Monday, January 30, 2012

THE GREATEST DEPRESSION breaking news!!







"I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”


"As anger rises, riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.”


Should you listen to this voice? After all it is George Soros, the subject of many a conspircy theory. So of course take it for what its worth. I happen to believe that he is genuine with this prediction. We are entering an incredibly dangerous period in not only this nation but the entire global  system. A centrally  controlled ponzi that was constructed to benefit a power base designed for control of the world monetary system created a disparate wealth gap that is coming back to haunt them. Tremendous growth and technological developments propelled many nations forward over the past century but the last two decades saw a period of accelerating malinvestment in many developed nations. Instead of the newly created central bank fiat flowing into the hands of the most capable entrepreneurs and innovators.....it flowed into the hands of bloated mega-corporations and mega-banks. These hands were engaged in a systematic rape of the world's economic system. They were the worst form of  parasites....ones that KILLED their host.  As these mega-parasites grew in size and powere they continued to exert increasing control of the governmental levers that were designed to restrict their power and control to the point that THEY  were actually pulling the levers of government....even establishing their own bankers as the presidents of sovereign nations without even an election. 


A nation's government that has lost the confidence of its people will not survive. Arguing for continuation of the current crony capitalism has reached the state of absurdity. To compare this current state of affairs to free market capitalism is laughable. If you want to make that argument then by all means go ahead, but I suggest you go back and study WHY the first settlers that arrived on our shores on the Mayflower came. WHAT the system was that they left and what was being done to them. Refresh your history lesson and then note how history repeats.  WATCH THE VIDEO BELOW EMERGENCY





































Sunday, January 29, 2012

BACK TO ANALYSIS



With a little time to stop and look back at some charts this weekend and see where we've been some interesting points emerged. As many of you already know the reason that technical analysis is used  is to try and predict the future movement of markets based on past parameters principally price and volume. We have entered a very dangerous market phase now with liquidity being a primary time bomb for all participants but I still believe that time honored aspects of T/A have a role. 


What do these price movements represent? Are they a reflection of market mood? Do they reflect fundamentals? Let's look at fundamentals for just a moment. In early 2008 silver for instance was trading at $20/oz and many of the silver miners were trading 2-3 times their current levels with silver at $33/oz. So much for fundamentals.  Technical analysis holds that prices already reflect all such trends before investors are aware of them. Therefore using technical analysis should guarantee the investor superior returns over the fundamental market participants. Somehow that does not happen quite so easily. WHY NOT? Let's just employ a simple stock trading acronym KISS. This stands for Keep It Simple Stupid. In this case one needs to accept the simple principle that psychology is used to drive market prices......emotions primarily fear and greed are used as the battering rams on the sheep. Don't feel badly if you are a sheep. Most participants are. Its very hard not to be. These methods are time proven to be very effective. To fully understand just how controlled markets have been one only needs to do a review using key words of history of manipulated stock markets. Yes that's right....its a rigged casino. So what does that mean for us as sheep. One thing that we need to recognize is why a long term major participant like Jim Rogers calmly sits and smiles when asked about his investment strategy and readily admits that he is a terrible market timer. More correctly he is saying he doesn't care what the market does in the short term ....weeks and months.....He is more interested in longer term cycles and how they will affect his investing. This is still a form of technical analysis. Rogers knows very well that the shorter term market movements are designed to separate the most money from the most participants possible.  


This is why I try not to give a definite or definitive prediction on short term market moves....only probabilities of direction based upon the evidence available. The longer term cycles and longer term charts are your most reliable tools and when coupled with multiple fundamental factors provide a degree of confidence for your trades. Market psychology (Fear and Greed) will continue to be used on you even if you understand this.  So when you are told to separate your emotion, that is what is being referred to. That is very hard to do when you see your account down 60%. Just ask Jim Rogers back in 2008 during the crushing of commodities and precious metals how it felt. His response to that question in late 2008 was once again a smile and simple response that he was buying more at these cheap prices and they were still in a secular bull cycle. Today we still have the same fundamentals present which is more printed fiat must be generated to levitate the market.


