An irreverent look at Wall Street
The “market callers” who are (almost to a man!) calling for big moves northward in 2008 will be coming to the public “hat in hand” as we get into the latter part of the year. These people will be roundly discredited and yet another wave of so-called “analysts” will disappear from the scene, along with all the money the chumps who listened to them lost.
Never traded in the US markets in my life. Saw your post about MGOl and all the amazing plays you were makin, and though id give it a shot..... i put in a small amount honestly, like 5K, but here's the thing, i had to do it thru my dad, bcuz i dont have access to markets there.m8, whether you sold off at the 9's and 8's to ppl like me, i really dont know. and if you did, its fine, i'll consider it a lesson. It was my decision in the end.I now consider the hit on Mgol as a full loss, and again, its fine, it was a tiny amount anyways. However, its killin me to know, did you pimp this stock so you could offload? If you did, hats off, well done.Im just curious, thats all. (Posting it here so maybe you would answer me honestly), not like its a secret, but maybe its better if others who lost big on this dont hear they got duped in their face. Cheers, love your blog still. Big fan.
Heck no! But there was a person that had a massive short position that was reflected in DTC who was hellbent on trying to manipulate the stock down.Apparently he thought that they were doing a floorless convertible to raise money.Didn't happen. So we'll see what happens to him on buying his shares back.They have the gold in the ground--and I'm holding the name. But stock prices, even if they are wrong, reflect what others think about the business.I know that one of their financings (and it was a substantial one) probably was delayed a bit because the lower share price made them take another look. It was, however, a financing on the gold in the ground.I'd hold on. If the geological work is anything close to accurate, it will easily be 10X on the stock.Don't write it off. I think you should hear something substantial in the next couple of weeks. By then, we should have some drill results.They can then get the money from that.If you get bagged, then I'll be bagged. I eat my own cooking, and have never engaged in a pump or dump, nor never would.The only thing you have in the stock business is the relationship you have with others. You need them, to help with information. The cardinal, and unforgivable sin, is the pump and dump.There is NEVER any excuse for that. This market game is tough enough; honest mistakes are forgiven; deliberate are not.Now I haven't seen the other contracts, which show that the other land, outside of the mines they have on their website, are owned by the company--but I did sit through an investment presentation that showed that they were.I assume that they will be vended in with the company, as the SEC filings indicate.If however, they are not, and all of the assets remain in the holding companies, instead of the shell which has the mine and other dredging operation, then a fair price for the stock would still be around 10.I don't think that is possible. $35 million was raised by those on the inside--what good would it be then to them? Money was raised at 10.That means the insiders would of gotten completely shafted. I just don't foresee that happening.Thus I think the story plays out as I thought--and eventually we will find out what caused the selling or what precipitated it.
Follow this and it will give you an idea. Now remember, I flew over this area in a helicopter.http://www.scribd.com/doc/20775734/Drill-Hole-Location-MapAll around the property was massive development by other mining companies, and history tells us that the Nechi River is one of the largest placer gold deposits in the world.From Colombia Govt 1998http://minerals.usgs.gov/minerals/pubs/country/1998/9507098.pdfAnglogold is drilling in Colombia with partner Mineros SA which is dredging right next to MGOL's properties You can read about it at their annual report.http://www.anglogold.com/NR/rdonlyres/1103A1F1-D744-4220-B726-6E48242F7039/0/Colombia2008.pdfThen check this out. Here's the company that makes the dredges for Mineros SA who has partnered with Anglogold in Colombiahttp://www.ihcholland.com/fileadmin/documents/news/news_archieve3/pd152_22_23.pdfOn the second page, right above the orange and yellow chart you can see that Mineros is minting money with gold at 144mgAu/m3.Now look at the MGOL maps on scribd. See where they are drilling? Now look at the drill-hole-data--You have 2826, 1726, 1346http://www.scribd.com/doc/20778519/Drill-Hole-Data See the table on the right. Blow it up. Look at the concentration of gold at R5.2-160.2, R8.8-159, S 158.4 all by the banks of the Nechi River. You have 1012, 1346 and 2826 for an average of 1728mgAu/m3 versus 144 for Anglo--10X what Anglo has, and they are tearing up the land and dredging the piss out to get at. Now this company has 10X theirs?That means you should have a motherlode of gold there.That's why they keep their mouth shut. And this is just one property.If the data is correct, and the properties get vended in MGOL as they say, you could eventually have a world class gold company.That's the potential. So it doesn't matter what the stock market says the company is worth. It matters what is in the ground.If the gold isn't there, then why did I see people panning gold in the river getting about $200 a day (big money in Colombia) with a prospectors pan.Did someone call these people in this remote area with a cell phone to tell them some Americano investor was looking at the property? Did someone plant flakes of gold on the ground? Did someone know where to drill a hole to bring up gold that I had in my hand? Did someone know that I was going to the Ministry and get some data that no-one thought would happen?I doubt it.It seems that the obvious explanation is that someone tried to raid the stock down. Maybe someone knows what they have, and maybe someone wants it.At least, that is how it appears to me. But we'll see. It's in Colombia, and it has a lot of moving parts, but I'm sticking around until they have to carry me off of the field.I may be wrong, but I'm in the camp that believes.
