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Have to go along with Spellbound.
It`s called RISK REWARD.
chevy56
Anyone notice article on lawsuit is gone...
Maybe it`s out of the way....
chevy56
RedSky good to see you..
Hope MGMX will get a Geologist soon...
A geologist operation is in Columbia, name of the outfit is Expectorate, based in Nevada, (America)..
You know anything of this RedSky, you have traveled around Columbia, other gold companies have used them in Columbia.
Gold is a greater pay off....hope MGMX does not attempt to go into oil, even the big boys have not had any new big oil finds..
chevy56
Dryden,
I think a upturn will come soon....
chevy56
Just my thoughts....
Dryden,
I agree...
chevy56
Please do not misread my words, it is the understanding that is important.
chevy56
We should see a change soon, sometimes in the forest we see only the tree`s, it`s the other things moving around that we should pay attention to.
chevy56
Did We Just See the Last Gold Stock Dip?
By Mike Swanson
May 14 2007 11:08AM
www.wallstreetwindow.com
I've been talking for several weeks now about an approaching new bull run in gold stocks. Gold stocks have been consolidating in a long sideways trading range for over a year now. Once they breakout of this range they will begin a new upleg in their bull market - one that will drive the XAU up over 50% and many gold stocks to triple digit returns.
On Thursday gold fell over $16 an ounce to fall below its May low while gold stocks as a whole held their May lows, strengthening the positive divergence between the stocks and the metal since the May low in the XAU.
This is important, because in all previous corrections over the past year gold stocks fell harder than gold. Either the XAU/gld ratio would fall ahead of gold falling, as the gold stocks led the metal down, or else gold stocks would simply fall more than gold. If you recall during these times after gold stocks dumped I'd say we'd need to see gold catch up with the drop in the metal to be able to call a bottom.
Well on Thursday something different happened. While gold fell over $16 in one day the XAU/gld and HUI/gld ratios didn't breakdown and on Friday they actually began to turn up a bit. Gold stocks shrugged off a $16 plus point drop in gold.
This is something we have not seen them do in over a year. You can see in the chart above where I compare the three most recent gold stock drops and the action in the XAU/gld ratio. You can see the trend for yourself.
If this action continues over the next 72 hours than I think a gold stock breakout will indeed occur before this month is over. My article about gold bears having "two weeks to live" last week will end up being their final warning. Gold shorts will scramble to cover their positions.
Right now the XAU has resistance at 143 and support at 136.75. If it tests 143 this week it will be as sure of a thing as you can get in the stock market that its going to breakout this month.
One thing that has me so bullish about gold stocks is the fact that the 200-day bollinger bands are coming closer together on the XAU than they have been ever since I started to follow gold stocks in 2002. The 200-day bollinger bands measure the long-term volatility of a stock or index and when they come together it means that a trend of long-term consolidation is about to end and a new long-term trend is about to begin. We seen this happen in 2005, 2003, and 2002 in gold stocks and each time it did a huge new uplegs in the gold bull market occurred. The fact that the bollinger bands are more narrow than they were during those times suggests that the next upleg may dwarf the previous ones.
While the 200-day bollinger bands are narrowing, the 200-day bollinger bands on the dollar narrowed earlier this year and are now starting to expand again. This suggests that another down leg to the dollar bear market is developing. I see the dollar testing its 80 dollar 30-year support level within the next six weeks - and if that is broken gold stocks will go totally nuts to the upside.
To find out what gold stocks Swanson is buying now join his free weekly gold report. Start now:
http://www.wallstreetwindow.com/weeklygold.htm
****
Michael Swanson is the President of TimingWallStreet, Inc., which owns WallStreetWindow. WallStreetWindow contains the opinions of Swanson is provided for informational purposes only. Neither Swanson nor TimingWallstreet, Inc. provide individual investment advice and will not advise you personally concerning the nature, potential, value, or of any particular stock or investment strategy. To the extent that any of the information contained in this article may be deemed investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Past results of TimingWallStreet, WallStreetWidow, or Michael Swanson are not necessarily indicative of future performance. Michael Swanson, entities that he controls. family, and associates may have positions in securities mentioned in this article of on WallStreetWindow and may close them at any time.