Rogers knows very well as an insider what many of us have discovered over the years and that is the markets have always been rigged....its just that you didn't realize it before. Your job as an investor is to understand what the intention of that power is. For instance, where are we right now? What's the best guess? For one listen to what Ben Bernanke is telling you. He is telling you several things. The economy is terrible. How do you know that ...well in fedspeak he is telling you that for the foreseeable future things are so weak that he is guaranteeing interest rates to be locked in at virtually zero into late 2014. That absolutely fits with what we have talked about here for over three years now along the timeline of the Kondratieff economic cycle. He is telling you that we are entering the final deflationary phase. This means that he will be forced to print incredible amounts of fiat to keep us out of collapse this year. The fed also is trying to prop up their western governments with the printed money. At least through this U.S. election cycle. Watch the price of essentials food and energy and their effects on the stability of the governments. As this reaches maximum pain more nations will band together with currency swaps to avoid the dollar as the reserve currency and its deleterious effects on their economy and developing nation's economies. Then and only then will Ben be forced to pull his foot off the printer.


Meanwhile where are we in the game of price movements in the miners and precious metals? We may very well have hit a bottom. I am not all in just in case they decide to rip it down further, but I am hopeful we have seen a very tradeable  bottom. We have had an 8 month correction off the high in silver. This is no accident. Same 8 months as in 2008....and occurring within a secular bulll market already at ten years. The one caveat here and not to be overlooked is gold had only a 5 month correction. That should give you pause....but we are getting closer if it is not the end of the beatdown. This is why I try and hold a core just as Roger's basically does. I'm sure he trims positions as I do when things get frothy and adds as oversold conditions develop. He is not going to tip his hand other than to state the obvious. The obvious is nature. Nature demands a restoration of confidence and that requires a washout of the malinvestment. Gold and silver are money...they have been for thousands of years.  gl all





































this should bear watching with those volume moves













Friday, January 27, 2012

LAUNCH CONTROL T-MINUS 10

Everything going according to schedule. Multi-month takedown of gold and silver ...CHECK. Intermediate gold channel pierced shaking out the weak longs.....CHECK. Main stream media news stories daily proclaiming gold as a risk asset to the point of absurdity....with the obvious intent of telling a lie to the public often enough they will eventually believe it......CHECK. Use your two two principle market drivers to reap your profits ....FEAR AND GREED.......Greed as you drive the price of gold over into overbought levels breaking its weekly intermediate channel to the upside and dragging in the weak longs as you distribute our shares......and then Fear to shake loose the shares into your hands from the weak longs......just another day for the masters of the market that will always dominate the sheep's lives. Obviously this game has been going on longer than you or I have been alive and will continue, but you have to admire the efficiency of it.

NEXT........here's the game plan. IF and I emphasize IF we are now in a longer term uptrend for PMs then you need to be paying attention to the charts to see if higher highs and higher lows begin to form and adding to positions on pullbacks of your favorite miners. This will be a treacherous year to trade and playing in this casino will be punished if you guess wrong. On the other hand if you are wrong then remember.....   AM I HOLDING A STOCK OR COMMOD THAT ONE DAY WILL BE WORTH MUCH MORE?  If you cannot say that in this market then think twice before making those trades. I believe we just completed an important accumulation phase for PM miners and that we are going to have an excellent year. Just remember though......YOU ARE PLAYING CRAPS ON THE DECK OF THE TITANIC AS THE LIFE BOATS ARE LOADING.

from Jim Willie....."My sources inform that in November an important team was assembled, and funded to the hilt, with a mission to trample the gold cartel, to cause a failure in their attempts to deploy naked shorting in price suppression, to force them to cover their huge short positions in retreat, to oblige outsized drainage of the COMEX, to even induce them into draining the GLD exchange traded fund of its inventory from the backdoor."


























need a little pullback but buy on shortterm weakness



































please note gaps needing filled


























Wednesday, January 25, 2012

RELEASE THE KRAKEN!

Today's FOMC statement unleashes the dogs of hell upon the dreaded enemy of all bankers.....deflation. Anyone that believed the world's economies are recovering surely has figured it out now. Just as in 2007 when Ben was asked directly regarding housing and the economy (stating he saw no problems on the horizon), today was another exclamation of just how serious the problem is about to become (not that it is good now). When the Money Printer in Chief tells you that interest rates will be held to zero until late 2014 extending his previous time line by a full year.....then you better wake up and smell the coffee. Hell is coming and it is happening right now. Ben declared war on deflation but more importantly he is telling you Europe is about to explode. Greece will default by 75% soon......This still will not be enough for their solvency.....that is just how bad the situation is. What the banker's realize is the moral hazard they have created with the hundreds of trillions of derivatives is a ticking time bomb of unpredictability in an unwind of a default in not only Greece but Italy or Spain etc debt. They are scared to death and Ben just told you. IT IS THAT BAD! 


