Welcome To The Kimber Resources HUB On AGORACOM

Creating value through Exploration and Development in the Sierra Madre of Mexico

Free
Message: Hey D# one ....

"Maybe D-natural would work, too?"

Woo hoo, anywhere near the treble clef is good.

Just as you considered loosening up your buy points, KBX and gold in general graciously extended its hand down to you. Bing, GC limit order. Bing, another GC limit order. Unfortunately, KBX would not stop binging. High volume, a broken (if tentative) support at 1.12 broken. The best I can muster is, with sub 1,700 dollar gold, today could have been worse.

"... it often puzzles me when my juniors, who are far off from actual production, drop in sympathy when gold and/or silver tank."

Yep, and then they fail to rise meaningfully in concert WITH gold. My evolving thesis (which will fare better than Evolving Gold, I hope) is that juniors don't rise with POG -- they rise with the hope of an imminent break-out POG to come. It's a palpable "POG's gonna bust wide open!" anticipation, and THAT'S what seems to make KBX et al pop more than the POG.

When you rinse and repeat that pattern over years, you wind up with a KBX SP that fails to reflect the inchworm progress of gold.

What you wrote about Gartman made me laugh, as I thought about that all morning. "Long gold, short oil." Yikes, wrong on both fronts today. In Adami's defense, I think he referred to Silver Wheaton (which is my second largest personal holding and one of the few gainers I have).

Yeah, it took a four percent ding today, but I've seen SLW fall ten percent in a day. And based on this morning's silver, that's what could have happened. As JP discussed with the CEO recently, SLW is not as tethered to the price of silver as people assume.

So Adami's thoughts were ill-timed, but personally I'm not selling.

Proving again our parallel universes, I was forced again to trade ZSL this morning, and did so for a quick and satisfying twenty minute profit during cardio. I sold at about 8.75. Endued with confidence and self-congratulations, I exited the bike, looked up at CNBC ten minutes later and saw that it was 9.50.

ZSL is a palliative for me too. It's allowed me to stay in KBX. But ZSL is absolutely volitile. Please tread (and trade) carefully.

Lastly, are you watching TRX? That is another stock that should have been kee-rushed today given its dramatic appreciation of about 30% in the last two weeks. It dropped, but not as much as I thought it would. I bought towards the end of the day at 4.18.

Share
New Message
Please login to post a reply