Archive for the ‘Stock Movers’ Category
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In Stock Movers on August 19, 2010 at 8:41 pm
The S&P 500 broke out of a bearish rising wedge pattern last week after failing to hold the 200 day moving average four different times. My bearish views were confirmed last week with a high volume breakdown after the Federal Reserve gave a sour report on the state of the economy. Trading became highly volatile before the announcement. In previously published articles, I warned that the Fed would ease and do everything within their power to flood the markets with cash, which has been bullish for gold and mining stocks. The several gap downs on the S&P are hard to short as the market may rally to try to fill those gaps. Although I have downside targets, I would look for a countertrend days to enter if going short.
Today’s break of the 50 day moving average was a key move as the probability of the 50 day moving average to cross the 200 day moving average to the upside is diminished. Many were concerned that the bearish death cross would be a whipsaw, meaning markets would revert higher. However, the bearish death cross is becoming more confirmed and pronounced as the 200 day begins sloping over.
Stocks key technical break today of the 50 day moving average on high volume shows there is little support as the risk appetite wanes. The rally in treasuries are showing signs of a double deflationary dip, similar to the 2008 bear market as investors fear that the economy is on shaky grounds.
I believe that the chances of S&P moving into new lows are very high. Today’s break of the 50 day moving average is confirming both the bearish head and shoulders pattern and death cross.
The S&P market action is demonstrating that the two day rally above the 50 day was not strong enough to maintain support. Now the 50 day will once act again as resistance. Volume did come in higher signaling major distribution. However, when a market transitions from a bull to a bear, each subsequent failure at the 200 day drives out the bulls who still believe that the decline is a buying opportunity. After the third or fourth failure usually a full blown bear market begins.
Despite the Fed’s promise to amp up the struggling recovery by flooding the markets with cash and the latest jobs bill from Congress benefiting government and union employees, their major constituents, investors are losing confidence in Washington’s attempt to prevent another bear market. I expect a breakdown into new lows over the next few weeks.
Despite all the weakness in the equities market, many mining stocks I am following closely are breaking out as gold is on its way to test new high territory.
Fronteer Gold which I have highlighted to my subscribers came out with their best drill results yet at their Long Canyon Project. This project is being viewed as one of the great new high grade gold discoveries in Nevada. These results in Nevada will be part of a new resource estimate on this project which should be a driving force for this company over the next few months.
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In Stock Movers on July 29, 2010 at 4:59 am
New Gold (NGD) has been a long term recommendation for my readers since May of 2009 when it was selling at $2.50. I have always been impressed by the quality of assets New Gold owns. New Gold is unique in the mining sector as they are leading the sector in increasing production and reducing cash costs. In two years, this company has gone from being in debt to having a comfortable net cash position.
They have three operating mines in mining friendly jurisdictions and cash costs have significantly decreased. Costs are expected to go down further when New Afton in British Columbia and El Morro in Chile get started. Both mines have huge amounts of copper. The copper byproduct decreases the cash costs of the gold to almost nil. It becomes pure profit. Their major development project, El Morro in Chile is one of the world’s major gold copper mines and New Afton is an exciting mine that has close to a billion pounds of copper reserve and a million ounces of gold.
The El Morro project is joint ventured with Goldcorp and is one of the world’s largest gold copper mines, with 6.7 million ounces of gold reserve and 5.7 billion pounds of copper. Like New Afton, this is also a large gold and copper mine that will add huge profits in New Gold’s future and decrease cash costs due to its high amount of copper. This is clearly a company with impressive assets and growth ahead.
Recently the share price has come down due to a negative decision by a Mexican Court regarding one of their three mines, Cerro San Pedro, a massive mine with a million ounces of gold and 50 million ounces of silver. It was over a technicality in the original Environmental Impact Statement, even though the Cerro San Pedro mine is internationally recognized for its standard on minimizing its affects on the environment. Actually the whole case is over a land use issue not environmental issues. Prior to this decision, New Gold received an injunction to continue operations while the legal issues are being resolved. Due to past precedents, during the appeals process New Gold is likely to continue operations.
It is important to realize that this locale is dependent on mining as a way of life. There are over 1600 jobs that are reliant on the mine remaining open. The government certainly doesn’t want this mine shut down as it indirectly contributes half a billion pesos to the Mexican government, which is battling many problems including unemployment and crime. A skyrocketing unemployment rate in the region could be chaotic. The economic health of the region requires the mine to remain open and running. Recently a newly elected council of landowners in the area are challenging the old council who started the legislation by attempting to drop all litigation against New Gold.
