Thoughts on Markets

Friday, April 30, 2010

Harmony Gold (HMY) - Gold & Silver Up - Corporate Worship on the Lord's Day

Take a look at Harmony graph which seems poor, but is giving mixed signals. Note the article with video on HMY, below. I would consider it a buy below 9.50, but would be very cautious if I bought.
Both gold and silver are looking strong. The boyz do not seem to have been active, but they could jump in at any time.


From NYTimes.com Europe:

Digging Deep and Seeing Greece’s Flaws

ATHENS — For Paul Koptides, who works in a car rental agency here, the news that Greece’s bonds had been reduced to junk status was just the latest in a series of blows, including wage cuts, new taxes and pressure from European neighbors for ever deeper austerity measures. Read it HERE.

From Bloomberg.com:

Moore Capital, Morgan Stanley, UBS Settle CFTC Cases


April 30 (Bloomberg) -- Moore Capital Management LP, Morgan Stanley and UBS AG’s securities division agreed to pay more than $39 million to settle separate allegations regarding trading on the New York Mercantile Exchange. Read it HERE.

From MineWeb.Com:

Best gold returns will come from undervalued advanced explorers

"If we have a robust gold price, we are going to have a robust junior-stock market," asserts Mickey Fulp, "The Mercenary Geologist." Interview with The Gold Report.

Author: The Gold Report
Posted: Thursday , 29 Apr 2010

Vancouver, BC -

The Gold Report: Mickey, last time we spoke with you in January, you were still digesting what happened with equities in 2009, and you weren't ready to comment on what that might mean for 2010. Now that we're into the second quarter, are you ready to comment on what last year's performance means for equities in 2010?

Mickey Fulp: We spoke very early in January about 2009, which was arguably one of the best years ever for the junior resource sector. I felt it was undetermined at that time if there was still upside within the junior resource market or not.

The benchmark for the junior resource sector is the Toronto Venture Index. That's up 7% since the beginning of this year. We have a very strong chart since mid-December 2008, which was the five-year low. It's been a steady march up, but we're still 50% off the high from April of '07 of 3,362. The Venture Index is about 1,650 right now. What that tells me is that as a whole, the junior resource sector is still struggling, but good companies within the 1,750 juniors on the exchange are prospering. Lots of bad companies have been left behind in the run-up. Plus we've had this Goldman Sachs/SEC debacle going on the last couple of days. Everybody knows this is just the tip of the iceberg. In the major markets, I think there are questions as to how this will play out in the short- to mid-term. Within the junior resource sector, if we pick good companies we still have upside as long as the gold price stays high. Of the 10 companies that I have covered for at least 12 months, all have at least doubled at some point within that 12-month period. Read it HERE.

From MineWeb.Com:

World's 100 top gold stock longs

With dollar gold bullion at five month highs, speculative interest in listed gold stocks is somewhat feverish.

Author: Barry Sergeant
Posted: Thursday , 29 Apr 2010

JOHANNESBURG -

With no disrespect meant to Greece, and other interesting countries, dollar gold bullion has in the past few hours moved to levels not seen since early December 2009, when the metal would go on to trade at record nominal levels. Investors in listed gold stocks, of which roughly 500 can be counted up around the world, have been nosing this story pretty keenly. Read it HERE.

From MineWeb.Com:

World's 100 top gold stock shorts

While it is not a list for the faint-hearted, the gold stocks at the bottom of the performance tables aren't all penny stocks

Author: Barry Sergeant
Posted: Thursday , 29 Apr 2010

JOHANNESBURG -

It's true that dollar gold bullion has in the past few hours moved to levels not seen since early December 2009, and also that there are about 500 listed gold stocks around the world. While a good number of gold stocks are the top of the pack are literally roaring along, some investors may spare a thought for the bottom hundred, where the preference has been to be decidedly short.

It can be noted in passing that while logic may dictate that the vast majority of the least-wanted 100 listed gold stocks would be "penny stocks", the applicable list shows an aggregate market value of just under USD 5bn, giving an average value of USD 50m each. This is nothing to sneeze at, although some of the stories that emerge from the pack may be. Read it HERE.

From MineWeb.com:

Update on Harmony with a video HERE.

Miners, mostly up, from Scottrade.com:
Currencies from Kitco.com:
Some prices early in this day: BYDDF 9.10; FVITF 2.25; EXGMF 2.8824; TBT 45.62; UUP 23.971; Gold up 12.80 to 1180; Silver up 0.24 to 18.66; DOW off 50 to 1117.

The White House, Congress, and the Federal Reserve have shown a willingness do whatever they think necessary to solve or hide our financial challenges. Do you think they could do the unthinkable of going to war to take our attention off? It has happened in the past. We should pray that they will not select this course of action, but it certainly not beyond their planning and potential reactions.

Rest in the Sovereignty of our King Jesus and know that He is in control and working all things for the good of His people. There is a purpose to all of life. The bible is the source book for the law of God which is the guide which binds every man whether he believes it or not. We choose life by obeying God or death by ignoring and failing to be obedient to His law-word. Consider this carefully!

He wants each of us to join in corporate worship of Him every Lord's Day, so let's begin to prepare for that. Go to a sound church each Lord's Day to honor Him and receive the benefits of knowing the full word of God and participating in His two sacraments.

Best to each, Doug




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