GS P&F

6/24/2010
Rochdale analyst Dick Bove lowered his projection for Goldman Sachs [GS 133.64 -1.43 (-1.06%) ] earnings to $1.93 a share from his prior estimate of $2.93 a share, citing a variety of factors, including a slowdown in the economy and a hefty charge for a one-time bonus tax in London. Not only is the estimate a full dollar below his prior estimate, but it's less than half that of the mean estimate of $4.10 a share.

GS P&F Bearish

Shares of Goldman Sachs Group Inc. closed down nearly 13% on Friday

http://www.marketwatch.com/story/b-of-as-rising-home-loan-losses-weigh-on-banks-2010-04-16?siteid=rss

Obamacare

So they just passed a health care plan written by a committee whose chairman says he didn't understand it, passed by a Congress that exempts themselves from it, signed by a president who smokes, with funding administered by a treasury chief who didn't pay his taxes, all to be overseen by a surgeon general who is obese... and better yet it is to be financed by a country that's broke? – Anonymous Facebook poster

Watch Goldman Sachs Group, Inc

Is GS showing signs of a market correction? Our new canary replacing Merrill Lynch.

EA Approval for Terrane Metals

Terrane Metals Corp.: Mt. Milligan Gets EA Approval From Government of Canada

GDXJ Junior Gold Fund Holdings

Andean Resources Ltd (AND.TO)
Avoca Resources Ltd (AVO.AX)
Dominion Mining Ltd (DOM.AX)
Kingsgate Consolidated Ltd (KCN.AX)
Medusa Mining Ltd (MML.AX)
St Barbara Ltd (SBM.AX)
Alamos Gold Inc (AGI.TO)
Aurizon Mines Ltd (ARZ.TO)
Colossus Minerals Inc (CSI.TO)
Detour Gold Corp (DGC.TO)
European Goldfields Ltd (EGU.TO)
Fronteer Development Group Inc (FRG.A)
Gabriel Resources Ltd (GBU.TO)
Gammon Gold Inc (GRS.N)
Gold Wheaton Gold Corp (GLW.V)
Golden Star Resources Ltd (GSS.A)
Great Basin Gold Ltd (GBG.TO)
Jaguar Mining Inc (JAG.TO)
Kirkland Lake Gold Inc (KGI.TO)
Lake Shore Gold Corp (LSG.TO)
Minefinders Corp Ltd (MFN.A)
New Gold Inc (NGD.TO)
Northgate Minerals Corp (NXG.A)
NovaGold Resources Inc (NG.A)
Romarco Minerals Inc (R.V)
Rubicon Minerals Corp (RMX.TO)
San Gold Corp (SGR.V)
Semafo Inc (SMF.TO)
Silver Standard Resources Inc (SSRI.O)
Silvercorp Metals Inc (SVM.TO)
Ventana Gold Corp (VEN.TO)
Lingbao Gold Co Ltd (3330.HK)
Avocet Mining PLC (AVM.L)
Real Gold Mining Ltd (0246.HK)
Allied Nevada Gold Corp (ANV.A)
Coeur d Alene Mines Corp (CDE.N)
Hecla Mining Co (HL.N)
US Gold Corp (UXG.A

Watch China?

China's Shanghai composite, which closes before New York's open, plunged 3.4% in heavy volume. It was the Shanghai's biggest one-day drop since late August. Is this our new canary in the coal mine?
Update:ok for me to blog--will continue with usual restrictions and cautions

I Passed My Series 65 Exam

This afternoon I passed my Registered Investment Advisor Series 65 Exam. I found it moderately difficult and if I had realize the "trickiness" of some questions I would have spent more time in preparation. But I passed!!!

I plan to open a wealth Management office in Fort Smith Arkansas with an associate, Clint Sands, in January 2010 when my licensing is complete and our business plan is up and running.

I have been advised once my registration is complete that I should quit blogging and I will respct this advice. To all my readers I thank you for your comments and God Bless.

Paul I Wills, M.D., F.A.C.S.

TRX CLOSES AT NEW HIGH

TRX.V (TERRANE METALS) CLOSED AT $1.33 UP ALMOST 15% . I THINK THIS STOCK CAN RUN, RUN, RUN. GOLDCORP MAY BE LOOKING AT THIS AS A POSSSIBLE TAKEOVER TARGET SINCE THEY PROVIDED LONG TERM FINANCING OF THIS PROJECT.

I TAKE MY REGISTERED INVESTMENT ADVISOR EXAM (SERIES 65) THIS THURSDAY AFTERNOON.

Broad Markets approaching a top???

Watch for signs of collapse in chinese markets FXP

IBD has issued a buy signal.

JUNIOR MINING ETF

A new ETF was launched today GDXJ

Should be fun to watch.

IBD Market in Correction

TRX and Gold to all time highs

PM prices continue Bull run on high volume.

