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but 2.19 is also a resistance line. MUX needs to get on top of 2.19
Actually, I had a fibonacci target of 83.99 on the USD chart, but it looks like it's lost steam and is rolling over prematurely.
The HUI has a weekly PPO/ADX pincher forming that is fairly advanced. An ADX at 40 already.
A weekly PPO/ADX pincher on any chart is a big deal.
The SPX is at a profound 5 year double top. It could be forced to a daily upside target at 1606, but maybe not.
If gold is crushed further, it's a total fraud and everyone knows it.
All downside gaps have been filled in the miners.
I think we're at capitulation for real.
PPO looks like it really doesn't want to cross down.
MUX is a mature daily pincher play.
http://stockcharts.com/c-sc/sc?s=MUX&p=60&yr=0&mn=0&dy=18&i=p89148639856&a=258099638&r=1362778467164
UXG, then added equal parts of MNEAF after McEwen bought in.
Since 2003.
Gold will recover, SGCP needs a miracle. Miracles aren't common.
'''Either way it's time to git r done!'''
I think it is done.
b4atf,
during Doug's laughter, did he manage to say anything about how this company might be salvaged?
How do you know he laughed?
Maybe you should buy a ton of the black sands instead of a ton of the stock.
Nothing left for us to do but WAIT
Nothing left for us to do
Nothing left for us
Nothing left
Nothing
.
Hope I'm wrong.
Don't count on it. After Dec 27th, the tax selling will be done.....28th for options.
tosca,
you said, "and I don't give up the potential of a new company going public if SGCP proves unsalvageable."
As a present shareholder, that would effectively wipe you out of all previous investment.
Me, also, of course.
tosca,
I'd be delighted if someone or some entity were willing to bring in cash to keep SGCP living..
But I also see where we existing shareholders will not likely benefit if live is sustained. Anyone saving this company will want all the marbles and I can't blame them. This is a one in a thousand shot just at survival. IMHO.
The reason we had to resort to a deal with the devil which got us chilled, is we weren't going to make it on our own.
Charlie,
where is the cash going to come from, to keep SGCP alive, once the chill is off?
mdb1,
with what cash would we be able to do that?
We're now dust bowl Okies headed for California, the model T just blew a head gasket, we're out of gas.
"Our shoes are so worn out, we're back on our feet again"
We're walking and hopefully we run into Euell Gibbons, who will show us which roadside weeds we can eat and which we can't.........don't touch the Oleander or the Camas roots.
12th,
that doesn't make the 3.5 bill shares go away.
I bet the daytraders trying to trade this lost big also.
We certainly agree on that point. And I hope they can.
gemstone,
when you say, "when the folks over in Sierra Leone that work for SGCP learn their money tree no longer has leaves maybe they will step it up and start to produce.'
Are you saying they haven't been working hard enough?
I seriously doubt that the workers in Sierra Leone have any idea about the impending failure of SGCP or it's corporate structure or that the cash has dried up. They certianly aren't going to care wether you or I have lost money in this venture. IMHO
What is really telling is that Doug sounds like selling shares to pay the bills is the expected normal business practice.
Who is going to buy shares when the ceo actually says that and we're already at dead bottom? This isn't a one time emergency.
IMHO, this truly is dead. I see no avenue for recovery. Hoping to find the next Hope diamond isn't the answer, it's just too late.
I don't know if we will pullback that far. However, if the precious metals do selloff, MUX will also.
I have a GTC buy order at 4.11 just in case. BTW, I never trade more than about 20% of my MUX position, and that is with the purpose of increasing my MUX position.
Here is my daily silver chart. We're in a corrective mode after a 9 dollar run up.
I'd like to see a sideways correction, which so far has actually been the case.
In order to have the energy for a new run up, IMO, we need that adx+di line, the ADX line and the MACD lower.
The 34ema is what I use as my bull/bear baseline.
