Thoughts on Markets

Thursday, January 20, 2011

HMY - HHWW - Precious metals capped and crashing - Ditto on General MKT


"This is the day which the LORD hath made; we will rejoice and be glad in it." (Ps 118:24) The Lord has given us another day and our command is to rejoice and be glad. We rejoice in the Lord who is the source of all our true and lasting happiness and joy. Praise Jesus Christ daily for His blessings.

From Mine Web:
Gold to perform as U.S. and China take contrary paths
As China's economic power grows and that of the U.S. stagnates or wanes, the two countries' priorities lead to opposing viewpoints and gold will likely perform as a result. The US and China are on two different paths. There's is from a position of strength seeking much more international influence and achieving it while the US is increasing the concern over the dollar in international minds and plans. Perhaps, we are to fade and they are to grow. HERE.

From Mine Web:
Gold eases slightly buy buying provides a floor (Bet that "buy" should be "but." Doug)
After three days of gains, the price of the yellow metal slipped on Thursday after a stronger dollar undermined some investment demand but, buying in Asia helped support prices. The demand remains strong with China and India on the buying side. HERE.

More trouble in SA mining reported by Mine Web:
Harmony Gold halts Bambanani ops after accident
The South African miner said a worker died due to falling rocks at the mine early on Thursday morning. HMY remains one of my core holdings. HERE.

Mine Web:
American Eagle silver coin sales already hit new record in January
The recent drop in price for silver has helped U.S. Mint Silver Eagle monthly coin sales for January to reach new record already. Gold coin sales strong too. HERE.

From Stratfor:
Chinese Espionage and French Trade Secrets 
Paris prosecutor Jean-Claude Marin on Jan. 14 began an inquiry into allegations of commercial espionage carried out against French car maker Renault. The allegations first became public when Renault suspended three of its employees on Jan. 3 after an internal investigation that began in August 2010. Within days, citing an anonymous French government source, Reuters reported that French intelligence services were looking into the possibility that China played a role in the Renault espionage case. While the French government refused to officially confirm this accusation, speculation has run wild that Chinese state-sponsored spies were stealing electric-vehicle technology from Renault. Read more HERE.

From Der Spiegel:
'Obama Can Not Afford a Rift with China'
When US President Barack Obama took office two years ago, among the many hopes riding on him was an improvement in US relations with China. There was much talk of the "Group of 2" (G-2) that the two countries would form, which would supposedly shape the new world order.

But instead of a new era of harmony between the major powers, the opposite has happened. US-Chinese relations are currently tenser than they have been in years. This word should get to Congress, too. HERE.

Silver May Decline 20% as Coin Sales Signal `Crowd': Technical Analysis
Silver prices may retreat as much as 20 percent this year as soaring demand for physical metal signals a “crowded” trade, said Barry James, the chief executive officer of James Investment Research Inc.  Rather, as Ed Steer wrote in Gold and Silver Daily that if it happens, it will be caused by JP Morgan. HERE.

Here is an updated graph on HHWW: This stock is looking better and seems to be holding well in spite of the volatility of the general market. I would like to buy in well below 1.70, but may not get the opportunity. Not much in the way of news on this Bulletin Board stock which deal in fashion clothing. 

 Miners from Scottrade

Some Prices: FVITF 3.9185; BULM 1.00; OLVRF 1.1677; HHWW 1.8555; DOW off 64+ to 11760+; SPX off 8.61 to 1273.31; Gold off 22.70 to 1347.60; Silver off 1.22 to 27.55.

Best to each, Doug


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