WOW! Bargain sale time is here!
Gold at 667.50 and may go even lower. The end of summer sale time is here! I will be adding to my mining stocks holdings before the expected fall/winter rally.
Here are some of the stock prices. AGXM 1.42; CDY 1.85; CEF 9.34; DROOD 6.53 (I bought some at 6.95); EGO 4.539; GFI 4.54; GSS 3.75; HMY 13.99; IAG 8.37; KGC 13.42; KRY 3.52; MRB 4.64; NEM 42.30; NTO 5.60; PAAS 28.39; RNO 5.23; SSRI 35.44; XRA 3.60. If you own any, check your entry price and compare. I believe most of these will be much higher later this year.
Governments and central banks hate the thought of gold in the hands of citizens, because of the independence it provides from the depreciating paper currencies. They seem to be exerting pressure to keep gold below 680. This may be nothing but conspiracy theory, but we should ask ourselves why gold is not much higher already. At some time the negative pressure will run out of steam.
Silver appears to me to be a special bargain at 12.82. It seems to me to be a screaming buy. You might want to investigate the www.Everbank.com metals select funds or their silver CD. Check them out, but make your own decisions.
Back to the general market. The DJI is currently at 13702.24 down 83+ on the day. The sub prime lending fiasco has yet to play out despite statements to the contrary. One has but to follow the HGX (housing index) to see that it is not over yet. My HGXXT Dec puts @200 have gone from 8.99 to 15.30 at the last trade. The HGXUD Sep @220 went from 12.40 and were sold this week for 24.20. I expect the HGXXT puts will exceed that before December. If you have risk tolerance, you might check into future puts on the HGX.
In options, I like the puts on the energy index (XLE), and in particular those for January 2008. You might look into those as well.
Remember in options, you know your exact risk to be the cost of the option. But they are for those with greater tolerance for risk and for funds you wish to use for speculation.
Study, prepare yourself, make your plans, commit them to the Lord, move out to put your plans into action, and leave the results to the Lord. Praise Him for the results He provides. As Solomon wrote, "The horse is prepared for the day of battle, but victory is of the Lord."
Best to each, Doug
Here are some of the stock prices. AGXM 1.42; CDY 1.85; CEF 9.34; DROOD 6.53 (I bought some at 6.95); EGO 4.539; GFI 4.54; GSS 3.75; HMY 13.99; IAG 8.37; KGC 13.42; KRY 3.52; MRB 4.64; NEM 42.30; NTO 5.60; PAAS 28.39; RNO 5.23; SSRI 35.44; XRA 3.60. If you own any, check your entry price and compare. I believe most of these will be much higher later this year.
Governments and central banks hate the thought of gold in the hands of citizens, because of the independence it provides from the depreciating paper currencies. They seem to be exerting pressure to keep gold below 680. This may be nothing but conspiracy theory, but we should ask ourselves why gold is not much higher already. At some time the negative pressure will run out of steam.
Silver appears to me to be a special bargain at 12.82. It seems to me to be a screaming buy. You might want to investigate the www.Everbank.com metals select funds or their silver CD. Check them out, but make your own decisions.
Back to the general market. The DJI is currently at 13702.24 down 83+ on the day. The sub prime lending fiasco has yet to play out despite statements to the contrary. One has but to follow the HGX (housing index) to see that it is not over yet. My HGXXT Dec puts @200 have gone from 8.99 to 15.30 at the last trade. The HGXUD Sep @220 went from 12.40 and were sold this week for 24.20. I expect the HGXXT puts will exceed that before December. If you have risk tolerance, you might check into future puts on the HGX.
In options, I like the puts on the energy index (XLE), and in particular those for January 2008. You might look into those as well.
Remember in options, you know your exact risk to be the cost of the option. But they are for those with greater tolerance for risk and for funds you wish to use for speculation.
Study, prepare yourself, make your plans, commit them to the Lord, move out to put your plans into action, and leave the results to the Lord. Praise Him for the results He provides. As Solomon wrote, "The horse is prepared for the day of battle, but victory is of the Lord."
Best to each, Doug
posted by Doug @ 9:05 AM
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