saveyourassetsfirst3 |
- Trading Bars for Rounds
- Another guy buying with both hands
- Chesapeake Energy - Delay In Asset Sales Is Disappointing
- Gold Can Correct By Another 10-15%
- Gold Symposium Trip
- Links 11/04/2012
- Cramer's Mad Money - Beyond the Conference Call (11/2/12)
- Currency Positioning And Technical Outlook: Trending Market Or Not?
- Pfizer - Company Is Still Cleaning Up After Wyeth Mega-Merger
- Links for 2012-11-03 [del.icio.us]
- Who Will Lead America Over the Next Four Years?
- Bullion Direct Nucleo exchange.
- Time to Buy, Buy, Buy
| Posted: 04 Nov 2012 09:24 AM PST Hey Guys, I'm wondering if anyone knows any dealers that trade bars for rounds. I talked to a few who wanted to do a buy and sell which seems like a bad deal since I lose on selling below spot then have to pay above spot and if the transaction is large enough would get reported and if below $1500 (I think) would then have sales tax applied... Is this usually the case where you get locked in with bars until you are ready to cash out in full? bb |
| Another guy buying with both hands Posted: 04 Nov 2012 08:25 AM PST |
| Chesapeake Energy - Delay In Asset Sales Is Disappointing Posted: 04 Nov 2012 07:47 AM PST By Robert Broens: Shares of Chesapeake Energy (CHK) lost almost 8% in Friday's trading session. The troubled natural gas company reported a multi-billion dollar loss. Investors were disappointed by the lack of asset sales, in order to pay off debt. Third Quarter Results Chesapeake Energy reported third quarter revenues of $2.97 billion, down 25.3% on the year. Chesapeake produced 381 billion cubic feet of natural gas equivalent during the quarter. Natural gas revenues fell 58% to $505 million, largely explaining the decline in quarterly revenues. Average natural gas prices fell 59% on the year. Revenues came in ahead of analysts expectations of $2.73 billion, on the back of higher production volumes. The company reported a net loss of $2.05 billion, or $3.19 per diluted share for the quarter. The company took a $2.02 billion impairment charge related to the carrying value of natural gas properties. Impairments were driven by lower natural gas prices Complete Story » |
| Gold Can Correct By Another 10-15% Posted: 04 Nov 2012 06:07 AM PST I had discussed the reasons for a probable correction in gold in the near-term in my article on October 23, 2012. From the highs of that day, gold has corrected by 3% in ten trading sessions. This article discusses the levels at which investors can consider exposure to gold for the long-term. There is no doubt in my mind that gold is undervalued when compared to other asset classes from a long-term perspective. Therefore, any meaningful correction in gold would be a great opportunity to buy the precious metal. The best part of the bull market might still be pending for gold and investors need to benefit from the same. Analysis here... |
| Posted: 04 Nov 2012 05:30 AM PST Back from my week long trip over East and have now caught up on the inbox/to-do. Monday and Tuesday was the Gold Symposium. Good to see a lot more bullion dealers there and a lot of people interested in the bullion investment sessions, in contrast to mining companies which has been the focus of the conference in the past. David Evans from Gold Nerds gave the same presentation as last year but had tightened it up (click here). I think it is one of the best presentations for people new to gold or why they should be buying gold - its doesn't hype up the case or is too gloomer and is quite factual. If you have someone you are trying to convince to get into PMs, I'd recommend sending them this presentation. Keith Weiner's presentation was also good but I can't find it on the Symposium slide share site. Other ones worth looking at are Richard Karn, Dan Denning and Rickards of course. Funniest part was the presentation by the BetaShares guy on their USD hedged gold listed ASX product. I met him before his presentation and said I wouldn't heckle (as the Mint's PMGOLD is a competitor) but when he said that the 50% CGT discount didn't apply to physical gold purchases I couldn't