Yeah, heard about that. Somebody out there knows some value when they see it. A glimmer of hope for the rest of us.
Eric O's Favorite Gold Miners
Almaden was Bob Bishop's baby for I don't know how many years at the Cambridge House Conferences. It was always his top pick.
I heard him pump this one for many, many years. LOL...maybe it's time has come now?
CGR is the worst performing stock in my ever shrinking portfolio.
I'm very satisfied with my remaining stocks, AZK, MDW, MGN & TLR.
Though the investors do not have much confidence in CGR. Fundamentally I still think it's a good stock and can do well in 2012. But it's just to sticky, falls a lot with the market and takes for ever to regain value.
I'm I the only one concerned?
I can offer this perspective. only from examining the chart with technical analysis, for what that is worth....
I drew a good chart of Claude way back when it was looking strong above 2 dollars. The wave structure was about to begin the correction....normal price action, a necessary correction, and the greater targets to watch were the 1.50 area and a bottom area around the greater 'left shoulder 'support zone ,which runs from 1.38 down to 1.00 area ,so my chart saw a target around 1.35 area.... so Now, the technical play, is that this bottom target is close to complete....its not a time to sell...but a time to consider buying . IF the fundamentals are strong, and the technicals are showing oversold .... if you have a good entry point to start with, from last year or whatever... it would be a time to hold and/or buy more ,maybe with another dip into the 1.30's as a stink bid.... As bad as 1.40 may feel for Claude....the chart price action as a target is right on target.... and still ok if we get another little dip lower . If the miners are to ever hold any strength after this great correction, now is the time for claude to hold strength soon at this price level. Its the same with alot of miners now....International Tower Hill at 3.80-4 needs to hold. Atac at 2.10-2.25 needs to hold. Kaminak at 1.50-1.70 needs to hold. etc etc
Claude needs to hold this bottom area 1.15 -1.40 area
Looks like the gods of Claude were listening to me....price just spiked down to 1.35 and bounced there. mission accomplished. ?
....guess I'll be ridin off into the sunset now....lol
I like that phrase Turd said the other day about making spot on forecasts....its like being the first lookout on the whitestar to spot the iceberg.
Claude is in the bottom zone target now....but that 'left shoulder' support zone is a stretch from 1.40 to as far as 1.00 area so ....its possible next week could offer a whipsaw back down for a bit of more pain, to catch and establish this bottom area.
You know,the whole idea about owning miners or Not owning miners....is Who you want to believe understands what is really going on . red pill/blue pill........ those experts who say miners are good to own and Now they are screaming bargains ,so undervalued in relation to the metals...and the metals are suppressed down as well.... the global monetary crisis is a crisis that will end like a crisis, in fiat collapse....you know all the arguement on that side..... then there is the arguement against owning miners.... I'm not sure how to explain that ,since I took the other pill....but I think it has to do with these experts (Andy Hoffman for example) who worked/lived/breathed for 20 years, or is it 10 years..... In the wall street trading world, etc etc....and saw first hand the manipulation that made the game so rigged against investors that he decided it is impossible to own equities, including miners, in this corrupt system...and so he sold them all and only owns precious metals.
So the counter to the 'impossible to win' rigged game arguement....is that yes, miners can win the day...Eventually.... eventually, the PTB will be unable to keep up this level of manipulation, and eventually, metals and miners will start soaring again....etc etc....
So far, the evidence in the last 2 or 3 years is showing the PTB ARE able to keep the manipulation going. and they are doing quite well these days arent they...if thats whats going on. and there is little evidence so far that this rigged game, rigged against owning miners, is winding down in any way..... Yes,only Time will tell.... and right now, all we have to hang our hat on is faith and trust in the words of the experts we want to believe in, who say stay the course, dont sell the miners.
Some experts Are saying 'get out of stocks, including miners' Richard Russell, and others.
So it all depends on which pill we've decided to take. IF you believe miners are worth owning.... they are bottoming into their low zones now, like Claude here...and it would be a buy zone.
IF you believe its a mistake to own miners....now is NOT the time to sell....the time to sell was back in april and all the other tops....and if we are lucky we will get one more 'top' where we can sell and close out.
But not right now at the lows. is how I see it. If I was going to sell Claude and get out ...I would look to sell around the 1.75 area as a target .
It does look like the market is a rigged game. The question is whether the PTB can continue to suppress the metals and miners at will like this. or whether its the hedge funds, or tax season selling or whatever way you define 'manipulation' I dont know...but whatever it is that is keeping the metals and miners down .... or keeps then from soaring..... The direction is very unclear these days.
The expert is saying when the PTB (central banks) are selling gold now ,China and India are buying it up...ok...thats a support force to help the metal prices....But are China and India ALSO buying the miners ???? were they buying the miners last year?? somebody was....
I noticed that as well Eric. Avr up 18% on 6mil traded is another one. Makes me think maybe the funds are moving in after tax loss selling to ride a spring rally.
Somebody decided to buy the miners......? I guess i didnt notice the volume friday .... gotta go look at all my miners now....good point Eric about the miners which didnt participate in volume as laggards to look at .
So a triple bottom for AG at 14.
...my target lows were 12.50 to 10.50
maybe next spring ...unless this move now,a xmas rally starting, will get slammed at the resistance and year end and we see another great plunge in the first quarter 2012 to test the lows again.
we have to watch the 200 MA at 19 now for resistance and then the 50 MA for support.
Looks like a Range where there will be some strong selling at 21/22 area and buying at 14/15 area
I still like 12/11 area myself .
The market has really got me totally
confused at the moment. My instinct
Is to be bullish, but that's been pretty
foolish on a few occasions already
I moved out of most my juniors 3 -
4 months ago, into bigger caps. I'm
Glad I did that , I stayed fairly flat
whereas I would otherwise have
Wondering what Rick Rule is buying.
I know he used to be quote keen
on Geologix, maybe that's why it
moved so quickly on Friday ?
Thinking of initiated some small
'tester' positions tomorrow, and
working on a shortlist now. Glad
that you're still with us.
I addressed this topic after T replied to a post of mine at the Sheeple's Miners thread, but thought I'd bring it up here, as well. Namely, pink sheets. Naively, I have accumulated shares of several mining companies on the pink sheets in the past year, and am starting to feel very nervous that I'll never be able to sell them at a profit, or even get rid of them.
What should I do? Hold them and try to get out of them during the next rally?
Geologix. Very cheap right now.
Corvus gold. Baby brother of International tower (ITH)
ITH. Very cheap for a 10 m oz deposit, even low grade
ATAC ATC. Also very cheap considering recent results,
but might be quiet unless any takeover talk ensues.
Golden Predator GPD. Way oversold in my book, but
maybe financing due ?
Uranium One. Not a gold miner, but my fave U308 miner
at these prices. Ticker UUU
Are you still a fan of Primero at these levels ? Any other
particular favourites ?
Might top up with more Alexco and Impact Silver, if
prices dip a little in next couple of days, not sure yet.
Possibly might buy back into Pretium, but again might be
delays on news for a few months.