Is The Worst Still To Come?
On August 15, 2009, Peter Grandich will be hosting a one-day investment conference. Seating is very limited and is expected to sell-out very fast. Only the first 75 paid attendees will be guaranteed seating.
The conference will be held at:
Knob Hill Country Club Manalapan NJ
Registration and continental breakfast 8:30AM to 9:30AM
Speakers 9:30AM -12:00PM
Lunch 12:00PM -1:00PM
Speakers 1:00PM to 2:30PM
Conference Ends
Speakers
Plus other special guests
Cost: $50 per person includes all meals.
Only checks and money orders drawn on a U.S. bank and payable to Peter Grandich can be accepted.
Please send check or money order to:
Peter Grandich
P.O. Box 243
Perrineville NJ 08535
Please include your name(s) address, phone # and email address. We will send an email confirmation to you.
Please Note – Mr. Scatigna hosts a widely listened to radio show and we expect more than our seating limit to response from his offer to attend starting next Sunday so I urge anyone interested to send check ASAP. This seminar will not be recorded.
Attention Golfers/Hackers – Anyone interested in playing golf with Peter the day before (August 14th) at Knob Hill should note it in their reservation or email Peter.
Peter, I would love to have made the seminar but I will be in Maine that week. I’m sure there are many others who would like to come but can’t. Has there been any thought in creating either a video or audio tape of the conference? I would gladly pay the $75 for the privledge of either.
I’m hoping one or the other can be made for those of us who so much enjoy the blog and want to learn even more. Let us know. Thanks.
Peter, what airport do we fly in on
Sorry…and where does a person stay
Peter, while reading Barrons Online Official Site this week, I clicked on an ad link there about FAP TURBO The Real Money Forex Robot which described an automatic robot forex trading system. Do you or does anyone else on your blog know anything about this system or have any experience with robot trading systems?
Is there any chance of a “webinar”?
Watch live or a video later?
Sorry but there won’t be any type of recording of the seminar.
Nearest Hotel’s are a Day’s Inn and Ramada Inn on Route 33 in Hightstown right off of exit 8 of the NJ Turnpike.
Klaus,
How are things going? I was wondering if you could give me a technical outlook on OPC right now. I am considering averaging down at the $1.70-$1.80 mark, if it gets there. This story is a mess right now and confused on what move to make next with it. Any insight would be greatly appreciated.
Thanks,
Ryan
David Frum: Canada well-positioned to benefit from Obamanomics:
http://network.nationalpost.com/np/blogs/fullcomment/archive/2009/06/28/david-frum-canada-well-positioned-to-benefit-from-obamanomics.aspx
Peter
would you ever consider hosting a teaching conference on the “grandich style” of reading technical charts?
Ryan, Right now, OPC looks technically horrible (if horrible could be a technical term). It was breaking down even before the financing fiasco. All companies in the “need to finance” category are vulnerable right now. Investors generally do not like dilution, especially if the offering price is significantly below the current share price. That said, it has good support in the $2.00-$1.75 area. I suspect it will drift into that range and stay there for a while. If that breaks down, I’d sell.
Just as a general principle, averaging down sometimes works, but it’s usually a bad idea. Before you do so, consider this question: Is this the best use of fresh money or are there better opportunities out there?
The overall market appears to be in consolidation/retrace/topping mode, which may last a month or two. I don’t know whether it will be a sideways or down move, but market internals went negative on Jun 16. When that happens, I start selling (since I own so many different stocks, selling for me is a process, not an event). Internals went back to positive last Friday, but there was an extraordinary amount of end-of-quarter window-dressing methinks, so I don’t trust the indicator. I’m going to continue to sell strength. If the internals stay positive into next week, I’ll go back to buying dips.
One final note: Last week the gold bugs index (HUI) put in a very bullish “3 white soldiers” candle formation. This may indicate that PM stocks have completed their pullback and may start a run very soon.
Klaus,
Thank you so much for your continued help. I see your point about putting fresh money into OPC and whether there are better positions. I will think about that. I have the outlook that gold is becoming a play. I am currently looking at CEE, AZG, NSU, and HGU as potential plays. What do you think of any of these, and do you have any other suggestions. I also am wondering if you follow ML at all, and if you have any insight into the weird trading action of that share price of late. Thanks again.
Ryan
Susan,
I have never seen or heard of a forex program that wasn’t essentially a scam.
Anyone else feel free to chime in; I certainly haven’t seen/heard of them all.
Roger.
Oops.
That should be Susie, not Susan.
Sorry,
Roger.
@Klaus and Ryan:
I very much agree with what Klaus said. I made two trades with OPC — one went great and a smaller one not so well — and followed it somewhat. Fundamentally OPC has been somewhat gutted by the sale of most of its assets to Nexgen; and the need for financing through share dilution is not a good sign; and the TSX suspended trading on OPC for a couple of days there (what’s up with that?); and I read somewhere that OPC has had to hedge itself by selling it’s oil at $75 a barrel, so that would limit upside gain as well if oil goes higher. I couldn’t find really anything positive in my research to counterbalance all this negativity, so I sold my shares and put them in a natural gas ETF (GAS on the TSX).
Thanks Roger for the clarification. I have problems just figuing out Scottrade not to mention any Forex!
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