I’ve decided to make DTO-NYSE $78 a formal buy recommendation for my model portfolio. Buy it up until the close with a $79 limit
More on this and gold’s great rally in this weekend’s update.
Agoracom Blog Home
Archive for July, 2009
New Buy Recommendation
Posted by
at 2:27 PM on Friday, July 31st, 2009
Very Short Term Trading Idea
Posted by
at 3:10 PM on Thursday, July 30th, 2009
This idea is strictly for high risk speculators who are looking for a trade that may end up being held for as little as a few days to a few weeks. This is not a model portfolio recommendation. I will follow-up when I would sell this trade idea.
I would use today’s bounce back in oil as a shorting opportunity with my target of oil in the 50s a goal. Buy DTO-NYSE at $83 up until the close with a $83.50 limit.
I’m Not Alone
Posted by
at 9:54 AM on Thursday, July 30th, 2009
Oil In The $50s
Posted by
at 8:08 AM on Thursday, July 30th, 2009
Oil broke below support yesterday of $64.40 if it can’t rally back above today $59 is the next downside target.
Taseko Mines – The Train Is Leaving The Station
Posted by
at 7:56 AM on Thursday, July 30th, 2009
Taseko Mines (TGB-Altnet $2.03) – The technical and fundamental outlook for TGB hasn’t looked this good in quite sometime. The stock appears ready for a move up to the $3.50 – $4 area in the next 6-12 months. ALL ABOARD!!!
Bravo Chris!
Posted by
at 7:27 AM on Thursday, July 30th, 2009
While I never felt gold was manipulated to the extreme some do within the GATA (www.gata.org) community, I do believe their principle argument was correct. No one makes that argument better than Chris Powell of GATA. Chris is a true gentleman who I always look forward to being in his company.
Chris penned this letter yesterday. I couldn’t agree with it more. Mr. Gartman is one of two horrific performing gold forecasters who the financial media has made into false prophets. We all make wrong predictions but when one is constantly wrong but is never taken to task for such poor performance, it leads many people over the cliff with them.
This is not jealousy or envy on my part but just another factor I’ve learned in over 25 years in this business and believe understanding it for what it is will help readers avoid or lessen losses.
I agree with Chris that Mr. Gartman was not showing any real humbleness. I believe he spoke because his poor performance was impacting his business and not just limited to gold. Because he seems to thrive on attention (IMHO from the times I shared a stage with him or heard him I found him to be a man with a big ego), I believe this so-called “confession” would not receive absolution in my church. To think his opinion was so popular that his own advice was sabotaging his performance is really just another part of his inflated ego.
Thanks Chris for your keen observation and the work you and GATA does for a market that is clearly manipulated and maybe more than I had up until now felt.
You Tell Them Glenn!
Posted by
at 3:44 PM on Wednesday, July 29th, 2009
This will certainly get the left and far left folks who have found their way here hairs up.
Glenn Beck is 100% spot on in his comments today(listen to audio). Never has our government and the President been in a position to impact so many lives and financial futures in a very negative way as it is now.
Don’t waste even a moment on wondering why this isn’t the universal opinion. Our mainstream media is heavily-tilted towards the left and is going to do all it can to drive the Glenn Beck’s of the world into the ground. But as God as my witness, America is now on the road to social, economic, political and spiritual upheaval unlike anything it’s ever known.
Adversity does create opportunity so stay tuned.
Defensive Great Passes Away
Posted by
at 7:25 AM on Wednesday, July 29th, 2009
It’s fair to call me a “Philly-fan hater.” No group of sports fans come close to the poor behavior Philly fans are known for. However, they were blessed with one of the true, few great defensive minds in the NFL, Coach Jim Johnson. Coach Johnson passed away yesterday from cancer. As someone who has been privy to know what opposing teams, players and former players think about a team and an individual, I can tell you no defensive coordinator received more praise than Coach Johnson.
PG with NY Yankees Brian Bruney in PG office.
Update
Posted by
at 9:26 PM on Tuesday, July 28th, 2009
Once again it appears I must tell those who feel a need to defend me for some reason that while I appreciate the thought, it’s not necessary. We’ve 30,000+ readers so know I won’t lose sleep if one or a handful of people choose to use the blog in a manner that appears unbecoming to me. I trust the vast majority of viewers have the ability to judge for themselves and aren’t going to be dependent on a friend or foe of mine to make up their mind.
I do want to note that in very rare cases (I believe just 3 posters since we began the blog), I have had to remove or prevent posts that we believe are not worthy of publication. That’s our right of which thankfully has allow 99.999% of all posts written to be posted.
Gold ($937) – It may sound strange to some but today was a great day for gold. What’s that Peter? Yes, today further the bullish case IMHO. How you ask? Bearishness has now spread to the usual bullish public segment of the market. Even very bullish forecasters like a man I respect greatly have turned bearish or are now looking for a serious correction. All this while gold is at one of its all-time high trading ranges. This is exactly what happens in secular bull markets and just before another major leg up.
To those who say the bull market in gold is over
I updated our model portfolio.
I want to note Taseko Mines had a tremendously bullish technical trading day. Barring a sharp sell-off in the metals and stock market, Taseko looks like its heading much higher.
In regards to Continental Minerals and questions about takeover and merger talk, all I can say at this time is it would come as no surprise to me that a company or companies made a run at KMK and/or looked to buy a significant stake. I purchased more shares today.
More chatter that continues to lead me to believe the Iran/Israel situation is moving close, not further away, from a confrontation.
We’re less than three weeks from our Jersey Shore conference. I look forward to meeting many of you there.
Please Note - Oromin Explorations will no longer be a client of Grandich Publications as of August 1st. I wish them well.
