K/kgc

[humble_pie]

nobody noticing another disaster, the costa kinrossia ?

cap'n tye schettino burt at the helm.
he won't jump, but they might push him.

[Homerhomer]

Never liked the company, Red Back is turning out to be a disaster, 20% haircut propably creates some buying opportunities but I will stay away, not for me.

[Toronto.gal]

Wow! Never followed this company, but I'll see if it's good for trading or maybe just stick to GBG. :cool:

Done really well with CDN stocks under $5, lol.

[al42]

Wow! Never followed this company, but I'll see if it's good for trading or maybe just stick to GBG. :cool:

Done really well with CDN stocks under $5, lol.


I've tried to trade this twice already and got burnt both times but I'm
itching to try again. I put a buy order in just below $10.00.

[Argonaut]

All the large caps have been bad investments, Kinross is the worst of the bunch. With gold it's all about the metal, or select juniors. I have my favourite and wouldn't invest in any other company.

Interestingly, Ron Paul has most of his networth in Canadian miners. Goldcorp is his biggest holding.

[Toronto.gal]

1. All the large caps have been bad investments
2. With gold it's all about the metal, or select juniors. I have my favourite
3. Interestingly, Ron Paul has most of his networth in Canadian miners. Goldcorp is his biggest holding.

1. You can say that again! Some juniors have ruled.
2. Which is? Mine are: YRI/G/ELD/GBG [in order of success]. :cool:
3. I know you like him, but I don't, so I don't care. :p

Oh, forget the question, I know. :)

[dogcom]

I bought Kinross on Friday thinking that their gold in the ground is being way underpriced. Of course they seem to be having those endless problems popping up like RIM so we will see if this turns out to be a value pick or not.

[dogcom]

I should have known you would be on this thread T.gal which for some reason I just saw it now, you are also a sucker for these destroyed larger companies.

[humble_pie]

yesterday reuters reported that at least 4 US law firms are investigating canadian miner Kinross for failing to disclose low-ore results at its tasiast mine in africa.

this follows on the heels of similar sudden low-ore announcements from nevsun, also with a property in africa.

and i'm remembering a similar story couple of years ago with small explorer victoria gold, which announced inaccurate ore estimates based on geological studies of its nevada property carried out by the mine's previous owner.

in every case, the ore bodies were deep & extremely difficult to explore. These 3 miners are reputable companies, so imho these are not stories of deception or false promotion such as frequently accompany many vancouver small miner scams.

i'm wondering whether the issues have more to do with difficulties in studying & eventually mining deep-lying ore bodies.

virtually all of the earth's easy surface petroleum & mineral resources have already been extracted. Fracking controversies, for example, have a lot to do with the deeply-buried layers of the gas-bearing shales.

where am i going with this ? only to say, in a note to myself, to be more diligent than ever when considering resource extraction companies. No investor is capable of analyzing the results, unless there happens to be a geologist in the family who has already visited the region. So it's necessary to dig up several reliable analysts & then put together their reports & comments before investing, i think.

[gibor]

Wow! Never followed this company, but I'll see if it's good for trading or maybe just stick to GBG. :cool:

Done really well with CDN stocks under $5, lol.

btw, T.gal, are you trading GBG? Looks like it has strong support at curent price, already 4-6 times GBG hit 0.89-0.9 and than rebounded....

[dogcom]

I did see that report after I had already bought humble pie and may have to dump it if the law suit is a problem. And you are so right about not knowing what the companies really have in the ground unless you are a geologist. I remember one analyst who is a geologist said that when the company he worked for went into the field with some bankers the company execs were lying about everything and the bankers didn't know it.

[Toronto.gal]

I should have known you would be on this thread T.gal which for some reason I just saw it now, you are also a sucker for these destroyed larger companies.

Howdie dogcom! I suppose we're CMF's 'vultures'. :D

But actually, I have never owned nor traded K [yet], but I have been watching it since hp started this thread [considering the drop from $13+ to $10+ this past month].

Al42: sorry for your bad experience, but you never give up, do you? :p

I agree with hp's comments, hence the reason I hold just one stock in this tricky sector [G] and trade others.

I'm assuming most of you remember and/or are familiar with the Bre-Ex scandal, but as we all know, it does not take a scandal for shares to sink, so yes, one needs to be extremely careful.

http://www.cbc.ca/news/background/gold/bre-x-timeline.html

[Toronto.gal]

btw, T.gal, are you trading GBG? Looks like it has strong support at curent price, already 4-6 times GBG hit 0.89-0.9 and than rebounded....

Sure am!

Had my best trade last month, selling all my shares & a good move it was as now shares are at near 52 week lows, so perhaps time to lock-in some shares for longer-term [but not recommending anyone follow me].

Behatzlacha. ;)

[gibor]

Sure am!

Had my best trade last month, selling all my shares & a good move it was as now shares are at near 52 week lows, so perhaps time to lock-in some shares for longer-term [but not recommending anyone follow me].

