Stock Market Dec. 29 - Jan. 2

[sunseeker]

BF
 
I value all your opinions. Any strategy that I might have is down to listening to other people (with a bit of luck thrown in). I may have got out of uranium at a good point last time, but I am also well aware that you and other members of this forum have stayed in closer touch with events, and are now better placed than I am to exploit those opportunities. So I am listening, learning, and noting promising strategies.


Uboat thanks for another strategy to add to my play book.

Let’s all avoid those ouches.

ATB.

[Bottomfeeder]

Thanks sunseeker....likewise...unfortunately I can't make money in a stable way to save my life!  I am merely a hard working hack, grinding on technicals (first these days) and fundamentals trying to find whatever opportunities there are out there.  I could care less about what ideology, and I am a lousy predictor of the future, or at least monetizing it!

So careful what you take from me, not like I have Madoff's resume or anything

The one thing I really like about this site, is I feel like there are a bunch of people working hard here and willing to share their thoughts, hopefully we all can benefit from each other, because so far most of us have just been walking the plank, like a bunch of drones. 

Side note nice little bounce back today in the metals and energy sector.  Glad to see a U bounce with some more oil weakness out there.  Volume was weak today, and frankly I don't know how to interpret that....apathetic buying and selling I guess.  I think that broad market volumes are still soft.

DSL....whats your take on the meaning of light volumes today, off of yesterdays tattooing, after big gains?  Is that a bearish or bullish indicator?  Obviously anybody chime in!!!

Hold on to your asses for tomorrows opening with employment numbers coming out.  ADP's new methodology gets checked so that should or could be interesting.

Thanks again for the nice comments and good luck

Peace!

[rapid1]

I'd be even more lost with out you guys!  rapid1

[jjj000]

DSL....whats your take on the meaning of light volumes today, off of yesterdays tattooing, after big gains?  Is that a bearish or bullish indicator?  Obviously anybody chime in!!!

things are mixed now... U's, energy, S&P - highs today did not rise above resistance from previous lows, in most cases.  That's a somewhat bearish indicator.  Nothing to sieze on yet though.

On the flipside, uptrend lines from back in Nov are still in tact for most of the above, which is obviously a bullish indicator.  S&P would have to give back 5% from here before I got worried (around 865 level).

Leading gold stocks appear to be peaking, but still have some life in them it looks like.  If you didn't take profits yet I would soon, or hold on for the wild consolidation ride if you prefer...

Although I do have a fever, so I could be seeing things

GLTA.

[richmanch]

What I see is a consolidation of the recent move. I think PNP and MGA might have given back some of their gains, and I guess you could call those stocks pumped and dumped. I don't like those stocks anymore, and would not buy them. I follow/own PDN, URE, DML, HAT, JNN, and picked up some UEX today at .89. None of those are looking too bad. But, not a bad idea to sell a bit either...at prices that seemed impossible a few weeks ago. I also follow own some tiny garbage that I got from Casey. Those things are manipulated pretty seriously, it seems.

Thanks for the insight uboat and all.

[Uboat]

Good contributions BF, richmanch and jjj000 on the current consolidation.

Many traders seem to be on extended holidays or hesitant to enter the fray without a clue to the direction. However, there are temptations in the U, oil and metals sectors, with willing participants to move them higher, with “blue chip” companies almost as risky as juniors.

Take the uncertain plight of TCK.B, whose shares more than doubled from its recent lows. 
“The country's largest base metals miner is trimming 1,400 jobs including 550 in Canada. Teck said the move will lead to annual savings of $85-million a year, less than 1 per cent of the $9.8-billion (U.S.) in debt it took on to buy Fording Canadian Coal Trust last year at the height of the commodities boom.”

http://www.globeinvestor.com/servlet/story/RTGAM.20090108.wteck09/GIStory/

[sunseeker]

