If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!A few days ago (please see my archived post from 5/31/09) we mentioned be careful of chasing the gold sector as it is quite overbought. We also mentioned to wait for a retracement to the 20 or 50 day moving…
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Be Careful!
Dollar is exremely oversold and will bounce. Mining stocks are overbought. Place trailing stop losses to lock in gains. Be careful not to take new positions if stock is overextended. Wait for a pullback to get into positions. We believe we will have second buypoints for our position as a shakeout of weak hands will take…
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UXG (U.S. Gold)
We posted a morning stock pick at 2.49. The stock was up over 10% with volume three times normal. Breaking through 2.75 will be impressive and lead to huge gains. It seems institutions are looking at exploration companies. The major companies may need to aquire smaller juniors with interesting exploration activity as their profit margins…
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Our Picks This Week/Market Summary 6/2/09
Let's review our picks so far. 1) TGB (Taseko) Bought at 1.60 Now it is 1.91 19% Gain Recommended on 5/26/09 2) NGD (New Gold) Bought at 2.50 Now it is 3.04 22% Gain Recommended on 5/28/09 3) GMO (General Moly) Bought at 2.00 Now it is 2.68 34% Gain Recommended on 5/28/09 5 trading…
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Morning Stock Pick U.S. Gold (UXG) 6/2/09
U.S. Gold has one of the largest mineral land positions in Nevada and they have just shown quite impressive results in Mexico. They are owned by Rob Mcewen who built Goldcorp. Rob has success in building gold companies and rewarding his shareholders. Rob has decided to invest his own money in exploration as a way…
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Chart Of Gold (Inverted Head and Shoulders)
This appears to be an inverted head and shoulders pattern which means that a break to the upside is highly probable. Look for a breakout of the previous top with good volume.
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Nasdaq Breakout
Since the March low the Nasdaq rally has lacked volume and appeared to make a rising wedge. After a breakout to the downside on low volume the Nasdaq appeared to make a rectangle sideways pattern. This battle between buyers and sellers was resolved today to the upside. Today the Nasdaq broke out of resistance so…
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GMO Update General Moly
General Moly had a major follow through today closing near the high on huge volume. If you were following since last Wednesday you would have a nice profit. I believe this company could run to at least 4.25. It seems as though institutions are piling into this stock. China is importing molybdenum as their demand…
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GMO General Moly Update
Last week we gave a morning update to anticipate a breakout at $2. On Friday the stock catapulted through 2 to reach2.13 up 12% at more than 4 times normal volume. What a breakout. We are extremely bullish on molybdenum. This element is used in so many industries and applications from refineries to nuclear reactors. …
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NGD New Gold Update
Last week we wrote on the blog about New Gold and the opportunity the chart was presenting to us. We put a buy point at $2.50. On Friday it closed at $3.10 which was a 24% gain for our followers. This was a breakaway gap as it broke out of a base on more than…
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