Armed Polite Society
Main Forums => The Roundtable => Topic started by: Ben on May 30, 2017, 10:21:07 AM
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What are the hive mind's thoughts on Cobalt? I've been reading some stuff that suggests it will be the "breakout" metal in the next decade regarding electric cars and other portable electric uses that rely on Lithium-ion batteries.
I know there are major battery developments in the works. I don't have the technical knowledge to know if they also rely on a cobalt component or not.
US Cobalt stock is so cheap right now I was kinda thinking of putting a very small amount of money into it and forgetting about it, ala Kevin Malone ("If anyone gives you 10000 to 1 odds on anything, take it!"). :laugh:
Non-detailed overview, but this gives an example of what some of the stock world is thinking:
https://www.yahoo.com/amphtml/finance/news/5-biggest-winners-electric-car-233000448.html
US Cobalt (USCO): http://www.google.com/finance?q=usco&ei=osEuWcCjCYfCjAHF6pnAAg
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http://www.npr.org/sections/alltechconsidered/2017/05/22/529116034/at-94-lithium-ion-pioneer-eyes-a-new-longer-lasting-battery
https://news.utexas.edu/2017/02/28/goodenough-introduces-new-battery-technology
Maybe.
https://qz.com/929794/has-lithium-battery-genius-john-goodenough-done-it-again-colleagues-are-skeptical/
Anyone else, I'd be skeptical as well. But I mean, literally the guy invented modern lithium batteries so he has a bit of credibility. If zombie Einstein rose up from the grave and said he had some interesting take on relativity, one would be at least willing to hear him out.
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Just FYI you need to fix the URL to Yahoo. Delete the gobbledygook after "USCO."
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I have read some interesting stories about the instability of cobalt production, and bush wars fought thereto. Most of the cobalt comes from central Africa and I think China has moved into the area in a big way, as part of their push to secure rare earth production important to electronics manufacturing.
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My speculative metal is tungsten. We produce zero, China over half the world's supply, and the stuff is used a lot in war and heavy industry. I don't want to buy stock, just tooling inserts I can use and welding electrodes. A lot of them. In general almost anything that comes out of the ground isn't getting cheaper. The developed world wants its tech, but screams bloody murder if you dig a hole to get the raw materials.
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Just FYI you need to fix the URL to Yahoo. Delete the gobbledygook after "USCO."
Oops, sorry. Done.
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I have read some interesting stories about the instability of cobalt production, and bush wars fought thereto. Most of the cobalt comes from central Africa and I think China has moved into the area in a big way, as part of their push to secure rare earth production important to electronics manufacturing.
The cobalt production in Idaho was really interesting to me. I would have assumed our major sources would be in mostly sketchy countries. I'd like to dig around and see what the productrion costs are for the domestic product vs the African product.
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https://www.washingtonpost.com/graphics/business/batteries/congo-cobalt-mining-for-lithium-ion-battery/
http://www.globalresearch.ca/lithium-ion-batteries-tech-boom-fueled-by-40000-congolese-child-miners/5519187
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Hmmm . . . wondering where I use cobalt. I recently bought some cobalt steel tooling for my mini-lathe, and I'm pretty sure Japan drier contains cobalt compounds, but other than that, nothing is really coming to mind. I'm sure it's in some other products I have, or is used to produce them, but I never really considered what the source is.
The developed world wants its tech, but screams bloody murder if you dig a hole to get the raw materials.
I read a story a year or two back that rare earth production in the USA was effectively shut down by the regulatory burdens imposed on US mining. Same with lead mining.
China has been popping champagne corks ("Mao's Finest Bubbly") in celebration and laughing at us ever since.
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Lead mining is the tip of it. We don't even refine lead anymore, last one shut down because the cost to upgrade to current environmental standards was too damn high. I actually like environmental protection, but we ought to subsidize strategic industry if we want it when other people take their trading ball and go home.
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Sounds like I need to look into making an investment.
My speculative metal is tungsten. We produce zero, China over half the world's supply, and the stuff is used a lot in war and heavy industry. I don't want to buy stock, just tooling inserts I can use and welding electrodes. A lot of them. In general almost anything that comes out of the ground isn't getting cheaper. The developed world wants its tech, but screams bloody murder if you dig a hole to get the raw materials.
