There is $ in the market

[bear]

1. I continue to invest in goldshares. South African are my favorite and I am just about double last August.....Durban Roodeport....also like Placer Dome and Newmont for value at these levels.

2. Biotech.....Cell genesis.....pretty good science and anti cancer vaccines etc in Phase 2..... ALMOST FREE cause they have a quarter BIL in cash and another quarter BIL. in Abgenix stock and shares times price is not much more than those assets.

3. Best Strategy for me .....Buy good stocks...MO, PFE, etc... collect dividends and sell calls to gain excellent %....If called buy something else......

bear

 

[bear]

Well,
DROOY (Durban roodeport)..........just appreciated 25 % since last post. Apparently POG in addition to collapse of rand vs the dollar puts these South African Golds in a nice position

bear

 

[Sportsaholic]

gold in them there hills

gold in them there hills

Still licking my wounds from the gold scam 5 years ago. Learned valuable lesson, stocks are like gambling, $ management is the key. Started peeking at them again, but still gun shy on gold.

This hole Enron mess just reminds me of the gold scam, and I can see more companies that chose the same practices being found out from this. I for one will be sitting on the sidelines this time until the dust clears.

Good luck bear!!!!!!!!1

 

[bear]

Sportsaholic,

I completely understand your apprehension!!!
The messier it gets (enron) the more stability suffers and hard assets will be favored around the world.

Strong forces against gold but that does not mean ya cant make a buck at this game...........DROOY rising because of dollar/rand relationship more than POG which , I believe, will also rise as it hits the fan.

good luck
bear

 

[Sportsaholic]

Dont get me wrong, I have my share soda can returnable $ out there investing away ( ARBA-JDSU-NOK-EMC-PETD) and hedging with gold has crossed my mind.

Just keep getting nightmare of Boosang(sp) fraud,scam, whatever they ended up calling it. I had a mining stock at that time that was next to their property. I had sugar plumbs dancing in my head, those plumbs turned to 50g's worth of rabbit nuggets.

Yet another lesson learned guess its like fallen from a bike, just not sure if I'm ready to peddle that route again!!!!

I'll keep an eye on your picks, who knows, maybe I'll break out the training wheels again :shrug:

Good luck!!!!!!!!!!!!!!

 

[selkirk]

Bre-X

Bre-X

sportsaholic there have some very good books written on the subject, one book called Fools Gold The making of a global market fraud. by Brian Hutchinson is a quick and very good read.

sold in Canada at Chapters stores, bought mine for $4.99 as they are getting rid of them, anyways they fooled everyone.

I never believed there was 200 million ounces but until Michael De Guzman fell (pushed) out of the helicopter I thought it was a mine. Always easier to blame a dead man.

anyways a good book, by the way largest shareholder of Bre-X was Fidelty they sold out before most of the carnage because they were afraid of the politics so they never got burned badly, just luck.

anyways a good book about how the stock was promoted, must remember their existed a mania that really kicked off with Diamond Fields a penny stock in just a few years went over $100. and ended with Bre-X.

Enron is a mess but for me nothing comes close to the mining mania in the 1990s.

thanks
selkirk

 

[bear]

DROOY..............up............. 38% today :toast:

 

[Sportsaholic]

DROOY..............up............. 38% today :toast:

That deserves a CHA-CHING!!!!!!!!!!

Congrats Bear!!!!