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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.
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.
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.
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.
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.
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.