The problems with moral hazard is the unpredictability of their repercussions. However today's statement has some moral hazards that are VERY predictable. First of all precious metals have now been given a green light to invest in now. It doesn't mean they are going straight to the promiseland but for the long term holders of a core it means that you can add on weakness now. It is now possible to look forward to new highs this year in PMs and perhaps in the miners. In fact holding onto fiat now has been declared null and void by Ben. He was even quizzed at his own press conference today regarding the impact that his ZIRP policy would have on savers and with only some stuttering and hesitation he stated the impact would be minimal.........SERIOUSLY! ....Do you really expect anyone with half a brain to swallow that Ben?  Imagine trying to make it on CDs of 200K total with 1% return if you are 75 years old living on only SS and your savings. He knows this and that is just how bad things are in the global banking situation. We are unraveling and you and I are playing craps on the deck of the Titanic while they are lowering the lifeboats. I'm still hoping my retirement accounts make it through but I give it less than 50-50....If my timeline is right I "should" make it through this summer. It's a gamble.

I hope most of you have made some arrangements if things get tough. Food and water are simple enough. I won't advocate guns unless you are very familiar with them. My better advice is to concentrate on relationships with family and friends. These unions are more important for your benefit and theirs. Enjoy all of this internet information but realize your time is finite on this mother earth...so enjoy it and help others.

I'll publish charts tonight. And don't forget google chrome as your browser if you are having trouble reading the comments or commenting......and please comment.




watch for a couple days of consolidation on many of these then lets see what happens





















Tuesday, January 24, 2012

BUNKER TIME

Is it time for the bunker? I guess it may be time to think about it but don't forget we are in the final year of pretend so let's play the casino game a little longer. We can at least pretend if they are going to extend the game. Maybe you will get lucky and  win a few scraps for your family. Remember fiat is all about make believe. Its based on the ultimate CONfidence game. I spoke last night with an old aquaintance of mine last night that I had not talked to for at least a year or more. He was eager to solicit my opinion on the coming storm. He is a Cardiovascular surgeon and I always handle the general public with kid gloves when answering the more pointed questions but he was eager to here my opinion and immediately began to inject his own ideas and liinks that he had been reading. It was shocking to hear he was reading virtually all the same links most of us have been turned onto.....Alex Jones...Martin Armstrong....Kyle Bass ...etc... I wasn't able to stay on the phone long with him and curtailed our visit but left with a sense of dismay. If he had been that tuned in then what is happening out there with the general public now?

Could it be they are getting it? Maybe....but don't hold your breath. Islands of hope will spring eternal but reality will sober you quickly. Just look at the Republican primary if you have any doubt. People are actually bothering to vote for one of these clowns.... Seriously?....Like they are going to be better than the current puppet. You mean they can't see that the entire charade is to give you the illusion of "choice.  Which door do your choose? One....two....or three... Don't bother the same person is behind all of them. We give you all the MSM news outlets....but they all give the same choice....just wrapping it with a different bow.

Let's concentrate on the game right now and its accumulate the miners on weakness. If you are really smart you'll even stay out of that game and just buy physical gold and silver. Keep close to the game and don't get bunker mentality......at least not yet. Let them maneuver the middle east and eurozone all they wish......just remember they are constantly printing and QE has NEVER stopped. gl
   FOR THOSE HAVING TROUBLE COMMENTING.... DOWN LOAD GOOGLE CHROME AS YOUR BROWSER



also needs to get moving above green resistance here hmmm
this is looking even worse than last week!
many miners are sitting just below intermed resistance






