VMW - Looks like pretty high short float, they're gonna cover soon? I was hoping I might get a lower entry price but that may not be possible with this short float?
Q: "There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."
Quote of the Day: "The largest Asian central banks have gone on record that they are curbing their purchases of US debt. And they are also diversifying their huge reserves, steadily moving away from the dollar. The risks have simply become too many and too serious." -W. Joseph StroupeEditor, Global Events
GDXJ reminds me of SJT/NOK/MMYT/you name it from last year. There's going to be a big one to 3 day bounce soon...
Keep in mind almost all of them did go lower after the waterfall selloff. I still think the best way to play anything going through a waterfall decline for a longer term trade is to at least wait for divergences in momentum readings.
It is always fun to catch them at the bottom though. I lucked out with MMYT last year and had a huge bounce in a day or two. I got shaken out of WNC around breakeven because I bought in at $6 on hugely oversold readings and doubled down at $5 only to watch it go to $4. The mental anguish was too great so I just exited on strength. That's the downside to those trades.
RSI(14) on GDXJ is only 19...i've seen it down to 10. RSI(7) is at 8. I've seen it down around 4.
Liquidity Update The Company's available cash at year-end 2012 was $46.0 million and includes $16.8 million reserved and paid in connection with the maturity of the Company's 5% Convertible Senior Notes due in February 2013. The Company has recently sought indications of interest for certain debt and equity liquidity alternatives, but not received sufficient support for all of its liquidity needs or plans. The Company is continuing to explore and evaluate options for its capital needs, as well as continuing to evaluate and finalize its 2013 budget for capital expenditures based on its available liquidity. In connection with its evaluation, the Company plans to retain a financial advisor to assist the Board and senior management in its ongoing exploration of a variety of financing alternatives, including a potential restructuring of the Company's balance sheet in light of its current liquidity and cash needs.
NOTE: Short it if you can get it is my best take on this.
I did. Then I watched the service recording this AM and saw how well all the service stocks had done and Big Dave pointed out that ANAD was still trading in the box (range).
This AM it started off around 2.55 and then immediately went to 2.58-2.59 so I bought a position at 2.5952 and it went to 2.65 and I figured WTH, I may as well hold on and see what happens.
Gold breaking down through the 450 day (2 year) moving average for the first time since the bull market in gold started way back in 2001, other than a couple of months in the financial crisis.
Better bounce soon, or I'd say it will be a long drawn out bottom over several years.
No spec buyers remain in the mining sector.
ReplyDeleteAsbury Auto: ABG crushes 4Q on top & bottom line
ReplyDeleteO - Buy
Westlake Chemical Corp: Strong finish to 2012; upside in ethylene/PE and vinyls
European markets are strong. Sidelined Sid has to be hurting. The right trade will be to fade the urge to splurge.
ReplyDeleteGun to head> miners ultimately spike down hard. GDX/ GDXJ down another -20% is not out of the question.
ReplyDeleteVMW - Looks like pretty high short float, they're gonna cover soon? I was hoping I might get a lower entry price but that may not be possible with this short float?
ReplyDeleteLooks like vinfizez data is wrong.
DeleteMorning dive in spot silver: http://www.kitco.com/charts/livesilver.html
ReplyDeleteNew 52-wk low will be printed for GDXJ at the open.
DeleteGDXJ @ 16.89...
DeleteAdding to GDX @ 39.37...
ReplyDeleteMJNA: Crime pays?
ReplyDeleteThis comment has been removed by the author.
DeleteQ: "There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."
DeleteA: George W. Bush OR The Who?
Who said that?
DeleteOnly W could hack a saying like that.
DeleteSVM - No doubt this one fails to hold $4 today.
ReplyDeleteQuote of the Day:
ReplyDelete"The largest Asian central banks have gone on record that they are curbing their purchases of US debt. And they are also diversifying their huge reserves, steadily moving away from the dollar. The risks have simply become too many and too serious." -W. Joseph StroupeEditor, Global Events
Asian banks are buying gold instead, watch the price going straight up now.
DeleteAll right buddy, I followed you at 16.90.
ReplyDeleteHopefully you won't be repeating what I'm thinking to myself right now, '----ing miners.'
DeleteWow. Sentiment in the mining sector is desolate.
DeleteAGO - Such a bulldozer, unstoppable.
ReplyDeleteWe're getting the spike down in miners. Let's see if it gets bought.
ReplyDeleteDitto for spot silver/gold. http://www.kitco.com/charts/livesilver.html
DeleteKeep in mind we'll experience the same kind of desolation in the broad markets at some point.
DeleteDesolation...
DeleteCreation...
Communication...
http://www.youtube.com/watch?v=2K0fbcABS_Y
GDXJ in Patricia's account @ 16.80. Usually when 'she' buys it's a bottom. At the close ladybugs!
ReplyDeleteI'm getting GASS'ed!
ReplyDeleteFly Robin fly, up up to the sky!
