Have you ever driven through a small town in a remote part of the country, and wonder what it would be like to have been born and raised/married the girl next door/worked and raised a family/experienced the highs and lows of life/whiled away the sunset hours- all here?
Time will tell. I wouldn't be long now because we are at the top of the channel, and have Obama and the Fed on the plate for next week. The Fed has to be scared with gold and silver breaking out and foreign countries dumping US debt. Last time their reaction to commodities rising caused the big deleveraging and the crash, recession, and deflation. I'm sorry to say I don't expect them to do any better this time because their whole economic philosophy appears to me to be completely bogus, and its only a matter of time before it all crashes down as a result. You can't fix too much debt with more debt, IMO.
Now FCX indeed looks toppy here. I have just placed a sell short stop limit order on it at $81/$80.9 for 100 shares, so as to hedge my other commodity positions better in case the market starts sliding on Monday.
David - I'm not going to stick my neck out so far as to claim these miners may have a bit further to go, but the possibility may exist for numerous reasons, country risk being one of them?
In fact, if this theory has any basis, miners not exposed to SA risk may have a "leg up" in the short term over those with such exposure?
" South Africa's new mining charter 14 September 2010
South Africa has launched a new charter to facilitate the sustainable transformation and development of its mining industry, with emphasis on a target of 26% black ownership of the country's mining assets by 2014."
Small enough to fly under the wire? Well, smallness may or not be a virtue, Beijing has been cracking down on dirty and energy intensive industry in an effort to reduce fossil fuel consumption and carbon emissions.
CADC management seems to have a handle on the subject, I think they saw this train coming?
"As one of ten nationally certified concrete companies with the Certificate of China Environmental Protection Concrete, we can produce our proprietary concrete with our waste-recycling technology throughout the country while progressing the government's environmental mandate."
"BEIJING, Feb. 24 /PRNewswire-FirstCall/ -- China Advanced Construction Materials Group, Inc. (Nasdaq: CADC) ("China ACM" or the "Company"), a leading provider of ready-mix concrete in China, today announced the pricing of its public offering of 2 million registered shares of common stock ("shares") at a price of $4.60 per share. In addition, the Company has granted the underwriter a 30 day option to purchase an additional 300,000 shares at the public offering price of $4.60 per share to cover over-allotments. The shares are being sold under the Company's previously filed shelf registration statement, which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on January 11, 2010. The offering is expected to settle and close on March 1, 2010. The Company intends to use the net proceeds to purchase 2 additional portable concrete mixing plants with the balance allocated for working capital purposes. Roth Capital Partners was the sole underwriter for this transaction."
Perhaps we'll find out how CADC meets expectation as the DD cycle progresses.
UXG had an amazing run over the past year, and to make sure that I don't let my current gains disappear, I have just placed a sell stop limit order at $5/$4.98 under my last 500 shares of UXG. I think shares of WATG have much better prospects for the next 5 years than shares of UXG. Besides, I already have a heavy exposure to gold/silver, and I should diversify it to some other concepts (like WATG).
WATG broke to the upside from its recent sideways pattern, and made a higher low and a higher high since July 9 -- what's not to like about this chart?
I am placing a buy stop limit order on it for 500 shares at $9.4/$9.45. Also, placing a buy limit order for 250 shares at $9.
David - WATG spiked up to like $11 and change the other day. I almost shorted but it sure looks like it's ready to move up.
"The Fed has to be scared with gold and silver breaking out and foreign countries dumping US debt. Last time their reaction to commodities rising caused the big deleveraging and the crash, recession, and deflation." Cheapy - I think that's an oversimplification of what caused the crash/recession/etc. right? I mean the Fed only lowered interest rates during 2008 while gold and oil spiked.
Mark - that game doesn't sound like it's a game for me. I'd probably drink the beer after a minute and just step aside and watch others sweat it out.
Have you ever driven through a small town in a remote part of the country, and wonder what it would be like to have been born and raised/married the girl next door/worked and raised a family/experienced the highs and lows of life/whiled away the sunset hours- all here?
ReplyDeleteTime will tell. I wouldn't be long now because we are at the top of the channel, and have Obama and the Fed on the plate for next week. The Fed has to be scared with gold and silver breaking out and foreign countries dumping US debt. Last time their reaction to commodities rising caused the big deleveraging and the crash, recession, and deflation. I'm sorry to say I don't expect them to do any better this time because their whole economic philosophy appears to me to be completely bogus, and its only a matter of time before it all crashes down as a result. You can't fix too much debt with more debt, IMO.
ReplyDelete2nd,
ReplyDeleteI grew up in that town... yes sometimes I miss it but...
those are just root memories
Our new present future will be fast and exciting and unstable
I am ready
are you?
vb
Ah yes grasshopper, but are they in a trance or merely sleeping? Perhaps one in the same?
