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-- Posted Thursday, 3 November 2005 | Digg This Article
Rick’s Picks Thursday, November 3, 2005 For investors who’d rather be smart than lucky
Of the many questions that I fielded during yesterday’s real-time Q&A session, no fewer than seven concerned gold stocks. Clearly, interest in the miners is on the rebound among Rick’s Picks subscribers. Not coincidentally, we’ve been in there bidding for a piece of the action the last two days. So far, though, the main objects of our attention -- GLD, Comex Gold and Newmont Mining -- have remained just out of reach. Meanwhile, by way of yesterday’s discussion we added the following -- along with some timely analysis and trading advice -- to our short list: Hecla, Durban Roodeport, Golden Star Resources, Goldcorp, and…Crystallex. Concerning that last stock, some of you may recall that, a couple of years ago, I asked for your help in compiling a “Dirty Dozen” list of gold producers. The goal was to prove that the ten worst mining stocks we could come up with would handily outperform the S&P 500 from that point on. Shortly thereafter, a prolonged decline in the miners iced this would-be entertaining project. Is it time, perhaps, for a revival?
Analyst ‘Disappears’ We asked back then for the names of mining companies that had been scandalized, mismanaged and/or publicly disparaged, and you came up with some real winners…er, make that, losers. Silverado (SLGLF), though not without its ardent defenders, was leading the pack from the get-go. However, the following headline, contained in an e-mail message from a subscriber, helped clinch the post position on our list: Gold Analyst 'Disappears' Following Report; Touter of Silverado Stock Rumored to Have Fled Country After Story Ran. We were sure the analyst would turn up somewhere – in Tahiti, perhaps, in the company of Judge Crater and Amelia Earhart – and that the flurry of excitement over his whereabouts would prove to have been caused by a simple misunderstanding. Alas, no one we know has seen the guy since. Concerning the rest of the Dirty Dozen, the stocks listed below are the ones you most loved to hate. Acquisitions and mergers will by now have re-shaped the list, but this may be to our benefit, since it will create room for a some new up-and…make that, down-and-comers. The nominees, in no particular order, were, besides Silverado: Sons of Gwalia, Pacific Amber, Crystallex, Coral Gold, Shambhala, Sedona Software, Barrick, Placer Dome, Ashanti, Vanessa, Richmont Mines, International Wayside, Canyon Resources, Linux Wizardry Systems (like Sedona, a computer firm with a jones for mining stocks), Renaissance, Bre-X (!) and Battle Mountain. There are more than a dozen stocks here, but the ones listed were the grand finalists, so to speak. But with so much water under the bridge since then, these choices should not be considered the final word. Readers? I’d be pleased to resume the nomination process, so send your selections to me, preferably with comments, by clicking here. ***
Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2005, Rick Ackerman. All Rights Reserved. www.rickackerman.com
-- Posted Thursday, 3 November 2005 | Digg This Article
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