Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (71957)	1/28/2010 10:12:01 PM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

China gold production zooms further as they dig deeper into the atavistic impulses of a bygone era: <http://www.marketwatch.com/story/china-gold-production-at-record-in-2009-reports-2010-01-28 NEW YORK (MarketWatch) -- Chinese gold production topped 300 tons in 2009, a new record, making China the largest producer of the precious metal in the world for the third year in a row, according to media reports Thursday citing the China Gold Association. The association said that gold production reached 313.98 tons last year. Last month, consultancy group GFMS said China would surpass India this year as the world's largest consumer of gold, with total demand forecast at 432 tons. ... continued...> At least the cost of production is way below the current price so if they unload it quickly, the producers will gain. Meanwhile, panic in QCOM shareholders as Apple's iPad turns out to be nothing of interest and certainly not the mirasol, Snapdragon, Android, Gobi device it might have been. "Abandon ship - sell on the iPad news which turned out to be not even news, and what's worse revenue for QCOM was indifferent at best and guidance from Qualcomm was down...arggghh.... sell sell sell, dive dive dive". Good news comes in many flavours. Now Qualcomm can buy back stock at bargain prices [though not such a bargain if they don't cut their costs which are burgeoning like any garden variety corporate megalopolis. NZ$ down and gold racing $kiwi down but QCOM showing the way with serious speed. JPM short still looking good. Mqurice

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