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goldminingXpert (29.07)

March 2009



My Collegian Column This Week: A follow-up to last week's Global Warming piece.

March 31, 2009 – Comments (10) | RELATED TICKERS: AF

Enjoy. Or don't. It's up to you. After getting 86 comments on last week's column, I apparently hit a nerve.   [more]



Global Warming: Are 31,000 Skeptical Scientists Wrong?

March 24, 2009 – Comments (95) | RELATED TICKERS: ARE , YOU , HOTT.DL

Check out my column in the Rocky Mountain Collegian today. My favorite quote is: "Like the Medieval Church, the scientific community can easily get tithes by scaring people senseless and then offering them a potion. Carbon dioxide is the new gremlin, and carbon taxes and alternative energy programs are the new holy water and magic amulets we can buy into to save ourselves from the frightening tales of doom the scientific community preaches." As per usual, check out the whole column on the website, they own the rights to my columns, not me.  [more]



This Rally

March 23, 2009 – Comments (18) | RELATED TICKERS: L

will go on longer than you expect. It will go on until a large number of people believe that the bottom is in and a new bull market is underway. While the economy isn't finished declining, the bulls-in-waiting will come from the bulwark proclaiming that the stock market is a forward indicator. At this point, calmly join me in selling your stocks as quickly as possible and buying puts on any stock with a ticker symbol. But for now, either hold your stocks or patiently wait in cash until the new bull market blather spreads throughout the masses. Too many people were trying to short the S&P at 800 last week. Wait until the bears are beaten back and then pile back in on the short side. This is not a new bull market, it is merely a bigger bear market rally than most--enough to hopefully scare you senseless if you thought shorting stocks in a bear market was easy. That is all.  [more]



The Dangers of (f)oolishly Following Floridabuilder

March 20, 2009 – Comments (48) | RELATED TICKERS: MTH , SU , X

A very alarming tendency on this sight I've noticed is that people end up not only dogpiling onto, but enthusiastically recommending the stocks that top fools like. As a top fool myself, I find it awkward to write about this subject, because it makes me feel good when people dogpile on my picks. That said, I'd be concerned if people were blindly telling their friends to buy stocks I recommended--that wouldn't be good. ALWAYS do research before buying a stock, particularly off a tip. Why do I bring this up?  [more]



China is Done: Or What XFML changing to XSEL Means To You

March 18, 2009 – Comments (37) | RELATED TICKERS: CHINA.DL , GO , BOOM

Xinhua Finance Media Limited (XFML) was a Chinese company that attempted to profit from the growing interest within China in business/finance/and advertising. On the basis of what can only be described as wildly fraudulent financial reports, XFML managed to maintain a price over $5 for quite awhile. (It IPOed at 13 and pulled a Vonage, never trading over 13 in its relatively brief and painful life.) Recently, however, the company, which now trades at around a quarter of a cup of SBUX coffee, changed its name to Xinhua Sports and Entertainment Limited. What does this mean? It means that the China bubble really is finished. When the pumpers give up on the name, you know the goose really is cooked. Of course, we'll have to wait until the business model abortion that is JRJC gets delisted before we can finally say China is back to being a 3rd-rate banana republic economy, but for now XFML's conversion into the decidedly unexcellent XSEL shows us that their economy won't be returning to vigor.   [more]



Proof of the Dangers of Bottom-Fishing

March 17, 2009 – Comments (19) | RELATED TICKERS: C , F

I, your humble GMX, am not the sharpest tool in the shed so to speak. That said, I was shocked, absolutely shocked in fact to learn that I was the score leader for Citigroup (C) with roughly 150 points. This is a stock I've never traded with real money and have only picked 4 or 5 times here on CAPS. The bulk of my points came from two lucky green thumbs, the first in the fall market crash and the second just last week. I got in at 1.65 and here we sit at 2.50 now. Am I an expert on the stock? Most definitely not. I wouldn't buy shares of this under any circumstance no matter how bullish my technical indicators looked (and they looked very bullish--hence the green thumbs.) Now, the question is, of all the people who profess to be geniuses who always buy the bottom tick on a stock--why aren't YOU the score leader on C? Just over the past year, the stock has gone from 27 to 14 to 22 to 13 to 24 to 12 to 19 to 3 (!) to 9 to .97 to 2.50. It's shameful that the score leader only has 150 points on this stock with all this volatility. Where are all the gurus who always go posting, I bought xxxxx # of shares at 2.90 and unloaded at 9 the next week, why aren't you scoring better than oblivous old GMX on C--a stock that I don't even have on my quote board most days?  [more]



New York Unveils Bold New Health Care Solution

March 10, 2009 – Comments (13)

Wait until you hear this one. Government, fighting ever escalating health care costs, laws down the law against a doctor who had the nerve to undercharge uninsured patients for treatment. Check this article out: Here's the first few paragraphs:  [more]



Another Karl Denninger Blog Repost

March 09, 2009 – Comments (7) | RELATED TICKERS: SPY , QQQ , XLF

I swear I do have original thoughts of my own... just nothing coming to me at the moment. ;)  [more]



Worst Case Scenario

March 05, 2009 – Comments (26)

Thanks to Karl Denninger, master blogger, political activist, and technical guru for posting this sobering look at things today.  [more]



The Euro is Toast

March 04, 2009 – Comments (13) | RELATED TICKERS: OMG.DL

I've been saying this for a little while now, but here's some further evidence found from this article. I'll quote the best parts here, but I recommend the whole piece.  [more]



Obama's Budget Makes Even Bush Look Responsible

March 03, 2009 – Comments (22) | RELATED TICKERS: L , AME , O

That is the title of my article that appeared in the Rocky Mountain Collegian today. I recommend reading the whole article (I wrote it after all.) But after the Democrats got on their high horses and condemned the Repubs for spending too much, what do they do? They run a budget deficit 4x as big. Good work, you hypocrites. What a bunch of lying weasels. Rahm Emmanuel, Obama's Chief of, um, tax-evasion? Oh sorry, chief of staff, that's right, I remember now, said, "President Bush . . . ran up record deficits and added nearly $4 trillion to the national debt. Mr. President, we will be forever in your debt," Well, Mr. Emmanuel (and his name certainly shouldn't be intrepreted in a messianic way), look what your boss is doing. Anyway, enough ranting, read the article and leave your comments and criticisms please.  [more]



Bought NEM March 30 puts at 0.30

March 03, 2009 – Comments (9) | RELATED TICKERS: NEM

Gold is getting absolutely whacked today (-$27/oz) yet gold is up. What's up? foolishness is what's up. By the end of the day, I expect NEM to reverse its early gains and trade down into the 35's. The March 30 puts should be a double in that case if my pricing model is right. If you're looking for a speculative trade with lots of leverage, here's a good one. Should support get busted on NEM at 34, this option could go in the money... quickly.  [more]

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