Gold and the Market

[alevin]

Amazing that anybody would buy gold at these levels. Hey, anybody see that insider (Robert Allison) at FCX who dumped $1.6 million in shares in the open market last week? His last open market buy occurred in October 2008, right near the bottom of miners.
Check this link- http://finance.yahoo.com/q/it?s=FCX+Insider+Transactions

Gold is not immune to what lies ahead. This whole entire market is broken. I wonder if the FCC stepped up and canceled this trade below in the AH Friday. A nice 70% discount in the blink of the eye.

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I took a look at the link. Trying to see what you'r seeing, but not. The insider activity link now starts the record in Nov08 when he disposed non-open market. Everything he's done since then was acquire-nonopen market, up through June this year.

When I look at the AH, a few minutes earlier somebody bought (sold)? at the same exact price-just missing the 1 in the front-same # shares.

seller/buyer changed their mind-tried to /buy/sell at same price as a few minutes earlier? Looks like a misprint on the price,-the misprint got cancelled?

I'm long in GDXJ and have been since Dec 09. trying to hang in long enough to sell at longterm cap gains price. hope I can make it.

 

[Bullitt]

Alevin,

You're seeing exactly what I'm seeing but the difference is that since I once owned FCX I used to follow the insider transactions. (The Yahoo finance just missed going back far enough.) I like the insider transactions more than the voodoo charts.

Here's his purchase of 20,000 shares on 10/28/2008.: http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5945134
According to the SEC: Code (P) is open market purchase or private purchase.

When I follow insiders, I don't bother with companies like GOOG because they pay employees in stock options so it's very convoluted. I watch many other mining stocks as well and the amount of insider selling the past 3 months has been unbelievable. I don't recall any of those companies having too many open market buys in 2010.

Good luck on the LT cap gains. It's good to see that there actually still are 'investors' out there.

 

[alevin]

Thanks Bullitt! I checked out the 10Kwizard site. which level do you subscribe to? I've been trying to find a site where I can get access to these kinds of documents-MarketWatch shows when something has been filed but their links don't take you to the actual document filed. erg. looks like this is what I've been looking for all along.

I am forced to be an "investor" in the brokerage and Roth brokerage accounts-funds too small to be paying out commissions regularly, why I do a heck of a lot of research before I buy anything, and why I'm still sitting about 50% in cash at this point, after selling BP for a loss earlier. Hoping the GDXJ gains will offset the losses by the time I sell, cover the commissions and still show some after-tax profit.

other few holdings are just muddling along up and down in trading range, upper end at this point.

 

[Bullitt]

Look at the top holdings in GDXJ and then once a week, go to iStockanalyst, or yahoo finance (easier to use) and look up the insider transactions for each and every individual stock in the index. Make sure you look for open market buys/sells, not options or awards.

As for 10k Wizard, I wish I could subscribe, but I don't. Go to iStockanalyst and type in your ticker by quote. Then go to insider SEC Filings. I usually go to yahoo finance first though.

As for cash, I'm sitting on a bit myself. I hope these site help you in your research.

 

[alevin]

Alevin,

Here's his purchase of 20,000 shares on 10/28/2008.: http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5945134
According to the SEC: Code (P) is open market purchase or private purchase.

Nother question for clarity-private purchase (P) means the same thing as open market purchase (P)?

 

[Bullitt]

Correct. You're looking for a "P" for purchase or "S" for sale. These pertain to the individual account, not stock options or awards.

Check page 6 at this link: www.sec.gov/about/forms/form4data.pdf