The gold chart has similar indications, except that the 144ma has been the supportive moving average on the daily chart for the past 3 years.
http://stockcharts.com/c-sc/sc?s=$SILVER&p=D&yr=0&mn=9&dy=0&i=p43373171458&a=239438600&r=1350050418134
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=11&dy=0&i=p79088491942&a=239043479&r=1350050445182
Tin foil hat. That must be very old. I don't think hats have been made out of tin in 60 years. All the hats I see are aluminum, but if you need farther range, you should use silver or gold.
Have any of Doug's buddies made contact with him yet?
I'll be adding at 4.11, but I was surprised by MUX's channel holding yesterday, at least 60 min.
http://stockcharts.com/c-sc/sc?s=MUX&p=60&yr=0&mn=1&dy=14&i=p72450669144&a=258099638&r=1349874310165
How do we know Bronson/Lionheart will have the cash to give back?
If these guys are scammers. Scammers move the money out reach.
12thman,
even though I'm a doubter, it doesn't mean I'd wouldn't like to be proven wrong.
I'm still holding my little position. It's not worth selling and I'd like it to be worth selling.
My thing is charts and TA. SGCP's chart just doesn't go lower. There really is no applicable TA for SGCP.
gemstone,
257k minus 88k
66k in equity sales was 66k out of shareholders pockets.
22k from loans has to be paid back.
I'm not sure where your excitement is coming from.
How do we survive without additional sales of equity?
expenses 271,920.00
tell me where I'm wrong.
I love it if extraction numbers multiplied, but I'm sure it's difficult.
Haven't we been selling gold, diamonds, food for years?
Timber? Those trees don't grow as fast as advertised in my personal experience.
A little early, isn't it?
The PR's were nice, but IMO, aren't moving the SP. The price of the metals will move the SP. Gold and silver futs have comeback to the really big lines this morning. As if gold and silver had magnetism. 1771 and 34.48. Quite amazing considering considering the overbought indications on their daily charts.
I still think we see 1725 and 31.80 area's, but the longer we hang around here, the more those overbought indications correct with a sideways price.
http://stockcharts.com/c-sc/sc?s=$SILVER&p=W&yr=3&mn=8&dy=0&i=p89305214764&a=244268044&r=1348576109561
I think McEwen is a class act and will eventually achieve his goal of creating another GG.
The other side on me is, I'm a purely a technical trader. However, I haven't been out of owning shares long in UXG/MUX since 2004. Bought equal share count of MEANF at .64 anticipating the merger.
I trade in and out of 10 to 20% of MUX at major lines of resistance, major weekly fib lines, weekly trendlines..first time up....when upside formation targets coincide with the aforementioned, at double tops, etc,etc.
All with the expressed interest in increasing my position in MUX.
I run charts on dozens of PM equities, etfs and the indices continually in an effort to coordinate the moves, coordinate open gaps to sense wether they are company specific or market wide.
I also think we can expect retracement. Weekly tweezer tops.
You can add to the upper trend line, the 38.2% fib line. In my experience, an equally important line.
MUX has not yet touched either of these on my chart. IMO, MUX for held under to allow expiration of options.
http://stockcharts.com/c-sc/sc?s=MUX&p=W&yr=2&mn=3&dy=0&i=p36047355188&a=255326838&r=1348322266928
We need an unexpectedly good gold recovery report. More so now than ever. A game changer, otherwise the exists will be clogged on just a few 10,000ths of a penny rise.
What isn't good for SGCP profits are the one quadrillion diamonds the Russians just announced they have in an asteroid crater. Diamond prices, which were artificial anyway, will likely plummet.
gharma,
whenever you see price targets in numbers like 4.75, divisible by .25, .50, etc, they aren't based in math, they are arbitrary.
http://stockcharts.com/c-sc/sc?s=MUX&p=W&yr=2&mn=3&dy=0&i=p36047355188&a=255326838&r=1347672661916
IMHO, MUX is headed for 4.98/5.03 where there is stiff resistance. However, through those numbers and the short position may want to exit.
http://stockcharts.com/c-sc/sc?s=MUX&p=W&yr=2&mn=3&dy=0&i=p36047355188&a=255326838&r=1347627801245