ThorAss Posted August 19, 2004 Report Share Posted August 19, 2004 Everything went up together except for the US$. POG merely repeated itself and went nowhere. In the short term (next couple of days) I still see a little upside for our suctor. My guess is we start to come unstuck next week when a $ rally is felt across the board. Blog Of course, a $ rally can't happen and gold is going straight up to X, Hooey to Y and silver to Z, where X,Y,Z are numbers that will make us all filthy rich. So no need to worry about any pesky downside risk because there ain't any. Link to comment Share on other sites More sharing options...
bearvest Posted August 19, 2004 Report Share Posted August 19, 2004 Everything went up together except for the US$. POG merely repeated itself and went nowhere. In the short term (next couple of days) I still see a little upside for our suctor. My guess is we start to come unstuck next week when a $ rally is felt across the board. Blog Of course, a $ rally can't happen and gold is going straight up to X, Hooey to Y and silver to Z, where X,Y,Z are numbers that will make us all filthy rich. So no need to worry about any pesky downside risk because there ain't any. Thor: I must object object to your referring to me as "Deervest". The reason is that I'm a bear, currently. While most of us can distinguish between a bull's horns and a deer's antlers, it could create potential confusion. This is especially the case with Stoolies who may be zoologically challenged or new members. Try "Beerfest" or "Barechest" or some other alternative, if you will. Both of these may be apt pseudonyms, in my own mind. Here's a chart for HUI. I arrest my bearish case: Link to comment Share on other sites More sharing options...
ThorAss Posted August 19, 2004 Author Report Share Posted August 19, 2004 As you wish, my liege. Just your name, although I know a collocation of bear and invest always reminds me of a deer hunter's vest. You think you got it bad. Doc usually calls me George!!! Link to comment Share on other sites More sharing options...
ThorAss Posted August 19, 2004 Author Report Share Posted August 19, 2004 GRS puts in a bearish candle, first bearish one on anything in the last week while Droopy, SMegH and INTC all light bullish candles. Link to comment Share on other sites More sharing options...
The CoinGuy Posted August 19, 2004 Report Share Posted August 19, 2004 Beervest... As I was ordering the ribeye the girl told me they just pulled a rib roast out of the oven, so I chose that instead. Prepped the solo car after dinner for trials this weekend, wasn't moving too fast with 20+ oz of good Nebraska Angus in my gut. Well...we part ways on opinion, this is fine, and what makes a market. Just don't throw a line that could put you on beans and franks. Right or wrong on a market, don't take too much risk... I do believe we have some more upside here, but we're looking like in a couple of days we could start to look toppy, and I'd probably just jump in with Thor and say a day or three more... When I say toppy though, extremely short term as in 7-10 trading days for a pullback. I still believe we have some consolidation/basing going on here, and this will give a chance for the laggers to get moving. So we have the #'s, my outlook for the completion of the 2nd leg of this current formation is the $hui @ 236, and 103-105 in the $xau. I'm covering myself with tight stops on selective positions that I think could meet possible trouble going forward, although these are the issues that you would find most volatile. Others, I use no stops. As far as your 5th wave, the 5 wave declines I've seen in the individual issues so far, look like truncated 5ths. If we do another down wave, I'm hoping for nothing more than 74 on $xau, and 158 on the $hui. At this stage of the game, I am not looking in this direction, but going forward over the next couple of weeks, I think we'll both have a good idea how this all unfolds. Right or wrong, I believe were in a secular bull in the metals, and this offers plenty of opportunities on both sides of a position. Best to you, The CoinGuy Link to comment Share on other sites More sharing options...
