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I have been holding from .0015, and I do get shaken out when I see profit potential POSSIBLY going out the window.
I have 3 other gold stocks that I am holding, but not as many shares as I had here. I needed to cut back my exposure someplace.
Can you not read, or do you just have a lack of ability to comprehend what you read. Show me in quotes where I said this stock was going to come down 50%.
Don't worry about me chasing a stock. I will re-enter at my time of choice.
I have let some big ones get away from me in my lifetime, and do not risk it any longer. These shares will be trading tomorrow, next week, next month, and next year.
Buy away. When the dollar starts to weaken again, and gold bottoms out, Iwill be back.
Sorry people, but I just exited my complete position..
$xau has broken down hard today, and very much looks like it is going to close well below the fib. 50% retracement level.
Gold down $23.
43-101 may be enough to hold this up, but I am not risking the profits.
Will re-enter later.
I agree with you pigfarmer, looks a lot like P&D.
Cutting, the start of mining was disclosed in the last conference call. Not in an interview.
I can only find 13,000 class b preferred shares held by a Karen Sandau. convertible to 1 for 20,000 common, (not 1 for 200,000). Info came from the last 10Q.
Also, these are restricted shares. I doubt that they will be converted anytime soon. She would take a big loss at these prices. The share price was a lot higher when she got the shares thru conversion of continental shares that she owned prior to UPDV buying them out.
Cutting, check the links to the 10Q. Looks like first 1/2 of 2009.
Also, mgmt. stated in the last conference call that possibly they could start this fall, but stated that it would be better to start in the early spring. The reason given for wanting to wait untill spring was because they would have more time to set up the mining plan, (where to start, what direction to go, how deep, ect.), Also, weather can be a factor in the winter in this part of Nevada.
Don,t pay any attention to stocksXpert or the seeker. They both just showed up here in the last couple of days to do the suttle bash. Neither of them have a clue regarding mining priorities and plans. Its obvious in their posts.
Found this link on another board. could be of interest to anyone considering this. I found it to be informative, and answered some questions that I had.
http://www.kereport.com/DailyRadio/Daily080708.mp3
Hello nybob. Yes, I read this yesterday.
$xau took a pretty hard hit again today, but closed just slightly above the 50% retracement line. Hoping to see a turn next week in this. Most PM stocks down today, along with this one. I dumped a real dog that I have been in for 2 1/2 years to buy this. Hope results are good. Need to recover some losses.
Have you any information regarding any production numbers, or if any news is forthcoming in the near term?? Also, do you know if the ore that they are mining here is oxide ore, or sulphide ore. The reason I ask, is because the cost per oz. is considerably higher to mine sulphide ore.
I would really like to get some info. regarding estimated cost per oz. to mine. Company needs to give an update. Looks like it is well past due.
8% float not in insiders hands I am certian is way to low. Can you show me the numbers to back this up??
Takeovers come in many forms. One way is to first buy enough shares to get enough clout to get on the board of directors. This method takes time, but then the board member goes to work on the other major share holders to get more shares. Also, getting "your man" inside CAN become very dirty for share holders. Companys have been intentionally destroyed by one bad apple on the inside to gain control.
Obviosely I can not prove this scenario out, but something big is certianly happening.
I have read several books years ago on how dirty the corporate world can be, and the games can really get rough and low life!! We think that MM's are dirty, but the corporate world can be far worse.
Please do not take this as being a negative for the stock at this time. I hold shares, and will continue to do so, but I am just trying to look at all of the possible reasons for this acting like it is.
Could also be a couple of funds or insitutions loading up.
I am holding free shares, and wanted to add on dip,s, but no dips to add on.
This thing has broken every resistance level that I have on my chart, except the 300% fib level. It went thru it this morning, but needs to close above .0634 to be confirmed.
If it does closes this high, I will need to re-set the high & low points!!.
I smell hostile takeover. Looks like one or more BIG major buyer/buyers.
MM's will take every penny that they can get out of the small retailers. Been trading for 15 years now, and have seen this time and time again.
They are sucking in every cheap share that the weak hands will GIVE them. Have you ever entered an order to sell at the bid and wanted out badly, only to see the MM drop the bid before your order gets filled. Or entered a market order expecting to get filled at the current bid, only to be filled at a lower bid price??? Have you ever seen the bid drop on a thinly traded stock while your broker is entering your order, and before it gets sent to the market??? This is an unregulated market, and the MM'S can do ANYTHING that they please to do with share prices. Show small (mm to mm) trades to raise or lower the price.
Perfect time for them to be pulling this. Low volume, no news period.
Obvious that the MM's are sucking in cheap shares. Jumped price back to .02 this morning on 5000 S. so they can try to sell the cheap shares they picked up yesterday at .016-.017 for nice flip.
Cutting, forget that "other" stock. It's a piece of junk with absolutely no potential. You are on a winning horse here.
