Posts Tagged ‘commodity’
china, commodity, copper, finance, gold, investing, market summary, mining stocks, molybdenum, taseko, trading, undeveloped mines
In Stock Movers on June 9, 2009 at 11:56 pm
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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 Market Analysis on June 9, 2009 at 7:17 pm
On a previous update I mentioned not to get too excited by buying the miners when they are overextended. Look for strength as the mining index will come back to support which was previous resistance at 37.50. Notice the upward sloping trendline that will act as support as well. Coincidentally it appears as the 20 day on the weekly chart is very close to this trendline.
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In Market Analysis on June 9, 2009 at 8:10 am
Thompson Creek came out with a news item today which states that it will increase production of molybdenum due to the improved market conditions. This is what we saw here a few months ago in the charts of Thompson Creek and General Moly. We believe that this is an opportune time to get into commodities as prices have not fully reflected market conditions. We will be issuing recommendations shortly on a few more trades. Stay tuned.
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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.
china, commodity, dollar, finance, gold, gold mining, investing, market summary, mining stocks, stocks, trades, trading
In Market Analysis on June 8, 2009 at 8:36 am
China is buying gold like crazy!
http://www.chinamining.org/News/2009-06-08/1244423563d25443.html
china, commodity, copper, finance, gold, gold mining, investing, market summary, stocks, technical analysis, trades, trading
In Market Analysis on June 7, 2009 at 8:40 pm
Notice the thick blue line and how FXI (25 largest and most liquid China Stocks) crosses that trendline on the point and figure chart. This shows us the strength of the most leading emerging market and how this market had impacted this rally for the past three months since the March bottom.
It is clear that China is buying up natural resources and stimulating their economy. The real estate market and construction industries in China are heating up. They are building power plants, mines and roads.
There are a few signs that there might be a slight short term pullback the next few weeks from the non confirmation in relative strength and low volume. However, this is the time to get into companies that the Chinese need which have huge amounts of natural resources.
The secret is out China is on the search for precious metals and natural resources. These next couple of days will give second chances to get into companies that have those assets.
We know what the Chinese need and are able tom make huge gains in finding the companies that have the greatest leverage to these necessities.
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In Market Analysis on June 4, 2009 at 11:51 pm
We wanted to show a 2 year chart on GDX gold miner etf. There is major resistance at the $45 dollar area which needs to be broken. In order to do that I would not be surprised of a short term correction to the $39 area. This is where I would wait so that the GDX comes off its overbought status and prepare for the next leg up.
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In Market Analysis on June 4, 2009 at 10:25 am
How hypocritical! Bernanke came out yesterday requesting Congress to curb budget deficits after increasing the money supply exponentially. Use this time period to look for additional opportunities to get into the best commodity opportunities. NGD, TGB, GMO and UXG are great low priced positions that will move higher in an inflationary environment.