let it go by with a comment/question at the end. However, I had to first wait for the inevitable questioning about his statement that physical buyers risked a 5%-10% cost for refining/assay when selling back!! He also lost a lot of people in trying to explain how the 30 forward FX hedge worked. All in all it was a Fail, as they say. I think next year they should have one room for mining company presentations which you can drop in and out of as you see fit (plus it would give them a bit more time) with all the investment in PMs presentations in another room. At the dinner/awards at the end Jean Kittson was very good with the mining/gold jokes. Also I think Gold Stackers should have won Trader of the Year award and got stooged on that. Wednesday I went to the Sydney silverstackers lunch time meet up but had to cut that short because had lunch with Dirk Baur from University of Technology Sydney to chat about gold. He has done a few papers on gold, safe haven assets & seasonality - worth checking out for the academically minded, see his section on the SSRN website. Thursday met up with BullionMark/Ainslie/Reserve Vault. Class outfits all of them and Mark will bring his usual professionalism to the Reserve Vault business providing another option for Brisbane stackers not happy with the outrageous Allocated storage fees of the Perth Mint :) Seriously the more options for investors the better for the market as a whole - its all about diversification. Later in the day caught up with Warren from screwtapefiles blog to chat about his Bullion Bars Database project to see what we might be able to find out about the OTC bullion market. Pity Warren has a day job and can't spend all his time on that work as I think there are some nuggets buried in the data. Dinner later that night with some Brisbane PM bugs of varying ages was a treat intellectually and I was bummed to have to cut the stimulating conversion short due to an early flight out the next day. Friday was a fly in and fly out visit to Nick of Sharelynx. It was great to meet Nick in person for the first time and we gasbagged on gold for about 6 hours straight and forgot about lunch (but not beer). The amount of data Nick has accumulated since the 1990s is invaluable. Well worth the subscription as I always say.  |
| Posted: 04 Nov 2012 03:55 AM PST In-Sync Brain Waves Hold Memory of Objects Just Seen Science Daily Sandy's Blackouts Leave 2.5M Customers Lacking Power Bloomberg Sandy forces New York to consider all options in effort to make city safe Guardian @macfathom on Hurricane Sandy (MS) FEMA has 9,106 disaster assistance employees. Only 770 get federal health insurance WaPo Why is the left defending Obama? Matt Stoller, Salon Why vote? Interfluidity Nov. 2: For Romney to Win, State Polls Must Be Statistically Biased Nate Silver, Times A Bet is a Tax on Bullshit Marginal Revolution Ohio provisional ballot voting order criticized AP Why Romney Will Win Ohio National Review. For future reference. Obama Camp: We're Kicking Butt. Really! Josh Marshall, TPM Max Keiser: 'Barack Obama is clueless. Mitt Romney will bankrupt the country' Independent What It Will Take for Barack Obama to Become the Next FDR Jack Balkin, Atlantic. Also too ponies. I love ponies!!!!! Stockton, California: 'This economy is garbage' Guardian The Forgotten Long-Term Unemployed Times. The new normal. Fractured Recovery Divides the Region Times Payroll Growth Shows U.S. Labor Market Healing Before Election Bloomberg. Category error: Markets do not "heal" because they are not living things. More Jobs, Lousy Wages, and the Desertion of Non-College White Men From the Democratic Party Robert Reich One Safety Net That Needs to Shrink Gretchen Morgenson, Times. You'll never guess which one! Clue: Neither candidate mentioned it. The Revolving Door Spins, the "Consumer" Bureau's Mortgage Servicing Rules Stink Abigail Caplovitz Field PDL Vote Plummets by 75% as Parties are Humbled Corriere dellla Sera. Italian election results. Voters in Sicily give comic the last laugh FT SYRIZA Still Leads New Democracy in Polls Greek Reporter No arts in the English