ReplyDeletehttp://www.youtube.com/watch?v=s62KngW84rU
GDXJ reminds me of SJT/NOK/MMYT/you name it from last year. There's going to be a big one to 3 day bounce soon...
ReplyDeleteKeep in mind almost all of them did go lower after the waterfall selloff. I still think the best way to play anything going through a waterfall decline for a longer term trade is to at least wait for divergences in momentum readings.
It is always fun to catch them at the bottom though. I lucked out with MMYT last year and had a huge bounce in a day or two. I got shaken out of WNC around breakeven because I bought in at $6 on hugely oversold readings and doubled down at $5 only to watch it go to $4. The mental anguish was too great so I just exited on strength. That's the downside to those trades.
DeleteRSI(14) on GDXJ is only 19...i've seen it down to 10. RSI(7) is at 8. I've seen it down around 4.
Seems almost like long PM hedging play in progress.
DeleteGPL is actually green for some reason. Big nasty H&S with down sloped neckline looks ominous and unfun. :(
GMXR? Now THAT is some panic selling. BK coming? could actually be a good thing for the sector.
ReplyDeleteLiquidity Update
DeleteThe Company's available cash at year-end 2012 was $46.0 million and includes $16.8 million reserved and paid in connection with the maturity of the Company's 5% Convertible Senior Notes due in February 2013. The Company has recently sought indications of interest for certain debt and equity liquidity alternatives, but not received sufficient support for all of its liquidity needs or plans. The Company is continuing to explore and evaluate options for its capital needs, as well as continuing to evaluate and finalize its 2013 budget for capital expenditures based on its available liquidity. In connection with its evaluation, the Company plans to retain a financial advisor to assist the Board and senior management in its ongoing exploration of a variety of financing alternatives, including a potential restructuring of the Company's balance sheet in light of its current liquidity and cash needs.
NOTE:
Short it if you can get it is my best take on this.
ANAD finally getting the lift off? I hope so.
ReplyDeleteI though u sold?
DeleteI did. Then I watched the service recording this AM and saw how well all the service stocks had done and Big Dave pointed out that ANAD was still trading in the box (range).
DeleteThis AM it started off around 2.55 and then immediately went to 2.58-2.59 so I bought a position at 2.5952 and it went to 2.65 and I figured WTH, I may as well hold on and see what happens.
In short...I was F'ing LUCKY.
Go ANAD!
DeleteGMO - 2/19/13 PR - Everything on track and progressing, awaiting finalized capital funding.
ReplyDeletehttp://finance.yahoo.com/news/general-moly-announces-continued-progress-133000049.html
"Gun to head> miners ultimately spike down hard. GDX/ GDXJ down another -20% is not out of the question."
ReplyDeleteThat's what I am waiting for. The bottom of the sell-off in the miners will occur when the whole market pulls back.
Bruce Lee -- Ping Pong (Full Version) ... WOW...
ReplyDeletehttps://www.youtube.com/watch?feature=player_embedded&v=SncapPrTusA
The pillars of debt 2007:
ReplyDeletehttp://pixdaus.com/files/items/pics/3/3/276303_98316613d399cf5d2cf5f5b44386464a_mdsq.jpg
The pillars of debt 2009:
http://gifs.gifbin.com/012011/reverse-1294773188_despicable-me-pillars-at-the-bank-of-evil.gif
Gold breaking down through the 450 day (2 year) moving average for the first time since the bull market in gold started way back in 2001, other than a couple of months in the financial crisis.
ReplyDeleteBetter bounce soon, or I'd say it will be a long drawn out bottom over several years.
http://blog.haysadvisory.com/2013/02/the-fear-index-is-breaking-down.html
So many things in a bull trend now - PM's were the last market. Very rare that you have the leaders of one bull also lead the next.
DeleteMy perception at this point is PM's are first off the dance floor.
DeleteGDX/ GDXJ off @ 39.42/ 16.62. RYPMX will come off at the close.
ReplyDeleteIt's called discipline. I'm keeping my losses small.
DeleteIt is hard to say this sector is safe until you get a lower low. You have to give some for that.
DeleteCapital presevation, rule number one.
Duh wife was talking to me "a higher low"
DeleteLNCO, took a shot at 37.09 ish, who knows.
ReplyDeleteSCTY - Looks like a bear flag to me, higher lows?
ReplyDeleteAdded @ 2 more times @ .60
ReplyDeleteVMW - Covered Friday's unfinished business, could be ready to roll from here.
ReplyDeleteGMO Looks like someone bought the close, huh?
ReplyDeleteEven the 'True Contrarian' has taken a hit recently.
ReplyDeletehttp://truecontrarian-sjk.blogspot.co.uk/
RYPMX closes down -1.42%, or a -0.7% hit to the port. Do you realize I could have thrown a dart at any other sector and made money today?
ReplyDeleteIt's time to stop out of miners. JMO.
DeleteDon't be like John Paulson, who remains GLD's largest shareholder.
Delete"John Paulson, who remains GLD's largest shareholder."
DeleteNo wonder gold's getting crushed! Trouble chases Paulson everywhere.