February « 2009 « Grandich's Blog

Archive for February, 2009

New Recommendation and Some Thoughts for a Thursday Afternoon

Posted by Peter Grandich at 6:28 PM on Thursday, February 26th, 2009

I’m adding Central Fund of Canada (CEF $11.80 Trades Alternet and TSX) to my model portfolio. The last few days IMHO may be the last great buying opportunity for gold and silver in the months to come. While CEF trades at a premium to its NAV, it’s a good way for investors to have exposure to gold and silver bullion.

On a side note, I found the fact that mining shares finished up today and have remained strong versus the decline in gold and silver, a very encouraging sign that gold and silver should resume their rally starting tomorrow.

Like it or not, I think the new administration and the Democrats have made the problems left at their doorstep far worse. I could type for the next 24 hours and not do justice for how more concerned I am for America. Sorry to those who believe otherwise but from the very first post on this blog, it’s been my intentions to express myself openly and accept criticism. I believe America is becoming more divided versus coming together. More on this in my “closet” commentary this weekend.

Despite being grossly oversold, the stock market can’t hold onto gains and sell-off towards the end of the day. This is very bearish. No government has ever been able to spend its way out of financial trouble. This government will be no different and I think people are starting to grasp that despite hoping beyond hope this time it can be different. The long end of the Treasury market looks like its about to break down. Just last week, the cost of insuring U.S. debt hit a record.

The next big financial meltdown?

Look for Israel and Iran to become a “hot” topic by summer if not sooner. I’m sorry to say but IMHO, it’s not a question of if but when.

WHAT A LADY !!!!!

The election is over. It is time to repair friendships with the other party. Governor Sarah Palin is doing her part to do just that.

The rest of the world cannot understand how, after bitter election campaigns, American politicians can kiss and make-up.

For instance, Gov. Palin has invited, to her great state of Alaska, the men who defeated her, Barack Obama and Joe Biden. She has set up a moose hunting trip for their enjoyment and hired three prominent experts in their field to assist them.

Dick Cheney will lead them on the hunt, Ted Kennedy will drive them back to their cabins each evening, and Bill Clinton will entertain their wives and daughters while the hunters are afield.

That Sarah is such a sport and thinks of everything!

Posted in All Posts, Exploration Shares, Gold, Mining Shares, Oil, Precious Metals, Silver, U.S. Economy, US Dollar, US Stocks, world economy | 4 Comments »

Northern Dynasty Minerals Presentation

Posted by Peter Grandich at 10:35 AM on Thursday, February 26th, 2009

Audio

Posted in All Posts, Base Metals, Copper, Exploration Shares, Gold, Mining Shares, Northern Dynasty, Precious Metals, US Stocks | 6 Comments »

Rumor- Peter Grandich to Come Out of the Closet This Weekend

Posted by Peter Grandich at 10:29 AM on Thursday, February 26th, 2009

Now before you jump to conclusion, it’s not the closet that first popped in your mind. But I will tell you this, it will make some of you uneasy and likely upset. But I know now it’s something I must do. Stay tuned.

The more things evolve, the more I know David Walker is right. The United States is the world’s biggest debt junkie and Obama is the new kingpin dealer. My God!!! Does anyone realize what we’re doing to the future of this country? This new budget is just another log on the debt fire that’s burning out of control

Now I know why I never liked Matt Lauer. He’s is definitely a soldier in the “Don’t Worry, Be Happy” crowd. Rick Santelli continues to be targeted for speaking about what I know the vast majority of Americans feel.

Posted in A Grandich Company, All Posts, U.S. Economy, US Dollar, US Stocks, world economy | 28 Comments »

Donner Metals Update

Posted by Peter Grandich at 9:52 AM on Thursday, February 26th, 2009

It’s very frustrating to watch a junior do all the right things, have a strong chance to become a significant producer and see the share price at pennies a share. Dave Patterson and Harvey keats are among the hardest working people I know in the junior resource business. IMHO, if not for the junior market crashing, this type of news would have the share price trading at multiples from where it is now.

Posted in A Grandich Company, All Posts, Donner Metals | 4 Comments »

Rick Santelli – A Marked Man

Posted by Peter Grandich at 8:40 PM on Wednesday, February 25th, 2009

I’ve made it clear as day that despite my distaste for CNBC-TV and the great disservice it does to its viewers, Rick Santelli was one of only two reasons to turn the sound on while watching. That’s why it came as no surprise that he had not only the guts to express himself live, but has been attacked ever since. The “Don’t Worry, Be Happy” army has been badly wounded. However, they still do all they can to overshadow any disagreeing voices.

Think about it, the President’s press secretary literally made a veiled threat against him. Chris Matthews did all he could to throw Rick under the bus. Thanfully, the vast majority of people have rallied around Rick

Remember, Booyah will Kill Ya!