baccalaureate could kill Britain's creative economy, say top arts figures Independent Mining Companies Swarm to Finland's Far North Der Spiegel Conflict-of-interest concerns raised as Obama races to implement health reform The Hill Q&A: The Price of Paying Attention Big Picture Reducing/Reinforcing Confirmation Bias in TM Interfaces Another Word for It. Disfluency disrupts confirmation bias. US National Archives Has Blocked Searches for 'WikiLeaks' FDL Mexican Cartels Enslave Engineers to Build Radio Network Wired Revealed: How 'domination fetish sheet' and concerned neighbors led to arrest of alleged Zumba prostitute Daily Mail. Life in a small town! How It Could Happen, Part Five: Dissolution The Archdruid Report Antidote du jour:
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| Cramer's Mad Money - Beyond the Conference Call (11/2/12) Posted: 04 Nov 2012 03:21 AM PST By SA Editor Miriam Metzinger: Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Friday November 2. Know The Sector and the Sub-Sector The sector that a stock is in has always been an important factor in predicting how that stock will trade, but with the proliferation of ETFs, the sector has become more important than ever. Moreover, an investor should not just look at the sector, but the sub-sector; this is important especially in tech, where semiconductors might be performing badly, but cloud plays are winning. Similarly, in retail, there is a huge difference between attitudes about high-end stores and dollar stores. One strategy to insulate oneself against sudden moves in stocks in a certain sector is to sell the ETF of a sector and buy the best stocks held by the ETF; this helps investors hedge against a sudden downturn. Gross Margins: Beyond the Conference Call While its earnings Complete Story » |
| Currency Positioning And Technical Outlook: Trending Market Or Not? Posted: 04 Nov 2012 02:34 AM PST By Marc Chandler: The key issue facing market participants is whether the dollar is trending or moving in a range. We retain a favorable outlook for the dollar on a medium-term basis. We had expected the range trading environment to persist. This is primarily because we do not anticipate a resolution to what we see as the key issues facing investors--the U.S. fiscal cliff and the European debt crisis, and in particular, some closure for Spain and Greece. The week ahead will test this view as the ranges are being threatened In a trending market, one wants to buy low. But in a ranging market, one typically wants to buy low and sell high. To respect the ranges requires the picking of tops and bottoms, which, as one can appreciate, is fraught with risk Complete Story » |
| Pfizer - Company Is Still Cleaning Up After Wyeth Mega-Merger Posted: 04 Nov 2012 02:25 AM PST By Robert Broens: Shares of Pfizer (PFE) ended the week with losses of 3%. The global biopharmaceutical company postponed the release of its third quarter results to Wednesday as a result of the impact of hurricane Sandy. Third Quarter Results Pfizer reported third quarter revenues of $14.0 billion, down 16% on the year. A strong US dollar resulted in $699 million in lower revenues, or 4% in total. The loss of exclusivity of its key drug Liptor was the main cause behind the fall in revenues. On average, analysts expected Pfizer to report revenues of $15.5 billion. Pfizer reported a 16% decline in adjusted income to $3.95 billion, or $0.53 per diluted share Complete Story » |
| Links for 2012-11-03 [del.icio.us] Posted: 04 Nov 2012 12:00 AM PDT
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| Who Will Lead America Over the Next Four Years? Posted: 03 Nov 2012 06:00 PM PDT Frank Holmes, U. S. Global Investors writes: Our thoughts are with our readers, friends and families in the Northeast, as Hurricane Sandy did her best to create a path of destruction, leave millions without power, weaken the transportation system and batter homes, businesses and shorelines. I'm confident that in these tough times, America will continue to demonstrate goodwill and generosity, with citizens banding together to help fellow neighbors.