That's probably not a bad idea.
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For those of us whose stock purchases are limited to our 401k through work, who do you use to make occasional (or even frequent) purchases like this?
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For those of us whose stock purchases are limited to our 401k through work, who do you use to make occasional (or even frequent) purchases like this?
I've only done a few small transactions ever, but I have an e-trade account. Seems good, but I'm certainly no expert.
Just FYI you need to fix the URL to Yahoo. Delete the gobbledygook after "USCO."
It should actually say "SCTFF" https://finance.yahoo.com/quote/sctff
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I've only done a few small transactions ever, but I have an e-trade account. Seems good, but I'm certainly no expert.
It should actually say "SCTFF" https://finance.yahoo.com/quote/sctff
USCO is different. I don't know what's up with the Yahoo link. I changed it to Google finance and that one seems to be working.
As for making small trades outside of 401Ks, etc. I use Ameritrade, but there are several good trading companies you can use. Most of the top ones on a web search will be pretty similar and safe.
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USCO is different. I don't know what's up with the Yahoo link. I changed it to Google finance and that one seems to be working.
As for making small trades outside of 401Ks, etc. I use Ameritrade, but there are several good trading companies you can use. Most of the top ones on a web search will be pretty similar and safe.
Interesting. If you google "USCO stock price" and "SCTFF stock price" they are both linked to US Cobalt. But in the Google Finance popup showing the stock price one says "OTCMKTS: SCTFF" and the other says "CVE: USCO". Both with different prices. Under E-Trade, US Cobalt only comes up under SCTFF.
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Interesting. If you google "USCO stock price" and "SCTFF stock price" they are both linked to US Cobalt. But in the Google Finance popup showing the stock price one says "OTCMKTS: SCTFF" and the other says "CVE: USCO". Both with different prices. Under E-Trade, US Cobalt only comes up under SCTFF.
Huh. I have to investigate more. Seems strange that a single company would be on two different markets. Perhaps they are different divisions, sort of like what ALCOA did.
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Sounds like it came from when they changed their name from Scientific Metals to US Cobalt, https://finance.yahoo.com/news/scientific-metals-corp-announces-name-080000988.html I think SCTFF might of been their old ticker symbol and now it is USCO. Not sure why it would still show up as SCTFF though unless their is some sort of official date when names change or something. And really not sure why they would show up with two different stock prices.
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Two different exchanges ??
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I have read some interesting stories about the instability of cobalt production, and bush wars fought thereto. Most of the cobalt comes from central Africa and I think China has moved into the area in a big way, as part of their push to secure rare earth production important to electronics manufacturing.
The vast majority of cobalt production worldwide is as a byproduct of copper and nickel mining. IIRC that accounts for around 80-90% of all cobalt produced. Dedicated cobalt mines are rare because A) copper and nickle mines historically produced more cobalt that was needed anyway, and B) cobalt is rarely found in high enough concentrations to be the prime target of a mine. Now, B) could be mostly a by product of A in that it hasn't been worth looking for concentrated deposits of cobalt before.
A primary cobalt mine that is already producing is probably a decent bet for investment. Proposed mines (cobalt or otherwise), or even ones deep into the planning and permitting process, not so much. The capital required is massive, time lines are very long, and the odds of ultimate success are far from a sure thing remote.
If I was going to invest in cobalt I'd be looking at refiners, or other companies that buy cobalt ore concentrate to turn it into something high value.
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So I tossed some play money at US Cobalt. Bought 100 shares at 0.5328.... we'll see if I regret it or not... :)
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Bought at a better time than I did. lol I seem to always get into something too late. Bought in at .72235, so pretty much the moment before it started to drop. Hopefully it turns around and continues to climb. =)
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Sure, you can drop into US Cobalt cheaply. That rising demand for cobalt, though, is no indication that USCO's stock price will rise.
For example, in the past year cobalt futures have more than doubled, from just over $11 a pound last June 1 to just under $26 a pound yesterday.
During the same period of time, USCO's share price has been.... stagnant.
