Remember the one that goes something like "you have a small loan, you have a problem; you have a billion dollar loan, your bank has a problem"?

Maybe I mangled the quote, but everyday I see this market move up on bad news, I keep thinking about it...

Mr Morales has said he also plans to nationalise Bolivia's mining sector.

Bolivia's first Indian president, Morales has vowed to reverse centuries of dominance by the country's European-descended minority, granting greater political and economic power to the poor indigenous majority.

AP
http://www.ireland.com/newspaper/breaking/2006/1204/breaking40.htm

Thanks for the link Karzy.

This trend of nationalizing natural
resources is spreading around the globe.

Russia, Mongolia, Bolivia are examples.

Be careful these days!

yet, KRY looks set to take out yesterday's high !

KRY, on the positive side block trades and volume remain strong. On the minus side the April high to June low has a 50% retracement level of 4.08 whereby consolidation may occur.

Karzy, thanks for Morales info.

It's 10am and just like yesterday, Gold is dropping like a stone. strange...

They are using the "cover" of economic data releases to try to drive it under 640. I see three attempts on the charts. It is bouncing STRONGLY at that level (spot).

Currently monitoring PetroChina Co Ltd (PTR)(Cara 100)
EPS: 10
PE: 13
Div: 2.52
52-wk range: 80-128
New Year's resolution: increase long position - if current price trend remain intact.

http://tinyurl.com/yblamn

oratier

RSIs 83.7, 85.3 & 80.5 currently across the board on PTR.

IMHO, like the long term picture of Chinese oils PTR, SNP & CEO, but will wait for now.

No positions in any.

Seamus,

RSIs are relevant, however, on (PTR) I'm engaged in "trend following". It's risky, but the potential reward may be worth it. We will see - just monitoring at this point.

Oratier

Understand, I do the same a lot myself.

In fact, I'm monitoring French companies VE and SZE that have some big Chinese contracts for water treatment. Lots of opportunity there. SZE has some other distractions right now. Bloomberg has an interesting article about the subject today.

No positions. Good luck!

Any ideas why KRY has dropped like a stone in the past 15 minutes, and IVN has skyrocketed today?

Sorry, I meant to tack on "other than the UBS upgrade". Could that upgrade have been the only reason we've seen a 17% upwards movement thus far?

Fazeli
Just got off the phone with Richard Marshall at Crystallex, there was no news according to him for the drop other than market related trading, there were 3 rather large trades made at that time, he has no other news on any progress.

CNBC - Anyone else chuckling at their frequent ads on debt consolidation? at their anchors asking "which gambling corp. will next be taken over by private equity"?

Touts N' Gamblers R US !!!!

Thanks tgifbipo

I scanned the news wire quickly after seeing the price dropping rapidly, but nothing was coming up, so I was worried about someone having gotten news before the rest of us...

Still, it's not a severe day for gold, so I don't see why KRY is hurting so badly. Maybe everyone's pulling out to go into IVN :)

Fazeli,

KRY action is probably the Cramer effect. Someone said yesterday that Cramer mentioned KRY and AUY on his radio show. The herd typically piles in on Cramer's recommendation and parachutes out several days later. Look at KRY's run to $6 earlier in the year. This was due to a Cramer mention as well. I started watching it then and picked some up at $2.76. The Cramer downdrafts are good buying opportunities. I will be looking to pick up more closer to $3.