Americans will also be united in heading to the polls next Tuesday to determine who they want to be the next president and vice president. After months of experts, news reporters and the candidates inundating us with a barrage of facts and opinions, voters have the last word. Research finds that historically Americans' say has been swayed by very recent stock market performance. Last July, I covered the work of Adam Hamilton from Zeal LLC, who analyzed that the market has typically determined whether an incumbent leader wins. He used InvesTech research dating back to 1900 to look at market results covering the two months leading up to the presidential election. The majority of the time, when stocks rose in September and October, the incumbent party was reelected; when equities dropped, the incumbent typically lost. He discovered that "out of the last 28 presidential elections, this simple indicator has proven correct 25 times. This is an astounding 89 percent success rate!" This shows that Americans "make political decisions based on how our families are faring economically," he explained in an October update on this topic. The stock market, as a proxy for the broader U.S. economy, "heavily influences how we cast our ballots." However, during September and October of this year, the S&P 500 Index rose 0.40 percent, which makes it too close to call an incumbent win. This "essentially dead flat" result has made the few days leading up to the election "super-important." Adam says, "We all figured it would be a close race in our heavily-divided country, and the stock markets are certainly exacerbating this with their schizophrenic September-October ride." There has also been a close relationship between President Obama's approval rating from Gallup and the performance of the S&P since he took office. Immediately after Obama took the oath, there appeared to be an inverse correlation between the stock market and the approval rating while the president enjoyed a "honeymoon" period. We "had high hopes his leadership would bolster a rapid economic recovery in America," says Adam. However, following the honeymoon, "Americans' views on the job Obama is doing have been closely tied to the fortunes of our stock markets." Beginning in mid-2010, as the stock market rose, the approval rating for the president climbed; when the market corrected in 2011, so did the Gallup poll.
What's interesting is that while the S&P has climbed an outstanding 68 percent over the president's term, the president's approval rating sits at only 51 percent as of the end of October 2012. This weak approval has been attributed by several experts to stagnant job growth, a slowing global economy, weak U.S. GDP growth, and a mountain of rules and regulations that have hindered businesses over recent years. Alan Zafran of Luminous Capital believes that these reasons are why "CEO confidence remains listless, lethargic and dispirited." According to the YPO Global Pulse Confidence Index, which measures executives' perspectives on the business climate, leaders' confidence around the world, except for in Latin America, "fell modestly over the past three months and remains in largely uninspiring territory." As you can see, a majority of CEOs responded that there would be no change in their businesses' employee count and fixed investment.
He indicates that the most important reason for a slump in CEO confidence is that "uncertainty relating to America's tax code and regulatory environment as well as its health care and retirement systems – particularly in the face of our nation's 'fiscal cliff' – has stymied many American CEOs' willingness to add jobs and buy business equity today." Zafran concludes his article by calling for "meaningful fiscal action" to get the U.S. economy out of its "financial ditch" and raise the confidence of CEOs. As I often say, it's not about the political party, it's the policies. Regardless of which candidate wins, Goldman Sachs' research shows that the market is indifferent during the president's first year. As you can see in the chart below featured on Business Insider's website, since 1976, the S&P has experienced a median return of 10 percent over the twelve months following the election of both a democrat and a republican.
How is Energy Affected by the Candidates? Conversely, a Governor Mitt Romney win could be significant for energy companies. In its "Romney Portfolio" ISI's rationale is that Romney and the GOP "will try to do more to promote traditional forms of energy, including offshore drilling, approving the Keystone pipeline, and exploiting the nation's coal resources."
U.S. Global's Director of Research John Derrick also discussed the impact of energy companies as well as tax policy differences between the two candidates with AdvisorOne. Read the article now. Join Our Post-Election Outlook Webcast November 3, 2012 ( Source: U. S. Globlal Investors) |
| Bullion Direct Nucleo exchange. Posted: 03 Nov 2012 01:40 PM PDT Has anybody used this service? Looks like a way to buy/sell on there small exchange and wondering if anybody has any experience with it? Good/Bad ...thoughts? |
| Posted: 03 Nov 2012 01:04 AM PDT Gold Scents |
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Thanks for the ongoing investment news. If you have investments such as gold and jewellery that have substantial intrinsic value, consider storing them in a private vaulting facility.
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