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« The Economic Alamo | Main | China eyes Canadian uranium miners — report »
Jun132015 Stock Trader Update 13 May 2015

Apologies for beeing rather quiet of late but I managed to get out of the office and hit the road. The first stop was Dubai were I was able to catch up with a couple of gold traders for an update and now I am in London where Im catching up with some old colleages. I find a face to face chat usually reveils more than the usual methods of communictaion, so we will see how it goes. 


The Gold Bugs Index, the HUI, remains under pressure as it closed last week at 155.84, still perched dangerously above its lows of 150 made in 2008; this support level has been tested a few times now and should it fail to hold the ensuing drop could be severe as we have warned about for some time now. The summer doldrums continue with the precious metals sector trading sideways to down with little to suggest that a rally is on the cards. 


This continues to be an extremely difficult time for the producers as the rallies have come in short bursts but soon petered out with most stocks gaining nothing this year.

Many forecasters are of the opinion that it is safe to re-enter this market and acquire precious metals mining stocks, this is a stance that we do not agree with and will continue to oppose until we see hard eveidence of a major turnaround. Be prepared for a number of bankruptcies to make the news if and when gold prices take a dive.

We remain with the US dollar which has outperformed gold over the last 2 years is now undergoing a correction. However, we can see that the dollar is up around 5% YTD and gold is flat, going nowhere.

We are overweight in cash at the moment with 70% of our funds residing in dollars, 15% are in long positions and the remaining 15% is in short positions. Not very exciting for us but we are really happy to have the cash in readiness for the u-turn in this sector of the market. The time will come when we hit the acquisition trail with some gusto but that time isn't now; patience is the order of the day.

'Time is of the essence' as they say so we are using this period to comb through our list of potential acquisitions and filter out what we consider to be the cream of the crop. Our watch list is rather large but there are no more than 20 companies that we would like to own at the moment and we are refining this list even further and get it down to around 12-15 or so stocks.

If you would like to join us in this venture then we would be delighted to have you on board for what is going to be an exciting although at times 'white knuckle' ride

The following is a gentle reminder of some of the previous points that we have made regarding the 'Stock Trader' service:

We issue a trading signal to you via email as soon as we open or close a trade.

We ask that you go gently with every trade and only risk what you can afford to lose. We will usually allocate about 5% to 10% of our funds to each trade.

The fee for this service is US$199.00 per year; there is no 6 month subscription as we want you to stick with us for 12 months, which will allow us the time to prove our worth to you.

We are not financial advisers and do not give financial advice, only access to what we do in terms of trading.

Auto-trading is now available.

Your time and comments are very much appreciated, so please fire them in.

Should you wish to join us in this venture, then you are most welcome

Bob Kirtley


If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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