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This is good too, the word is getting out that you can make huge if not historic returns in miners at current prices as apposed to the general mutual fund stocks that are either stagnant or losing money. I think we are fast heading into a huge bull market in miners even after already doubling or tripling! IMO there is more at work here than just the price of gold rising every day.
http://www.ino.com/blog/2016/05/precious-metals-every-bit-as-explosive-as-secretariat-at-the-belmont-stakes/#.Vyv3EoQrJdg
Geo, I agree, you'll like this too.
http://www.goldsqueeze.com/home/no-time-to-be-cute-waiting-for-a-pullback-is-the-wrong-move
CLGRF/SSRI holding up well, SSRI earnings on the 11th I think.
MRDALE, It's been awhile, glad to hear from you again, how are things?
Sorry to butt in, but I think the issue isn't a pull back based upon any "technical" trading reasons so much as an engineered pull back to save a bunch of short cartel asses.
FWIW, There is a difference.
Good points T.
That wasn't directed toward you EasyRider.
It's not hard to predict another smack down, they've only been happening regularly for the last 5 years, preach it enough and eventually you will be right, even a stopped clock is right twice a day. What's hard is bucking the trend by being a PM bull, putting your money where you mouth is, investing in mining stocks at their lows, riding it out and making a +350% profit!
Looks like we are back to the daily criminal fraudulent smack down. Oh, and isn't it special that they use the "sell in May" meme to add cover to their criminal thievery. Death to the money changers.
Thanks cork, I appreciate it. Looks like gold and silver are heading north again tonight.
Yep cork, I've held a large position in CLGRF for +3 years now, soon to be SSRI position after acquisition deal closing this month, finally paying off big, both are doing spectacular!
Good one cork!
Not unexpected after decisively breaching $1300 this morning, hardly a correction or pull back though.
No Time to be Cute; Waiting for a Pullback is the Wrong Move.
http://www.goldsqueeze.com/home/no-time-to-be-cute-waiting-for-a-pullback-is-the-wrong-move
Tim Staboz had about 10 million shares a short time ago, now I guess he is down to about 350K, I'm a little shy of that, living the dream I'll tell ya! I will re-evaluate after the deal as well, it sure will be a lot easier to jump in and out with SSRI on the NASDAQ.
Cisco this might help, You have to look at SSO price history, they peaked at $40 in 2007 and $30 in 2011. You also have to read a lot of opinion in the blogs and weed out the ones you think know what they are talking about and come up with a consensus of opinion to put yourself more at ease. Read and follow the news releases, stats and articles to see just how undervalued they are, in this case Claude (very undervalued) was acquired by SSO (also very undervalued), an undervalued miner has much less risk of a major pull back, talk about the perfect storm! I have found Stockhouse-SSO, ihub-SSRI and Yahoo Finance-SSRI blogs to be very informative and supportive to remaining long. My opinion is SSO could comfortably hit $20 which would equate to SSRI @ $16 so, I am not selling anytime soon. Google has good charts and news updates.
https://www.google.com/finance?q=TSE%3ASSO&ei=0aEkV9mnBcnDe563uPgF
You know my opinion, T/A is meaningless in a manipulated market. I think the cartel is either letting it run or loosing control. Letting it run will benefit the overall stock market due to all the new action in the mining sector, maybe TPTB have decided that at this time helping the general market is more important than making the dollar look strong. JMHO
CD
Yes, it is good, now we can start playing catch up maybe with some institutional buying ahead and get to where we should be. Have a great weekend.
Here's what we've been waiting for guy's....+$30,000,000 per/yr free cash flow.
http://www.stockhouse.com/news/press-releases/2016/04/28/teranga-gold-reports-strong-free-cash-flow-per-ounce-of-144-driven-by-record
14 bagger for somebody, not us on average... I'm working on a 5 bagger, 1st ever! Should have it by deal closing. Geo, if PM's stay up, do you think there could be a surge or pull back upon closing of the deal.
CD
T, From what I have learned, Teranga has had and still has an image problem in the market place, much like Claude has had. We will see if the management addition and earnings release tomorrow AM makes a difference. GPL was on my list when I bought Teranga, they are up 110% since I bought on 4/6, damn that leaves a mark. MTO is severely suffering from their image problem, maybe not even recoverable, their trading action is beyond pathetic.
CD
Soros is a scumbag.
Organizations funded by him:
http://www.discoverthenetworks.org/viewSubCategory.asp?id=1237
This sure is a slow mover, climbed to .88-.90 Canadian after the latest release and just stalled. Maybe investors are leery of the latest production numbers being overly influenced by stockpile ounces.
