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Post by novie08 on May 9, 2014 10:21:51 GMT -5
Gold in backwardation, futures +, spot -. Silver not so much, both are negative.
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Post by novie08 on May 12, 2014 10:47:19 GMT -5
Hmm. Gold making lower lows, a typical pattern when NY opens to a nice bounce. Silver OTOH is hanging in. Fortuna (FSM) reported record earnings this morning, +6% currently.
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Post by huh on May 13, 2014 8:49:57 GMT -5
Was thinking GORO would retest 4.40 and soon, but at least gold held above 1285. Nice call, "novice".
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Post by novie08 on May 13, 2014 11:10:27 GMT -5
Just noticing PZG, another miner I've held all the way down is +11% on huge volume. Thanks huh, but I cannot take credit b/c when I make any calls on gold, it generally comes from M. Armstrong. You can pooh-pooh him all ya want, but he has been exactly right about the markets. I only wish I understood him better since I cannot afford his private newsletter/conferences. I'm telling you, the guy thinks globally and is a real genius. I don't know who helps write his models but he is the one who has studied cycles for years and he apparently never sleeps.
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Post by jacksrbtr on May 13, 2014 11:32:57 GMT -5
Continental Gold reported its updated resource estimate increasing its gold reserve 70% so what happens to its pps? Nuthin much.
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Post by novie08 on May 13, 2014 11:43:55 GMT -5
Continental Gold reported its updated resource estimate increasing its gold reserve 70% so what happens to its pps? Nuthin much. Hmm. CGOOF +1.9%. and CNL.TO +1.8%...on my screens.
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Post by jacksrbtr on May 13, 2014 14:26:43 GMT -5
Continental Gold reported its updated resource estimate increasing its gold reserve 70% so what happens to its pps? Nuthin much. Hmm. CGOOF +1.9%. and CNL.TO +1.8%...on my screens. I can only attribute this lackluster performance in light of the blockbuster news to anyone or a combination of the following: - it was already priced in - Mr Market doesn't give a rip about drilling programs and resource estimates it is ONLY interested in gold produced (see GORO today up 25%) - the gold commodity and the miners's direction is indeterminate at the moment with a slight bias downward, and/or - Hell I dunno.
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Post by novie08 on May 14, 2014 8:58:41 GMT -5
Here they come Jack. Nice moves this morning. Patience, patience...Charles Nenner saying lots of volatility this summer with a low @1180, then will retest highs and stocks moving up for a few YEARS! GL all. Personally will try and trade the volatility in small amounts.
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Post by clinton on May 15, 2014 7:23:26 GMT -5
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Post by novie08 on May 15, 2014 12:53:28 GMT -5
I attended the webinar wherein he announced/explained it. I cannot remember the exact number but one must own at least $50,000 worth to swap to physical.
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Post by clinton on May 15, 2014 22:42:01 GMT -5
Investing.com - Gold prices gained in Asia on Friday on physical demand and as the CME cut the amount of collateral required to trade the benchmark gold and silver futures contracts overnight.
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Post by jacksrbtr on May 16, 2014 18:21:52 GMT -5
India elected in a new President who is friendly to business and supposedly will cease taxes on buying gold - should be good for the spot price of the yellow metal.
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Post by jacksrbtr on May 18, 2014 10:41:42 GMT -5
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Post by huh on May 22, 2014 7:41:55 GMT -5
Keep an eye out for a pennant breakout in Gold the next couple days. When it breaks, should move ~55-56 points in the direction of that breakout. If it were to see an upside breakout today over 1304, it would target ~1358.50, and that would give it a good chance to fill the gap at 1372-1373. The bottom of the pennant sits around 1284 today. (as with any pennant, need to be careful of a false breakout, but the gap would help support an upside breakout)
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Post by clinton on May 22, 2014 8:28:10 GMT -5
should get a break out since I sold half my GORO.
sometimes all it takes is a sacrifice to the stock gods
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Post by huh on May 22, 2014 9:00:14 GMT -5
GDX and GDXJ filling the opening gap. Curious to see what they do now. Could be an indication for what Gold will do here with this pennant.
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Post by huh on May 27, 2014 6:51:53 GMT -5
Keep an eye out for a pennant breakout in Gold the next couple days. When it breaks, should move ~55-56 points in the direction of that breakout. If it were to see an upside breakout today over 1304, it would target ~1358.50, and that would give it a good chance to fill the gap at 1372-1373. The bottom of the pennant sits around 1284 today. View Attachment(as with any pennant, need to be careful of a false breakout, but the gap would help support an upside breakout) Gold fell below that pennant. Would need >1288 to early today to become bullish again (and that number's a rising resistance now)
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Post by jacksrbtr on May 27, 2014 6:57:01 GMT -5
Keep an eye out for a pennant breakout in Gold the next couple days. When it breaks, should move ~55-56 points in the direction of that breakout. If it were to see an upside breakout today over 1304, it would target ~1358.50, and that would give it a good chance to fill the gap at 1372-1373. The bottom of the pennant sits around 1284 today. View Attachment(as with any pennant, need to be careful of a false breakout, but the gap would help support an upside breakout) Gold fell below that pennant. Would need >1288 to early today to become bullish again (and that number's a rising resistance now) View AttachmentGold is going down WTF can afford the stuff when even chop meat is going for what it is?
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Post by clinton on May 27, 2014 7:58:59 GMT -5
Gold is going down WTF can afford the stuff when even chop meat is going for what it is?
I think your on to something there.
bracing for inflation is a luxury item most cant afford.
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Post by huh on May 28, 2014 9:28:05 GMT -5
I was thinking Gold and miners should at least retrace some of that big down move. Not happening so far.
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