Next level is 223.60% at.0531 !! Only .0001 above the close of today. Will probably break thu this one tomorrow, but with the form t's that went thru after the close today ????
Hot Hot Hot
Add 1.5M
Great day for GSPG...
We did not get the psycological .05, but the close put it above the 200% fib. level(at .0484). Strong showing. Went right thru the 176.40% line. Stalled there for about 2 hours, then over the 200% mark.
Next level to target is 223.60% at .0515
Unfortunately, I was not able to add shares. Wanted to see around .043, but it never happened. Will be putting in a gtc order soon tho.
Bought a starter position in this one today. Like the fact that they are in production. Would like to get an update regarding how well it is going tho.
Increasing reserves are impressive. Cash on hand and already diluted in and still a very reasonable share float.
$xau looks to me as if it will hold above the fib. 50% retracement level. It held up today at least (8/6/08). My guess is that gold, and the xau will start to head back up, or at worst, go sideways for a while. Both scenario's acceptable for junior miners PPS holding or improving. Summary, I think that the short term drop in gold and gold stocks is here, or will end soon.
Yes, I can get $gold charts all over the internet. But can not get them with the platform that I use for trading, unless I pay extra for the data feed. The analytical capabilities that are available with tradestation are simply by far the best that I have ever used. So, I do not need charts that I really can not apply quality & customized indicators on. The fib. levels that I use with tradestation are customized, and far more capable than what is commonly available with most charting software.
Welcome pnkbullshit.
I have not seen any financial analysis for GSPG posted on this board. But the company is obviously worth more than the price that it is at today. I am not the one to be able to come up with value targets based on hard numbers. Others watching this stock are much more qualified. Accountant type needed for this. And the info. contained in the 43-101 soon to be released, will give a lot more info regarding valuations and price share.
Your on a good long term hold stock here.
Can not get the spot gold, or gold futures charts with the platform that I use. They want more money for the futures feed, and spot chart feeds. It,s not worth it for me to pay for these feeds.
So I used the $xau instead of spot gold.
Good chart. I used a daily chart, but about the same results can be gained by using the weekly. Good stuff. Presently in short term correction, but begining to push the midterm numbers pretty hard.
I am seeing the 127.76 level as being important mid term support, (a daily close below this level), to raise the next red flag. The rules for using fib levels state that if the 50% level is broken, (at 143.38), then it is highly likely that the 38.20% (at 127.76), line, (mid term support), will be broken.
Trade well
P.S.- I still have not had time to play more with posting charts. Been really busy 7 days a week lately. One of these days I will find time to try again.
Darby, I just pulled up a chart of the $xau. The Philadelphia gold & silver index.
I used a starting point low of May 2004, and ending point high of March 14, 2008 to do a longer term Fib. analysis on this index. The index is composed of the top ten gold and silver mining companys in the world. It is often used as ONE tool to forcast future PM price directions.
Surprisingly, AS OF TODAYS BAR, it is setting at just above the 50% retracement line. We are definately in a short term down trend, and the mid term is about to be tested. The long term uptrend is still intact. The 123.60% level is what I am calling long term support.
The index is presently at 147.14
The 50% retracement line is at 143.38
One more day down like the last 2 or 3, and it will break this support level. Will be very interesting to watch. If it breaks, then the next level of support is at the 138.30% level, and at this AREA, PM,s should find REALLY REALLY strong support.
So, what this is telling me is that the price of gold can drop more.I obviously Do not know exactly how much, but I will venture a guess. $775-$800 AREA. If this area breaks by any meaningfull amount, LOOK OUT BELOW.
Please do not take this wrong, as I am not implying that GSPG WILL follow the $XAU down if the fib levels are broken. GSPG is walking to its own tune due to its own strong fundamentals and good managment. But it does not bode well for the sector at the moment.
Darby, I certianly would not disagree with good TA being capable of predicting major shifts going forward. But TA works because someone knows what is going to take place, and has started to adjust their positions accordingly. Therefor the sticks become out of rythem, causing the reversal signals to be generated. So TA is a valuable tool. But if we could gain the forsight of the people that are painting the charts, then that makes the fundamentals king. Of course the painters have large teams of highly educated people helping with their analytical work. And they likely blend TA with fundamentals, giving weights & measures to each, but likely more weight to the fundamentals.. We do not have that luxury. We only really have TA. I have been burned pretty badly in the past just using one or the other as a stand alone. Its a complicated game, and I try to balance the two as best I can. Your ELN analysis is a great example of TA working. And I see perfect examples all of the time trading the forex. I auto trade the eurusd with about a 63% correct system. Does not sound like much, but in the FX, it's really pretty good.