I'd say find yourself an ETF or a mutual fund that either invests directly in cobalt futures, or which makes them a large part of their base investment strategy. But, you're already behind the curve if you're going to do that. http://www.reuters.com/article/us-cobalt-demand-investors-idUSKBN15T1VR
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Oh, and stay away from Vanguard's Precious Metals and Mining index fund.
The fundamentals looked really good when I invested in them, but when metals prices were going up, PM&M was going down, and stayed down. I lost a shitpot load of money on that fund.
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IMO, one of the bigger considerations with investing in Cobalt in the US is... the US. As I said in the OP, I look at it as a high end gamble, which is why I only bought a little bit of USCO (at 0.71) just for the halibut.
The time for it to potentially go up is during the current administration. If any dems likeminded to the bunch that ran in 2016 are poised to get in either in 4 or 8 years, I'd likely get out of it, because they and their EPA administrator will certainly be gunning for that kind of mining and production. Either to eliminate it or regulate it more than it already is.
Under Trump, there's a chance that regulations might be eased, which would create at least a short term pop. Of course that means keeping a pretty close eye on it if it's in your portfolio. Otherwise for set it and forget it, Mike makes good sense with an ETF.
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"The time for it to potentially go up is during the current administration. If any dems likeminded to the bunch that ran in 2016 are poised to get in either in 4 or 8 years, I'd likely get out of it, because they and their EPA administrator will certainly be gunning for that kind of mining and production. Either to eliminate it or regulate it more than it already is."
But if they eliminate it, they destroy the source material of the cobalt that is needed to produce the batteries for their messianic electric cars (as in, What would Jesus Drive?)...
Henry Waxman and the Jesusbama didn't destroy heavy mining when they had a chance, so I wouldn't be too sure that it would be a sure thing when the Dems get back in power.
But, as I said, I really have no faith in USCO doing anything but circling in a fairly narrow band.
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But if they eliminate it, they destroy the source material of the cobalt that is needed to produce the batteries for their messianic electric cars (as in, What would Jesus Drive?)...
I'm not sure they think along those lines (i.e., looking at the big picture), but then again you may be right as they seemed to have no problem pushing solar, which besides the battery component creates a whole nother hazmat situation in the production of the cells. NIMBY.
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Speaking of the physical price going up, anybody know where you can actual buy it in largish quantities? I've tried looking but haven't really come up with anything.
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There's no way to really predict how the earth huggers think.
Most of the time I think they want humans to go back to living in caves and other holes in the ground, but that would be humans raping the reverend earth mother, so that's right out....
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Speaking of the physical price going up, anybody know where you can actual buy it in largish quantities? I've tried looking but haven't really come up with anything.
You mean buy it and hold it physically, as you can gold and silver?
No clue. That's why the entire secondary futures market exists, though, so you can trade it without having to find a place to store it.
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You mean buy it and hold it physically, as you can gold and silver?
No clue. That's why the entire secondary futures market exists, though, so you can trade it without having to find a place to store it.
Yes. Although not really as an investment. I've always thought it would be neat to get a bit of each element and stamp coins out of them with the face having their information like symbol, atomic number, etc. stamped on them.
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Yes. Although not really as an investment. I've always thought it would be neat to get a bit of each element and stamp coins out of them with the face having their information like symbol, atomic number, etc. stamped on them.
Ok, you had me wondering there, because as I note below, Cobalt really doesn't pull much value in per pound, so you'd need to store quite a bit of it.
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http://www.periodictable.co.uk/displays-overview/
As a former chemist, I think it would be cool to have something like this.
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So I tossed some play money at US Cobalt. Bought 100 shares at 0.5328.... we'll see if I regret it or not... :)
How'd you get it that cheap. It was hovering around $.06 until 23 Jan (I wonder what happen shortly before that day??) And its been between $.35 and $1.13 since, with it hovering around 70 cents per share since coming down from it's 2 May high.
I may buy a 100 or a thousand shares once I do more research on the company.
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How'd you get it that cheap. It was hovering around $.06 until 23 Jan (I wonder what happen shortly before that day??) And its been between $.35 and $1.13 since, with it hovering around 70 cents per share since coming down from it's 2 May high.
I may buy a 100 or a thousand shares once I do more research on the company.
It was around that price back on Wednesday.
edit - And that would be the SCTFF, not USCO.
