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Really, I’m spoiling you. It’s not going to be like this all the time, so pay attention. A lot of these little smoking grenades are launching right now, but not all of them (cf. the BRD is a word, a bad word, like PHUCK!). Don’t be afraid to bring up suggestions in the forum, but right now, I’m only recommending what I’m recommending because I feel good about what the chart looks like in a rising miner environment.
Take PZG as an example. I haven’t talked a whole lot about it in a while, but I like it right now. Here’s the weekly, finally breaking out of a medium term downtrend:
Now check out the daily. See how it’s right against the breakout, much like BAA the other day? That means your decision will be relatively easy tomorrow, right?
Just wait for it to break that upper triangle line. If it does not… well, you’ve got some more time to wait, that’s all. You can turn your attention back to the psycho silver market which is blowing up as we speak. AGQ, SLW, AG, EXK, MVG, heck even CDE and PAAS and SSRI are fair game at this point. Of course, SIL will obviate any decision making, much like GDX on the gold side.
Enjoy this time, my friends.
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Ande with the boner candle today. Buy on pullback to 44.75-45 .. ??
On the weekly, it says “wait til a break of $47” for certainty.
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Wonder how much this rumor of a CME margin hike requirement accounted for the selloff in gold and silver yesterday. Also reading there’s some strong resistance at the 1783 level as well for gold. I’m looking to continue to buy the dip in the PM ETFs while keeping an eye on that $172.50 breakout level that everyone’s focusing on with GLD.
Or, you could just watch the dollar.
(Down 30 bips as I type)
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http://www.youtube.com/watch?v=wm7D5VRfaTI
Jake any thoughts longer term on Primero(PPP) ? I know there is a tax issue that if resolved could deliver big cash flow. Thanks for all the great work here!
Jake,
I love your blog and admire your success.
Are you taking new clients?
Tim
LOL. I am not a broker or any kind of professional stock jockey, but thanks.
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BRD is a bad word since they just diluted, adding to the pressure from message board gossip that their estimated ore quality is not adequate for profitability. But that could go “poof” with the next PR news release.
Wondering how soon NUGT retests the January highs – it hit mid-26s yesterday ($0.60 from the January highs) before retreating…I’m thinking sometime early next week for a re-test.
Man, I’ll have to look at it, but I can’t help but see a bearish flag forming on NUGT…
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Compare NUGT’s January double tops – the first was 26-something, the second a few days later just grazed 27. A retest at the end of this month, just like in January, seems likely since goldbugs bullishness has not diminished since January (as noted by no letup in daily articles written about gold mining stocks). So given the continuing rise in oil, interest in gold as an inflation hedge should temporarily remain strong…No reason why we don’t have a second re-test of $27 in NUGT similar to January’s retest of the $27 range. I would guess we have another week or so until the crescendo calling for another pullback becomes a self-fulfilling prophecy from all the financial news echoes.
What are your thoughts on GPL?
has to stay about $2.60
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