Friday, November 4, 2011

Thursday, November 3, 2011

Reformed Borker on gold miner suckitude

The Reformed Borker (Bork bork bork!) has a fun little article on how much gold miners suck.

market comment

$HUI looks strong, and its RSI(8) isn't yet overbought. SLV is a bit bearflaggy, but GLD looks nice.

The broad market seems to indicate that nobody gives a crap about Greece, really. The dump really does seem to have been nothing more than collateral damage from the MF Globule collapse. (Ah-ha-ha, see my little pun in there? "Collateral" damage? See, the story is that MF Globule broke segregation on not only client accounts but also CME collateral accounts! Ha ha! So thus you get "collateral damage"! Ah-ha-ha! I is teh clevur!)

But there's all those rumblings that Italian spreads are about to explode... technically Italy's debt is now unserviceable, at 6% yield.

I'm happy to have jumped on the DPM, AR and SBB trains just before they took off. DPM especially looks quite stunning right now... though SBB's also been strongishly moving upwardsish more often than not. Similarly I've dumped down my RIO to a small position, and same for XG (thankfully at a profit).

Anyway. I'm off at a site visit all day Friday. Now sure, I will have my Atrix with me, so I can watch the market, and even phone in to make trades by phone if I want... but it's so much easier to just sell down to a sleep level. So I've made a bunch of sells, most were profitable, I've made $7170 on the week (which is about 2.5%), and if the market pukes Friday my only regret will be that I'm not there to buy stuff at a discount.

My only funny move recently has been to buy an extra couple servings of Sulliden. Dunno why. Its chart almost looks like it's drawing a right shoulder, target of something like 80 cents. But as long as it stays above its EMA(8) it holds promise. Plus the guys on the bulletin boards say it's worth a lot.

Tuesday, November 1, 2011

Occupy Toronto video

Or Occupy Bay Street. Whatever.

I wanted to write a big long article, with stills, about what I don't like about this. But the freeze frames I've collected are filling up my hard drive. So let's just go by points.

1) Oh look, a Mohawk flag. Yes, justice must really be delivered sometime to a bunch of smugglers, drug-dealers and gun-runners who also just happen to be squatting on the land of the Hurons who they exterminated during the Beaver Wars. Fuck off.

2) Oh look. OPSEU. Other unions too. Yes, justice is really fought for by a bunch of highschool dropouts who vote themselves $25/hr to press a button in a fucking factory, and who then complain when they find out Thais can do the same work for $2. Fuck off you racist homophobic secretly-Conservative-voting fat lazy uneducated fucks.

3) "Decolonize Yourself". See that poster? Near the beginning. Oh great, there's a fucking pseudo-intellectual from York University who decides to bring a poster that will be understood by anyone who just happens to have studied Bell Hooks or post-colonialist theory. Fuck off you fucking pseud. And no you can't have a job because the Starbucks that was willing to pay a University grad in socialist gender studies $14/hr to pour coffee still has to pay for the glass you smashed up at G20, and nobody else will hire a long-haired smelly hippie like you.

4) Palestinian flags. Yes it's sad that you are oppressed by Israel and denied statehood. But it's probably because you're a bunch of screaming whining fuck-ups who are constantly performing actions that are counter-productive to your own best interests. If you'd instead campaign for full annexation of your lands into Israel, like Gwynne Dyer has suggested, you could have a Palestinian majority in an instant and I'm sure then the Israeli-Palestinian war would just go away. Take your fucking race war and get the fuck out of my country. You don't see me carrying signs demanding that Poland give Prussia and Silesia back to Germany, do you? Fuck off.

5) "This revolution will not be privatized!" Oh really? Revolution? Did you bring your gun? No? Fuck off you fucking pantywaist sissy hippie pretend pseud revolution dreamer. Go buy some more fucking Godspeed You Black Emperor records. That'll really make The Man quake in his boots. Got a gun license? No? Bring any weapons? No? Ready to actually fight the police the way you see them doing it in Greece and Italy, instead of crying like a little sissy baby or doing the wet noodle and accepting being put under arrest like some sort of idiot pretend Gandhi? No? Then fuck off.

6) "Arrest the 1%". Oh really? For what? I thought this whole thing was supposed to be about fixing the real problems and prosecuting real crimes. But no, you just want to "arrest the 1%"? Fuck off you stupid commie. Go back to writing passionate entreaties about Enver Hoxha for my local weekly communist rag. Oh wait it doesn't exist because communism collapsed and so their secret funding from the International dried up and then Hoxha got kicked out by his own people who now eat dirt and sticks because communism destroyed Albania. Fuck off.

7) Generally, YorkU hippies trying to look all officious and leadery. Hey hippies - fuck you. No seriously, fuck you. Get a fucking job like mine and spend ten years organizing projects and building things that contribute to the world and save lives; then maybe you'll have earned the right to lead something. Doesn't have to be an engineering company. Go join some volunteer thing and build wells in Africa. Whatever. Actually do something and contribute and learn how to be organized and effective and successful. Til then, fuck you and try broadening your horizons by taking something more than post-colonial gender studies you pathetic layabout fucks. PS oppressed women of colour in the developing world also think you're fucking losers who need to get real fucking jobs. Fuck off.

8) Hippie love hearts and love signs. Fuck you hippie.

9) Complaints about NAFTA. Again, see above, #2. Fuck off you whiny fucking unions. I am happy to see jobs go to Mexico. A Mexican lifting himself out off poverty is nice. A highschool dropout making $30/hr for pressing a button at Ford is evil. Fuck you.

10) People chanting "we are the 99%". Uh, no. You're the 1% of the 99% who were either radicalized through university, radicalized through hanging out with the Commie party (actually in Canada we have 2 commie parties. It seems the Marxists don't get along with the Marxist-Leninists. Seriously, we have 2 Commie parties in Canada who don't get along with each other), or are a special interest (Mohawk/Palestinian/unionist).

