SHORT YESTERDAY AT $16.75Friday Jan.22,2010,
Closed today at $16.20 range if you shorted yesterday at $16.75 on a thousand shares you are up $500.00 profit today if you closed out near the close.
If not I am sure Monday will bring you more profit.
Usually Ivanhoe is high closed on a Friday for all to read on the weekend papers or on their computers and to put their orders in for monday morning.
Every Monday for the past 4 months other than a couple they have a rally up in the morning to scare the little investors into thing they won't be able to buy their Ivanhoe stock which causes them to change their orders from Price limited orders to Market orders which than causes Ivanhoe to streak up causing even more market order buying.
Market order buying or selling is when you go temporally insane and say or type in to your Broker-Trader account that you are willing to pay any amount that is asked. How crazy is that?
Thats like going to a car lot or buying a house and saying you will pay whatever they want. How often do you do that?
Obama is coming down on the Banks cause they have been manipulating the market in a huge upward trend for 9 months when everyone knows the world econamy is going in the tank.
The housing industry uses more copper than any car does or ever will even when they build all electric cars for a few rich people.
You see the electric car is no good for the working class cause they are too expensive and these commodity speculaters are making sure they will be by buying up futures contracts for higher prices. Plus most of the working class live many miles from were they work and the electric car won't make the round trip commute due to its battery limitations.
Now the housing market is not going to grow like it did the last 20 years cause we have all us baby boomers born after the second world war up to the late sixty's dying off at early ages of forty, fifty and sixties which is starting to leave a lot of well built houses empty.
The USA and Canada have a housing surplus which means low use of copper and wood and all supplies for the next few years compared to what it was the last few years.
The price of stock paid these days is way overpriced for the dividend paid by the company you use to collect 4% to 8% or higher before now you are doing good if you see 3%
So when will Ivanhoe pay a 3% dividend maybe 2016 maybe never?
So why are you paying $16 to $18.49 for Ivanhoe stock other than a perimid scheme hoping someone will be conned in to pay a higher price so you can sell your shares at a profit to them?
Maybe that someone else might get wize and find some other safer company that is investing in a stable controlled Government honest run Country to invest in.
You see Ivanhoe is a highstakes gamble due to a number of factors.
Un stable Free Trade the US has just put a import Duty on Chinese Steel which will help the USA Job Market and USA home based Steel manufacturing.
Whats stopping the USA from putting a duty on Copper or any other metel imported from China? Nothing in the future.
The USA, Canada, Mexico South America,have more than enough minerals we don't need anything from China.
We just need how Government to change some polices to create jobs for us here and a fair Taxation policy for companies to remain manufacturing here and lower our costs so that we can all live a decent life like we did before.
Ivanhoe has huge costs to maintain its exploration and will empty its bank account this year twice over to get the mine going in mongola so where is the rest of the money going to come from we are talking well over another Billion dollars.
We all know that the economy is tanking today another Pulp Mill in BC anounced it was laying off and closing down its paper recycling business so BC will have no more recycled paper facilities.
The price of Gold is dropping and talk about Gold the last Drill holes for Gold in Mongola were such low Gold grades worked out to about $60 per yard of rock and that Gold was over a thousand feet below ground. They have to bring that rock out of the ground crush it and smelter it to get the Gold and than divide up the profit cause Mongola owns 35% than the investors of Ivanhoe need to get there interest and what will that leave for the share holder.
I say that untill Ivanhoe gets the mine bult and running and the first couple Quarters are showing a profit I see no reason to get in a panic to buy IVN.
If you don't want to lose your money than don't buy Ivanhoe till you see some results and there will be lots of better chances to invest wizely.
Right now Ivanhoe is a roll of the dices a cut of the cards a pull on the slot machine you get my drift?