if this holds on support here then i am impressed but if it breaks

Saturday, January 21, 2012

WEEKEND MUSE

Well here we are... almost a month into the new year. This is the last year of the "extend and pretend" period of the Grand Supercycle. As discussed previously these cycles contain allowance for politics and the Fed. If you haven't seen how closely intertwined this scheme is with these entities then you need to exit the paper market now and tell your wife you will not be gambling in the Great Casino again. Based on cycle theory this year has but one option to remain in a trading range without a collapse.....and that is monetization of debt. Not just any little ammount of monetization but an incredible ammount of printing is necessary. Of course this monetization is being disguised in various forms as we have seen....not just the announced "QE" that everyone is fixed on. We have had CONSTANT monetization since QE2. If we had not had worldwide monetization we would have collapsed in a complete liquidity crash. Everything you see today worldwide is being managed by the central bankers. Politicians are all technocrats for the Central Bankers...nothing else. Then there is Russia and China, waiting in the wings while the developed world struggles to find a way out of its current debt predicament. Make no mistake they are not passive as our MSM news experts would have you believe. They are biding their time and waiting for the debt bomb to explode. It would be bad enough if the debt bomb were the only bombs we had to worry about but of course this entire ponzi has used the global military industrial complex as a cash kitty to exploit the developing nation's resources and prop up their own international corporations. This is where the geo-political war games enter. It has been a multi-century game that has essentially maintained the same playbook. Clean out the treasury of said "designated" empire and end the supercycle AND said "designated" empire. Move on to the next supercycle chest board. Is this the current plan? I see no reason to expect otherwise. Great Britain was the last world empire and we are the current world empire in line for the guillotine by global bankers. Just one problem with the old playbook....nuclear weapons. Its the fly in the ointment. With just a few of these weapons a third rate military power becomes incredibly dangerous to the bullies on the block. It takes countries like North Korea and Pakistan and make them extremely dangerous if they get plugged into a conflict equation. It also makes them virtually IMMUNE from an invasion from another country....ie. the USA. Note the almost complete silence on North Korea from the war mongering neocons once they obtained nuclear weapons. I recall at least two test blasts from the North Koreans several years ago......These blasts were phoo-phooed by our monitors as very low level explosions an likely not really a bomb. I wondered if this was disinformation.....and I was correct. After those test blasts we have completely been silenced on provoking North Korea. Could you imagine a nuclear bomb launch on Japan or South Korea. There is no way we will provoke that unstable government now. Iran is an entirely different problem. It already had protection from Russia and China. For all of our bluster a conflict with Iran would be disastrous on so many levels so I don't see it happening. If it does then you can be assured this blog will be off the air...and survival mode will be all we care about. Now back to the business at hand. We cannot control this dangerous world but we at least have an idea what is in store for the global bankers and they must maintain liquidity or it is lights out...IMMEDIATELY. Right now the is NO CONfidence in the system currently in place so a resolution of the essential issues of unemployment and GDP is not even on the table. It will be monetization (printing) until the prices of essentials forces price collapse and overall deflation (coming next year) take over. If you choose not to participate no one can blame you and I hope you have a way to sustain yourself through the coming turmoil. gl....oh...btw miners will be fine this year.....I just don't know when.....hehehehe...but I do like what I see so far. I highly encourage you to go the 13.20 mark on the Keiser report and listen to the interview with Pollack...
Just a word on GBG...its been a beaten down Junior but its for real... Burnstone mine has 6.36 million Proven and Probable and 12.1 million Measured & Indicated resources. Mining costs are estimated at $450 per ounce. That is very cheap. In addition, GBG is developing the Hollister mine, part of the Carlin Trend, in Nevada. Hollister has 0.9 million Proven and Probable and 1.4 million Measured and Indicated resources at a mining cost of $527 per ounce. Hollister neighbors properties owned by Newmont and Barrick. The Hollister property also includes the Esmeralda Mill, which will improve recovery rates. Hollister additionally has an estimated 4.9 million P&P and 11.6 million M&I silver resources. DONT blow off the silver.

Friday, January 20, 2012

GOLDEN LAUNCH

Maybe we get the big move in the very near future......maybe not. But everyday that goes by it gets a little closer to a breakout. All of the doom just a few short weeks ago when gold was trying to break 1500......and crash to depression depths has faded into the sunset......maybe. One thing is certain ...the dip in gold and silver is being bought heavy by those accumulating the physical metal. A record number of Silver bullion coins were bought this month. Sprott just closed his purchase of an enormous ammount of physical silver. Go ahead....wait to buy physical metal....you may be right....I will not argue that prices could not take a dip lower. After all the PTB can manipulate the price with impunity. The problem with that is with the suppressed prices as they are the moral hazard that was feared by the PTB IS happening...and that is the cheap prices are not suppressing the physical buyers but INCREASING the buying. The hazard of clearing out the massive short positions in both metals has resulted in a surge in physical accumulation and that is not good for the PTB. The headline price of gold has always been suppressed to keep the almighty dollar the reserve go to currency. Gold's surging price is a threat to the dollars status as THE SAFE HAVEN. How does this play out? Only a guess of course but more than likely more of the same. Controlled increases in gold coupled with price suppression then surges only to met with more naked short suppression. In other words continued paper trading opportunities. The biggest problem for those of you trying to trade the miners is what happens when they have a similar run like they had in early 2011 or late 2010...you remember that don't you....when they ran off and left you as you tried to trade them for 3% gains...missing out on their 30% move. Just remember we are going to get one of these moves and it will move the weekly charts on the miners into overbought and into the upper longer term trading channel. It will be large and it will certainly be followed by another massive beatdown. Can you catch it?....I guess you'll find out. One thing is certain...with physical possession you have a lot better chance of succeeding. GL to all of you and I hope you registered your objection of SOPA to your reps....it won't do any good but what the heck......ya have ta try. For desert before I go......I will be picking up YCS.....short leverage on the Yen....its time to trade some currency.......and this pig is gonna pop.....more later on this today
Comments remain blocked unless you use google chrome or other browser etc...gl

