.....are you liking the volume? Looks pretty good all around hey? Gold/silver...miners..
Silver hit a crucial point today....expect a little pullback here.
You think it should be bought? Im guessing it should, even if it pulls back further to base support of this move...i thinks its...32ish or something like that...could be wrong, dont have chart in front of me.
I know what Wolf thinks.......Robo....what about you?
What if instead of buying they get bought?
I have stated this several times. I don't hold my breath. If it were happens great, I don't own it because of it, although like many here I hope and would love to see a larger miner come in with an offer. Just because GPL is looking to acquire doesn't mean that another larger miner couldn't come along and make an offer to share holders. Management has no control over that and if dumbo knows anything he knows that. He just neglects to respond to that when I throw it out there. Nothing is written in stone in this or any sector. Just because GPL want this or that doesn't make it so, until it is so. There are many variables and factors that can change things. There is nothing that would be sweeter than waking up one morning and finding out GPL has had or is being purchased and seeing the S/P up 1, 2, or 3 dollars. It's happened to a number of other miners I've traded or followed and it is expected to increase this year as the metal prices continue to climb and larger companies look to expand and grow the source of their resources. I hope for it, but I don't hold my breath.
Archer would like another mine close for economy of scale.
But in times like these with present volatility large cap
miners are having enough problems with M & A.
PAAS for example. SLW another.
2011 profits have to be growing for GPL. What if instead of buying they get bought?
Do you really think consolidation is up to the level it
should be in this sector?
I do not. but anything can happen.
OIL : If oil keeps going up, and I hope it does, Gold and Silver historically follow.
WAR Premium: When Isreal strikes Irans nuclear sites, Gold, Silver, and Oil will skyrocket.
The wildcard here is will these STOCKS follow the Overall Market down or take off ? My guess is there's an initial drop with the broader markets, then they take off.
The DOLLAR: If the dollar keeps going down, as it has been of late, that's good for silver and gold.
TECHINCIALS: Silvers at a five month high and it's resistance is $37.50, if silver can break above that, silver could run, right now I'm looking at Silver trading at $37.22, so we'll see what happens there.
TECHINICALS: GPL is at resistance here and we've all seen this show before. GPL runs to this very resistance point, everyone gets excited, and what happens, GPL pullbacks. So folks may just sell it all here and the buy it back on the pullback.( wildcard )
MGT. LOOKING TO BUY ANOTHER MINE: That's a ticking timebomb that will tank this stock overnight.
I sold half my PEIX at $1.62 and I'm looking to reload.
There's a Business Strategy meeting today with some BIG money folks, so we'll see what comes out of that.
It may go up from here, but if not, and it heads down to close that gap around $1.12,
let it settle and find it's base, then BUY IT, PEIX will rise again.
Price target is $3.00 minimum.
Well if you go to Net Dania and look at silver monthly and weekly we are setting up for a very large Inverse H & S with the left neckline being at the 43.00 level left shoulder down in the 32.30 -33.30 range, head at our DB 26 level need to form a right neckline maybe in the 39 -40 range which would take us back down to form a RS in the 32.30 - 33.30 range. If that occurs, depending on where our left Neckline forms and breakout the target would be somewhere up close to the 50 or just above top. That said we are a long way away from that pattern potentially playing out.
GPL on the other hand is at a key breakout point on a couple of levels. A previous double top at 2.80 and a neckline on a possible weekly Inverse H & S. That breakout point was at or about the 2.76 - 2.78 level. We broke through that level 3 times today and each time it was on good volume. Volume today was 2M which is the highest since Dec 12 2011 and that volume was on a red candle. If silver can remain strong and fight off the forces of evil overnight and get further buying/short covering tomorrow we could get a further pop to the 2.90 - 3.00 level where I would then expect a pullback to retest that neckline. If that happens I will be a buyer back down in the 2.70 level. The trend in GPL has definitely changed to up as we have seen higher highs and higher lows since coming off our low of 1.78 in December.
The GDX broke through it's upper long tern D/T line and a Symmetrical Triangle on 12/23/12 on increased volume and has come back down tested that line as support yesterday and today and held support rallying off of it today on good volume.
The GDXJ on the other hand has been held fast at it's D/T line in around 29.20 - 29.50. It needs to breakout through that level. Hopefully in the next day or two if, as I said, longs can fight of the forces of darkness in the metals. It's volume wasn't as strong today either.
Overall though things are looking bullish. But I have learned to never get my hopes up as long as JP Morgue holds the concentrated shorts they do in silver.
nice analysis Robo....tks. I agree 100 percent.
I know, those friggin manipulators....you never know when theyll pounce. I think we'll move though, everybody's preoccupied right now on why the sp500 is making the moves it is and why it hasnt pulled backed a long time ago. hahaaa....love it. All I have to say.....DONT FIGHT THE FED!!