Thanks Geo, Silver is now leading gold like it is supposed to in a bonafide PM bull market.
Anyone? Someone sold 900 shares .18 below bid after the close banging the price down to 8.50, how is this legal, what is the motivation and how does it effect the open?
VOTE, I've just submitted my yes vote. If anyone has had a change of heart, your vote can be changed up to voting cutoff date of 5/16/2016.
Yes, Claude is approaching 4.5 year highs, if SSRI did the same they would be @ $17+. I agree with you, I think $12+ could easily be in the cards for this year.
Win, Win, Win, Win situation after that!
But, the slam down had little effect on my miners, had yet another banner day, could this be further evidence we are truly in the midst of the next miner bull market?
Geo, I'm up roughly 10k instead of 15k with Claude @ 1.54, (sold Claude at 1.04, bot 60k @.545, got in late) I'm confident it will catch up though, just lagging more than Claude right now, thinly traded I think.
Momo, I sold 10% @ 1.04 and bought TGCDF and am now down $5000 compared to having done nothing. You could be right and I know it is the prudent thing to do, but so far CLGRF remains the best move I ever made, got in 3 years ago and rode it out buying on the way down and on the way up, I don't want to screw it up by selling early.
Geo, I agree, that is what I keep eluding to in all my posts, miners are coming off historical lows, IMO not to be visited again. The safe thing to do would be to take profits off the table in a normal fair valued sector, but I have been hearing that for months now. If I would have listened I would have missed out on thousands upon thousands upon thousands in profits. We do need to be cautious, but the deal hasn't even closed yet. One thing about this deal is, we have been acquired by another very under valued company so, we are experiencing a multiple bagger x2, very rare I would think, I'll admit when I'm wrong, kudos to management for this share holders dream! Now we need to hope the deal doesn't get voted down by either company's share holders.
SSRI is ripping it, will be $10 in no time, I must say I don't think CLGRF would be pushing 1.60 without them, I'll admit when I'm wrong, I am definitely a yes vote!
123tom, Your not acknowledging my point that miners have been severely undervalued to once in a lifetime lows that may never return even with another downturn in the stock market or even less likely metals, due to global financial uncertainties. Gold was $750 when miners fell in 2008-09, gold is now $1250, to be fairly valued, miners should certainly be NO lower than they were in 2008-09 with anything above $750 gold, I'm banking on that being the case, IMO miners still have LOTS of upside before I am ready to unload. No risk no reward.
123tom, Possible reason for silver's rise lately...check out the comment section, I have learned so much over the last 7 years by reading the comments on these sites, just have to weed out the sarcasm and idiots....
http://www.zerohedge.com/news/2016-04-19/chinese-start-buying-silver-bofa-says-momentum-breaks-out-highest-years
China Launches Yuan Gold Fix To "Exert More Control Over Price Of Gold"
http://www.zerohedge.com/news/2016-04-19/china-launches-yuan-gold-fix-exert-more-control-over-price-gold
Interesting comment section...
CD
123tom, Silver is up huge today $17 plus and ratio is down a even more, miners are going to have a banner day! Thanks for your interest, that is a lot of questions, I'll give it a try. I think over the last few years confidence the miners has been severely damaged through propaganda. I've been watching the price action of a lot of miners over the years as well and have determined that when you see huge price spikes on no news it is either inside info being leaked or MM's trying to breath some life into a particular stock. I think T/A is meaningless in a today's heavily rigged markets and any securities related to said markets. IMO The cartels have their marching orders to prop up confidence in the dollar by keeping metals down, I think eventually they will lose control when the safe haven/fear trade really kicks in. I think miners have been beaten down to once in a lifetime levels (the low being January 20 of this year) that if the stock market does crash, since miners are still so undervalued they may not follow. What I mean't regarding 2008-09 lows was, the level miners fell to in 2008-09 with gold at $750 is still multiples above were they are right now, they have a long way to go before they just normalize to fair value at $1250 gold.
CD
123tom, Spot metals DO warrant it, miners were beaten down 80-90% after years of negative "useless barbaric relic" propaganda, WAY undervalued still. If they were to just normalize to fair value they would triple from here. Miners are still no where near where they dropped to in 2008-09 when gold was $750.
Dating an event is always a bad idea.
This close is more like a 2 year+ high, 2 years 11 months if you shave a couple 10ths off the 2/14/2014 close of 10.5.