TimingWallStreet, Inc. does not represent the accuracy nor does it warranty the accuracy, completeness or timeliness of the statements made on its web site or in its email alerts. The information provided should therefore be used as a basis for continued, independent research into a security referenced in this article so that the Subscriber forms his or her own opinion regarding any investment in a security mentioned in it. The Subscriber therefore agrees that he or she alone bears complete responsibility for their own investment research and decisions. We are not and do not represent ourselves to be a registered investment adviser or advisory firm or company. You should consult a qualified financial advisor or broker before making any investment decision and to help you evaluate any information you may receive from this article.
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Share price going down, conditions have not changed since the spike...
chevy56
Spellbound,
Wise words...
chevy56
eltonfan59,
I agree.
chevy56
Interesting, what`s going on today?..
chevy56
HAK41,
HAK41 good to hear everything is okay.
Things should get interesting with MGMX, my thoughts go back to that interesting accumulation of shares (chart), even with news that sounds none to pleasent, shares are being accumulated, question is, who`s buying up all those shares...
Small sell off today, Company claims to hold 60%.....
I noticed that article being pulled...
mules meeting seems to have stired things up, thats something.
chevy56
eltonfan59,
I`m with you, will buy more next week.Look at the price going up.
Selling at this point, no way....
chevy56
That`s the way it is in many countrys...
Some companies pay warlords millions...
Not all bad though, makes the product that much more expensive..
chevy56
AboveBlack,
No nothing of that...
Notice that Accumulation line on the chart...
Going up getting stronger.
chevy56
This is correct, although other transactions have not been as smooth.
chevy56
mule,
On the ownership of mines, some they do not own, trying to iron out problems with the locals. Some they thought they owned but turns out, someother family clan also own the property...
According to MGMX they own a couple of mines.
MGMX does not have high powered attorneys or big financial backing...
Which brings up crediblity. Ken Lambs wants a American Geologist to confirm gold in MGMX mines...physical inspection..
This I`m sure would make way for more financial backing...
These guys are going the mom and pop route...
Now Greystar was mentioned, but they would not say or elaborate on what came of this, if it is on going or what..
chevy56
P.S. Will try to stay around to answer any questions, if I can keep my ^%^%%(^&59computer up...excuse my language..
HAK41,
MGMX needs a 3rd. party (geologist, American), to check there mine`s.
I have been in touch with a world wide Geologist company.
Another gold mine company in Columbia used this same (outfit) Geo. company with success...
Seems in Columbia the hombre`s have made it tough for geologist....
Will let you know if anything comes of this project...
chevy56
P.S. Stay low, watch those winds...; ]
Dryden,
One of the directors mentioned, there was so much gold, you could pick it up off the ground.
chevy56
raging, RU,
Hope they read our board....
chevy56
mule,
Thanks for that e-mail from Ken Lamb, Dude your the best.
chevy56
HAK41,
Looking at that chart, next 50 day moving average should take us to .05...
What do you think?...
chevy56
Please, no one, take my word serious.
Hello mule, sorry to be gone for so long, computer crashed one week, this week AT&T went down at 2;30 am, just got back up at 4:30pm.
Sorry I have not read Ken Lambs cc....
Yet looking at the chart, I`m holding for the next run up...
I`m certain it should pass .0014....
chevy56
Just my thoughts....
learningasitgoes,
I`m not a chart person by a long shot..
Our last run took us to .0014, then settled back around .0005,
formed a nice base over to .0006. All this from .0002 to .0003...
Now it`s moving to .0007-.0008 nice....
With small buys in the last couple of days share price has moved....Now look at the buys today...