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Yup. Set a limit order for .535, got it at .5328. And as far as I can tell, SCTFF is the symbol for US Cobalt. With the fees Ameritrade charges, I need it to go up 13.9 cents per share to start making money. We'll see what it does.
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Article from my financial news feed on the burgeoning market for cobalt.
https://www.bloomberg.com/news/articles/2017-06-08/cobalt-upstarts-eye-glencore-s-turf-for-244-billion-ev-spoils
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I bought 900 shares of SCTFF (about $500) simply because at $500, my broker fees were $8.95 with USAA. If I only bought $100, my fee would have been $27.95. Yeah, pennywise and pound foolish perhaps...we'll see.
Also bought some more Diamond Offshore since it's cheap, cheap, cheap...
I've still got about $1000 in my cash account. I need to find a place to park it.
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I bought 900 shares of SCTFF (about $500) simply because at $500, my broker fees were $8.95 with USAA. If I only bought $100, my fee would have been $27.95. Yeah, pennywise and pound foolish perhaps...we'll see.
Also bought some more Diamond Offshore since it's cheap, cheap, cheap...
I've still got about $1000 in my cash account. I need to find a place to park it.
I'll take it off of your hands. :)
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You'd probably just go buy more Japanese pajamas... :P :P :P :P
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You'd probably just go buy more Japanese pajamas... :P :P :P :P
Don't be hatin'. =D
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It's a more than $1000, but if you already have a Chevy Cobalt, a DF Gremlin is a lot more fun: http://dfkitcar.com/index.php
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SCTFF is down to $0.4399. But it's only a been a couple months. I think it is rebounds a bit, I might sell some/all. Maybe keep 100 shares as a very long term long shot. We'll see. First it has to come up from where it's at.
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I've got an alert set for 0.75, which is when I'll watch to see if it breaks out. Otherwise, I've already forgotten about the little money I put into it.
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It was odd, I was looking over things, and everything has a green UP arrow and high single digit or in many cases double digit percentages next to them. (Thank you President Trump)....
Except SCTFF. Big red arrow DOWN. Which I thought would take off as a many other mining stocks have.
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It was odd, I was looking over things, and everything has a green UP arrow and high single digit or in many cases double digit percentages next to them. (Thank you President Trump)....
Except SCTFF. Big red arrow DOWN. Which I thought would take off as a many other mining stocks have.
Probably because I bought some. Everything seems to do that with me. lol Sorry guys.
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A rising market segment won't always be reflected by gains for all its members, especially if that member has marginal to poor fundamentals.
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Interesting story on child labor in Congo cobalt mines and Musk claiming he will only purchase North American cobalt (which by the numbers seems unlikely).
http://twitchy.com/gregp-3534/2017/08/10/this-is-the-future-liberals-want-cars-powered-by-child-labor-instead-of-gasoline/
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I'm up $6!!!!!!!
:laugh:
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I'm up
$27 !!! (now $34 !!!)
Should I sell ??
[popcorn] [popcorn] [popcorn] [popcorn]
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Looks like it jumped up a bit recently, I wonder why. I'm still down, but working my way up to positive it looks like. Bought in not at it's peak, but close. Bought a little bit more later on when it was less than what it is now in order to average it down some.
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Looks like it jumped up a bit recently, I wonder why. I'm still down, but working my way up to positive it looks like. Bought in not at it's peak, but close. Bought a little bit more later on when it was less than what it is now in order to average it down some.
I did similar.
Well, I'm only up $3 today, so it's a Costco hot dog and coke instead of a McDonalds value meal. :laugh:
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I did similar.
Well, I'm only up $3 today, so it's a Costco hot dog and coke instead of a McDonalds value meal. :laugh:
I'm up $20, so I can still hit Chili's... :P :P
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Still bouncing around... I'm up a Happy Meal....
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I'm back down to the $1.50 Costco hotdog. :laugh:
The one that's pissing me off right now is GE. That has been a stable dividend engine for me for years, but I'm now in negative territory with it for the first time ever. If it gets back into the 18.5 range and just into the green for me, I think I might sell half. I'm not going down with another ship like I did with Iridium.