Behatzlacha. ;)

Gan lah :)
It's not simply 52 weeks low, it's 10 years low :D

[Toronto.gal]

I'm impressed gibor; you're ready to trade them chaver! :D

[gibor]

I'm impressed gibor; you're ready to trade them chaver! :D

Havera ;)! For me the problem to trade -> my work, yes, sometimes I can do , but sometimes I have to work :)
So if I buy something for trade intention, I try to buy something that I don't care to hold for a long term like G or SU.
With GBG it's a little more uncertain :rolleyes:

[GOB]

Sold a couple of Jan13 $9.00 puts for $1.00, about a 10% yield after commissions and if I get put my cost basis will be $8.11. Not a bad income play in my opinion.

Now that my account is larger thanks to AAPL I can start to make more of these income plays. I think I need to find a more options-friendly broker.

[avrex]

I think I need to find a more options-friendly broker.
Are you referring to fees?

[GOB]

Yes, fees are part of the problem. $10.95 for a cheap option is pretty steep and often keeps me out. Also a mobile platform would be great.

[Argonaut]

I often find myself hamstrung by the commissions on options in Questrade. Not necessarily to open a position but to close one. I'd rather eat a cactus than pay ~$25 to close a spread trade. The best broker for commissions is Interactive Brokers, but I don't know if I would trade enough every month to justify their minimum charges.

[moneyisfornothing]

are we there yet?:)

[dogcom]

Unless they come out with more crap then I think the stock has bottomed in its own world. Still however if the sector keeps dropping and the price of gold as well then it may still need to drop more.

[moneyisfornothing]

Unless they come out with more crap then I think the stock has bottomed in its own world. Still however if the sector keeps dropping and the price of gold as well then it may still need to drop more.

most gold stocks are in the tank atm.
like i mentioned in another post a 61.8% retracement on gold just ocurred today.
if it holds then there is a chance that gold stocks will rebound.
i personally think that the latest liquidation may not be over yet.
nevertheless i see solid support at 1550 level.

[dogcom]

I think K and most gold stocks are a buy today unless you think the Fed and everyone will get their debt problems solved. Most likely gold goes parabolic in line or just after the darkest days of the debt crisis and then heads for the dust bin for another 20 years or so.

At this time however it will probably be an up and down ride until summer and then gold will take off again in the summer, if it goes as it usually does.

[dogcom]

Just dumped G today for a nice profit and bought some K. I like G but I had to much money tied up into it, sort of the go big or go home thing. I just knew it was oversold and a rally would happen very soon so I went big. So I then purchased K to keep exposure to the sector and only used a quarter of what I had into G so I feel better about that. I know people would say that you can just have a 100 or 200 shares or whatever but I just like to own more then that when I go in.

[moneyisfornothing]

Just dumped G today for a nice profit and bought some K. I like G but I had to much money tied up into it, sort of the go big or go home thing. I just knew it was oversold and a rally would happen very soon so I went big. So I then purchased K to keep exposure to the sector and only used a quarter of what I had into G so I feel better about that. I know people would say that you can just have a 100 or 200 shares or whatever but I just like to own more then that when I go in.

rally was due to iran news.
not because stock was oversold.
GL anyway.

[dogcom]

When stocks are oversold and are in a bull market like gold still is since 2001 then buying oversold conditions will result in gains most of the time. So I knew any positive news or excuse would send gold stocks up and Iran just happened to be the trigger. When stocks are overbought the opposite will happen and any negative news will send them lower.

[moneyisfornothing]

When stocks are oversold and are in a bull market like gold still is since 2001 then buying oversold conditions will result in gains most of the time. So I knew any positive news or excuse would send gold stocks up and Iran just happened to be the trigger. When stocks are overbought the opposite will happen and any negative news will send them lower.

i surely agree with you dog.
like i said Fibo retracement achieved yesterday.
Iran pops and voila u have a major short covering rally on friday.
a massive spike on oil which retreated.
glad i was long oil since 105 area yesterday.
it hits the 105 level and i buy it.
then i ask you , why not GBG?:)

[dogcom]

GBG could pop here after the large volume blowout when I looked at the chart and it is oversold. I usually don't like to get into penny stocks however at this time of the year as they tend to do nothing until the summer or later in the fall. But if some big news comes out then sure it could go straight up and it is good if you are holding it of course in that case.

I don't follow the Fibo thing but I think it would be a good idea to add it to my tool kit as an extra measure to look at.

[moneyisfornothing]

GBG could pop here after the large volume blowout when I looked at the chart and it is oversold. I usually don't like to get into penny stocks however at this time of the year as they tend to do nothing until the summer or later in the fall. But if some big news comes out then sure it could go straight up and it is good if you are holding it of course in that case.

I don't follow the Fibo thing but I think it would be a good idea to add it to my tool kit as an extra measure to look at.


dog
the fibo tool cant hurt.
i use it frequently.
specially for gold and silver.
Oil not so much but it also works for oil.
in general it works for any equities /commoditties, even indexes.
as for GBG, sure it can rise but . it still is a penny stock right?