We are staying above the 50day moving average of .0005...a little dip one or two days.
Like I said, I`m not a chart person, but this is intersting.
Anyone that IS a chart person, please way in...
chevy56
With a nice move from gold, combined with a 50 day moving average, I`m expecting,,,,Well I don`t want to guess ; ].
Gold only dropped in price because of banks dumping gold in the last 6 wks. (Bloomberg Reported) 5-10-2007....It WILL run again.....
Spellbaound,
Congratulation on your daughter getting a scholorship..
I know it makes you proud.....I`m most happy for you..
It`s good to be able to give and help....
chevy56
Spellbound, I agree, things need to change...
Like to go electric car, solar for my house....
Small garden in the back yard....
Bloomberg mentioned today on the price of gold, European Banks dumped gold onto the market in the last 6 weeks, causing drop in gold price....
Once that get`s absorbed into the system gold will run...
I think MGMX will run also...
chevy56
P.S. Sold my car a few years ago...had it for over 30 years..
Spellbound,
Let`s see how long it`s going to take every one to get wise to ethanol....
Price of food is going up now, things are only getting started ...
Feed your stomach or feed your SUV....
chevy56
RU, I must post my frustration, gold down, platinum strong, tin strong....chrome strong...
CGHI run by greedy knuckle heads...^*^&^(^(*9-00i-))(*09
Alright I`m through, needed to get that out of my system..
chevy56
amfas,
Sound like business is good.
chevy56
mule,
mule`s have good instincts, fella I trust yours.
chevy56
They are hard to beat...great symbol...
A little hope
chevy56
Gold Bears Have Two Weeks to Live
By Mike Swanson
May 7 2007 11:33AM
www.wallstreetwindow.com
Early last week gold stocks fell hard only to end the week with a rebound. The drop caused many gold longs to liquidate their positions and left others wondering if we are going to even see another bull run this year.
On April 9, 2007, in my article "A Triple Buy Signal in Gold Stocks," I suggested that there were three technical indicators on the verge of giving powerful long-term buys for gold stocks. Since then we have seen gold stocks rise a bit, dip hard, and then rebound, but we have yet to see a new bull run for gold or gold stocks. Gold still remains below $700 an ounce and more and more gold longs are throwing in the towel.
I'll let you know why you shouldn't be one of these people in a moment.
It's been over a year since we saw the last major top in gold and gold stocks. Gold bugs have suffered, holding on to positions that trended sideways or sank in value as every potential breakout failed. More important than the monetary toll they have suffered is the psychological burden of living through the ups and downs of the consolidation trading range gold stocks have been stuck in all year.
People have been selling due to impatience as gold has continued sideways and a fear of losses every time gold stocks dip. Remember last summer when several leading gold commentators suggested that a big head and shoulders top was about to bring a new bear market in gold stocks? Well, what about now?
In my article, I cited three things that told me a new bull run in gold stocks was beginning. I wrote the following:
"Gold stocks have been in a long consolidation phase for over a year now. In the past, every time gold stocks have gone through similar long consolidation patterns they have emerged to launch powerful bull runs. There are three technical signs that suggest that this pattern is about to repeat in the near future:
1) Simple support and resistance trendlines are a staple of technical analysis. As you can see, the XAU gold stock index has been locked down by its upper resistance trendline since May of last year. The XAU is now only points away from breaking above this trendline resistance level, an act that would generate a second long-term buy signal for gold stocks.
In the past twelve months, every time it has rallied up to this trendline and failed to break out, a sharp correction occurred. If gold stocks don't immediately drop hard, they will be poised to break out and close above this trendline resistance level to generate a powerful buy signal. This trendline is currently at 146 on the XAU.
2) The 200-day bollinger bands are coming together. Bollinger bands measure the volatility of an index. When they come together it means that volatility is shrinking. This is important because shrinking volatility leads to expansive moves. 200-day bollinger bands are long-term indicators.