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I'm back down to the $1.50 Costco hotdog. :laugh:
The one that's pissing me off right now is GE. That has been a stable dividend engine for me for years, but I'm now in negative territory with it for the first time ever. If it gets back into the 18.5 range and just into the green for me, I think I might sell half. I'm not going down with another ship like I did with Iridium.
GE's got major problems, especially with it's Finance and Insurance business units. There was several articles in yesterday's WSJ about how bad things are and that taking the Q4 charge and even breaking up the company may not be enough.
https://www.google.com/search?q=ge+wall+street+journal+article&oq=GE+Wall+Street+&aqs=chrome.2.0j69i57j0l4.5880j0j7&sourceid=chrome&ie=UTF-8
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The good news is that my portfolio is up over 1% just for today. =D
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Did I miss a memo ??
It went from $.55 to $.68 in one day ?? (it was as high as $.72 at one point today). Does it have anything to do with Trump imposing tariffs on Chinese solar panels ??
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Did I miss a memo ??
It went from $.55 to $.68 in one day ?? (it was as high as $.72 at one point today). Does it have anything to do with Trump imposing tariffs on Chinese solar panels ??
Hot damn! I've got enough for Olive Garden now! Moving up in the world! :laugh:
Could be the tariffs, but where do we get most of the cobalt for US built solar panels? If still from 3rd world, then there would have to be another input(s).
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Our secret is out !!!!! =D =D =D ;) ;)
https://www.wsj.com/articles/driven-by-electric-vehicle-demand-firms-focus-on-cobalt-1517230800
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Interesting article on Apple now looking at procuring cobalt directly from the source. Given Apple's "social justice" philosophy, it will be interesting to see if/how this affects US cobalt. Obviously they can source from Australia and a few other places, but I'll be curious to see if they cut off their Congo suppliers, and if they use enough cobalt to then affect the price.
https://www.bloomberg.com/news/articles/2018-02-21/apple-is-said-to-negotiate-buying-cobalt-direct-from-miners
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DIG FASTER, KIDS! BEN WANTS A BETTER RETURN ON HIS INVESTMENT!
:facepalm:
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DIG FASTER, KIDS! BEN WANTS A BETTER RETURN ON HIS INVESTMENT!
:facepalm:
To the Moon!!
Wait, we aren't talking about crypto. =D
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Well apparently the Trump tariff scare, which tanked a bunch of my stuff this morning, boosted Cobalt. I'm showing a 17.45% gain on the original meager investment.
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Well apparently the Trump tariff scare, which tanked a bunch of my stuff this morning, boosted Cobalt. I'm showing a 17.45% gain on the original meager investment.
See! With the proper whippin... er... motivation, those little shits CAN dig faster!
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See! With the proper whippin... er... motivation, those little shits CAN dig faster!
=D
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Yup. Up .28 per share from when I bought it as of today's close.
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Up $.22 from when I bought in. My $500 investment is now just over $700. Not bad for about 9 months (I'm still at "HOLD").
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From the "hindsight is easy" perspective, now I kinda wish I'd put $10K into it. I might post the opposite in a month. :lol:
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GE's got major problems, especially with it's Finance and Insurance business units. There was several articles in yesterday's WSJ about how bad things are and that taking the Q4 charge and even breaking up the company may not be enough.
https://www.google.com/search?q=ge+wall+street+journal+article&oq=GE+Wall+Street+&aqs=chrome.2.0j69i57j0l4.5880j0j7&sourceid=chrome&ie=UTF-8
What GE needs is more blackbelts to get things back on track. =)
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What GE needs is more blackbelts to get things back on track. =)
Yeah, I think I'll have to keep that one in the portfolio for a long while in hopes of recovery. If it actually drops to $11 like some "experts" say, I might buy a few hundred shares to help dollar cost average things.
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What GE needs is more blackbelts to get things back on track. =)
Yo, Six Sigma greenbelt, here.
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Woo! It really shot up today, yesterday? Damn you time zone differences!
I wonder why.
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Yo, Six Sigma greenbelt, here.
*twitch* *expletive deleted*ing greenbelt projects *twitch twitch*
Sent from my Pixel XL using Tapatalk
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Up to $.99 today. Did they discover that it cures cancer or the heartbreak of psyorrisis ??
