. You know, like “B”-style lefty government taking from investors what isn’t theirs, to name one.
Still, you’ll be very impressed to know (if you’re smart) that 60% of my portfolio was in my top three performers BEFORE they went up 1,000%+. How do you think I was able to do so well with 12 to 15 companies? So my due diligence is just fine.
And yes, genius, I place bets, why do you think I used that term repeatedly. The difference between you and me is our understanding of the risks we are taking. We both know that it would be very dangerous for you to go big. But hey, you don’t even need charts, LOL, lol, lol, etc. 🙂
Best book ever written, “buy what nobody wants”, nutin to do with charts Mat.
Same with Rogers Faber Price and more than likely anyone else that understands markets. Noooooo charts required.
Does it bother you I was smarter than you by going with pot shares instead of cash?
Think about this Mat, your 3k bet, 2000% is 60k, 50% of 60k….30k x 3.5 = 105k
Thats 135k on a 3k bet Mat, none too shabby where I am from, but I guess thats not big for you.
You seem to think big is you bet big for small %s, as I said multiple times, Im after home runs, thats small bets (low risk) big payoffs.
You…explained the benifit of 2%ers, lol
Shoulda bought pot Mat. lol
Pot will get you thru times of no money better than money will get you thru times of no pot.
It was a clue Mat.
Mat, really, I dont know you, I could care less if you win or lose.
Im not impressed with your charts or what you say you win.
Its entertainment, nothing more, but then Im a gambler, never claimed to be anything else. If there was a decent card game around I would drop this boredom yesterday.
All the best to you.
“Why spend so much time researching when there is no need?” lol, indeed.
“but then Im a gambler, never claimed to be anything else. If there was a decent card game around I would drop this boredom yesterday.”
So, with that attitude, why would anyone want to hear what you have to say? Other than entertainment purposes, of course.
B, you’re just like your Birdman with your assumptions. How do you know I went to cash? Answer: You don’t (and I didn’t).
If you, B, are smarter than me, then I am very happy to be stupid. Honustly 😉
I would like to thank all the seals that jumped in first
Do you ever notice the karate places that teach kids karate?
Ever notice all the trophies in the window?