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Re ABX and eeos
Going back a while, when the PM’s were always under the cosh of the Scum……a movement started among the miners to not hedge , in the hope the scum would be b starved of metal to deliver…ABX always refused to join in and hedged 100 %…..and became among bugs the true pariah.
eeos is a bug of high principle…..
I wonder how big their hedges are today…..
D’oh!
healthbot
@thehealthb0t
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19h
Netflix pulls documentary on root canals causing cancers after dentists threatened to sue.
Putting some brakes on the downside?
Mr. Uppy
@MisterUppy
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18h
39% of fund managers admit their gold allocation is basically zero.
Average sits at just 2.3%.
The herd is asleep… perfect setup for gold to rip when reality hits.
Morning Buygold
You’re right … $2billion isn’t so much, unless it starts a domino effect where the companies supposed to be paid can’t make their payments and so on down the line. That’s probably not going to happen here beyond a few cos. Probably the greater problem is that there are likely many other cos in the same situation. “There never is just one cockroach theory.”
Nice to see the shares turn around! 🙂
Stepped away an hour ago
and you guys bought up everything in sight.
Just wow. Again.
Rates starting to firm
Dollar as well. PM’s don’t care for it all that much and the shares seem to be softening. Metals still holding with silver up 1% but…
The 10 yr. is now up 13 bips since they cut .25. Seems like the cut is rather irrelevant, just as it was last year.
That’s a fast turn around
I figured it would take a trading day or two more if only speculators taking money off then start to climb again. Just amazing.
Morning Ipso
Looking at the subprime auto collapse of Tricolor and wondering how $2 billion could be such a big deal. Unless, of course, we have a whole bunch of companies using that collateral as security for their 10 and 20 times levered bets on other assets. Then I suppose Houston, or rather Dallas, could have a problem.
If it becomes a thing, I’m sure the Fed and Powell will tell us that no one could see it coming.
Seems like another reason to be buying pm’s.
eeos
I don’t own Barrick, I’ve flipped it a couple times during this run but someone else here might own it.
Do you care to make a case as to why you think that?
Back on the horse?
Maybe one of the shortest corrections on record. Not sure it could be called a correction, although it did do one thing, it got the RSI’s of SLV, GLD and $HUI below 70. Not by much, GLD and HUI still 69 and SLV more cooperative at 62.
So we start the morning up, despite the dollar mildly higher and the 10 yr up a bip. I’m assuming that will change as the day goes by to support the move in the metals.
The rest of the markets are flat, Crypto, SM. Oil is down near 1%.
I guess we shouldn’t look a gift horse in the mouth. This has been amazing.
Here’s a truth pill
I consider ABX to be a fake gold miner stock. Darth Vader for sure
