JDSU...Right back where I first bought it as one of my original positions. Just to put this in a 'fun' perspective, I bought PXP about the same time @ 74ish. Yes, I got into the OIL game when it was damn near 140!
CP -- I don't know the cost of silver production for ECU. I just saw in their MD&A that they had a profit margin of about 30%. And that profit margin was generated using their measly current production, which will increase greatly toward Q4 (and hence their cost per oz will decrease).
This quarter, its milling grade was much lower than its mining grade (they were milling the low-grade ore they unearthed last quarter while putting new mines into production), and so next quarter its milling grade will most likely be equal to this quarter's mining grade (as they will be milling the ore they produced during Q1), which will increase their production. Also, their production will increase because their current gold/silver recovery rates are much higher than the ones they had in Q1, and the equipment they recently purchased will allow them to increase the number of tonnes per day mined.
RBY - CC is silent on it lately, mostly engulfed in UXG (silver). Rob McEwen is their focus now. I'm looking at RBY constantly and came within a penny of buying today. Have been in and out but present prices appear to be a long term opportunity. Caveat is that it is a clunky short term and IT market for everything.
I sensed fear this week. Fear can wither the soul of any investor. It matters not what your trading plan is- don't allow fear to influence your judgment. Once you let it in, you're done.
BTW- I haven't been negligent on my soccer photos. Slow time of the year. I'll get a good shot of the kids at the pool and get a pic from Madera grad tomorrow.
Mark - You better produce some pics. I for one miss them. As for UXG, its silver in Mexico mostly. Newer discovery with impressive drill results, shallow mining. Probably a buy. I have been in and out.
UXG - $5.58 was support, $5 looks important to me but $4.25 is next support.
Chart has repinched, but ADX/MACD aren't parallel (indicating price may still be falling) and haven't begun to roll to the outside. The slight flattening of the MACD is the only indication of enthusiasm I detect but even that has slight negative slope.
Wow, I haven't looked at the UXG chart for a while -- I see that ECU is not the only junior miner that was dissed by the mean hedgies... Interestingly, even the cash cow SLW is back to the level of its January low, while SLV is MUCH higher than it was during its January low. Too bad all my money is invested into ECU -- otherwise, I would have started scaling into SLW and may UXG (I need to read about the state of things with UXG before I buy into it).
Has anyone at CC commented on RBY?
ReplyDeleteVECO facing competition? I suppose that means equipment suppliers may be at work providing the tooling.
ReplyDeleteWonder how 'ol VECO is doing these days?
I meant: CREE facing competition?
ReplyDeleteCP- Sure looks like it. Especially the price action.
ReplyDeleteDavid - Do you know ECU silver's cost of production (COP)? GPL's rose this quarter to around $10/oz...
ReplyDeleteJDSU...Right back where I first bought it as one of my original positions. Just to put this in a 'fun' perspective, I bought PXP about the same time @ 74ish. Yes, I got into the OIL game when it was damn near 140!
ReplyDeleteCP -- I don't know the cost of silver production for ECU. I just saw in their MD&A that they had a profit margin of about 30%. And that profit margin was generated using their measly current production, which will increase greatly toward Q4 (and hence their cost per oz will decrease).
ReplyDeleteThis quarter, its milling grade was much lower than its mining grade (they were milling the low-grade ore they unearthed last quarter while putting new mines into production), and so next quarter its milling grade will most likely be equal to this quarter's mining grade (as they will be milling the ore they produced during Q1), which will increase their production. Also, their production will increase because their current gold/silver recovery rates are much higher than the ones they had in Q1, and the equipment they recently purchased will allow them to increase the number of tonnes per day mined.
Mark - CREE - I'm pretty sure LED industry growth is a positive indicator for LED manufacturing equipment suppliers.
ReplyDeleteDavid, Thanks and fair enough, I think it's safe to assume (or expect, I should say) that ECU's margin should increase going forward.
ReplyDeleteI'll wait until X breaks out above 196 to open a position.