I believe this will be resolved in due time with New Gold revising the Environmental Impact Statement, or that the decision eventually will be overturned. This may become a long, drawn out affair. However, I highly doubt that this mine will be shut down during this process as it would spur an economic disaster for the local area. 
New Gold (NGD) has been one of the best performing stocks in the mining sector. They have a top management team, with directors who have built major mining companies and resolve minor setbacks. I believe this will be one leading gold stock over the next several years because they have the assets and the financial condition to grow. This pullback is a great opportunity for a long term holder. Notice how it has pulled back to previous resistance at $5 which is now support. Also it has come in play with the long term upward sloping trendline which it has touched 5 times successfully. It is currently close to historically oversold levels. Coming in play with support, coupled with the oversold conditions provide long term investors a prudent market entry point. Subscribers who have followed my advice in my free newsletter at goldstocktrades.com are now up over 100%.
Disclosure: I own shares of New Gold.
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In Stock Movers on July 5, 2010 at 3:26 pm
Late Friday, the Federal Review Panel came out with a recommendation that will be forwarded to the Prime Minister and his cabinet assessing the environmental impact of the mine. The Federal Review Panel did not weigh in the economic affects of this project. They made environmental recommendations for Taseko to take if the mine is approved.
I believe the Prime Minister, along with the Cabinet will support the British Columbia Provincial Approval based on the opinion that the economic benefits far outweigh the environmental impact.
The mining industry is crucial to British Columbia’s Gross Domestic Product and brings in over 8 billion dollars to British Columbia a year. A major concern is that the construction of new mines has been declining. Many mines are closing and there has been a rapid decline of economic reserves. This has seriously affected poverty levels and unemployment rates.
Prosperity is British Columbia’s flagship project that will bring in 400 million dollars of revenue a year and get many back to work. Now the cabinet has recommendations from the panel on what Taseko should improve if the project is approved. The project is very popular in British Columbia and I do not believe that the Prime Minister and Cabinet will go against British Columbia’s approval. Their approval was based on the belief that the massive economic benefits would far outweigh the environmental loss to the local community. If the Prime Minister rules against the Province, it will have devastating effects not only on British Columbia, but on Canada and its status as a friendly mining jurisdiction. This status brings in huge amounts of investment capital which is crucial for economic development.
The news related sell-off creates another opportunity for investors to buy Taseko at bargain prices. In January I recommended readers to take profit as it was time to sell on good news and when readers were up 250%. Now is the opposite time. I believe this is the time to buy when everyone else is fearful especially if you are still holding shares. Now is definitely not the time to sell into a panic. Prosperity is far from over.
The news related break of the moving averages might appear negative but this decline has not shown to be high volume correction. I expect there to be a move higher as many sold off with the news coming off the wire and do not understand the macroeconomic effects of this project. Subscribers are still up over 100% even though many should have taken profits when I recommended and kept the 15% trailing stop loss which I also made sure for subscribers to have. If you did not take profits with the 15% trailing stop loss and are still holding, I would recommend waiting until September until the Cabinet and the Prime Minister make their decision which takes into consideration other variables than the environment alone and not feed into the panic selling.
Disclosure: Currently do not own Taseko.
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In Stock Movers on June 24, 2010 at 10:59 am
El Gallo’s story is continuing to impress the mining community. U.S. Gold has invested a lot of capital into drilling El Gallo this year and believe that by 2013 they can be producing up to 10,000,000 ounces of silver a year plus 35,000 ounces of gold. This drilling program has been extremely successful. They have expanded the mineralization and are now showing a potential to connect different zones to have one large shallow open pit mine. In two weeks the initial resource estimate will be published which should add momentum to this gold and silver growth story.
UXG’s shares have significantly outperformed mining stocks and gold bullion this year. Since our initial recommendation from last May, UXG is up close to a 100%.
Even though UXG at the moment has little institutional sponsorship other than the CEO himself, I believe the investment community is coming to realize that the company has an impressive growth story. That has been highlighted technically over the past 12 months. You are welcome to view archived posts where I have shown the incredible strength these past 6 months.
Since investing in the mining sector since 2001 I have found relative strength to be a key indicator of where capital is flowing. It is easy to identify which companies are experiencing increasing demand compared to a benchmark. Since I consider myself a miner of mining stocks, I spend hours researching the mining companies which have the greatest ability to outperform gold bullion and the mining sector. Even in a great precious metals bull market one can underperform if not aware of how to use technical analysis and relative strength.
