I hear ya EZ. To be honest i reckon the only thing holding them back now is the fact i'm shareholder.
My record is not that hot.
Mine's not that good either (no pun intended). But shares are only a part of my investments.
GEL has been a bit up and down all right. On the Canadian market, many have come to put a strong link for that to Brent Cook's paid newsletter. The comments inside it are fiercely guarded on the internet. Brent has recently put a sell notice on GEL and CTG, and in GEL's case he held the share for 18 months, and helped out with some PR work over here.
Some on Stockhouse argue that Mr Cook is in a prime position to profit from picking up (and then dropping) small-cap shares in advance of the newsletter, and perhaps buying after the havoc that resulted from a sell recommendation. He has some kind of a policy in place about that, but it is far from clear.
Oceansun on Stockhouse, the CTG thread:
I for one very much welcome and enjoy Sams posts on this and the GEL board. I don't think you can discuss CTG or GEL stocks at this point without including in the discussion the huge impact Brent Cook and his readers have had on both stocks. If you own shares in any of the stocks in his portfolio you darn well better be prepared for the day the share price is cut in half or worse as a direct result of comments made in the letter. So yes, Brent Cook has to be a large part of the conversation when discussing these stocks. In the cases of CTG and GEL shareholders can actually rest a little easier knowing that the Cook factor has now been removed from the situation (at least for now) .
Read more at http://www.stockhouse.com/bullboards...zlCW7ZOMqrJ.99
A poster kbCook (who I'd expect is Brent Cook), put up a rare post on Stockhouse on 14th February explaining what he'd said in the subscriber newsletter about GEL and another share (CTG).
The EI Newsletter comes out on Sundays apparently, so 10th February, and the first trading day would have been 11th February. You can see the effect on the shares. It was much worse for CTG percentage-wise, because GEL had just announced another PP, and the shareprice had already dropped down to its lower level.
no announcement today...and break for the long weekend so hopefully we hear something on tuesday next week when the market reopens...unless elzorro would you know if they would release it on the canadian exchange first? so overnight tonight our time?
no announcement today...and break for the long weekend so hopefully we hear something on tuesday next week when the market reopens...unless elzorro would you know if they would release it on the canadian exchange first? so overnight tonight our time?
I don't know. Last year they met the end of March, but I'd commented then that this was up to a month earlier than usual. Maybe they're allowed until sometime in April to complete the reports. It's a long time between info points, when that is exactly what they said they'll be doing better at in 2013.. how about throwing us some crumbs Simon?
I thought it might be interesting to go back and see what happened when Brent Cook first reported both CTG and GEL as buys for his own investments. Both shares are fairly small Mcaps, under about $40mill generally. You can see from the charts that in both cases there was an uncanny boost in the share price at the time. I didn't have a clue what caused it for GEL back then. For CTG it was on March 11 2011, and for GEL it was around July 2011. The pattern from then on was the same: a great price increase on the share, a peak and a drop, followed by some bursts as good press results came out, and then a drift back below the start point, followed by a sell result. Some of Brent's other picks had great results in the interim, some gains over 300% p.a, giving him a good average for the year.
I bet there is one thing in common with his junior picks: a price ramp on the first buy mention.
soooooo much waiting, anticipating... although they haven't even released an update on the weekly placer production, they said they would be hoping to break to 200 oz barrier by this time, wonder how thats going????
Can I ask what other holdings you have elz? is it mainly mining? natural resource companies?
yeh just reading on huff post about the decline of the price of gold, aparently cyprus is looking at a possible sell off of its bullion...not good if that happens!
may as well increase my take at this price (and lower my average purchase price because all this red is making me depressed)
I'd wait a day or two mate, gold isn't done declining yet as this was the single biggest trading day on record. You're looking for a steep decline followed by sharp rally late in the day on the NY Comex. I believe $1295 (50% Fibonnacii retracement) may be tested and possibly broken through. Buying right now is not the smartest idea, wait until sanity returns to the market!
Looks like Warren Buffetf is proven right again - gold has no real economic value beyond its emotional appeal?
1. “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”
2. “The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you….it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.”
3. “Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything."
Looks like Warren Buffetf is proven right again - gold has no real economic value beyond its emotional appeal?
1. “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”
2. “The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you….it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.”
3. “Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything."
Balance you are a person of two personalities.Generally you produce junk about NZO but just in the last two days are coming across as a well balanced poster [pun intended]. This above quote is in every way correct and it would be hard to put up a case against it. It does however not cover the human side enought. Sure gold is mostly useless and produces almost nothing and cost a lot to produce and guard.Humans are strange animals and for about ten thousand years we have decided gold is valuable so no Balance arguement no matter how reasonable is going to change that.Fortunes have been made and lost on gold since we invented the need for a means of exchange and that stays the same into whatever future humans made for themselves. Surely Balance you are not suggesting we entirely embrace the fait paper currencies we exchange goods with today.I am not in any way suggesting you are but by saying it that way it does show the problem we humans have to find some way to agree of value in our exchange. To me gold is certainly as good as any other means of exchange. Can you imagine a QE3 on gold????
These are points that you might make on a GOLD thread Balance, and the answers will be a bit different there.
Gold does have a lot of use as a near-perfect conductor that doesn't tarnish, and of course another big use in jewelry. Gold is often mined in association with other metals like Mercury, Silver, Copper, Tin, and so while it's a most valuable byproduct, the bulk of the minerals mined in a gold mine could easily be the more commonly used copper, for wiring etc. The mines themselves, the exploration, the funding, are all big employers worldwide, so that's another positive.
No-one can deny that the basic purchase of some gold 10-12 years ago wouldn't have been a great investment, compared to many so-called productive investments and financial instruments. Gold isn't getting any cheaper to recover either. It's a proxy for the cost of energy, and also related to the the amount of foreign investments in US Treasuries. Maybe the Chinese have found a way to increase their gold holdings at a special rate, good on them. But I can't see that gold will stay down and out for long, and it's always recovered to make new US$ highs.
Originally Posted by ynot
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