GDX, the gold miners ETF, is on the verge on breaking out (hat tip to JakeGint). I will be watching for a breakout above $38.90.
I will also be looking for a breakout in AUY above $9.70:
Joined Jan 27, 2008
7,406 Blog Posts
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
not gold related .. but interesting:
7:31 PM
Las Vegas Sands-LVS CEO bought 7.8M shares, Barron’s reports
From March 27 through 30 Chairman and CEO of Las Vegas Sands (LVS), Sheldon Adelson, purchased 7.8M shares for $23.2M, an average of $2.95 a share. The purchases were made indirectly through one of his investment vehicles. Adelson now owns 338.4M shares indirectly and through trusts, giving him a 51.8% stake in the company. Although this is Adelson’s first open-market purchase after a 100-share buy at the company’s 2004 IPO, he poured $1B into Las Vegas Sands in late 2008 to acquire convertible senior notes, preferred stock and warrants as the company struggled to raise capital. Year-to-date, shares have lost nearly half their value and are down almost 96% in the last 12 months. Investors are fretting over stiff competition in Macau and lagging demand in its hometown, as scrimping U.S. consumers curb spending on vacations and gambling. Ben Silverman, director of research for InsiderScore.com, notes that while on the surface the buy seems bullish, there are several factors that make him hesitant about it. The $23M is relatively small, when one considers that he put $1B into the company late last year,” Silverman says. He also took $3B out of the company through sales in 2005 and 2006. As Adelson’s net worth is above $5B, Silverman says it is disconcerting to realize that his Las Vegas Sands holdings constitute a minority of that wealth at around $1.5B. Also, about 60% of the purchase is essentially a dividend reinvestment, says Silverman. Silverman says he also believes that the buy signals that Adelson doesn’t see any near-term financing deals coming together. Silverman remains wary, as Macau remains a difficult market, and the domestic economy continues to struggle
308, keep the notes coming.
question: at what point above the resistance level do you consider something a breakout? Do you also look for strong volume to confirm the breakout?
concern:
http://farm4.static.flickr.com/3169/3405074281_2ebf6bef56_o.png
It’s facing resistance from the price level, and from the top of its channel. maybe it’ll move sideways for a little while until it’s forced to either break above resistance or break down from the channel.
Ragin;
What happened to your video top 10 stock picks for the week ? Bring it back !
What happened to your video top 10 stock picks for the week ? Bring it back !
//////////////
it was nice ..missing that
Doesn’t this give more of a bearish macroeconomic outlook on the market/economy if people begin to push more of their cash towards gold ETFs?
Also, check out ENER. It’s holding its $13-$13.50 bottom pretty well.
RBY will be breaking the fuck out shortly
@ Hammy, Yes, I want to volume with the move.
@ Noob & Ring, top 10 video coming back soon.
@ ZM, Gold stock tend to run during bear market rallies. Like ENER with a stop right under the low. And, great work ovah @ the KOPG.
Basically Hammy, if it forms a large candle that breaks those lines on strong volume, it is probably breaking out. Keep in mind that 60% of breakouts retrace to about their breakout point before blastoff
Thanks mucho! ENER is set for a breakout if the overall market explodes… FASB and such is big time for not just the U.S., but the world. As Chart Addict said earlier tonight, great call on Solar!!
ZM