The correction
is over and it's time for a move up
Bob Moriarty
November 10, 2003
Tom McClellan
has been calling it correctly for three months and he's right again. We had
a correction in Sept/Oct and it's over. Gold has tried to burst
through $400 enough times that the next time may well be the
magic moment. I suspect silver is going to surprise hell out
of everyone as it kicks up its skirts and goes north through
$6.
 I'm
going to digress for just a moment. As I was preparing this page
today, some random thoughts passed through my head. Most Americans
wouldn't realize it but November 10th marks the anniversary of the U.S. Marine Corps. But no Marine would
ever forget.
This date in
1775, even before the birth of the nation, a group of men sat
down at Tun's Tavern in Philadelphia to form what would be known
as the Marine Corps, the world's leading fighting force.
I was a Marine
for six years, including two in Vietnam. I wouldn't want to be
a Marine now, nor would I want my children to join. The armed
forces of this country are no longer tasked to defend their country
but rather to wage undeclared wars of aggression against defenseless
countries who pose no threat to us. We aren't fighting for American
interests, we are fighting for Halliburton.
As much damage as Bill Clinton did to our armed forces, what
Bush is doing is far worse. On Veteran's Day, pause for a moment
and give a thought to those who fought and died for your freedom.
Today, the only people fighting for freedom in Iraq, are Iraqis.
I say, give it to them, it's their country, not Chaney's.
Gold and silver
have given investors about as much correction as they are capable.
The Chinese now control the price of gold and silver and nickel
and zinc and indeed the dollar itself. You can wander around
the web and read Soros and Buffet and many others expound on
the chaos we all know is coming. It has started and the price
of gold/silver stocks is ready to roar.
I'm going to
have to stop listing a dozen or more stocks I like, most of my
nifty 15 have already rocketed. There are a few laggards who
still represent great value and since I consider them core stocks,
I don't mind mentioning them.
Northern
Orion
is still my favorite copper stock. It's doubled and still cheap.
Cardero is hands down the most interesting silver stock.
It has a Peru kicker which the market values at zero and a Mexico
property just as ignored. I called the stock a 15-bagger well
before it dropped to $.55 based on bad drilling supervision and
it's still a 15-bagger.
Desert Sun keeps advancing their
Jacobina property. They took advantage of a higher stock price
to do a new financing and are now in position to go into production
at Jacobina. If the market valued the stock at what other deals
are being done, their just short of 4 million ounces would be
worth over $5 a share. They anticipate production costs of US$189
per ounce. At a share price of Canadian $1.75 or so, they represent
great value.
website: Northern
Orion
website: Cardero
website: Desert
Sun
Bob Moriarty
Archives
Email bob@321gold.com
________________
321gold
Inc ref: 09129
|