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Up to $.99 today. Did they discover that it cures cancer or the heartbreak of psyorrisis ??
I reckon this is why:
http://firstcobalt.com/investors/news/first-cobalt-announces-friendly-acquisition-of-us-cobalt
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Very cool. I really didn't expect USCO to do much. Glad that it's worked out for you!
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https://www.npr.org/2018/03/15/594062903/how-cobalt-metal-affects-big-tech-firms-like-apple
Sell your cobalt futures now! Iron phosphate is coming!
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I reckon this is why:
http://firstcobalt.com/investors/news/first-cobalt-announces-friendly-acquisition-of-us-cobalt
That explains the price spike on the afternoon of the 14th. I only saw that chart yesterday. (The 15th is the last day for Corporate Returns, the 16th is day we filed 43 Corporate Return Extensions... ;/ ;/ ;/)
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https://www.npr.org/2018/03/15/594062903/how-cobalt-metal-affects-big-tech-firms-like-apple
Sell your cobalt futures now! Iron phosphate is coming!
Interesting article. The only upside that appears to be with using this iron phosphate batteries is that it doesn't use cobalt, and there you don't need to be connected with possible shady areas like the Congo. But that doesn't really seem to be much of an issue if we are able to get it here. Plus there is the issue where it says they are less powerful, doesn't go into any details on what that means.
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So reading the article. this newbie trader needs some edumacation. I purchased 100 shares of it, and according to the article, look like it's a straight stock deal, with 1 share of US Cobalt converting to 1.5 shares of First Cobalt...
So, do I need to do anything? Or will my shares of US Cobalt on TD Ameritrade magically become shares of First Cobalt once this whole thing goes through?
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It will happen automagically. The company will "buy" your existing in exchange shares for 1.5 per of the "new" company.
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The only thing that might happen is that you may (but probably won't) need to fill out a couple of forms.
Make certain that you keep track of your acquisition basis cost, though, as you'll need to know that when you sell and either take a profit or loss for tax purposes.
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Meanwhile, The Economist has decided that me doubling my investment wasn't nearly enough profit...
https://www.economist.com/news/finance-and-economics/21739161-nickel-could-make-good-substituteprovided-car-batteries-dont-catch-fire-what-if
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This could be interesting. The curtain that hides all the child labor used by green energy is being opened in regards to cobalt.
This particular blurb caught my eye as related to who owns US Cobalt now:
Now, it appears (via Bloomberg) that Tesla also has access to cobalt in Canada. “Call it a cobalt rush in Cobalt… both the town and the metal, are attracting renewed attention as a buffer to rising political risks in the Democratic Republic of Congo”
https://twitchy.com/gregp-3534/2018/05/01/wake-up-world-the-clean-energy-revolution-is-powered-by-child-labor-in-africa/
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For those in the game, I saw my US Cobalt is now listed as FTSSF. With some extra shares. :)
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For those in the game, I saw my US Cobalt is now listed as FTSSF. With some extra shares. :)
Yup. Was a little pissed at the $38 mandatory reorganization fee..... But TD Ameritrade were kind enough to refund that when I called and (politely) asked, "Oy, WTF is this fee???"
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This could be interesting. The curtain that hides all the child labor used by green energy is being opened in regards to cobalt.
This particular blurb caught my eye as related to who owns US Cobalt now:
https://twitchy.com/gregp-3534/2018/05/01/wake-up-world-the-clean-energy-revolution-is-powered-by-child-labor-in-africa/
AH MAH GERDS! THE FEELS! THE FEELS!
Want to piss off a liberal? Call them Massah (insert overseer name here).
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For those in the game, I saw my US Cobalt is now listed as FTSSF. With some extra shares. :)
I checked that today also...made a tidy little sum off that...
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Dang. First Cobalt is *TANKING* after their buyout of US Cobalt.... down to $0.36... nothing really obvious as to why, other than the potentially looming trade war/spat/pissing match going on. I figure I'm just going to ignore it for a while, set a couple of alerts to let me know when it starts trending upwards again.
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Dang. First Cobalt is *TANKING* after their buyout of US Cobalt.... down to $0.36... nothing really obvious as to why, other than the potentially looming trade war/spat/pissing match going on. I figure I'm just going to ignore it for a while, set a couple of alerts to let me know when it starts trending upwards again.