As far as gold still technically being in an uptrend- You maybe right. Unfortunately, I really do not do TA on the spot price. I did untill Jan 1st of this year, then tradestation started charging for the data feed, so I dropped it. I just check the prices 2-3 times a day on cnbc. I will look around, and see if I can find something that mirrors spot gold and do a little of my own TA on it.
good video post jmichn1. Claytrader was talking primarily about oil, but, gold is in the same situation. However, we have now entered the begining of the seasonal bullish months for gold, (Aug thru April). And we still have Iran problems. I am hoping to see gold hold it's price better than oil. Iran is pretty much the key at the moment. If something takes place over there, we can throw ALL of the charts away, for who knows how long.
Most gold & oil stocks down today, but there where a couple of exceptions. GSPG was one of them.
I hear you on that. I use a backup hard drive myself. Problem is I do not run it as often as I should. It saved me about 5 months ago when I had to re-format my system software. They are worth the money.
No, not yet. Looked at it yesterday, but did not pull the trigger. Wish I would have now.
Been pretty busy with adjusting my portfolio. Dumped a dog today to free up some additional cash. I have a nice oil play going that I added to today. I have been a little worried about the price of gold lately, and the money flow out of commodities in general. Money seems to be temporarily moving into the big names at the moment, and was hoping to see some signs of this reversing before re-entering. Thinking that GSPG would not bounce untill this trend reversed. Think that I out smarted myself on this one, this time.
I see that GSPG had a really nice last hour today. The close today puts The Fib. level over 150%. Good sign for an almost guaranteed move over the 176.4% level at .0468. Then, next stop .05
Looks like I better add on any pull back tomorrow, or risk missing this run completely.
Computer problems are a BIG pain. Never had a hard drive fail tho. Sounds like you got thru it OK.
HAPPY TRADING, AND BEST OF LUCK TO ALL.
Added 250,000 a little while ago.
Well, we certianly have a great debate going on here tonight.
Something about that 2.5M block that traded as a form T. hints to me that someone timed the buy to correspond with the O/S increase. Kind of throws out a hint that say,s don't worry, we have strong buyers to support what ever increases in the A/S ultimately come out of this.
Eugene stated a long time ago that the original 975,000,000 would not be enough to cover needs. So why are so many people so upset about this? Yes, it is a little bigger increase in O/S than I would have liked to see, but it will cover needs well into the future. Company has to have money to survive and expand, as a couple of more recent posts have correctly pointed out.
I think that I will just hold this. And if the share price gets dumped on hard tomorrow, (like .0006 that some bashers where suggesting earlier this evening), then I will own several million shares.
C,mon MM,S - Just knock it back down again!! I,ll add 600% to a nice position. I want to HURT you MM'S.
Added 35,000 to my core.
Looks to me as though that $8M. bankruptcy payoff will fall like rain!! Actually, 8M. is nothing compared to some of the debt carried by company's with share prices WAY higher than this.
Will most likely add shares Monday. My core position is in place, but think it deserves 25-50% more.
Super. Did not expect to hear this so soon. Looks like it will not take very long to get the other 2 shifts running now. I am certian that they will be working hard on this. Outstanding progress, and looking good going ahead. Bravo.
Darby, no, could not look at SS. Out of ammo. for the big boards at present time. SS bios. & most pharmas. is usually the correct side of the trade tho. Cash burn rate in the bios. is way to high, & FDA being pretty cautious last few years. They approved some really bad stuff 2-4 years ago. Used to trade bios & pharma's. but got burned a few times. Not really a sector that I follow any longer.
GSPG holding up well. I am still on the sidelines here, except for free shares that I am holding. Looking for re-entry. Should be any time now. May sell a couple of dogs, and load up again on GSPG.
Yes, that would be helpfull also!!
Earthquake over Nemegosenda!!!
Cold be a good thing. Maybe drain the lake, therby making it easier to drill. Or huge crack in ground could also eliminate some need for drilling. Just lower someone in a bosuns chair to take samples all along the fault!!
Could also sell tickets to tourists!!
For some of you guys that are more knowledgable than I. What do you make of this.
Just found this on an mark to market list. Shows FAILURE TO DELIVER of shares short. Many, if not most, companys show up on this list. However, one gold stock that I own was not listed at all. Not even 1 share. And guess what, the price is moving up correctly, along with the progress dictated in PR'S.
GORO, on the other hand, shows $1,405,000 & (298,947 shares) short sold, ALL FTD's as of 3/31/08.
That is a little on the heavy side, relative to the share float for GORO. 298,947 is quite a few days worth of daily volume. Other stocks that I own are listed as having a much smaller % of float showing up as FTD's, and the share prices are holding up reasonably well.
SEC needs to be getting their dead A#%ses to work on shutting this naked short selling down. If this problem is not addressed soon, this country is doomed, because only a few select hedge funds will be making ALL OF THE PROFITS, and shutting many legitimate company's down. GORO looks like a good candidate for the SEC to start with.
Or we need a 10 ton gorilla to stomp the dogge doo out of these naked FTD's bippies.