Medusa Share Discussion Threads

[ilostthelot] 21/4/2016 11:00

Gold looking poised for a breakout higher! Should see $1300 soon - I hope.
This mine review is taking longer than we were told ,hopefully it'll be worth the wait.

[chipperfrd] 20/4/2016 19:04

Just for idle conjecture. Given that Comex can cash settle outstanding contracts, I thought it might be informative to put a cash value on some of this paper as of 12th April.

Open Interest GOLD ~ US$62.0b
Commercial Net Short GOLD ~ US$28.5b
Open Interest SILVER ~ US$15.0b
Commercial Net Short SILVER ~ US$5.9b

Perhaps not too much of a problem for these large banks. After all they have collectively paid c. US$200b in fines for criminal activity in lots of other areas, so why would they consider cash settling Comex contracts as anything other than the cost of doing their business/(malfeasance)!
Chip

[ilostthelot] 20/4/2016 18:31

A short squeeze on silver would be nice wouldn't it. Gold seems to be stuck at this 1250 range for a while now.
A breakout of 1265 would see Medusa up over the A$.

[chipperfrd] 19/4/2016 10:38

The Comex commercials were net short 11,262 tonnes of silver contracts at the last COT report a week ago. The previous 5-year high was 12,012 tonnes on 22nd March. I am certainly interested to see what lengths they may have to go to to create enough paper supply to cap this latest rise in silver - or are they already having to curb/close some of this extreme! Actual mine production is only c. 27,000tpa.
Chip

[chipperfrd] 19/4/2016 10:09

Yes, quite satisfying to see Silver jump above 16.36 which is an important TA level. Also happy to see a decent improvement year-to-date as I have been accumulating the metal since 2013.
Chip

[nielsc] 19/4/2016 09:18

I see that silver is now at a 2 month high. Wonder if gold is going to follow suit shortly?Cheers,Niels

[bluelynx] 18/4/2016 19:38

Thanks Chip, but there not the slightest chance that my basic investment system can remotely compare to your highly analytical and value based investment method, which I could only dream of matching.

If it were not for a massive hit on Rubicon Minerals, a 95% loss, which I heavily averaged down on, I would feel just a little bit happier with my investment method! LOL.

May be I will look into a little bit of trading in ASX and TSX stocks, I will just have to put some funds into my TD Direct trader account so I can hold foreign currencies which I can't hold in my ISA.

All the best

BL

[chipperfrd] 18/4/2016 19:13

BL

Well done! Sounds like you had a better plan than myself. Although I did need to fund some very large cash items for my family in 2011, so have to rebuild all that as well in order to get back to the heights of 2011.

I appreciate what you are saying about trading the TSX/ASX stocks. I feel much the same so have tended to focus my trading activities on the LSE. However, there does (IMO) appear to be some good upside on those other markets so I am increasingly considering taking a more pro-active trading stance. It is somewhat easier for me to do that on the NYSE so perhaps that can be my short-term focus in addition to the LSE, but it does limit the choice somewhat.

Good fortune.
Chip

[bluelynx] 18/4/2016 18:58

Hi Chip

I have not been trading like yourself, wish I had done so, but my stocks are mostly TSX listed in my ISA therefore dealing costs and especially currency transfer costs are far too high to trade. But you have done excellently to make such large trading profits over the last two years, well done.

I just took profits on half of my gold and silver miners back in 2009-11 and put the cash into Blue Chips companies, then gradually as the gold price fell I reinvested back into cheap gold and silver shares.

But I must say gold and silver miners were crushed down to levels that quite amazed me, but I was relatively confident that eventually they would rebound from very over sold levels, so I just resigned myself to quite large paper losses. But now I just require a 50% gain to be at my all-time high gains of 2011. Which should be achievable if gold continues to move up and above $1,400. Let's hope it does for all us gold Bulls.

BL

[chipperfrd] 18/4/2016 14:59

4marlin

All the best to you too!

I have actually been taking profits today from one UK-listed stock but I did place an order for Sovereigns as well. So a bit of both!

