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Man, talk about low volume. Would like to see this pick up soon.
Now that was a disappointing close. I wonder who the dummies were that whacked the bid for the last 10 minutes? Some traders just haven't got a clue.
Question for the board; is anyone having a problem with the trades page locking up their computers? I clicked on EGI's trades twice today and had to restart my computer each time cuz it completely locked it up. My computer never does that. Anyone else have that problem?
I see it! We will retest .70 just like we retested and broke thru .56 ... waiting on the volume
I agree with that statement 100%. Just let me add this; I think the most important technical consideration today is not breaking and holding .60 cents but to close above the 50 day which is .57 cents. Too hard a move off the bottom usually sees a harder retracement. I like this company's prospects. I have read and DD'd this company to death and feel it is highly undervalued versus involved risk considering the company has fail-safes in place with Rio Tinto and Turquoise Hill Resources being major shareholders of Entrée and footing the entire bill and risks in Mongolia. Also, the amount of moly and copper in the ground in Nevada is growing as they sample the area and this could bring additional partners or a buyout offer at some time in the future. This is a rare opportunity, IMO.
Technically, if $EGI breaks above and closes above .60 cents, that's great. But I think the 50 day and the recent .56 cent swing-high are the most important things today. On Oct. 24th, $EGI broke out on the highest volume it had seen in two years. That high volume day which was 1.2 million shares indicated a trend change reversing the two year down-trend. Since then, the stock has retraced and retested that .56 cent swing point breaking above it and will close above it today confirming the uptrend. $EGI will go a lot higher from here, but the time element is the only question. $EGI is a solid keeper no matter what it does tomorrow or next week.
Do you know how much off hand?
Yes, read the following link I posted earlier. It says how much it owns in that post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81440441
I agree with you. Normally one has to worry about stocks trading this low. Buy with $EGI, there is much less risk due to the fact it has big mining backing footing the expenses in Mongolia and has absolute proven resources in Nevada. Not saying this stock will skyrocket, but it has hidden value that many are now aware of that will eventually show up in the stock price. Your $2 price target is easily attainable, just a matter of time.
$SANP, now that's an interesting one.
$EGI has bid higher all day without pulling back. Starting to show strength here. This is a great value longer-term hold with great risk vs reward.
I know, you guys on this board are great stock pickers. I hope you stay around. Great ideas are often introduced right here. I also like the fact no OTC or Pink junk is allowed. Only real stocks.
Hi Augusta, if you look at this chart, (see link) you will see that .57 is first resistance which is the 50 day. Then next resistance is .60 cents. Look at the recent breakout on volume. IMO, none of the resistance points will cause much trouble going forward. Next swing point is .70 cents and that is the point of most interest to me.
http://stockcharts.com/h-sc/ui?s=EGI&p=D&b=5&g=0&id=p73585826649
I posted this on Orion's board.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81440441
$egi chart link. Look at recent volume breakout.
http://stockcharts.com/h-sc/ui?s=EGI&p=D&b=5&g=0&id=p76302410363
$EGI has turned and started to move off the bottom. It did a Fib .618 retracement and looks to have bottomed and turned. There is a lot of value in $EGI, with Rio Tinto and Turquoise Hill Resources being major shareholders of Entrée, holding approximately 13% and 11% of issued and outstanding shares, respectively. Rio Tinto, through its majority ownership of Turquoise Hill Resources, beneficially owns 23.6% of Entrée's issued and outstanding shares. They are partners of $EGI footing all the expenses in Mongolia, which takes all the risk out of $EGI in that area. $EGI is backed by big money and cannot fail.
EGI also has interests in Nevada with deposits containing copper, gold and molybdenum which moly is considered a rare earth material or element.
IMO, EGI is a prime buyout candidate. This could be a multi-dollar stock in a couple years once investors realize the great balance between risk vs reward with $EGI.
Pullbacks are a great place to buy stocks. Since $EGI just did a .618 Fib retracement, today is a great place to enter. The stock recently broke out on the highest volume since 2009 which indicates the trend has reversed. This recent pullback has scared some holders into selling, that's what the market likes to do. To make money in the market though, one has to know technicals because price and volume do not lie, this stock will outperform the market going forward.
Again, patience will pay here. Don't let the market steal your money. $EGI is a high value play worth way more than the current .53 cents it's trading for.
For anyone else that wants out, here's your chance. There's probably 35 to 40K on the bid at .53. There's your chance.
Who knows where it's going for sure, but .53 is a Fib .618 retracement. It'll be interesting to see if that holds. Doesn't matter what others do, I'm holding and adding.
Actually, I misstated the Fib numbers. The run started at .43 cents and ended at .70 cents. That's a run of .27 cents. .27 x .618 = .16686. .70 - .16686 = .53314. .565 was a 50% retracement, not a .618 retracement. So, a .618 retracement brings us back to .53 cents close to our low of .535 today. I don't know about you or others, but with the value that is represented here, I am adding down here. I will hold till after it passes a buck. This will outperform the market by leaps and bounds going forward. People selling here are not only losing part of their investment but huge gains going forward.
You have a good entry point. If you exhibit patience, you will do very well over time. EGI will be a big time market beater. It has financial advantages most junior miners only dream about.