Tuesday, January 17, 2012

QUITCHER CRYING

No one promised you this would be quick easy money. Maybe you thought it was going to be. Number one you probably suck as a trader. Recognize your weakness and use it to your advantage. Understand that the shorter term fluctuations in the casino are designed PURELY to relieve you of your money. When you take positions as a trader you have to believe in the longer term story in your position to hold on if you get caught in one of the much deeper corrections. These deep corrections are designed for heavily over-loaded boats. In other words they have to be deeper and longer to remove the majority of the weak hands and have them replaced by the stronger smart money. Perfect example was the Euro currency trade. Everyone and their brother was loaded on the short Euro trade last year. So what happened?? THEY held that trade in a very long descending wedge pattern that broke the back of the leveraged shorts and took as many out of that trade as possible. Once they were eliminated they floated the usual media stories that the Euro was going to 1.50 then took it down through the 1.40 baseline and cracked it like an egg. THEN as all the newbies jumped on as it broke 1.32 support they took it all the way back up above the baseline and WHOOOMPH....right back down to 1.27 today......THAT is how you clean the pipes on an overcrowded trade. If you follow the crowd then be prepared to suffer some pain. You are definitely in a crowded trade with precious metals....but its a lot less crowded now than it was a few months ago. That is what accumulation is all about. They cannot accumulate with newbie investors crowding into the trade so there MUST be a correction. Have we had that correction in PMs? ABSOLUTELY! Don't ignore what happened the past 8 months in the PM miner's stocks.....this was dramatic. You should have been accumulating on weakness and selling the rips. Now you should be accumulating on weakness with less selling on the rips as these miners reach these oversold levels. You may get some more weakness over the next couple of months but my core has been increased and if they do take it down hard again then adding and holding should not be feared. Ask yourself the question.....just where do you feel more comfortable right now investing? Use the KISS strategy in this market....KISS...is Keep It Simple Stupid. THEY are accumulating.......YOU accumulate. gl all
comments still impaired...use google chrome as a browser or use your delete browser function under safety

Monday, January 16, 2012

FEAR!


Terrible weekend news hits investors with waves of panic rolling through markets sending the indices to record bottoms. Sounds plausible after hearing that the rating agencies have down-graded most of the European sovereign debt and countries are massing off the Straits of Hormuz for a showdown for a final reckoning (to coin Doc Holliday). Yes my friends we are in...........CAN KICKING. That's right...the real power...the FED...is stretching this as far as they can and they still have some rubber on that band. Don't get too attached to the immediate crash scenario...BUT here is the qualifier...careful getting too comfortable on the upside. This year will be every bit as terrible as last year was if you are unable to adjust to the volatility.

Most major market corrections will occur quickly and dramatically to load up the shorts for the inevitable squeezes. If you are going to short with etfs then use the non-leveraged etfs and accumulate a position as we reach overbot conditions on the longer term weekly charts....like now....I use RWM SH.. Also I play with tiny TVIX here for fun....that is only for those of you that like to play with fire. I also play the leveraged DTO. I do this for the obvious reason that I feel the PTB must maintain oil under 100 this year....and I only play a very small ammount. THIS is pure gambling so always exercise caution.

The volume has become abysmal in the market which creates desperate conditions for the participants. As volatility and volume decreases floor traders are literally withering on the vine with pain.......This is all characteristic of a failed market...so be aware this can end very badly when we least expect it. I'll stay with the "hope" that we get our last cycle uplift through the majority of this year. If we see the expected push into election the WATCH OUT AFTERWARDS....ALL BETS ARE OFF..my guess is we will get predictions of a year end pump, but instead we'll get a year end dump.