Good fortune
Chip

[4marlin] 18/4/2016 14:05

Indeed,

I am 'all in' wrt precious metals and trying to raise more funds soonest.

All the best!

[chipperfrd] 18/4/2016 12:51

4marlin

Let us hope so (although 'hope' is not something that I would put any store by in reference to the stock market!).

The LBMA would appear to be in serious trouble over the DB revelations and may well decline as the global PM hub from now on - difficult to see how else one can read that particular situation!

The SGE Yuan gold fix is due to start tomorrow. Probably it will have minimal initial impact but must surely grow in importance over time. It will likely provide clear arbitrage against the COMEX which, of course, the LBMA never did.

We live in interesting times!
Chip

[4marlin] 18/4/2016 12:27

I think that the ride will be spectacular.

[chipperfrd] 18/4/2016 12:14

BL

It sounds like you and I have been doing the same thing during the market decline.

Still managed to gain 25% upside on my PM trading portfolio over 2015 and have already exceeded my 2016 target of 25%. So not too bad considering the dire sentiment that has prevailed.

Given the numerous positive issues pointing to a probability of PMs upside and the consequential benefits to the bottom-line for the producers, I am expecting a somewhat easier ride over the next few years. Time will tell!
Chip

[bluelynx] 17/4/2016 17:58

Atlantic

I would say you haven't done that badly, you never lost any of you own capital just profits. Only three months ago I had a 20% loss of my own capital. So all is relative. Let's just hope that gold can continue its bull market trend, the HUI and GDX indexes current strength seem to suggest that gold looks good for more positive progress.

All the best

BL

[atlantic57] 17/4/2016 16:35

Hi Blue,
Yes I agree with your analysis.
Decimation of funds means I am in medusa and shanta at a modest level.
Medusa has done very well but a persistent seller at shanta has meant that progress has not been made.

Cheers
S

[deka1] 17/4/2016 13:20

Shanghai exchange opens Tuesday , will we see a bit of a run up in the POG,

[bluelynx] 17/4/2016 11:49

Hi altlantic

I'm OK, I hope you are doing similar,

I tend to still be a confirmed gold bull I tend to believe what the so called "gold bull writers" say. True the last 5 years has been a painful experiance. But I have taken the opportunity to slowly accumulate gold mining shares at very cheap prices, and in the the last 3 months my shares have increased by over 100%.

All the indications were pointing to the gold price increasing what with massive QE, ZIRP etc but the FED has somehow convinced investors that the markets/economies were/are set to improve as a result of all the Central Banks policies. Currently it would seem that the FED and all the other Central Banks are at their limit, their magic Jaw-boning and negative interest rates appears to be loosing the confidence of investors and the markets hence golds current recovery. Which I believe will continue as reality of the continuing economic mess the world is in manifests itself, which is far worst than back in 2007.

[atlantic57] 17/4/2016 09:59

Hi Blue,

I hope you are well.

I also believe that on the balance of probability the risks on the gold price are on the upside.

However I am extremely wary of these experts .
Over the last 5 years many of them have been completely wrong but they never have the humility
To admit this.You would gave lost significant amounts of capital and paid the subscription fees
For what ?



I

[bluelynx] 17/4/2016 09:37

Fund Manager Jim Puplava interviews Jim Rickhards in depth concerning Gold. Jim Paplava correctly called the top in Gold at $1,900 back in 2011 but he is now returning to a much more bullish outlook toward Gold. excellent interview.

Below the Jim Rickhards interview is the current free weekly News Hours in which Jim Puplava gives this latest market views, he also carries out a number of interviews with differing market experts with many different perspectives, but there is a small fee for these interviews which is not at all expensive at $18 per month or $150 per year.



Jim Puplava’s Big Picture: The Only Game in Town – Central Banks, QE, Negative Rates and Helicopter Drops:

[rrr] 14/4/2016 20:04

Thanks Chip.
Reached Bloomberg

[chipperfrd] 14/4/2016 17:36

DB also admitting to rigging of gold market! Surprise surprise - NOT!

[chipperfrd] 14/4/2016 16:45

About time one of these manipulators cracked!