Everything's cool, I never hold a grudge. We're all here for the same thing. Up on Monday.
Anything is possible with this low volume, but I expect support at the 50 day at .57 cents and more support at .565 which is a .618 Fib retracement point.
That's just the way it is, but probably because people that are already in know it is going higher and others are waiting to confirm a bottom is in. Some won't get back in until it breaks the latest swing point again at .70 cents.
It's a very good thing technically when a stock moves up on much higher volume than it retraces on. As I posted yesterday, I expected a few days of consolidation in this range. Patience here will pay. Look at the 8 year chart I posted earlier, there's no question we have a double bottom and we are coming off the bottom of the channel.
Right now we have a long legged Doji if we close at .60 cents. If it closes up or down a penny or two, that would give us a nice hammer. Both the Doji and the hammer signify a bottom. Both would need a follow through up day Monday or Tuesday. With this low of a volume day, we would actually be better off technically if the stock either closed flat or down a penny or so.
(Shhhhh) Please maintain utter silence. EGI is resting and building strength for the incredible run that's coming. We wouldn't want to disturb her now, would we?
If you don't believe me, just ask canadapetro. (smile)
10 year chart for EGI. Looks to be coming off a double bottom matching the low of 09. EGI is at the bottom of its channel. Mostly upside from here. Recent volume explosion has confirmed a bottom is in.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=egi&time=13&startdate=1%2F4%2F1999&enddate=11%2F9%2F2012&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&x=33&y=15&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
http://stockcharts.com/h-sc/ui?s=EGI&p=W&yr=3&mn=0&dy=0&id=p30215734945
10 year chart for EGI. Looks to be coming off a double bottom matching the low of 09. EGI is at the bottom of its channel. Mostly upside from here. Recent volume explosion has confirmed a bottom is in.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=egi&time=13&startdate=1%2F4%2F1999&enddate=11%2F9%2F2012&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&x=33&y=15&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
http://stockcharts.com/h-sc/ui?s=EGI&p=W&yr=3&mn=0&dy=0&id=p30215734945
Okay, I give up. Which one is you?
:o)
The pullback is on light volume and could be close to being done. This run started at .43 and ended at .70 cents. A .382 Fib retracement which strong stocks tend to do would bring us back to .5969. So far our low is .61 cents. It hasn't even done a .382 retracement yet. If it decides to do a 50% Fib retracement it would come back to .565. Considering the 50 day is .57 cents, that puts double strength support in that area.
Again, volume is light and this retracement is normal. This could consolidate here a few days and then continue its move upward. Patience pays here.
Lets do it!!
Morning canada,
Two buys at .70 cents. One for 2000 shares and one for 4000 shares. Probably just an M&M thing.
No, I did not sell. But, I did add 10K at today's high like a dumb-ass. So I'm under water on that 10K but I'm way up on my initial 15K at .495 and my 25K between .43/.45. So get your cowboy tail in gear and pump this back up!!
:o)
I think you need to pump harder, going down not up, LOL.
I really wish I had your conviction, $5.00? How many years you planning on holding?
Look at the buy to sell ratio.
http://ih.advfn.com/p.php?pid=trades&symbol=EGI
I was gonna sell, glad I didn't, this has turned into a beast. I think we could be squeezing some shorts here. A buck isn't that far off, wow!
I didn't think it would be up today, but it is strong.
I have to say, you were right I was wrong.
I hate refuting you cuz you go nuts and wear out your keyboard trying to prove me wrong. But, facts are this stock is up 36% in a couple days and would be best to rest some at least. When a stock gets too far ahead of itself, it can crash and ruin the stock. As I posted yesterday, I think the stock will be down today, but I could be wrong and I hope I am wrong. If it is up today, I will sell into strength.
That said, the futures are down huge today on Germany's news of a slowing economy and Obama's reelection. Also, copper is down this morning and that is a major resource for this company. Today will be interesting.
I think it retraces tomorrow and then recovers or maybe sees a down day. I say that because I am a realist and not a pumper. One must remember this run started at .45 cents so we are up 36% in a couple days. Common sense says that is not sustainable on a stock like EGI. So far I have been 100% right in my predictions of this stocks movement, but that can certainly change. Tomorrow will be interesting to say the least.
This is my last post today. Luck to longs.
Been trading in Gold, Silver, Platinum, Palladium, Copper, Rare Earths for 15 years
Really, caught ya now. How can that be your picture then, LOL.. I told you were cowboyman613. Tell us where you got that picture at, it sure isn't you, LOL!!
The Mongolian government has already started hitting Rio Tinto up for more concessions at Oyo Tolgoi, and it's only going to get worse.
I hear what you are saying, but Rio Tinto addressed that issue telling Mongolia no to extra interest because they had a legal and binding contract already in place. Since then, Mongolia has dropped the issue. I think Rio Tinto has enough experience to deal with foreign governments and business will move forward as planned. The latest PR stating power was in place has confirmed the project is moving forward without a hitch in signed agreements. Mongolia requested, not demanded and the issue is dead. That request is why this stock dropped so much. Great buying opportunity now. Chart and fundies looking great. Remember, our risk here is reduced via agreements already in place with Rio Tinto etc.