This chart shows the relative strength of UXG to the gold and silver index. Clearly the breakout to new 52 week highs is confirmed by its bullish strength. The longer the outperformance of price and the confirmed breakout leads me to believe its growth story going forward.
Using relative strength one can evaluate if this recent breakout in UXG is sustainable. The chart above shows a major breakout for UXG confirmed by relative strength. I believe that this stock can significantly outperform the sector over the next few years as did Goldcorp did from 2001-2005 while Mr. Mcewen was CEO.
Over the past 6 months UXG has significantly outperformed Mcewen’s former company Goldcorp. While Goldcorp is up less than 15%, UXG is up close to a 100%. This further emphasizes how important it is to use relative strength to really profit in precious metals bull market.
Price volume action is excellent highlighted by the big volume breakouts. I believe UXG is a great long term growth story. New investors who want to get in should wait for a pullback as it is short term overbought.
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In Stock Movers on June 20, 2010 at 3:30 pm
Copper is an extremely useful indicator which shows the strength of the global economy and whether the economy is growing or decreasing. At the moment Copper is flashing a “red alert!” A very bearish crossover pattern means that copper could go lower for many months.
This pattern is taking place with a broken trend, weakening rsi and momentum. All these signals together makes the chance of a fakeout, bear trap or whipsaw less probable. Next target is $250 which is the 50% retracement.
The bearish copper pattern is taking place at the same time as an extremely bullish cup and handle breakout on gold. Many investors are finding gold and silver a better place to be right now rather than equities or commodities that are more susceptible to a weak economy.
I especially like silver here and have recommended UXG U.S. Gold which has made a huge discovery in Mexico. UXG is one of the leading stocks in the market right now up a 108% in the last 6 months. Although it is extended and I do believe there will be a pullback I am still extremely bullish on this company. In the next couple of weeks more news will be coming out summarizing the massive amount of work UXG is doing in Mexico.
Silver is going to follow gold and breakout into new highs and when that breakout is done a huge move could follow according to my point and figure charting. As you can tell by this chart that as the global economy is in danger people are buying silver. This is a sign of deflation, when the general public hoard silver and gold rather than being exposed to debt.
Silver is making a long term ascending triangle which is a bullish pattern and hasn’t violated any trend lines or moving averages. I predict silver on this next breakout could catch up with gold.
In a real economic crisis silver is a much more practical item as an alternative currency as it is much cheaper. A middle class person could easily cash in some dollars to by a roll of silver dollars verse buying gold coins.
The market is also predicting that interest rates are going to stay low as central banks fight deflation and hoarding of precious metals. This is illustrated by the move in utilities to reverse the bearish crossover signal. This signal is usually bearish unless there is a significant reversal close to the crossover.
Utilities is a sector which is extremely sensitive to higher interest rates. When this sector rallies it usually predicts low interest rates. The fear of bad debt globally and deflation is causing a rush to gold and silver and an easing from central banks.
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In Stock Movers on June 17, 2010 at 9:10 pm
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In Stock Movers on June 10, 2010 at 4:22 pm
The cup and handle breakout is a classic pattern which stock market traders search for constantly. A cup and handle pattern means that the stock has made a consolidation where many of the weaker holders sell their shares. Then as the stock breaks into new highs a handle is formed. It is formed because many investors who bought at the previous high are now trying to get back the capital that was initially invested at the previous high. Then a handle is formed. A handle should move sideways or slightly down so investors who bought at the previous high can get back their capital. Once this handle is completed the stock has very little selling pressure and buyers now gain control and push the stock into new highs. Many times the percentage gains are impressive.
Sometimes a stock forms a triangular pennant after a breakout as in the case of U.S. Gold (UXG). These triangular pattern in a handle are bullish and provide investors an opportunity to get in before a major run.
My ideal buy point is after the breakout of the cup when the handle pulls back to key support. Right now is a good opportunity to add shares before a breakout at $4.31.
There are four upcoming events that could make this stock move.
1) 20 drilled hole results from El Gallo in 2 weeks.
2) El Gallo Initial Resource Estimate in 4 weeks.
3)Additional Results From Regional Exploration in 6 weeks.
4)El Gallo Economic Assessment by year end.
I am excited by the results coming out in mid July from the regional exploration. UXG invested a lot into Mexico this year knowing that this land package could contain a massive amount of silver. I am excited for the next few weeks both from a technical and fundamental perspective.
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In Stock Movers on June 8, 2010 at 8:15 pm
After following and investing in the gold mining sector since 2000 I have tried to identify the major leaders in each run and greatest candidates for my capital. I am looking at great relative strength to the price of gold. This indicator shows me that this miner has great leverage to the price and even if gold stays flat this miner will outperform.
