good moorning.

I've just subscribed a fund that invest in Gold Miners.
The name of the fund is SG GOLD MINES.
I intend to hedge against a possible bear market.
Anyone has this fund in their portfolio?

Bill Cara:

The manager is Societe General.
They invest in Large and Mid Sized stocks.
The fund is loacated in Luxembourg.
The ISIN-Code is LU0130163560.
The following link tells everything about the fund:

http://www.sgam.com//other/index.asp

Thank you.

Bill Cara:

Sorry but the link is not direct.
You have to select:

PRODUCTS
EQUITIES-WORLD-SECTOR

and then

SGAM fund equity gold mines F

Thanks

POT is going vertical... unlikely this will continue much longer... worth a look...

Brokers are conspicuously weaker than the broader market today. Since they were the one of the strongest groups leading the advance from mid September it would behoove us to play close attention to their price action. Three day low in GS is 185.3 and breaking that level could lead to a test of the more important level of 178.85. LEH and BSC are completing head and shoulder tops roughly targeting 69 for LEH and 137.5 for BSC.

Tradesman..Barron's had an article on POT this past week if memory serves. TNH (thinly traded) also had a breakout. POT's chart reminds me of ANDE's chart fall 05 through MAR 06.

POT uptrend line will have a negative correlation to oil. Wonder if a trendline break of POT will be a "tell" for oil's bottom being in. Same for the chemicals... you're right, worth watching.

more on POT and company....I find it interesting that brokers wait until the up/down move has been made prior to issuing their buy/sell recommendations. If you were to wait and act on their information, your entry points are just not that terrific.

A savvy investor who follows sectors would know that nat gas prices have been coming down and that means $$$$$ for these fertilizer folks. So op cost kicker (for TNH, each $1 decrease in nat gas equated (last spring at least) to $25M in additional income). However, you must do homework to find out how much is hedged for how long, particularly if prices are high. 10K's are godsend for this information.

Keeping a notebook of your observations in certain sectors and what to watch for in planning your next investment moves is important. How do I know? Because I missed this move, and this was a sector I followed closely 6 months ago.

Re oil and gas, I'm long USO and NGAS now. I expect both will do well over the winter months.

Also long the quad Q, fwiw. And GG is finding its legs now that the GLG merger is done. I expect it may pullback a bit. But the storm clouds definitely look to have cleared.

Has anyone heard that the Treasury Dept. is quietly conducting repos now, in addition to the Fed. I heard it from http://bigpicture.typepad.com/ linking to NY Post article.

If they continue inflating won't every asset rise along with Gold? Is there a limit to the amount of these repos that can be absorbed by the market?

Anyone know of a particular event causing gold to go vertical at 11:20am?

Large push into the commodity markets today - speculators back?...

Junk Bonds at new highs...

Risk lovers everywhere to be found...

The proper job of the Central Bankers at this point is to perform some 'capital destruction' -
End Japan's free money policy, let those that took too much risk go under.

But they can't because then their pyramid falls apart.
The risk lovers know this - and taunt the Fed and Cb'ers.

So what does Ben do?
Prints more money...
http://www.ny.frb.org/markets/omo/dmm/temp.cfm

What can a trader do - but keep going long his printing press?

Dollar fell off the cliff on speculation about China diversifying currency reserves.

http://www.bloomberg.com/apps/news?pid=20601083&sid=a4_dyFT2VK8o&refer=currency

CSCO
Last: 26.89
Change: +1.79 +7.13% Volume: 122,728,327

The last date Cisco (CSCO) traded above $25.00 was 2/2004.
Now that the "cup" retracement is completed, let's see can the 5-year chart pattern form a "handle".
Just monitoring...no position.

Re: China As the Daily Pfennig from Everbank says: The Great Wall of China, has officially turned into the "Great Wall of Cash"! China's currency reserves have passed a record $1 Trillion, and continue to grow at a rate of $20 billion per month. China's reserves have grown from $100 Billion in 1996 to $1 Trillion today and are expected to double to $2 Trillion by 2010. . .

It makes sense for China to diversify currencies and probably buy PMs--gold, silver, IMHO. However, they have to be careful not to shoot the golden goose (USA) that buys all their products.

re: POT - was watching this around $86-95 for a breakout... guess the smell of manure & a $13 million dollar CEO kept me away.

Is POT a possible takeover target?

Re: Gold

Waiting for those mo mo hedgies to buy gold into strength again, believe me, they will. Then, they will get squeezed and be forced to sell at a loss, that's the next buy-in point.

Have you mo mo hedgies learned yet? Still buying into strength based on momentum? We'll see.

Re gold:

Today I'm willing to take some off the table. Tip of the hat to Bill for his mid-October call.

Re: the timing of the discussion by the Governor of the Peoples Bank of China on diversifying out of dollars - Democrats in office, China wants to immediately attempt to deflect US politicians trade war sabre rattling. China will say whatever the US wants to hear (depeg yuan from dollar), yet still stick to their schedule, doing what is best for China.

Also, I am guessing that if the President wants Congress to approve of spending on war on terror, he will have to approve more entitlement spending - a quid pro quo. Bottom line, more spending, not less. No new policy will be put into place to move our deficits to surplus, so dollar down, gold up. IMO, of course.