Current Trade

Friday, January 28, 2011

Reality Disconnect

It never amazes me as to the quality, and quantity, of information that is out there in the Internet, and as long as I have surfed... how easy it is to surf around some really good stuff... today I was (Hmmmm! can't remember where I was.... that directed me there) anyhow... I have been there before, but the opportunity to explore was not something I had the time for... that being said, I'm going over the site now as we speak, and I ran across this article... From Fundamentals to the Reality Disconnect sure makes me humble... a really down to basic description of the problem we face as chartists.


GLTA Lostoutwest


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A Financing out of step

This link takes you to a post on Grandich's site.... it describes an out of step financing... and the rationalization for the move... especially when they may have been a bit early in the move...

Peter makes a compelling case... However... I think they made the move specifically anticipating more difficult times in the near future... in spite of the upcoming milestone, better to have money in the bank at times where the ability to load up on cash is at maximum to weather times when money may be harder to get....

JMOP ... I think they see some hard times coming soon, and what better time to position oneself for coming out of a hole, to be in a position to take advantage of bargains in growth opportunities that may go on sale... I think it is rather intuitive... and very smart.


GLTA Lostoutwest


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Thursday, January 27, 2011

TKO.TO

I'm not expecting the market to crash tomorrow... but if we don't make some good broad market moves into the following week and pull away from this ... the broad market will take out a lot of overbought issues even with good value....Remember TKO is way under valued... but is quite volatile... if the market scrambles... we should be able to get better pricing...

DEI.V will likely pop before and RSC.TO the same, however as they are not extremely overbought, they should/could buck any broad market down moves for at least a bit....

People will try and balance the down move if it happens by selling strong stocks to shore up the losses...  the baby out with the bathwater syndrome.

Let's hope I'm just being a nervous Nellie. This has been one of the worst performing Januaries I have seen in a long time...


GLTA Lostoutwest


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One spook

and down we go in a broad market correction... The Venture and TSX charts look downright ugly.... I hope I'm wrong.... I would like to get a couple of months out of this until May... It won't be a waste unless you ride it down.... from the looks of the charts... you need to make a decision about an exit strategy... If you don't have to use it... great... gold and silver will likely be the casualties... more so than they are all ready... at least for a short term...  the charts in the Stockcharts Public List

This link suggests a frame of mind to embrace... my thinking exactly while the charts today likely have no correlation to this articles appearance on Stockhouse ... the logic of the strategy is not lost on me.

GLTA Lostoutwest


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Introducing

TERRACO GOLD (TEN TSXV): MERGER COMPLETE


 35 to 50 cents recently and has weathered the gold pulback nicely which indicates it is not overbought relative to the float..



Quote"
Good news from Terraco Gold. Yesterday Terraco announced its January 25th merger with Western Minerals. Terraco Gold now will develop its new Almaden deposit just 78 miles north of Boise. The Almaden deposit has been drilled with 887 holes and 200,000 feet of historical drilling is a measured and indicated gold resource of 864,000 ounces of gold and an inferred resource of 84,000 ounces of gold. The deposit is open along strike. Terraco will drill this resource in the 2011 season.

Terraco's Chief Executive officer Todd Hilditch said,"Terraco is excited to have completed the merger with Western Standard Metals to create a company that offers shareholders exposure to an exciting combination of gold exploration and development assets in the Western US. An upcoming drill program will target additional near surface gold mineralization potential along with higher grade feeder mineralization at the company's (new) Almaden gold deposit in Idaho. In addition Terraco will continue to explore the potential at the company's Moonlight project in Nevada which adjoins the expanding Barrick Midway joint venture in Spring Valley. Terraco is currently planning its 2011 exploration program for both the Almaden gold and Moonlight projects. These programs are expected to commence with mapping and geophysical work in February, followed by an initial drill program anticipated to begin in early 2011."

Under the terms of the Arrangement, Western’s shareholders received 0.75 of a Terraco common share in exchange for each Western common share held, and Western warrant holders received 0.50 of a common share purchase warrant of Terraco for each Western warrant held. In accordance with their terms, the outstanding options to purchase Western shares have been adjusted so that, upon exercise, for each Western share that would previously have been issued, the option holder will receive 0.75 of a common share of Terraco.
 
The market liked this announcement. The stock traded up seven cents (20%) on 600,000 shares. The Almaden gold project has the potential for a significant increase in size from its current level of approximately 1,000,000 ounces of gold.


Terraco’s Moonlight project may contain the extension of the Northridge fault which runs through the Midway Gold property directly to the South near Lovelock, Nevada. At present Midway has a resource of 1.8 million ounces of gold on its Spring Valley property that adjoins the Moonlight. Midway’s resource could double in the next year or so. Therefore Terraco's Moonlight is highly perspective for gold or silver discovery. Joe Inman, one of the most knowledgeable geophysicists in the world, is now performing IP analysis on the Moonlight project. Terraco will now have 157 million shares outstanding on a fully diluted basis along with approximately 1,000,000 ounces of gold in the measured and indicated and inferred largely measured and indicated status. Terraco Gold is a cheap Incubator stock at these levels.


GLTA Lostoutwest


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Three Stocks

RSC.TO looks to be breaking out... an HRA watch... support is in the 1.00 to 1.04 area... Uranium juniors have not had the run they could have yet...  and in spite of some broad market selling this one looks to have some upside before a consolidation takes hold...

