Three Things
1. It is a long road to bring a mine to development. Along the way, for legitimate projects, there are periods of crushing boredom while the real work is being done over drafting tables and by engineers and accountants, geologists doing dry reports etc.,. Those of us who love the rush of trading and movement in the markets also have to find some outlet or method to just sit still sometimes. It is the hardest thing for me to do, and several of the "notables" like Livermore, J.P. Morgan, Buffet, Templeton have noted over time for most people in the market the very hardest thing to do is "be right, sit tight". I have tons of confidence in KGN.
2. The broader markets are in absolute turmoil and awash in fear and pessimism. The damage done by the '08 crisis and the subsequent Madoff and other disgraces, coupled with bleak global rebalancing difficulties, has scared the pants off retail distribution. This is a market now dominated by professionals. As such it is among the most dangerous to trade. JMHO.
3. I think that NR about a company in which I have a modest stake is wonderful. One of the things I have been up to in my strategies to leave my stock positions untraded is ploughing a little here and there into a growing portfolio of KIVA micro-loans in countries where my investments have borne fruit. Several loans to very small businesses in Ghana - usually just a family venture. Very pleasurable. If I do well by them I want to do a little more to see they do well by me too.
The dark disciples of deflation are having their day today it appears. So lets wait and see if this rally sputters now or can pick up some more steam. Wouldn't be suprised to see the DOW work itself into a pennant formation of indecision while we wait to see what happens. Being a contrarian, I tend to feel a little more positve than most. I see even that old curmudgeon Richard Russell, as dark-tempered as he has been about the markets (stay in gold and cash he sez), has moved into a more neutral "wait and see" posture as Dow Theory has given a non-confirmation signal to the long bear market idea ... could it be the great bull run fueled by cheap oil and semiconductors has not yet completed its destiny?
CG