Hooray Fox

And if you have any reason to watch Booyah Clown for anything more than a laugh (and not what to do), watch this

Posted in A Grandich Company, All Posts | 6 Comments »

Oil, Dollar and Gold

Posted by Peter Grandich at 7:37 PM on Wednesday, February 25th, 2009

One’s bottoming, one’s topping and one’s consolidating. Can you guess which is which?

Give yourself a cigar if you said oil, U.S. Dollar and gold.

The 50-Day Moving Average is just pennies away ($42.50). A close above it could bring in some technical buying. Some early signs of peak supply is showing up and with more people believing OPEC is living up to its quota’s, the mid $30’s look more and more like the bottom.

We’re at one of the more critical technical points in quite some time. We either have a triple top just above 88 or a major breakout above 90. Because I’m so bearish long-term, I’m currently positioned on the short side. A break above 90 will cause me to rethink my position. Stay tuned.

The magical $1,000 level has for now proven to be just a news story. I, myself, received several requests for interviews and comments last Friday on $1,000 gold from media people who don’t normally cover gold. This suggested to me that we got a little ahead of ourselves. The $925-$950 area should be the limit to this consolidation. Don’t be surprised if we shoot above $1,000 in the coming days.

Posted in A Grandich Company, All Posts, Gold, Mining Shares, Oil, Precious Metals, Silver, U.S. Economy, US Dollar, US Stocks, world economy | 12 Comments »

Update Part 2

Posted by Peter Grandich at 7:04 PM on Wednesday, February 25th, 2009

I’ve stated that shorting the 20yr and 30yr Treasury Bonds are no-brainers. We’re not suppose to guarantee anything but death and taxes but if we could do a third, it would be this play.

I think we’re about to break below 125 and test at least 112 before years-end. Never have so many countries been in such bad shape and in need of borrowing money at the same time. The only two questions are:

Who the heck do they borrow from (not each other)?
What higher interest rate will they need to pay in order to be competitive?

You’ve to admit one thing about Washington; they can make you laugh and cry at the same time. No sooner do they push into law the biggest ever “spending” bill, but then they “swear” they’re going to cut the deficit. It be hilarious if it wasn’t so sad.

Posted in A Grandich Company, All Posts, U.S. Economy, world economy | 2 Comments »

Update

Posted by Peter Grandich at 6:03 PM on Wednesday, February 25th, 2009

Like it or not, President Obama could sell ice in the winter. The man is a superb speaker and oozes charm. I’m convinced that his ability to woo the majority has kept us from falling into the abyss. Yes, some have managed to chip away at his armor and expose his lack of depth. Unfortunately (or fortunately depending on how you look at it), despite many Americans at least partially aware of the dire circumstances surrounding them, they still are hanging on to the hope President Obama is the 21st century Superman. Me? I think the kryptonite will surround him before too long.

U.S. Stock Market

I spoke about a 15 year+ uptrend line around DJIA 7200. While we went through it on Monday, we since bounced back above it. The market is deeply oversold and one could look for a rally but the close today was a little ugly. The most likely scenario (but when does the market do the most likely) is we consolidate recent sharp losses and let the market work off this deeply oversold condition. When the “Happy” campers poke their bandage heads out from the foxholes and CNBC runs to cover them as usual, we’ll know another leg down is near. Meanwhile, sit back and enjoy another bull meat feast.

More to Come

Posted in A Grandich Company, All Posts, U.S. Economy, US Stocks, world economy | 3 Comments »

Oh Canada!

Posted by Peter Grandich at 9:35 AM on Tuesday, February 24th, 2009

I’ve stated that if and when I get back in on the long side of equities, the Canadian banks are likely to be among my first stock selections. I love getting long the Loonie here as I see parity in next two years. Watch video

Posted in A Grandich Company, All Posts | 25 Comments »

Update from Phoenix

Posted by Peter Grandich at 9:27 PM on Monday, February 23rd, 2009

I was out on the golf course and had a great round, especially in the bar.

What can I say without repeating what I’ve already said since October 2007. It’s amazing how bearish things are that a 15-year uptrend line can’t even offer more than a couple of hours of support. A one day violation is allowed in technical analysis but will it matter in the days and weeks ahead?

I can’t imagine what the “Don’t Worry, Be Happy” crowd is saying these days. Knowing how many people’s lives have forever been changed for the worse, I truly don’t know how these “Happy” people go to sleep each night knowing all their b.s. has proved to be the worse possible advice.

I’m flying home tomorrow (barring the world doesn’t implode in Asia and Europe overnight).

No changes since last update.

This one computer has crashed twice already so I’ll be glad to be back home tomorrow evening.

Until then, thank God we avoided the “Don’t Worry, Be Happy” crowd. I suspect they will be having many new membership drives in the coming months.

Posted in All Posts | 17 Comments »

Grandich's Blog