Gold

[anley]

Agree fastnet.

Gold I think is going very strong over the next few years but watch out for the small moves up and then the smackdowns ($5-$10) that come out of nowhere. Then the whole process carries on, until one day they can't keep the cork in the bottle anymore.

 

[bgold]

Agree fastnet.

Gold I think is going very strong over the next few years but watch out for the small moves up and then the smackdowns ($5-$10) that come out of nowhere. Then the whole process carries on, until one day they can't keep the cork in the bottle anymore.

I would agree with your assessments that if Gld breaks resistance there could be more upside. You will not be surprised toi hear that long term (in years to come), i am a gold bull. :cheesy:

For the immediate term, though, I still like a short set-up in gold and silver with commercials adding to already heavy shorts, and the impulsive decline in gold in the spring, along with this choppy and corrective rebound amidst very bearish-looking momentum divergences indicative of an important top, right into a full moon (mid-day today)-----

However, I do not like what I am seeing in some of the stocks where they are leaving three-ish looking patterns to the downside in cases such as pdg--and pdg looks to have further near-term development up here before anything is complete.

The sharp rally in the stocks prevents me from putting on anything aggressive.

PS. According to MRCI data, GC Z is seasonally bearish in October (see chart)!

 

[fastnet]

Indeed - I've been on the receiving end myself once or twice over the past 18 months. .

Are you trading Gold anley?

I'm wondering about shorting a tentative break thru the $415 level for that very reason with a stop and reverse (ie go long) at $418 ish. . . .

 

[anley]

Yes Fastnet

Have been long physical for over a year and long a collection of US/Canadian miners/expl. companies for nearly two years now. Plenty of ups and downs as we both know

The one I really like now is a small OFEX stock called Beowulf Gold which is starting to produce a fantastic story out of some claims it has in Sweden. The guy in charge is called Dr Bob Young and he's got a history of doing well for shareholders in penny stocks. Check out the website www.beowulf-gold.com and see what they're up to. Phelps Dodge has recently signed a joint venture for its potential copper.

I'm a shareholder in the company for about a year and have also just added to my position via a small placing the company has done. Personally I think the assets justify at least the present shareprice (5.5p) in a worst case scenario but if all goes well I wouldn't be surprised if the share could be the next Monterrico (MNA) which has gone from 50p to over 400p in the last year.

A big story I know but these kinds of gains are not uncommon within this sector. Of course though the reverse is also true that's why I like to spread my risk over at least 10 different companies.

PS. Back to your shorting up to $415, I don't know about that one but there's some good money to be made by a nimble short selling. Having said that I think Greenspan is talking on Thursday and normally 'they' like to smash gold the day after he speaks just to let the gold bulls know who's realy in control.........for the present time anyway.......

 

[bgold]

Yes Fastnet

Have been long physical for over a year and long a collection of US/Canadian miners/expl. companies for nearly two years now. Plenty of ups and downs as we both know

The one I really like now is a small OFEX stock called Beowulf Gold which is starting to produce a fantastic story out of some claims it has in Sweden. The guy in charge is called Dr Bob Young and he's got a history of doing well for shareholders in penny stocks. Check out the website www.beowulf-gold.com and see what they're up to. Phelps Dodge has recently signed a joint venture for its potential copper.

I'm a shareholder in the company for about a year and have also just added to my position via a small placing the company has done. Personally I think the assets justify at least the present shareprice (5.5p) in a worst case scenario but if all goes well I wouldn't be surprised if the share could be the next Monterrico (MNA) which has gone from 50p to over 400p in the last year.

A big story I know but these kinds of gains are not uncommon within this sector. Of course though the reverse is also true that's why I like to spread my risk over at least 10 different companies.

PS. Back to your shorting up to $415, I don't know about that one but there's some good money to be made by a nimble short selling. Having said that I think Greenspan is talking on Thursday and normally 'they' like to smash gold the day after he speaks just to let the gold bulls know who's realy in control.........for the present time anyway.......

Good plug Anley. What is the ticker of Beowulf-gold? Please be encouraged to share more ideas about small cap exploration companies. Indeed a great sector, if and when gold really takes off. Thanks

 

[anley]

BEO

www.ofex.com website ( you have to register to get prices).

The bid-offer not the best of deals with those stocks but then plenty of dynamite available if they take off.....