Today New Gold (NGD) made a triple top breakout relative to gold and shows great relative strength. One of the reasons NGD is outperforming even though it has exposure to base metals is that the street is becoming aware of its amazing portfolio of assets, decreasing cash costs and major institutional insiders such as Pierre Lassonde and Seymour Shulich. These are the type of investors who recognize value and growth both of which NGD has.
Today NGD was put on FTSE Gold Mines Index which is an important step in NGD’s growth story as its market cap has improved significantly since our original recommendation at 2.50 last May. Precious metals are outperforming the general indexes. When I see breakouts in specific miners relative to gold this is a huge buy signal and believe NGD will move higher.
NGD has the financial strength to withstand a market downturn and it seems that the investment community is becoming aware of NGD’s assets and growth story.
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In Stock Movers on June 3, 2010 at 12:25 am
U.S. Gold (UXG) is one mining company where the CEO puts his money where his mouth is. Rob Mcewen believes UXG will be on the SP500 and his aggressive drilling in Mexico is proving to the investment community that he has a major mine there. Rob owns 21% of the shares much more than any other CEO in the business.
The chart shows that in the past 6 months UXG has been outperforming gold. It is showing great relative strength. I believe it will continue to do so as new areas in Mexico start drilling in June and he is continuing to show expanded mineralization. Expect more positive results and outperformance of UXG especially how active they are drilling.
Chart shows a strong breakout on good volume and now it is making a bullish continuation wedge. Look for an upside breakout.
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In Stock Movers on June 11, 2009 at 2:13 pm
Today U.S. Gold (UXG) came out with exceptional drilling results. As I announced last week before there meeting in New York, that I believed that important news will come out. Their El Gallo project is quite impressive as they are observing increasing mineralization and they are continuing to explore the property they acquired from Nevada Pacific. They don’t even know how big that project can become.
They are also bringing out another drill in Nevada where they started actively drilling at the end of May. They are exploring the outer edges of the Tonkin project to see if there are similar mineralizations as the huge Barrick project.
Rob Mcewen is on a mission to build a huge company, which he has done before.
As the chart shows we are breaking out here and I do believe this trade has an opportunity to make huge gains.
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In Stock Movers on June 9, 2009 at 11:56 pm
Base metals soared today as car sales in China are increasing at a rapid pace. Taseko, New Gold and General Moly are companies with huge deposits that have not been developed. TGB and NGD are producing now so they will have cash flow.
Inflation is kicking in and the long term prospects of these companies are excellent. I would buy GMO on any further weakness. Molybdenum is used in making steel stronger and withstand greater heat and pressure.
UXG about to breakout of symmetrical triangle near 52 week high. Notice how the volume is confirming price. Again its giving us another opportunity to get into this position with an incredible land position in Nevada and great opportunity in Mexico. This company has the top management in the business where the owner puts his money where his mouth is. Rob Mcewen owns a good percentage of this company.
UXG
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In Stock Movers on June 8, 2009 at 3:51 pm
NGD came to its 20 day moving average and is closing at the high of the day reversing from being down most of the day shaking out weak hands. Buy at 2.65.
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In Stock Movers on June 6, 2009 at 10:24 pm
Notice the break through the trendlines which is confirmed on our point and figure chart.
Everything looks OK at the moment. Be prepared for a breakout of this bull flag pattern as NGD approaches its 20 day moving average.
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In Stock Movers on June 4, 2009 at 6:04 pm
BARE did not trigger a buy as we had the buy point at 10.51…maybe it will hit that tomorrow.
TGB was up but it does have resistance at the $2 area which it will take some time to breakthrough.
NGD was unchanged and is now building a “handle.”
UXG was up around 6% and closed at the high of the day. Look for a breakout through $2.75.
GMO was up 10% today on good volume exactly how we saw it would play out.
We are long these four positions TGB,NGD,UXG and GMO.
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In Stock Movers on June 3, 2009 at 7:05 pm
I sometimes include on this blog for some of our followers some tradeable picks that are not mining stocks.
This pick is gaining popularity as a healthy cosmetic company with environmentally friendly products and excellent earnings growth and return on equity.
The company is Bare Escentuals (BARE).
BARE is about to break out of a bullish symmetrical triangle base after a breakout gap. Look for a breakout through 10.50.
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In Stock Movers on June 3, 2009 at 6:35 pm
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 average. This is what is happening a retracement to shake out weak holders. Our students and long term followers have been following Taseko for a few months. Today thestreet.com had a video on it. So the mainstream is now picking it up which concerns me as that means we will probably have a pullback.