First.
An article worthy of your attention sent to me today.
http://www.nytimes.com/2009/01/08/business/worldbusiness/08yuan.html?_r=2&partner=rss&emc=rss
(I had to clear my history after using the link a few times. So paste and copy it into word if you manage to get the link to work first time, because I don’t have the password required).
Second.
Last February I started to save any interesting links, and e-mails, and saved them in monthly order to look back on (I pasted, and copied some into word just in case the link disappeared. Looking back through last February there was quite a bit of take over talk (not least Rio, and BHP), gold miners de-hedging, a flight to gold, and uranium showing signs of recovery after being badly burned. Interestingly the month started with talk of Gold Fields laying off miners due to reduced demand. Bear in mind that February also saw power cuts in South Africa which affected mine output.

Just something to take into consideration when looking towards February this year.

Finally.
I have netted a +82% profit on my copper play. I mentioned this once before, and it has worked every year as far back as I can go. The minimum return that I have made was +20% over a relatively short time scale. I didn’t mention it when I first embarked on the strategy this time because I was very uncertain as to whether this year was going to prove the exception to the rule. Consequently I didn’t commit the same amount of capital to it this time either. Because of my cautious nature I even closed my position at its earliest ever point. If it worked this year of all years it has got to be worth a mention when I implement it again (later on in the year when it will be fresher in your minds).

ATB.

[dananini]

Interesting interview with one of our all-time favorites.
Notice how he mentions Pinetree dumping u's in early '07.
Just when i subscribed and followed dines.

http://www.marketoracle.co.uk/Article8136.html

[Bottomfeeder]

Dananinni.....Yikes.....thanks for that link.

For what its worth (assuming its true of course) I really like that Lake Maitland Project, and frankly its one of the main fundamental reasons I own alot of Mega, plus the cash on hand needed for survival.

Production has to be low cost at this time, and these guys have a flat surface level deposit, cant ask for anything better than that. 

Similarly, that is why I also like First Uranium.  The are converting tailings to gold, at really low costs, and raised a bunch of cash (125M I think it was) to provide like 25-30% of their production at about 750 p/ ounce.  The rest is free and clear to sell at market rates.

It does piss me off that Dines called for a load up the truck, as Sheldon appears to have been dumping.  Something doesn't make sense there though, because I have looked at alot of Pinetrees asset allocations since May 07, and have found there resource holdings % wise to be quite consistant.   Maybe, the allocation was higher before I started checking them.  IDK

Sunseeker....thanks for that info....keep us posted on your entries and exits if you dont mind.  Maybe we can go for a piggy back ride . 

Whats going on with me and my children references?  Ouches, piggy back rides?  I dont even have kids, that I know of.... .  Who knows maybe just helpless feelings.  

[sunseeker]

BF.
I will keep you informed.
It will be closer to the back end of this year now though.

I thought seriously about it, but with the markets behaving as they have been I felt that this year might just turn out to be the exception to the rule. I don’t like loosing money, or being responsible for others loosing money for that matter. So I kept quite this time.
I can’t remember whether it was you or Depleted that I posted something on it in the dim and distant past. I can’t find it now. So when I mention it again take note.

Dananini. Good link. The moral of the story being drop Dines, and invest Inwentash. At worst you won't loose quite as much.

ATB.
Have a good weekend.

[punter]

I am not keeping a file on Dines but wasn't he pimping Interwash and PNP etc  just about the same time Interwash says he was liquidating u issues?

[sunseeker]

Spot on Punter.

It’s called a symbiotic relationship. Other people might call it something else.

ATB.

[maxine]

We've had the wrong date all week.  This was reported in Jan. 10 Globe & Mail (Canada) B13:
Who is Buying & Selling}}Insider Trading by Ted Dixon
"Between Dec. 29 & Dec. 31 Mega Uranium  chief executive officer Sheldon Inwentash bought 136,000 shares at prices ranging between 47 cents and 76 cents.  So far over the past 12 months, the CEO has bought 336,000 shares at  an average price of $1.80