 

[CityTrader]

I'm a shareholder in the company for about a year and have also just added to my position via a small placing the company has done. Personally I think the assets justify at least the present shareprice (5.5p) in a worst case scenario but if all goes well I wouldn't be surprised if the share could be the next Monterrico (MNA) which has gone from 50p to over 400p in the last year.
......

MNA is quite interesting ( yes I'm long!) put themselves up for sale, and according to The Times 4 weeks ago, they have something like 22 buyers for the company. couple of days later some research from Hargreaves came out stating that the company is worth 837p ( I think) IF the price of copper is 90c - way below where it is now. So why is MNA 520 not 600P? fck knows....

If you fancy a punt on Gold Mines, have a look at ( another bull position of mine) Ormonde mining (ORM.L) They have a gold mine in Spain. A very comprehensive research note came out on Monday from the shop brokers with a short term price target of 15p, and a medium term price target of 30p- I can email the research note if anyone's interested ( I think it's available from the Ormonde mining web site)


I dont normally "push" my own positions but since they seem to tie in nicely with this thread, thought I'd mention them. Hope nobody minds..?

 

[bgold]

MNA is quite interesting ( yes I'm long!) put themselves up for sale, and according to The Times 4 weeks ago, they have something like 22 buyers for the company. couple of days later some research from Hargreaves came out stating that the company is worth 837p ( I think) IF the price of copper is 90c - way below where it is now. So why is MNA 520 not 600P? fck knows....

If you fancy a punt on Gold Mines, have a look at ( another bull position of mine) Ormonde mining (ORM.L) They have a gold mine in Spain. A very comprehensive research note came out on Monday from the shop brokers with a short term price target of 15p, and a medium term price target of 30p- I can email the research note if anyone's interested ( I think it's available from the Ormonde mining web site)


I dont normally "push" my own positions but since they seem to tie in nicely with this thread, thought I'd mention them. Hope nobody minds..?

Research document would be much appreciated. I couldn't immediately locate the website. Google search gets just brokers etc of the Hemscott quality Thanks

 

[CityTrader]

Research document would be much appreciated. I couldn't immediately locate the website. Google search gets just brokers etc of the Hemscott quality Thanks

http://www.ormondemining.com/ - the Davy research note is there as a pdf file. enjoy!!

 

[fastnet]

I couldn't bear it any longer so took the money and ran at 415.3 this afternoon - will re-enter on a firm break of this O/H resistance. . . . target $430+

 

[Money_magnet1]

Bought into [highlight]Ormonde Mining[/highlight] about six weeks ago @ 8.36p, showing 19% profit before the positive research note came out. Also noticed J P Morgan have just upped their stake (30.09.04).

 

[fastnet]

Agree fastnet.

Gold I think is going very strong over the next few years but watch out for the small moves up and then the smackdowns ($5-$10) that come out of nowhere. Then the whole process carries on, until one day they can't keep the cork in the bottle anymore.

Crazy drop y'day and follow thru overnight in Asia.

Dollar pretty steady which is strange since the two are usually highly correlated.

Gold sell off looks overdone? Anyone any thoughts? What else could be moving the price. Reports on Kitco point at profit taking. In my experience ''profit-taking'' is a euphemism for ''we don't know''.

Cheers

 

[PeterTT]

Think its all the metals and oil getting hit .. all hedge fund driven as funds that are long of one tend to also be long of the others and they start getting margin calls they liquidate all linked positions

 

[fastnet]

I hope so - dropping like a brick as I type and threatening to unsettle my bullish resolve. Dollar's just fallen out of its EUR channel as well - hoping this is scalpers running stops before it shoots back up towards 1.23. If not not we might be in for a bit of a wait. . . .

Cheers

 

[gene]

"Textbook" example of a Cup and Handle formation:

Note the last bar breaks out.

 

[leeshindig]

posted every week......

http://www.forexrate.co.uk/news/index.php?itemid=101

 

[gene]

"They" have been talking about a huge gold rally for a long time, now. I guess what's happened since early 2001 is pretty good, but a bit slow for my taste. Anyway, "They" have been talking about a super rally. I don't know if I believe the hype, but look at that cup and handle. If the market comes down a little (back down to 430 or 435, and heads back up, I just might jump in.

 

[gene]

The market's been tapping on the top of the handle the past few days...

Oops. Pardon the black data box.