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June 6, 2006
Senior gold producers caught in rising tide, Tues., June 6, 2006, 6:45 PM
At 12 noon today in NYC, there was a truly inspiring event. The bankers, flush with cash, bought up the equity market, and guess what happened to the gold stocks too?
That's right, all boats lift in a rising tide.
These are the major producers of gold that I trade. As you can see, the group was down on the day, but there is nothing to worry about, as Santa Bernanke provided goodies for all.
Even the spot gold market got into the act at noon, as the chart below clearly shows.
Let's see if we can keep a good thing going here.
Posted by Posted by Bill Cara on June 6, 2006 06:45:23 PM | Category: Cara Today in the Market
Discourse
Well, IMO he is right about Vonage (I am not short, I am customer who wants to dump them, plenty of cheaper choices out there).
Now, I thought Gold was safe, and now he is promoting it, yikes.
Posted by: ursus ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
June 6, 2006 10:07 PM [link]
Ursus, I think his loudness w/r/t VG simply implies some sort of involvement with him; not sure what it is, but the repeated diatribe was rather revealing.
As for gold or anything else for that matter, what really is 'safe', when there are millions of crystalks of variable permutation mixed in a soup of human emotion. Perhaps, the one 'safe' avenue is when all mostly agree on a particular outcome - such is safe to think otherwise ;-)
Posted by: Jason22 at
June 6, 2006 10:13 PM [link]
Oh god, Cramer is pumping Yamana (AUY)??? That's not good, since I'm long AUY, and his calls often tank...
Posted by: Fazeli at
June 7, 2006 12:27 AM [link]
A related blog article about the recent huge selloff of COMEX Gold contracts at
http://www.safehaven.com/article-5317.htm
Posted by: mSquare at
June 7, 2006 1:45 AM [link]
m square
thanks for the article, it seemed like good reading at the time, but i took the time to log into the site it was from and i highly recomend that you read some of the articles in the archives there, they were calling for a fall in the price of gold all of last year yet many people made mega dollars sticking with it, sometimes good reading is just that, good reading, dig a little deeper and you will get to see the whole picture
Posted by: tgifbipo at
June 7, 2006 8:53 AM [link]
Cramer pumping gold tonight. The one he likes: AUY, lol, And consistently makes fun of Vonage and IMAX - Why is he so negative on such stocks? Maybe short. Anyway, Mad Money is embracing gold big time tonight.
Posted by: Jason22![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
June 6, 2006 9:49 PM [link]