If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!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. …
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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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Retirement Crisis
"Our nation's system of retirement security is imperiled, headed for a serious train wreck. That wreck is not merely waiting to happen; we are running on a dangerous track that is leading directly to a serious crash that will disable major parts of our retirement system." -- John Bogle, Feb. 24, 2009 Many people we…
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Watch for Higher Interest Rates
This chart is showing the short long term treasury ETF. What TBT is showing is that higher long term interest rates and risk of inflation is here. Look at the breakout on May 7th and the beautiful retest at the 20 day moving average to give a secondary buypoint. Interest rates will be rising and…
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Taseko Breakout
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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Market Summary May 26th 2009
The Nasdaq remains above its moving averages despite have light volume to support it. It is concerning because Nasdaq and Dow Jones appears to making a descending triangle pattern after a rising wedge formation. A break on volume at this point would cause the indexes to retest the March low. It would be nice to…
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Treasuries are dropping
Investors are nervous of the government sales of treasuries which is causing the late afternoon selloff. The oversupply of treasuries and Fed's balance sheet is a concern we should all have. How long can the government be bailing out and spending like there is no tomorrow?
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Dollar and Treasuries Look Bearish/Gold Mining Looks Bullish
I want you to take a look at this chart of the dollar and the long term treasuries. They are both very bearish charts. The dollar has a head and shoulder reversal pattern. In December there was heavy institutional selling followed by a retest of the high on low volume. Each time it has tried to retest…
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