Ok, first, an apology for ever doubting you. ( some joker on the yahoo finance message boards said that the super pimpers are all over this, and it put doubt into my head)Second, Thank You. for taking the time and effort into answering me the way you did.In middle eastern culture, as to not jinx a person, we knock on wood. And i dont want to jinx you by saying you're the smartest person ive met on matters of the markets. (so im knocking on wood now). Technical analysis and fundamental are both important, but you've got that 3rd dimension, the wit to really see whats going on.Ive told everyone i know about you, but no one bothers to read the link, or believe that someone really is that good.On Mgol, im doubling down as soon as that joker shows his face again. Hell, maybe even double double down. You believe in this story, and i believe in you ( as gay as that sounds, lol), so i guess im a believer too.. We'll see what happens.Expect a bottle of champagne delivered to you from the other side of the globe when this baby takes off. Till then, keep up the good work, you wont believe how much ive learnt and benefited from your posts. Cheers
Well, it is amazing the news that gets posted on the yahoo message boards, and some of it is correct.I think the individual he/she was referring to was this guy, who tried to muscle his way into the company, who got muscled out.http://twitter.com/santebiHe's a big Hollywood player, but IMHO he is devoid of moral instincts. You can see his Hollywood connections by his facebook pagehttp://www.facebook.com/steven.antebi?_fb_noscript=1He lives in a $15 million home, high up in the highs of Belair,http://virtualglobetrotting.com/map/steven-antebis-house/view/?service=1and has a exceedingly lavish art collection.What I think happened is he has engaged in consulting activities of much smaller companies, and judging by what I've seen of him, some of the companies he has promised to invest in or to help, were left hanging at the altar. I've only formed that opinion from the SEC filings on the companies that he was a consultant to, the price at which he sold stock that he purchased, and the current value of the companies now.Because of that, I think people tried to hurt his "next" deal.He was then rebuffed by the company, but he caused some damage by his name being associated with it. He probably misrepresented himself to others also with his "role" in the company. I don't know if that's quite what happened, but that's the opinion I formed.At one time, he was a really big player on Wall Street. He still says he is. I don't know if that is the case now even though he represents that he still manages billions of dollars. It appears to me, that some people on the street don't trust him. Put me in that same category.I think that's where the "super pump" story came about. He was going to put millions and millions in the company (or so I heard) but he wanted to do it at a big cost.He wanted his interests first.It didn't happen that way, and the company said thanks, but no thanks.So I think that's where the "pump" side of the story came from.Thanks for the kind words. I just try and do my best, and put out things in an unvarnished way.Believe me--any losses hurt. That's why I never understood how those who make all these wrong calls, always seem so non plussed about them. It must mean they're not eating their own cooking!I've been trading since 1981--and I've always had to live or die by my own mistakes. So hopefully, we'll some day able to share that bottle of champagne.Knock on wood!
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