The two bands have acted as support and resistance for the XAU and HUI for the last year. It takes months and months of consolidation for them to come together like they have now. In fact, they are now closer together than they have been in five years. The XAU and HUI are likely to break above these 200-day bollinger bands and begin their next move up sometime within the next two weeks. Notice what happened when they did this in 2003 and 2005. A move above this 200-day bollinger band on the XAU will trigger a second long-term buy signal.
3) The action in gold stocks tends to lead the action in the metal. It is bullish when gold stocks outperform the metal and bearish when they lag the action in gold. During this past consolidation phase, gold stocks lagged the metal, just as they did during the last two long consolidation phases. This caused the XAU/gld and HUI/gld ratios to decline as you can see from the above chart. The last two consolidation phases ended once the XAU/gld ratio broke this downtrend line. The ratio has been steadily moving up during the past three weeks and is close to breaking out. Such a breakout would give us a third long-term buy signal.
If all three signals occur within the next few weeks, we will then have a confirmed triple super buy for gold stocks. The next leg up in the gold bull market will begin. But those waiting for full confirmation of the signal will easily end up missing out and will buy for higher prices. The time to think about buying is now, not later."
The first signal happened several weeks ago. The 200-day bollinger bands for the XAU are still coming together, suggesting that any break to the upside will have the potential to create an even more powerful rally than I imagined a month ago. The XAU/gld ratio remains stuck below its downtrend resistance line, but is going sideways and appears to be poised to breakout of it in a few weeks. Take a look at this chart:
You can see on this chart how the 200-day bollinger bands are narrowing. Take a look at how the bollinger band width indicator in the chart above continues to drop. What this means is that the volatility in gold stocks is still shrinking.
I know the XAU just dipped below 140 last week, but this was the quickest and most shallow correction in gold stocks we've seen in a year. The recovery happened in the blink of an eye.
This suggests that the volatility is reaching an apex. We may see gold stocks trend sideways in a narrow range for another week or even two, but after that we should see a rally that breaks through the upper 200-day bollinger band to establish the next powerful intermediate-term upleg in gold stocks.
How high could it go?
Well, history suggests when the XAU/gld ratio hits .20, which it did in March and once again in May, the XAU rallies 40% over the course of the next twelve months. And, of course, the right gold stocks do even better. In fact, some of my gold stocks broke out last week and others that I am watching right now are poised to make similar moves this week.
In the final analysis, the next two weeks should complete the end of the consolidation phase for gold stocks and bring the next bull run for gold stocks.
In two weeks the fun should begin. Gold bears have two weeks of life support left.
To find out what gold stocks Swanson is buying now join his free weekly gold report. Start now:
http://www.wallstreetwindow.com/weeklygold.htm
****
penny,
I went on line, found that some claim to profit well shorting penny stocks.
It`s not one of my practices, don`t give it much thought.
Thanks for you post..
chevy56
P.S. Can be a expensive practice if caught, (cover)
slimsleeper,
That conversation comes up often, many people have pulled up proof that it happens....those that say it does not happen, bring there proof..
It`s one of those high noon conversations, may the fast`s gun win...
It`s one of those things I let fly over my head...
Off shore I`m sure they can do what they want.....
Including not pay taxes....
chevy56
Dryden,
Wonder if that will apply when the rules change Aug.1st.
chevy56
Dryden,
Interesting, did not know that.
Thanks
chevy56
lizard,
It`s intersting, when such small buys began to move a stock.....
chevy56
eltonfan59,
Last 2 days small buys moved this stock up...
We had a lot more buys at .0003, seems the stock held tight.
Maybe nothing, small buys now moving this stock up in todays.
Interesting...
chevy56
eltonfan59,
Notice small buys seem to move this stock up?
Tuesday 3million moved it to .0006..
Today 25000 moved it to .0007...
chevy56
HAK41,
Your a chart person, how close to the next 50 day moving average ?....we should see a move up...
chevy56