Thoughts on Markets

Tuesday, January 12, 2010

Metals Under Pressure Early Morning - Small Buying Opportunity

Greetings from global warming San Antonio, Texas. Blessings to each from the Lord. Let us give thanks to Him for His reminder that global warming is a myth.

The bullion banks and non-commercial players in the precious metals still have a clout which impacts the prices. They seem to be capping gold at about 1160 now. There must be a large number of willing buyers who seem to jump in immediately after the caps are placed.
I'm looking for the opportunity to add some more Fortuna to my portfolios, but would like to have a lower entry price. Fortuna is trading today in the 2.60-2.76 range.
Below, is Hecla Mining which I like a lot. It is showing a mixed technical picture. However, it is a sound stock and I expect to see it much higher as silver really catches hold and bounds upward. I did purchase some additional today at 6.44. It is now in the 6.39 - 6.45 range. May have to purchase a bit more.


From Telegraph.co.uk:

America slides deeper into depression as Wall Street revels

History repeating itself? President Obama has been accused by some economists of making the same mistakes policymakers in the US made in the Great Depression, which followed the Wall Street crash of 1929, pictured Photo: AP

The labour force contracted by 661,000. This did not show up in the headline jobless rate because so many Americans dropped out of the system. The broad U6 category of unemployment rose to 17.3pc. That is the one that matters.

Wall Street rallied. Bulls hope that weak jobs data will postpone monetary tightening: a silver lining in every catastrophe, or perhaps a further exhibit of market infantilism. Read it HERE.

From WSJ.com:

Commodity-Cost Jump Threatens to Stifle Rebound

From corn to crude, prices for a wide range of commodities are on the rise across the globe, a trend that underscores -- but could also hinder -- a gathering economic recovery.

In recent months, global food prices have been growing at a rate that rivals some of the wildest months of 2008, when food riots erupted across the developing world. Higher prices could be a positive sign that companies are gearing up for a rebound in consumer spending, or the harbinger of a return to the upward spiral that plagued consumers before the recession took hold. Read it HERE.

From KingWorld.com: See the video by Eric King looking forward into 2010 HERE.

Prediction on markets, including precious metals for 2010.

From InvestmentRarieties.com:

Ted Butler Commentary
January 11, 201
A MILESTONE MEETING

As I indicated in my recent interview on King World News, a very important open hearing has been scheduled by the CFTC for Thursday, Jan. 14, 2010 at 1:00 PM. The holding of an open Commission deliberation and possible vote on a specific issue is a very rare event, one that I don’t recall occurring before (although the Financial Times wrote that the last such event was held in 2004). The issue to be considered is that of proposed hard position limits in energy futures and legitimate hedge exemptions to those limits. Read the commentary HERE.

From TownHall.com:
"Notional" Security
by Thomas Sowell

The latest "screw-up" that let a man with explosives get on a plane on Christmas day is only part of a larger laxness and irresponsibility when it comes to national security. This administration pays lip service to national security and gives out with a lot of rhetorical notions that makes it notional security instead of national security.

The Muslim major who was arrested for the murders of American soldiers at Fort Hood had left so many clues to his hatred of this country that all you had to do was count the dots, without even connecting them, to see where he was coming from. But for a fellow officer to alert higher authorities to the danger would have meant risking damage to his own career moreso than to that of Major Nidal Hasan. Read it HERE.

These things give one a warm and fuzzy feeling about security. NOT! Hopefully, the Lord will protect us at home and abroad.

From MineWeb.com:

DAHLMAN ROSE EMERGING MINERS CONFERENCE

Nevada still offers excellent potential for discovering and developing gold assets

Investment bankers Dahlman Rose say prospective Nevada exploration and mining projects--not belonging to Newmont or Barrick--also offer junior company investors high-return opportunities in a rising gold price environment.

Author: Dorothy Kosich
Posted: Monday , 11 Jan 2010

RENO, NV -

Adam Graf, director of equity research for Dahlman Rose, suggests, that despite the dominance of Barrick Gold and Newmont Mining operations, "Nevada is still highly prospective for new mining investments."

Although declining ore grades and depleting assets continue to result in lower production and high costs at a number of major mines, Graft advised that Barrick and Newmont still "must fill their processing facilities to maintain costs and efficiencies of scale." Read it HERE.

Here are the miners from Scottrade.com:

Here are the currencies from Kitco.com:

Last Trades for some: FVITF 2.57; BYDDF 8.75; DOW off 31 to 10632.50; Silver off 0.05 to 18.50; Gold off 2.80 to 1147.70.

Still watching and waiting for silver to drop a bit to add some more U.S. Silver Eagles or Canadian Maple Leafs at or just below $20. They make good gifts for children and grandchildren as long as the instructions are, "Save for the future! Don't spend!" Much better for them than the mind and time consuming video games of ALL types.

Best to each, Doug





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