Whats gonna happen to the miners? Is this dip going to affect shares?

Discussion in 'Stocks & Derivatives' started by thatguy, Apr 13, 2013.

  1. thatguy

    thatguy Active Member

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    I personally do not see much correlation between price and share price. All the miners seem to have hedged.... so will this price drop even affect share prices, bearing in mind I think it's going much lower? TIA
     
  2. finicky

    finicky Well-Known Member Silver Stacker

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    Is the bear a catholic?
    Definitely I would say - the whole sector will be hit on Monday. I very much doubt whether sellers will be sparing those with some hedging. Most would have only a portion of reserves hedged anyway.
     
  3. MyNamesNotBen

    MyNamesNotBen New Member

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    Monday is going to suck. :|
     
  4. Stackman

    Stackman Member Silver Stacker

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    Yep, mining shares are going to hurt big time. Doesn't matter whether they are hedged or not, the market will perceive they have lost value and will dump them.

    Please ensure your tray is in the upright position, remove any sharp objects from your pockets, and assume the crash position. :p
     
  5. Gold Kiwi

    Gold Kiwi New Member Silver Stacker

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    I just plonked down another $3k on mining shares on Thursday, thinking the bottom was in. Feeling like a right idiot now.
     
  6. SilverSanchez

    SilverSanchez Active Member

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    XGD down to 3765 (currently 3959) over three days)

    If it breaks below that and keeps going longer than three days 3355 may be hit during the week.

    2008/9 low was 2674
     
  7. SilverSanchez

    SilverSanchez Active Member

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    Only if you have no money.... and yes that means for me it will be sucking
     
  8. hyphenated

    hyphenated Active Member

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    All the US miners I keep an eye on took a hit last night, so at least some of the damage is done:

    Symbol Description Last Bid Ask Change Change%
    SLV iShares Silver Trust 25.433 25.43 25.44 -1.27 -4.75%
    GLD SPDR Gold Trust 145.141 145.14 145.15 -5.91 -3.91%
    XAU PHLX Gold Silver Sector Index 117.4430254 0 0 -5.89 -4.78%
    PAAS Pan American Silver Corp 14.828 14.82 14.83 -0.63 -4.09%
    AG First Majestic Silver Corporation 14.08 14.08 14.09 -0.61 -4.15%
    SVM Silvercorp Metals Inc 3.18 3.17 3.18 -0.14 -4.22%
    SLW Silver Wheaton Corp 26.51 26.51 26.52 -1.52 -5.42%
    GG Goldcorp Inc 29.8 29.8 29.81 -1.41 -4.52%
    HUI NYSE Arca Gold BUGS Index 304.4706 0 0 -16.15 -5.04%
    GDX Market Vectors Gold Miners 32.5282 32.52 32.53 -1.65 -4.83%
    GDXJ Market Vectors Junior Gold Miners 14.0444 14.04 14.05 -0.99 -6.56%
    ABX Barrick Gold Corporation 22.9 22.9 22.91 -1.83 -7.40%
    KGC Kinross Gold Corporation 6.34 6.33 6.34 -0.46 -6.76%
    NEM Newmont Mining Corp Holding Co 36.66 36.66 36.67 -1.99 -5.15%
    AUY Yamana Gold Inc 13.21 13.21 13.22 -0.89 -6.31%
    STTYF Sandstorm Metals and Energy Ltd 0.36 0 0 -0.01 -1.37%
    SLVP iShares MSCI Global Silver Miners Fund 16.08 15.94 16.12 -0.84 -4.96%
    HL Hecla Mining Company 3.73 3.73 3.74 -0.22 -5.57%
    SSRI Silver Standard Resources Inc 8.71 8.71 8.72 -0.43 -4.70%
    CDE Coeur d Alene Mines 16.79 16.78 16.79 -0.4 -2.33%

    If I had to make a guess, 4 to 6% off the top all over. And yes, my portfolio will be a sodden red lump dripping blood...

    My plan? Load some fresh dry powder, suck it up, wait for a rebound and indulge in some selective bargain-hunting before the next dip (I mean rise :D)
     
  9. SilverSanchez

    SilverSanchez Active Member

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    If this was a deliberate take down, they knew what the hell they were doing, and it must have cost them an absolute fortune!

    But, they would be making an absolute fortune if it works - make money on the shorts then buy longs on the rebound.

    Wow, all I can say is wow - how do you have a hope of forseeing shit like this
     
  10. SilverSanchez

    SilverSanchez Active Member

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    Id say expect the XGD to be down at least 10% in 3 days
     
  11. SilverSanchez

    SilverSanchez Active Member

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    This will be the definition of 'blood in the streets' so be brave...

    Its a been fu**in' great war - and its been an honor serving with you all...

    Noww...... wait till you see the whites of their eyes, then ATTACK!
     
  12. Phiber

    Phiber Active Member Silver Stacker

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    I reckon it will be a bloodbath
     
  13. shano73

    shano73 Member

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    Well if NST,SLR, KCN & PRU get sold off, I might look to double my holdings of each....let the weak hands panic I say :)

    But thank god for diversification, hopefully the energy, telcos & health stocks will cover the losses expected from PM's stocks.
     
  14. trew

    trew Active Member Silver Stacker

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    Monday might be a good day for putting in lowball out of market orders on gold miners
     
  15. thatguy

    thatguy Active Member

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    mmm thinking of shorting some, will have to do a fair bit of research... busy busy
     
  16. LovingtheSilver

    LovingtheSilver Active Member Silver Stacker

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    ^^ i will be doing the same... KCN NCM EVN CCU. Most of the damage will already be done on open time but should be able put something in my pocket.
    What a rigged game, Im sure those in the know shorted the sht out of stocks and PMs before this dump.. talk about cleaning up.
     
  17. thatguy

    thatguy Active Member

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    we have a similar list... thinking of concentrating on shorting the gold producers as silver has me spooked sitting on the fence @ 25.99 e.g. RRL, GOR, TRY. Will have a go at shorting silver stocks if silver breaks 25.80... yes what a rigged game
     
  18. Silver Frost

    Silver Frost New Member

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    ^^^^^^^^^Ive been sooo patient looking at lower lows, got my short list TRY KCN ,looking to hold and like the dividend % but now worry about the lack of hedge book. TGZ has my intrest as it looks to be emerging as a profitable low cost producer And CCu as a budget punt.
    I see thatguy your looking at shorting not buying ....too early to buy n hold?
     
  19. thatguy

    thatguy Active Member

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    yes shorting... but for sure I will be buying soon enough. Falling knife thing rings in my ear. Gold is at least going to hit it's 50 month moving average down ~ another $50. I would not be game to DCA this beast down. Silver if it breaks 25.80 we will see 21.30 so silver stocks will be shorted IF it breaks down.
     
  20. Pirocco

    Pirocco Well-Known Member

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    A price/shares move on alot markets same time, without clear reason, suggests same entities selling. How much gold and how much silver do they have left to dump?
     

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