DEI.V is showing some good head into the wind... It is the expected NR on the well test... due soon


TKO.TO I mean really... I know it is choppy, but the the fundamentals are mind boggling... for this price... it is just getting it's legs after that cheesy market sell, and Prosperity's fall from grace at the hands of First Nations and the Feds...  with the price of gold what it is... Fish lake is going to be side passed.... it looks like that cheesy market sell gave a lot of people a second chance... but the experience has left some nervous Nellies ... it's selling for less than half of the NAV.... did I hear GOING UP.
GLTA Lostoutwest


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The Markets

Not a bad open .... all six I watch are in the green... bodes well for support holding... if this moves into next week I would bet we see an almost immediate improvement in gold as that is what is driving the markets.

As we progress it is easy to see this is a churn with no real gain...

 GLTA Lostoutwest


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Update TME.V

Level II is backing off on the asks finally and the broad market has started what appears to be a bounce... both of which will likely be in favor with TME.V


GLTA Lostoutwest


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Update MDL.V

We are watching MDL.V because of  the hot rare earth aspect, and 5 things that this stock has going for it...

1. Micky Fulp speak
2. Projects in the works, and the alluded to HREE project still supposedly being acquired
3.American listing news due out soon.
3, Dr. Bird and associates on the management team deemed to be #1 quality.
5. low price relative to peers...

Click the label below to bring up related commentary...

We are approaching .40 cents and a lower bollinger touch (awareness of a lower bollinger skid as the downside).... as such the potential for a reversal is higher than normal, and low risk position that has better than average conditions for controlling risk is presenting itself...

Remember the strength of the move is highly dependent on the direction of the broad market...and we are on the cusp of a bounce or a crash... I think we will hold for the moment as far as the market goes, but I'm not making any bets as hindsight is the watchword..

Link to AOL sarch list of Micky Fulp Speak Micky Fulp Speak

Link to Home page Micky and Dr. Bird Speak Watch

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Wednesday, January 26, 2011

Update EVG.TO

From a technical perspective... gold has taken a broad market hit.... this has taken a toll on a lot of gold stocks aside from EVG... Technically EVG.T0 is more than extremely oversold... such that it would show a lack of skill to not mention it and to say that if you were interested in taking a position in one of many hit hard gold stocks that would allow for a lot of risk control to be enabled... this is the price range between .90 and 93 cents... there a couple of things that can be speculated on, and they are the recent gap down which is often seen as a signal itself for a bounce... as well there is lower bollinger break for 4 days, which in itself is extreme... and seen as an indication of a bounce... 98 % of the time... and the third signal is the white candle which is part of a 3 candle pattern called a ringed bottom... of the 3 candle pattern the middle is the longest down... this pattern holds the greatest value on an extreme down move relative to a recent high.

This makes .90 cents the cusp of a bottom... of course if the market spooks and turns early for gold ... it won't hold... in which case... mid to low .80's would be the next stop... The likelyhood remains to be seen, and the broad market is the key.

Evolving Gold

GLTA Lostoutwest


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Taseko

This stock was called the perfect stock by Motley Fool... Is Taseko the perfect stock It is a bit dated, and one of the cylinders misfired... Prosperity was kiboshed, but it appears that it is being rewired, and from a recent updated Nav share price target release... Prosperity may be down, but not out... even so Prosperity if it was removed from the NAV equation... NAV is still 12.67, kitchen table calculation, and as such this target is likely going to be revamped as time marches forward. it is my belief Prosperity will move forward... and the 16.00 price will not only be reached longer term but it will surpass...

Taseko shares had a pretty dramatic drop, and the volatility has been a bit choppy but INMOP if a person was to take a position and average in.. they are dealing with an uptrend that is just getting re-started... I doubt that there will be any more wild dumping like the one just suffered as there is a class action suit being mounted... and I personally doubt that the parties involved would repeat the same maneuver. However, it will be a bit choppy... expect it.

This daily chart Taseko should be viewed in weekly time frame to take out some of the noise and instill some confidence... I will be adding some commentary soon...

I also doubt the improper share selling was done by principles close to home in the employ of TASEKO, and if it was ... It will not impact the stock negatively in the long run, and if such a circumstance was to be uncovered, then the parties  punishment would only solid up the big picture by cutting out the sore.

Take BP for instance... (the gulf environmental disaster of  late)... have you checked the price lately... it is up substantially... Money Talks BS Walks

GLTA Lostoutwest


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On the edge

Both the TSX and Venture are sitting on the edge... it is nail biting... one spook, and the whole works could go flush... still there is lots of volume..

It appears there is enough bulls to sop up the consolidation... it is the time of year that traditionally has been the best 4 out of the next 12... Both the Canadian exchanges are in nose bleed territory... however they could hold for a few months more... churning and spinning to the End of May or sooner... the petrol dollar is still alive so the US dollar still has some life...  I'm starting to see some bounce to gold and silver... this leads to the next few posts in succession.
GLTA Lostoutwest


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Tuesday, January 25, 2011

The man who was fired

The Man who was fired by a google alogrithrim

GLTA Lostoutwest

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Monday, January 24, 2011

Major Buying Opportunity

Precious metals buying opportunuity Major-Buying-Opportunity

GLTA Lostoutwest


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Update - SQI.V

While the price was hovering in the .60 cent area we suggested that SQI.V would likely see lower prices and a reasonable position would be to take a position into cash... Charting continues to suggest lower pricing to come and a target although a bit extreme... does show to be solid in the .40 cent area over time... and the likely time it will produce will be in the summer doldrums....

We are using this weekly to suggest where the support is likely to hold ..... SilverQuest Weekly

GLTA Lostoutwest


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