Member Info for Daisan

Korg, I don't have a buy in price. I am just looking for consensus from those I follow for a green light that they believe the bull market is back. I am happy to miss some of the upside for this reduction in risk. Just to explain my basis for this, I followed the markets closely pre-2008 and realised that gold was probably the place to be, made some investments off my own bat and kept pouring the money in. My viewpoint was universally gloomy about the world economy at the time so I could only see gold going up. As the market turned I just kept on investing. I made a lot of money out of Norseman which I rode from 2p to 70p. Unfortunately I didn't take the money out of the market and just reinvested my gains. And rode the market down! I still made a bit but not the amount I could have. After that I decided to be cautious and accept the advice of several experts. I am still very bullish on gold and will invest, I will just be guided on my entry and exit points. AAZ is definitely on my list! I am surprised by the movement today. The Yellen effect! Mr. Radomski is currently suggesting no change as a result of this but I can't help noticing that the gold price is pushing the stop loss on his short positions. Personally I don't tend to take out shorts so I am not in his position currently. Still watching currently but good to see you are making money.

I'll be around. I used to post on iii quite a lot during the last credit crunch. Mainly on Norseman's board (NGL is in care and maintenance at the moment). I firmly believe that gold will make some millionaires in the next 2-3 years. Not that money will be worth as much in the future!

Korg, I do look at Chris Vermeulen. He is very good as well. And if you look at the URL you posted and the youtube video, you will see that he is also calling for a drop in gold and gold stocks in the short term! So they are all consistent. But don't confuse the statements here as being bearish on gold. They are not. They are all very bullish on gold -long term. I think most of them will project several thousand dollars per ounce on that basis. However, short term they are, in general, calling for a pull back. It is just a question as to how long that will be and to what level.

I have been doing a bit more research the last few days and the analysts I follow are pretty much unanimous on caution around gold. Przemyslaw Radomski, who I probably follow most closely, is outright bearish now on gold and gold miners. He has initial targets of under $1000/oz for gold and 80 for the HUI. Considering that the HUI is currently at 145, this is a significant further fall. The trigger for this is a resumption in the uptrend for the dollar. I am a bit wary about this HUI prediction as others that I follow are suggesting that there has been a bottom put in place amongst the junior gold stocks. Most of them are suggesting a bit of a pull back but suggest that this will be relatively small. All in all enough to suggest staying out for now. Of course, this could herald the start of the biggest jump in history in which case I'll have to accept the fact that I missed it!

Korg, I agree that this is undervalued and if gold takes off it should as well. I did look at buying yesterday but the stock available was terrible. Look at the market size, confirmed by the size of trades for this today and yesterday. It is very illiquid and difficult to build up any kind of decent holding at the moment so I am holding off. If things loosen up a bit I will see whether I can buy a decent amount.

Hmm. I don't agree with either of those statements. I suspect that China has nowhere near the gold it would actually like but it has certainly increased its holdings greatly in the last few years. Russia is a basket case. It is not so easy to convert ordinary cars to either electric or, even more so, hydrogen. I do, however, agree with Tesla being overpriced. LinkedIn and Tableau shows what can happen to a highly valued company that disappoints - both fell over 40% in a day last week. Just to clarify my stance on this. I have been following gold for years and made a fair amount after 2008 buying into gold companies, particularly Norseman. Unfortunately I have also lost a fair amount on commodities and gold between then and now so am wary about going in in a big way. I've always liked AAZ despite the somewhat complicated structure and feel that it is very undervalued. In the next few years I do expect gold miners to appreciate enormously from their bottom (by which I mean that you will get lots of companies going up several times in value, a fair number going up 10x plus and a few going up 100x plus). I would just like a few analysts to agree that the bottom is in!

Actually, a significant number of chartists that I read are not yet anticipating a weaker dollar, instead anticipating a continuation in the dollar rise. This would be the case if, as you say, most are betting on a dollar fall (contrarian view is usually a good position to take). And, whilst gold traditionally goes in the opposite direction to the dollar, this is not always the case. In times of market distress they can, and do, rise together as the dollar, as the reserve currency, and US treasuries also attract funds. Interestingly, one of the analysts I mentioned, Jordan Roy-Byrne, has turned bullish on the miners but not yet on gold. Miners tend to precede gold in an upturn so this could be a very good sign of a new bull market. I need to check what the latest is from the others.

Too early to say yet whether this is the commencement of a major uptrend for gold. Some chartists I have a great deal of respect for in calling this market, Jordan Roy-Byrne, Clive Maund and Przemyslaw Radomski, are all expressing caution. Indications are that $1190 is a key figure for gold. Having read these guys for quite a while I have no reason to disbelieve their analysis and they are all calling a pull back in both gold and gold shares. However, they are all also suggesting that there is likely to be a very significant rise in the not too distant future so I am keeping my powder dry for now. I might add that, in general, I am not a great fan of charts but it seems to work well for a market like gold.

Despite the negativity (and the years have proven this to be the case), he has always been very erudite as well as knowledgeable. He argues well even if I don't always agree with him. He is certainly not abusive either. I like his posts to be honest and I always have an image of Eeyore when I read them.

Indeed. Less than 60k shares traded today, mainly on ISDX. The majority are buys which explains the direction of the movement. If the movement gets noted this could spike.

Hardly any volume though. Just shows how little it takes to shift some of these companies.

Walia, I was referring to Pablo2's post which indicated big buys today.

I can't see any buys that I would call 'big' going through today. The biggest I can see is for £2,250 which is hardly huge. However, any small amount of buying is enough to move this from the current sp. I am not convinced there is news associated with this. The level of buying is very small - easily understood by the subtle ramping going on. Keep it up Walia. As a (distressed!) share holder your ramping seems to be having some effect. If you can get it up to the previous highs over the last few years of 8p I'll be well pleased. I don't expect an all time high (just under 50p).

I suspect the source is Walia!

Well, finally we have a late reported trade over 2 days after the event. 2m shares dumped at a price of 4.5p which considering the price was 9p at the time seems a little on the desperate side. I suspect that a substantial number of these share are still on offer, hence the reason why it dropped with relatively little selling pressure yesterday. Unclear whether there are any more left to sell although the fact that it is not a round number (shares or value) suggests that it may be the whole amount. We shall see. Still an excellent opportunity.

What does this mean?

Some momentum this morning but surprised there isn't more activity. Surely this has got to appeal to pi's at this level? I suppose that we don't have the usual ramping crews 'spreading the love'.

Looks like there may be some late reported trades. I can't see mine yet and I suspect that we may see a decent sized sell at some point.

May be trying to shift a large sell order so have dropped the price given how illiquid the shares have been. This might actually be a shot in the arm for liquidity and I have bought a few given the low market cap on offer now. Seems to be extremely low given the fact that it is an operating gold mine and not in immediate danger of going out of business given the convertible notes issued before Christmas (they can't have spent it all quite yet).

It's to approve the equity and debt financing announced a few days ago. Nothing else should be read into it. Indeed, if you read the recent interview with the CEO, it is clear that the equity stake was taken now to avoid having to make a takeover bid (which would be forced when the rules change in September). As such, it would be bizarre if they announced a takeover bid now. I certainly wouldn't rule it out in the future, however.