Market in correction mode, TRX new highs

Continue to watch distribution days and insider selling. Nonconfirmation signal by $TRAN and dow theory. TRX breaks out to new high. I predict broad market and $INDU will test March lows.

Terrane metals up

Terrane Metals Corp. (Public, CVE:TRX) Watch this stock Find similar stocks Find more results for TRX S&P TSX Ven... 1,277.85 -0.29%
TRX 0.580 38.10%




0.580 +0.160 (38.10%)
Sep 23 - Close
CVE data delayed by 15 mins - Disclaimer Range 0.50 - 0.65 52 week 0.09 - 0.65 Open 0.50 Vol / Avg. 6.24M/0.00 Mkt cap 71.46M P/E - Div/yield - EPS -0.01 Shares 123.20M Beta 1.25

One blog site mentions 4 elephant deposits--has been granted mining permit recently.

Call for Audit of Federal Reserve Bank

Why are you not screaming for an audit of the Federal Reserve Bank?

See this link
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=adjvXg1zP.zY

An audit will bring to the light of day severe conflicts of interest in how appointments for the bank are determined and also shed light on the Federal Reserve’s mismanagement leading to the severe financial crisis of ’08. Both political parties are equally responsible for the financial mess we are in. This crisis has hit those of retirement age the most and is a worldwide crisis but has hit the hardest in the USA.
http://www.moneymorning.com/2009/02/16/pension-relief/

I am a 66 yr old retired physician with over 3.5 million in assets but I am studying to become a Registered Investment Advisor and continue to self direct and manage my own retirement funds. I was fortunate to “time the market” and stepped aside in November ’07 from the stock market impending collapse.

Market remains in correction

"Despite gains the past two days, the market remains in correction mode. That means stock purchases should be avoided until a major index triggers a follow-through day.
A follow-through involves a significant index gain in increased volume. It can't occur until the fourth day or later of an attempted rally.
An attempted rally begins with the first up day after the market goes into correction. The count continues as long as the index doesn't undercut the prior low.
The past two days of gains, therefore, constitute a rally attempt"
IBD today quote

Market Enters Correction and New Ideas for Health Care Reform

IBD shows 5 distribution days and market in correction. I will sit this one out except for precious metal stocks. I suggest you watch the Asian markets closely for signs of possible financial panic. Too many people I know have lost jobs and two income families are struggling to get by on one paycheck.

I have been advised that once I become a RIA that I should discontinue this blog.

I plan to take the test in October. I am starting to adapt to my slowing down. I am training for a 5K run and plan on opening a wealth management office soon.

Today I jogged 1 1/2 miles and walked 1 1/2 miles. My USGA handicap index has dropped to 12 and my range of motion massage in the middle the afternoon was a far cry from my usual day in the O.R. doing 10 to 12 cases and then seeing 30 patients in the office--making a trip or two to the E.R. and taking night call every other night. My wife has a sign over our garage entrance that says, "a golfer and a normal person live here."

Last week my retirement party was a wonderful celebration of my life as an ENT surgeon--all 4 of my colleagues I practiced with attended and 60 other friends including my hospital CEO (retired) who made some very kind remarks about my contribution to our hospital.

My visit to Phoenix to the Barrow's Neurological Institute was very rewarding. A change of medication and a very good report otherwise. I wake up each morning grateful for having served in a "helping profession" and grateful for new challenges and trails to explore. I am taking a lot more time watching the river birds each morning outside my Arkansas River room and boat dock. My artifical putting green and swimming pool have finally been utilized the way I had intended them to be used. I will travel to my beloved Horse Shoe Bay Texas home soon for some Texas Hill Country golf when the weather cools.

I have a simple solution for health care reform--outlaw all medical advertising including pharmaceutical ads aimed at the consumer--make all insurance portable and expand medicaid coverage to all uninsured but use private insurance and individual and group medical practitioners in a Coop fashion. For those that say this is too simple a solution I say we did it before with tobacco advertising and the savings would be much better spent providing health care for the uninsured. I am not politically naive--I helped the AAOHNS andthe ACS form their political action groups. When Clinton was in office I visited with Hilary's Reform team about "MY Arkansas Plan for Health Care Reform." I much prefer capitalism and the free enterprise system and a "SEC Type" oversight would be much preferable than a massive Federal System--look how they have screwed up Social Security and the Post Office and now we trust our Government to run all of health care? Very few knowledgeable physicians or nurses would choose an inner city government run hospital over a well run Cleveland Clinic or Mayo Clinic or MD Anderson.
Email me at pwills@cox.net if you have inovative solutions and cost savings for a "privativation of health care".

Transports confirm Market Rally

IBD market in confirmed uptrend
Dow Theory Letters--Richard Russell turns bullish but says this is still a rally in a bear market. Transport Ave confirms current rally.


On a personal note I have retired from the practice of ENT Surgery beginning July 1, 2009. I am pursuing continuing education to become a Registered Investment Advisor and plan to take the series 65 exam.