The CoinGuy Posted August 19, 2004 Report Share Posted August 19, 2004 Can't sleep? Pre-market and nodding off? Done with the charts? Peter Grandich Wednesday on RobTV.com, just scroll down the page at the link. I'm about half way through the show, like what I've heard so far. 12:30 - Market Call with Jim O'Connell North American mining companies, precious metals & base metals. Peter Grandich, editor & publisher, Grandich Publications Best, TCG EDIT: Peter is hot on Uranium, Cobalt etc...Recommends IUC.to, FCO.to etc...Top picks: Goldcorp, Nevsun(Take over target), and Cameco Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 Yesterday, I commented on the Mahendra debate, but some additions are in place. Although I doubt whether Mahendra is 100% sincere, he certainly does have a following. As such, he's essentially not different to me like for instance Robert Prechter. Bob uses Elliot Wave, something I am not really into either. (I do read Bearvest though) However, Bob does have a large following, and EW is a recognized tool by many traders. Marc Faber, an anal cyst I do value, also inquires into astrology. So, people I respect use or inquire into techniques I remain unconvinced of. To me this proves, once again, that trading is an art and not a science. You can be taught to hold a brush, but not to paint the Mona Lisa. Also, it will amaze many here, how many people out there believe that any form of TA is bunk. Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 Small update. I added with a close over the 85 dma, and think we are now oscillating between the 450-and 225 dma. For now, I plan to drop some stocks, in the event of hitting the resistance area of 210. These funds will be reallocated with a close over 216. In other words, the HUI between 210 and 216 may not offer the right risk reward to me. However, this depends on general market conditons as well. Link to comment Share on other sites More sharing options...
PeakOil Posted August 19, 2004 Report Share Posted August 19, 2004 Can't sleep? Pre-market and nodding off? Done with the charts? Peter Grandich Wednesday on RobTV.com, just scroll down the page at the link. I'm about half way through the show, like what I've heard so far. 12:30 - Market Call with Jim O'Connell North American mining companies, precious metals & base metals. Peter Grandich, editor & publisher, Grandich Publications Best, TCG EDIT: Peter is hot on Uranium, Cobalt etc...Recommends IUC.to, FCO.to etc...Top picks: Goldcorp, Nevsun(Take over target), and Cameco Thanks CG! Doin' just that... (damn ROB-TV is good!) Link to comment Share on other sites More sharing options...
DrStool Posted August 19, 2004 Report Share Posted August 19, 2004 Launchpad Construction Continues Countdown May Be Delayed Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 I can't help it but NG is still my favorite stock. Others in the Moonbag are NXG, HMY, GSS and FR. The last days, I couldn't keep my hands out of the cookie jar, and bought First Majestic Resource. (TSXV:FR) This is a microcap which recently went into production as a small silver producer in Mexico. The company is owned and managed by the same guy from First Quantum Minerals. (TSX:FM) FM is a stock which went from a microcap three years ago, to a marketcap of a few hundred millions dollars today. The COO of First Majestic is the former Anglogold country manager for Mexico. This stock has been mentioned by several anal cysts, although I got it from Jason Hommel. I am not a great fan of Jason's analysis, but admit that he knows all the silver companies around. The companies' fundamentals and management make this a compelling stock to me. However, I think only a modest position is warranted due to low volume. Provided that the general market is supportive, I can see this stock jump in the month to come. Chart seems to develop a favorable pattern.DYODD. Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 ......Today is google day......google day........day........ .....Anybody there.........body there.............there......... Hey Thor, I was wodnering how much you pay for cable in Jakarta? Ageka and Tiger from Hell, where are you and your posts? Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 I left the cyberscooter inside today, put my Scotland Yard hat on, and did some serious Sherlock work. NXG/NGX is fundamentally probably one of the better stocks to own. However, there is a big minus, IMO. The company has currently roughly 200 mio shares outstanding. However, on top of that, there are 40 mio warrants outstanding with an exercise at C$ 3.00, on or before December 2006. In other words, these warrants give the holder the right to buy one Northgate stock for C$ 3.00, on or before December 2006. (the warrants trade in Canada under NGX.WT and NGX.A.WT) Above mentioned issue creates huge resistance in the C$ 3.00 area. This is because the warrant-holders can short the stock without risk in the C$ 3.00. If you have the right to buy the stock for C$ 3.00, then it's a risk less short sell at C$ 3.00. The warrant issue equals 20% of the current outstanding shares, which is significant. To me this means, that Northgate is better as a longer term investment opposed to a trade. Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 That one is a case of good production, but at very high costs. A live example of depletion in action. Last quarter production of 24,345 ounces Au at cash costs of $492 US (ouch!). Still a decent little producer as trailing 12 has seen 138,542 ounces produced they just havent been able to do it profitably. They really need their Black Hills project to come online and do so cheaply. I can see that you've done your homework. That's indeed the case. As far as I'm concerned, you can proceed now to Headmaster GM who will hand you your purple star, gooby. Link to comment Share on other sites More sharing options...
Moon Man Posted August 19, 2004 Report Share Posted August 19, 2004 Nano....nano....Mork is calling. Link to comment Share on other sites More sharing options...
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