Chart Of Gold (Inverted Head and Shoulders)

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! 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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Market Summary Week Ending 5/29/09

The S&P 500 remains above the 20 and 50 day moving average.  The S&P has moved sideways making a base after breaking out to the downside of a rising wedge pattern.  This rally has been on low volume.  So this rise has been on the back of other factors such as a seriously declining dollar, …
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New Gold (NGD) Great Buy

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…
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Taseko is Up on Higher Volume

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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Morning Stock Pick General Moly (GMO)

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…
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Taseko (TGB)

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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