I was watching some of my other stuff tank and didn't see that. :laugh:
There may be other stuff going on with First Cobalt as well, but I reckon a lot of it is the same as is happening in some other sectors: negative overreaction to Trump's tariff war. This is the time to "not do something, just stand there" as things work out. I'm actually going to start looking at buying opportunities at individual stocks that took an "emotion hit".
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I've got 180 sell orders on all my speculative stocks. When they hit the price I set, they get sold and I now have money to play with.
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And Cobalt took a huge hit today. Elon Musk screwed me.
https://www.bloomberg.com/news/articles/2018-07-08/battery-skeptic-funds-wait-out-cobalt-rally-seen-as-fleeting
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And Cobalt took a huge hit today. Elon Musk screwed me.
https://www.bloomberg.com/news/articles/2018-07-08/battery-skeptic-funds-wait-out-cobalt-rally-seen-as-fleeting
Saw that this morning. Oh well, there's always the loss deduction on the taxes. =D
It'll certainly be interesting to watch it all play out over the next few years. It's probably a good time for Cobalt investors to go left wing progressive and start social network campaigns about child labor in the African Cobalt mines and try and get supply reduced. :laugh:
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I read in the WSJ last week that platinum is way down, because of the reduced demand for catalytic converters because of the rise of electric cars. I may dump some cash into that.
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Noticed the nosedive it was taking.
SELL! SELL! SELL!
Hanre Rossouw, a Cape Town-based portfolio manager at Investec Asset Management, which oversees over $190 billion, is playing it safe by instead betting on traditional metals like copper as a way to benefit from the shift in electric vehicles. Regardless how fast the shift occurs, he said spending on infrastructure will rise, including power grids and charging stations, requiring more copper.
BUY! BUY! BUY!
Interesting take. Would you invest in copper by buying actual copper, or is it more like you can buy gold certificates, or in a company like we are with Cobalt, or a little of each. I actually have a few rounds of copper, not much and more for the novelty coin and that it's pretty cheap. Thought about buying bars. Looking at a 5 year chart, it's basically the same now as 5 years ago, although it had dived and recovered by a dollar a pound. Although looking at APMEX, the prices for copper bars are quite a bit higher than the spot price. For example; looking at the Kitco chart, it should be about 18 cents an ounce. But APMEX is selling generic 1oz rounds and bars for 99 cents and the cheapest is a 100oz bar for &79.99. Nothing close to 18 cents an ounce.
edit - Copper really exploded in about the year 2002, and also took a huge dive in about 2008 before taking off again. https://www.macrotrends.net/1476/copper-prices-historical-chart-data
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Interesting article for my fellow Cobalt investors. I'm still letting mine ride. Until/unless, as Scout mentioned, Musk screws me. But then with all the other crap he has been spewing this year, maybe that's just a pipe dream of his (get it? =D ).
https://www.economist.com/business/2018/12/01/can-the-world-produce-enough-cobalt-for-electric-vehicles
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Thread necro.
For anyone, like me, who has been holding onto their FTSSF all this time, it shot up like crazy today due to a Canadian Govt investment:
https://www.kitco.com/news/2020-12-16/First-Cobalt-shares-skyrocket-on-10-million-government-investment-news.html
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So where are you with your investment? The 52-week high has been 27 cents, the 52 week low 7 cents...
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So where are you with your investment? The 52-week high has been 27 cents, the 52 week low 7 cents...
It needs to go up another 9 cents for me to clear a profit. :laugh:
I dollar cost averaged a bit when it was at its lows, which really helped visa vie the original purchase - plus they did that split when they merged. I'm still only in it for like under $2K though - it was a totally (maybe my most ever) speculative purchase. :)
I might sell half if it breaks the break even point, but otherwise want to keep letting it ride. Who knows, with the 46 admin going all in on climate and alternative energy, it might go up more. I still have some loser FCEL (hydrogen fuel cells) and that sector has been spiking since the election as well.
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No offense, but I'm glad that I passed on this one back in 2016/2017...
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No offense, but I'm glad that I passed on this one back in 2016/2017...
None taken. :)