ReplyDeleteBy my account, RSI(7) just turned down through 70.
ReplyDeleteThat was for SPY, S&P remains in the 70's and hasn't turned down.
ReplyDeleteGold chart - Kinda looks toppy here to me.
ReplyDeleteNow FCX indeed looks toppy here. I have just placed a sell short stop limit order on it at $81/$80.9 for 100 shares, so as to hedge my other commodity positions better in case the market starts sliding on Monday.
ReplyDeleteended up adding too much to my CLF position yesterday, need to lighten that up on mon.
ReplyDeletehave a great weekend guys!
David - I'm not going to stick my neck out so far as to claim these miners may have a bit further to go, but the possibility may exist for numerous reasons, country risk being one of them?
ReplyDeleteIn fact, if this theory has any basis, miners not exposed to SA risk may have a "leg up" in the short term over those with such exposure?
" South Africa's new mining charter
14 September 2010
South Africa has launched a new charter to facilitate the sustainable transformation and development of its mining industry, with emphasis on a target of 26% black ownership of the country's mining assets by 2014."
http://www.southafrica.info/business/economy/policies/miningcharter-140910.htm
MarkW said...
ReplyDeleteCP- Re steel/cement...We talked about this a while ago, no? Wasn't the take that CADC was small enough to fly under the radar.
VB- Vegas, baby!!
It's been a good run for many miners but several charts do look a bit toppy. Could these be rolling over here?
ReplyDeletePLM - Who saw that train coming?
Don't know why this caught my eye...
ReplyDeletehttp://www.marketwatch.com/story/can-you-hold-your-beer-this-sports-for-you-2010-09-17?link=kiosk
Now that is my type of competition....
From the event winner...
‘I did nothing.’
Rogelio Juarez, of his Masskrugstemmen training regimen.
Small enough to fly under the wire? Well, smallness may or not be a virtue, Beijing has been cracking down on dirty and energy intensive industry in an effort to reduce fossil fuel consumption and carbon emissions.
ReplyDeleteCADC management seems to have a handle on the subject, I think they saw this train coming?
"As one of ten nationally certified concrete companies with the Certificate of China Environmental Protection Concrete, we can produce our proprietary concrete with our waste-recycling technology throughout the country while progressing the government's environmental mandate."
"BEIJING, Feb. 24 /PRNewswire-FirstCall/ -- China Advanced Construction Materials Group, Inc. (Nasdaq: CADC) ("China ACM" or the "Company"), a leading provider of ready-mix concrete in China, today announced the pricing of its public offering of 2 million registered shares of common stock ("shares") at a price of $4.60 per share. In addition, the Company has granted the underwriter a 30 day option to purchase an additional 300,000 shares at the public offering price of $4.60 per share to cover over-allotments. The shares are being sold under the Company's previously filed shelf registration statement, which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on January 11, 2010. The offering is expected to settle and close on March 1, 2010. The Company intends to use the net proceeds to purchase 2 additional portable concrete mixing plants with the balance allocated for working capital purposes. Roth Capital Partners was the sole underwriter for this transaction."
Perhaps we'll find out how CADC meets expectation as the DD cycle progresses.
CADC - IMO (based upon my DD), the stock price is currently flying under the wire.
ReplyDeleteDavid, where do you get your ECRI data from? I'd like to look at it from 2005 or 2006 forward by week or by month.
ReplyDeleteDo you know where I could find that?
David, nevermind, I think I found it
ReplyDeleteUXG had an amazing run over the past year, and to make sure that I don't let my current gains disappear, I have just placed a sell stop limit order at $5/$4.98 under my last 500 shares of UXG. I think shares of WATG have much better prospects for the next 5 years than shares of UXG. Besides, I already have a heavy exposure to gold/silver, and I should diversify it to some other concepts (like WATG).
ReplyDeleteWATG broke to the upside from its recent sideways pattern, and made a higher low and a higher high since July 9 -- what's not to like about this chart?
ReplyDeleteI am placing a buy stop limit order on it for 500 shares at $9.4/$9.45. Also, placing a buy limit order for 250 shares at $9.
David - WATG spiked up to like $11 and change the other day. I almost shorted but it sure looks like it's ready to move up.
ReplyDelete"The Fed has to be scared with gold and silver breaking out and foreign countries dumping US debt. Last time their reaction to commodities rising caused the big deleveraging and the crash, recession, and deflation." Cheapy - I think that's an oversimplification of what caused the crash/recession/etc. right? I mean the Fed only lowered interest rates during 2008 while gold and oil spiked.
Mark - that game doesn't sound like it's a game for me. I'd probably drink the beer after a minute and just step aside and watch others sweat it out.