Friday Fear Down 25 point-ohh
posted on
Dec 02, 2011 06:08PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
News flash for them. Had a meeting with another whale who said if the price drops 3 more cents he will start buying. He's going to watch the opening to see if he can bulk up. A buck thirteen is the magic number. He thinks we will get hit Monday if other smart investors shy away on the expected delay of the bfs. His group thinks we could see 90 cents and they want to buy while everyone else is selling. That means bigger holders like CIBC and BMO will continue to sell in advance of what they think will be a failed Dec. 9 EU meeting. Those affected by these swing need to think this over carefully. Those who don't care will probably ride it out.
There's speculation that the bfs is being written in stone because Teck may try to take advantage of us given the widely expected EU failure. There are people calling for an American style dithering while the ship sinks. Other say they are at the cliffs edge and fear for their jobs will compell them to do the jobs they get paid to do. With both sides of the coin present it's really hard to predict. I favour Merkel cracking the whip.
We have time to react if more cracks appear in the EU but there's strong support for the idea of a lot of selling. Fortune will favour the brave this time around because of the short window. CUU must get sold yet the company has done everything a guy would do if he was building a mine. The reason for this is if things take a real header we will be well poised to recover and be even more attractive for a take over. If you are planing for both that means you're not sure about Teck. Teck does appear to be fattening up for the planned action but they could also be getting ready for a failed monetary system.
We should know next week one way or the other. If we are not Nr'ed there will be tell tale signals. I expect part in parcel that the manipulators will have a heyday with this. I would love to see a flat down week instead of what I think will be huge swings ending really down. This in theory should be their last chance to rob people of their shares so it should be violent.
The Dec 9 meetings should cause a huge run for cover in the liquidity of the venture. If we see signs of that we will know that the majority feel the EU can't make a deal. In that case if you are weak then you should get out. Chances are you will be able to get back in cheap. If that fails to materialize then buy like crazy. That would also be the last chance to get more at this price.
Over the weekend I'll be doing research to see what direction the wind is going to blow for Monday. Fake crisis or not they can still damage a small share holder. What I'd really like to see is EU money get rattled and flee to us. I'll be looking for just that in my research.