ReplyDelete"U.S. Oil Supply Highest for May Since 1980, API Says"
ReplyDeleteRBY - CC is silent on it lately, mostly engulfed in UXG (silver). Rob McEwen is their focus now. I'm looking at RBY constantly and came within a penny of buying today. Have been in and out but present prices appear to be a long term opportunity. Caveat is that it is a clunky short term and IT market for everything.
ReplyDeleteI sensed fear this week. Fear can wither the soul of any investor. It matters not what your trading plan is- don't allow fear to influence your judgment. Once you let it in, you're done.
ReplyDeleteNo takes at all in RBY?
ReplyDeleteFear - It's been a survival emotion of animals including humanoids for eons. Tread lightly my friends.
ReplyDeleteIllini- Thanks, we crossed each other.
ReplyDeleteJust to show how stupid I am, isn't UXG mostly a gold play?
UXG- You all see it, VWAP support at 5.
ReplyDeleteBTW- I haven't been negligent on my soccer photos. Slow time of the year. I'll get a good shot of the kids at the pool and get a pic from Madera grad tomorrow.
ReplyDeleteMark - You better produce some pics. I for one miss them. As for UXG, its silver in Mexico mostly. Newer discovery with impressive drill results, shallow mining. Probably a buy. I have been in and out.
ReplyDeleteSLW - Char has been repinching, support failed so $28.10 is the next obvious target:
ReplyDeletehttp://stockcharts.com/c-sc/sc?s=slw&p=D&yr=0&mn=7&dy=0&i=p99295968853&a=217994610&r=7736
"Hi oh Silver, away!" I am dating myself. That's the Lone Ranger's signal call (to his horse) during 1945-1952 radio, later on TV.
ReplyDeleteTrue today?
RBY - http://stockcharts.com/c-sc/sc?s=rby&p=D&yr=0&mn=7&dy=0&i=p99295968853&a=217994610&r=7736
ReplyDelete$4.08 was support.
Silver - I think we need gold to break through $1553.10 before the PM trains can leave the station.
ReplyDeletehttp://stockcharts.com/c-sc/sc?s=$gold&p=D&yr=0&mn=7&dy=0&i=p99295968853&a=217994610&r=7736
SLW - That support level was $31.83 BTW, now resistance.
ReplyDeleteAll right Illini...
ReplyDeletehttp://www.screencast.com/t/tgr8ritfBl
From our Christmas picture.
UXG - $5.58 was support, $5 looks important to me but $4.25 is next support.
ReplyDeleteChart has repinched, but ADX/MACD aren't parallel (indicating price may still be falling) and haven't begun to roll to the outside. The slight flattening of the MACD is the only indication of enthusiasm I detect but even that has slight negative slope.
http://stockcharts.com/c-sc/sc?s=UXG&p=D&yr=0&mn=7&dy=0&i=p99295968853&a=217994610&r=7736
UXG - Volume was up a little though, a sign of accumulation?
ReplyDeleteThis old bull looks a little long in the tooth, LOL:
ReplyDeletehttp://3.bp.blogspot.com/-ZYdVaTJLyQU/Tft3-uBz52I/AAAAAAAADhQ/4bjHnUONEus/s1600/Bull%2BBull%2B660W.jpg
Wow, I haven't looked at the UXG chart for a while -- I see that ECU is not the only junior miner that was dissed by the mean hedgies... Interestingly, even the cash cow SLW is back to the level of its January low, while SLV is MUCH higher than it was during its January low. Too bad all my money is invested into ECU -- otherwise, I would have started scaling into SLW and may UXG (I need to read about the state of things with UXG before I buy into it).
ReplyDeleteCute picture Mark. What is all that green stuff on the ground?
ReplyDeleteWorth keeping an eye on.
ReplyDeletehttp://blogs.barrons.com/techtraderdaily/2011/06/17/nvidia-canary-in-the-coal-mine-for-tablets-says-hickey/