Gold and silver is your trade. I'm in accumulation.........if you don't know how to play that game...get out now...but essentially it is you carefully add on dips and you sell a little on rips keeping a nice core slowly building. gl all

http://news.goldseek.com/ClifDroke/1326741300.php

http://www.zerohedge.com/news/sp-downgrades-efsf-aaa-aa-may-cut-more-if-sovereign-downgrades-continue





COMMENTS is still being locked out but you can comment with effort...sorry...PTB are dicks....anyway use google chrome...log in to google acct before trying to comment....OR delete browsing history before you try to comment.....or even trying to look at comments blocks you out.....gl all

Thursday, January 12, 2012

THE BIG PICTURE



What a war. No...not the Iran Faux war. The war between the deflationary forces and Ben's inflationary counter-attack. By now most of you recognize that "the game" depends upon convincing the public that the USD has value and at the same time getting the peeps to increase their spending and therefore increase the VELOCITY of MONEY. The velocity of money requires CONfidence that what you buy or INVEST in will be worth more money down the road and that you have enough CONfidence that the economy will grow and that YOU will have a job a year from now. Businesses are scared and individuals are scared. They believe they are being lied to. They believe that the recovery is NOT going to last and that the very people and system that created this massive meltdown have done NOTHING to substantially fix it. They believe that they were promised a rose garden three years ago and a pile of manure instead was delivered. The same people that gave us this hell are still in charged. Instead of a Perp walk for the miscreants and a system overhaul for all of the malinvestment inflicted on this country we get a new Simon Cowell American Idol look alike. We get the National Defense Authorization Act preparing our new digs for the next decade or two. The land of the free and the home of the brave is suddenly being looked at as a charade by people that ten years ago would never have dreamed of questioning their countries direction or values. Instead they are watching their Secretary of Treasure overseas begging China to join in promoting another war in their OWN BACKYARD. Can you imagine China's response to Timmy behind closed doors today. We should be trying to repair this mess and create jobs instead we are beating the drums of war.

There appears to be a chosen pathway for the bankers out of this morass so do not deviate from YOUR investment strategy. THIS year will be the attempt to print and monetize the debt propping up this teetering finacial system. The best guess is they hold off with the big guns until May or June for greatest election impact and then announce an all out frontal assault to stave off deflationary collapse and default. The dollar will begin a drop at that point with the all out print and you will see the attempt at reinflation of equities etc. This will be very bullish for stock and precious metal....PMs will probably recover a month or two before the print so watch out if you don't have a core. We are in sketchy times so stack your physical and get out of paper that you cannot afford to lose. gl all.

COMMENTS PROBLEMS: I apologize for the comments problems and my IT department is working on it but understand my department is small and cannot fight Google or whomever likes to pull this chit. For those that can click on safety and delete browser then they can log on to site and post comments...stay with the program and comment... we'll figure out a way.... I added word verification that may allow you to comment.....gl also use google chrome as your engine










Wednesday, January 11, 2012

WHAT THE HELL HAPPENED?




Hecla mining a 120 year old mining company just fell flat on its face. You can analyze the reason for an over 25% intraday drubbing but it really just boils down to technical damage and reaching the expected beatdown level of 4.50. It did overshoot intraday but closed well above it on the daily....4.61. Will it hold? Maybe. Who knows? So they closed a mine....the Silver Shaft at the Lucky Friday Mine, which has been closed since a rock burst in December, will be closed to remove built-up material in the shaft. Production at the mine is expected to resume in early 2013. As a result of the news, management lowered 2012 silver production estimates to 7 million ounces from 9.5 million ounces. So they lose a couple of million ounces of silver......IT AINT GOIN NOWHERE FOLKS!! What's next? My guess is that couple my expected pullback for the miners and this news and we could see a sub-3 price on HL withing the next few months. Did I buy today? Why yes I did...will I hold ALL the shares I bought? Maybe....I won't sell for a loss and if they don't make a trader for me I'll gladly hold and add depending on the charts and the overall miner and PM sector. Gotta take your licks and you can't predict these shenanigans in the PM mining sector. If you are holding then just realize you are still an investor and that time is on your side....eventually. If silver does move up this year you can bet that HL will start moving WAY before the Lucky mine reopens. I put up a weekly 6 year chart on HL for you to peruse...

Apologize for the comments section malfunction....I'm sure that it is "temporary"....hopefully it will allow comments to be put up today If you delete browsing history you can overide to do and view comments....


http://finance.yahoo.com/news/Feds-order-closure-accident-apf-665838406.html?x=0