There are some good people here... some anti-Flamborough quarry signs, some anti-power plant signs, and so on. Some people, in other words, who actually have something real to complain about and voices that need to be heard. Nice big banner at 2:32 about how the 1% should be working in the public interest for the 99%: that's a statement worth making. "Tax cuts = wage cuts". Yes, that's true, sort of, not really, but empirically it seems to go that way.

But generally, I think I wouldn't be able to stand being around these people. I guess this Toronto protest is nothing more than the commies and YorkU pseuds, with maybe a few unions and Mohawks and Palestine-supporters mixed in on the first day to pad out the numbers.

Maybe, unlike the mainstream American, the mainstream Canadian really has nothing to be angry about?

Oh well.

markets collapse on nothing particularly related to Greece

Yeah, it's not Greece's fault. The country's a clusterfuck and we knew it already. G-Pap was just floating the idea of a referendum as a "back me or sack me" move, to get his parliament in line behind him - and guess what? Now they're going to sack him.

I think what really happened was, today the market crashed because of MF Globule. I've read somewhere that this morning the CME Traders woke up to an email that told them, starting today, all accounts cleared through MF Globule were set to "liquidation only". MF's a big boy on the CME, so that killed a whole lot of traders. And thus you get a commod crash, and because people see copper drop they get scared, and maybe that also kills the stock futures, and so you get a knock-on like today.

Yes, $VIX was up today, but not to the danger zone of last month. Risk-off plus one. Also USD was up, but not severely. So, risk-off plus two. But the gold miners?

Nope, sorry, I don't see "risk off" here.

It was scary this morning. People were puking everything into the bids. Um... just like they did in the beginning of October. But what was the final tally? $HUI still closed above the EMA(8). So to me that's a trend left unviolated... for now. RSI(8) barely hit 70 and has now retreated to neutral, which I guess should mean the overboughtliness has been worked off.

And even better, the dumb fucking cunts who puked out at 480, then bought back in last week cos they were missing the rush, then puked out again this morning, have (you've just gotta hope) learned their lessons with their "second time stupid" maneuver. Don't puke your fucking shares into the market every time you see something scary on ZeroHedge! Dumb cunts!

To me, that's way bullish. hopefully this is the last puke-athon we see for a while, and the junior miner investors finally clue in to the fact that you're supposed to hold your shitty penny stocks through a 50% loss! That's how we do things in junior mining!

Anyway... YRI and MFL closed up today, I think. As did BTO, um... a few others. I unfortunately am busy bag-holding a pile of XG for the time being, so I dumped a pile of RIO for north of $2.80 to cash back up. (RIO's not been moving much, and today's move up in price was on pretty pathetic volume so I'm not convinced there's a breakout around the corner.)

Then, seeing SBB back down to the price I had sold it for, I bought that little position back.

Other than that, boring day. Oh... GPM has only 3 bid prices left on book. Funny that, what with GUY heading back to $9. I wonder if I should put in a 0.5 cent bid for a million shares?

Monday, October 31, 2011

Now you know why the phrase is "anal yst"

From today's Morning Coffee:

"On Friday, a Bay Street analyst put a out a report on NCG stating, "The company currently trades at $89 EV/oz based on the current resource, or $51 EV/oz based on our minimum resource expectation in early 2012. The adjusted mean EV/oz for gold exploration and development companies that we track is currently $76. In our view North Country should be trading at a significant premium to the mean due to the exceptional exploration potential of the entire 300-kilometre Committee Bay belt, the superior grade (6 g/t) for an open pit project, low sovereign risk in Nunavut and strong, capable management."

Yeah... now go look up where Committee Bay is. Good luck heap-leaching on rocky permafrost during the 6 months of darkness known as "winter".

You might want to discount the project for that. Y'know... just a bit.

Sunday, October 30, 2011

sarcastic art

Whoops! Emailed GT to see if I was left off the Biiwii newsletter mailing list this week, then went and checked his blog. Ha! I forgot that those silly Americans just got hit with a brutal snowstorm! Ha! And me here in balmy Canada! I actually spent the day spreading compost! In my garden! Ha! Not dealing with the collapse of civilization due to 6 inches of snow! Ha!

Well, with the Schadenfreude out of the way, Let's post some funny photos from the Fark Photoshop Browser to while away the time. Then I guess I'll make some more guava vodka & sodas, then sit down and watch this week's QI (lovingly downloaded from The Pirate Bay, the way Stephen Fry would want it since he's such an internet geek).

By that time maybe Otto's NL will be out, whereupon I'll read it drunk, since after all I know what it's going to say - GOZ undervalued, REG 43-101 when hell freezes over, BTO blah blah Nicaragua blah blah niceness and charity, something about Klishtina not really assraping miners, and maybe some other stuff about his penny stock picks.

Frankly I'm happy that I'm finally starting to spread out a bit from his stable of stocks. Though in this all-boats-rise-together(-except-for-GOZ) environment, I guess it's hard to screw that up. But yeah... SBB, AMM, DNT, SUE, XG, and the others I've played recently aren't Otto recs, and that's good, it means I've broadened my horizons a bit. Frankly I'm more interested in reading his politics updates and his ever-sunny attitude towards Zinc, The "Six of Clubs" of Metals.

Anyway... so I'll forward the 2 NLs to my work email tonight so I can read them sober and maybe print them out (on company time and company paper, and yes they fucking let me because I just nabbed another $30,000 in fees for them last week).

In the meantime... the Fark Photoshop Browser.

"Out of work aliens":

Funny but true:

Scary clown convention: