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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2193)	6/17/2007 1:04:23 PM
From: Mark Marcellus	Read Replies (1) \| Respond to of 6370

And I have to wonder if this is 1999, or are we only at 1996? 1972

To: Bill Wexler who wrote (2193)	6/17/2007 8:47:53 PM
From: RockyBalboa	Respond to of 6370

"The madness of the Crowds" - and here, in other markets; kind of 1999 or 2000. Message 23631774 Housewives Outmaneuver UBS, Deutsche Bank Trading Yen (Update1) By Kosuke Goto June 18 (Bloomberg) -- Japanese businessmen, housewives and pensioners betting against the yen in their spare time are wrecking the forecasts of the world's biggest currency traders. ... Buying on Dips When the yen fell to a two-week low of 162.20 yen against the euro on May 25, Naoko Ogawa, a 34-year-old freelance writer, used a 1,000 euro ($1,300) deposit to buy 10,000 euros. She sold four days later, close to a then-record high of 164.29 yen. ``You just need to buy the dollar and the euro on dips, then sell them at a profit,'' said Ogawa, who added that she has made a 20 percent return on her 1 million yen trading account since December. ``It's better than stock trading, as you can rely on daily interest.'' ...

To: Bill Wexler who wrote (2193)	6/18/2007 2:19:55 AM
From: 8bits	Read Replies (1) \| Respond to of 6370

I've been buying GLD and gold/copper/silver miners (NTO, CDE, NXG) for this very reason. Have you been watching Nickel..? Some of the larger miners have already been taken out.. Inco, Falconbridge, and Lionore (in the process of being taken out..) Trend toward higher sulfur oil will increase need for corrosion resistant components of refineries. FYI: "China Preparing to Double Resource Taxes China Preparing to Double Resource Taxes By Interfax-China 15 Jun 2007 at 10:14 AM GMT-04:00 S HANGHAI (Interfax-China) -- Central government authorities are preparing to double resource taxes covering oil, natural gas, coal and other mineral resources by changing the presently fixed tax rates to a percentage-based scheme that would take into account resource prices, a tax expert told Interfax today. The move is aimed at better allocating the huge profits created by resource price hikes to local governments and curbing excessive exploration and production activities, especially from small and inefficient mining companies, said Hu Yijian, a tax expert with the Shanghai University of Finance & Economics. --> --> --> --> --> --> A proposal containing the changes has been submitted to the State Council, China's cabinet, and could gain government approval as early as next month, the Shanghai-based Oriental Morning Post reported, quoting an anonymous source. The government currently imposes fixed resource taxes based of volume, with rates varying according to quality and operational costs. The current system was put into effect during at a time when raw material prices were low and stable, Hu said. However, resource prices, particularly those of coal and oil, have soared to historically high levels in recent years due to strong demand in the domestic market caused by runaway economy growth. Such price hikes, as well as high price volatility, have given rise to a proposed price and percentage-based tax scheme. As well as better reflecting the scarcity of resource products, the new system is also in line with the central government's intention to revive the country's western regions as local governments of those resource-rich western provinces are likely to receive a huge boost in revenues that can be used to fund other development projects, Han added. China has already lifted local coal resource taxes several times in recent years as part of efforts to reduce waste in coal exploitation operations. The latest adjustment occurred in January this year when the resource tax on prime coking coal was raised to RMB 8 ($1.04) per ton from RMB 3.2 ($0.41) per ton in Shanxi Province, and from RMB 2.5 ($0.32) to RMB 4 ($0.52) per ton in Henan Province. While effectively doubling the tax on resources, the new proposal may only have a limited impact on the country's large energy companies as the tax would still be relatively small when compared to their profits. Small mining firms are likely to suffer however, due to their already slim economic returns, Han said. "Only in this way, by using market mechanisms instead of direct policies, can small coal mining companies be effectively driven out of the market," he added. Cao Xiaoxi, an expert with the Economics & Research Institute affiliated with China Petroleum and Chemical Corp. (Sinopec), the country's second largest oil and gas producer, confirmed with Interfax that the revised resource tax will cut into Sinopec's profits, but not significantly. © InterFax-China 2007. For more intelligence on Chinese metals and mining, click here or contact David Harman in Hong Kong at david.harman@interfax-news.com or (852) 2537-2262." You may want to check out LMC, formed from a merger last year, growing Copper, Zinc, Lead, and Silver production: lundinmining.com