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=13794899&src=finance&ch=633473
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In Stock Movers on June 2, 2009 at 11:23 pm
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 are being squeezed. U.S. Gold has quite an impressive land position and drill results may lead to more institutions buying shares. Tomorrow they are having a conference in New York City. It will be interesting to see what news they will release soon.
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In Market Analysis, Stock Movers on June 2, 2009 at 9:57 pm
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 days goldstocktrades subscribers made 25% on there money.
We are still long on these positions but we keep trailing stops and we will post as soon as those sell signals are triggered. Please keep checking in.
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In Stock Movers on June 2, 2009 at 8:10 am
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 to leverage your investment in gold. UXG is an exploration company which means that if they make a discovery an investor may make huge gains. Their land position in Nevada is located right next to some of the biggest mines in America in one of the most friendliest mining states. The drill results in Mexico that they reported are great and may be a major discovery.
I would buy here as UXG broke out of a symmetrical triangle pattern on above average volume. They have a conference coming up on Wednesday and I would not be surprised if an announcement may be made that would break this stock through $2.75 to $7.
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In Stock Movers on June 1, 2009 at 6:06 pm
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 is increasing significantly and the markets worst case scenarios are in the rearview mirror.
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In Stock Movers on June 1, 2009 at 12:10 am
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. The main industrial use is strengthening steel which is crucial as many emerging markets are investing in infrastructure.
This company General Moly has a huge project called Mt. Hope which is one of the largest undeveloped moly mines in the world. GMO was beaten down due to the credit crisis and the financing situation. However, it has gotten my interest and I believe it is showing us that it is getting a lot of interest from institutions as well.
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In Stock Movers on May 31, 2009 at 10:37 pm
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 three times normal volume. Breakaway gaps usually do not fill. As the mining sector is overbought there might be opportunities to buy NGD at a cheaper price if there is some overall weakness. Otherwise this is a classic breakaway gap which usually preceded major moves to the upside. So to all our students who got in when we posted are in a great postion.
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In Stock Movers on May 28, 2009 at 2:51 pm
This is a great point to buy New Gold. They have just combined with Western Goldfields. They will produce enough gold to be able to fund their development project in British Columbia called New Afton. This project has close to a billion pounds of copper. When buying a gold company making sure you have the management to grow and finance a company is crucial. They have the top minds in the field behind this company. Buying here at 2.50 is a great point to get in.
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In Stock Movers on May 28, 2009 at 1:38 pm
The volume is good on Taseko above average today to qualify as a breakout. Let’s hope it closes at the high of the day as more investors pile in and recognize the breakout.
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In Stock Movers on May 28, 2009 at 9:35 am
Genereal Moly has one of the largest undeveloped molybdenum mines in North America. Moly is necessary for high strength steel which is used in many industrial applications such as oil drilling and nuclear reactors. Demand is growing again as the economy is bottoming out in China and in other emerging markets. A breakout through $2 on volume will catapult this stock to $5. Arcelor mittal put a lot of money into this company and I wouldn’t be surprised if they got a takeover bid at this level from Thompson Creek Metals.
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In Stock Movers on May 28, 2009 at 9:27 am
It is crucial to look for a follow through on yesterday’s huge volume rise. Today will give many investors another chance to get in before the next leg up.
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In Stock Movers on May 27, 2009 at 6:34 pm
Yesterday I gave a signal that Taseko would breakout of the symmetrical triangle formation. Today it did on huge volume. I believe this will be a quite profitable trade at this point.
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In Stock Movers on May 27, 2009 at 11:49 am
Taseko is breaking out on good volume through the symmetrical triangle formation…good volume!
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In Stock Movers on May 26, 2009 at 12:09 pm
New Gold is an intermediate gold producer with great projects. They just aquired Western Goldfields. They have the cash flow to grow and develop new projects such as the New Afton project in British Columbia. Their management is the best in the business. Some of the directors ran Newmont and Goldcorp. They know how to finance gold companies and have a history of success for their shareholders.
Look for a breakout.
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In Stock Movers on May 26, 2009 at 1:40 am
- Symmetrical Triangle Formation…Look out for breakout on volume! MACD about to cross. Great Story with prosperity permitting coming out soon.
Cheaper oil and labor costs coupled with the massive money supply will give a chance to make huge gains on certain mining stocks. The secret is out China is buying gold and are nervous with the US paying back its debt. Select mining stocks will give investors the opportunity to make huge gains and protect themselves of the folly that is going on in Washington.
