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Goombarh 10, Dec 1, 2010
Good Day,
The markets are looking buoyant today.
Gold is up and off to the races: Gold @ $1386 and Silver @ $28.40 as I type.
Did you watch the antics this morning on ATAC Resources. Here is my take on what happened:
A group of traders executed a take down to hit the stop losses and get shares on the cheap, since they knew the big boys would be coming to bring the prices back up. They executed this perfectly taking the price down $2+ and shook out a lot of investors hitting their stop losses. Then they will distribute them through the next few days for some serious gains. They do not care to hold stock as they are traders only.
I expect the serious buyers to start buying mid-morning just about now, and I can see the prices coming back up.
I haven't listened to the conference call, yet, but understand that these guys are serious geos and will not commit to anything until proven. This means that claims of Carlin trend are pretty well proven and bodes well for the longer term. As I remarked to a reader, this of all my stocks, I would consider as the best long term hold. WHY?.....I trust the management to consider shareholders and the potential of the land they have is huge. Not just 1 mine, but think maybe 10 mines as they prove up further potentials.
Almaden, just keeps climbing. They have more holes 7, 8, 9 coming. I expect the best ones 10, and 11 will come mid January and will blow everyone's socks off, if they find the dense rich grades.
Vitoria Gold is inching back up.
A new and very prospective company for your consideration, Caerus Resouces (CA.v CAEUF), they have optioned some old gold mines in Columbia. This is not my usual find through searching but a tip, from a colleague. There are some legal concerns about specific property ownerships, but the indications are that the stock is moving. Here is their website for your own DD:
Therefore, I can not say, that this is a longer term hold at all, but maybe a trader to catch some of the move.
I believe the Seasonal Rush is now upon us, as the year end sales are drying up and funds now positioning for the new year.
Also, note that Silvermex SLX, has just completed their financing (in 2 days - quick), so the lid on prices is now off.
Regards,
Marco G.
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Goombarh Notes # 7, sent Nov 26th, 2010
Good Day,
Well, another one of them unsettled days in the markets this morning.
Jeb Handweger, one of the tech analysts that I look at is calling for Gold to drop if the dollar strength continues:
http://www.kitco.com/ind/Handwerger/nov242010.html
I think the Euro crisis is pretty well settled and that means the recent flight to USD will now abate. I wish more tech traders look at the world macro pictures more often, but I suppose that is a trait that has to be developed. Most tech traders only rely on charts, and the charts really do not more than indicate what has already happened.
My thoughts are that macro trends and world events are more important than charts. The events are fundamental drivers of the markets, whereas the charts only give short term technicals. Understanding the macro picture helps you sleep at night. Looking at the charts serve to reinforce the macro picture and helps tactics in trading.
So, my outlook forward shows no signs of change. A glance at Shanghai charts shows it was up overnight. Unfortunately, the mainstream media such as Bloomberg do not show the Shanghai, and concentrate on Japan, Hong Kong and Singapore, the older traditional indicators, and their headline says " Asia Stocks, Won Drops as North Korea Warns of War; Euro Drops on Debt Risk" seems they might be backwards looking as opposed to forwards looking needed by investors.
Don't you think that China, more than other countries would know about Korea's intentions?
http://noir.bloomberg.com/?b=0
The above is my editorial for this week.
Specifics about Stocks.
Great Basin has pulled back due to the OHSUA, putting them on safety violations watch. Look at this as a buying opportunity for the most safe stock, that I can find on the market recently.
Almaden Minerals (AAU, AMM.to), 2nd press release indicates the target has grown larger. But we already knew that; in understanding that their discovery is shaped like a funnel. Of course the lower grades and wider areas are at the top of funnel. Let the others look for deposit expansion. We are looking for the high grades! It will take some time and more holes to find the source, ie: the base of the funnel, which should be of very high grades.
Note that I am more aggressive and raunchier in these informal notes; that is the name of the game; quick and dirty!
Disclosure: I have sold some Darnley bay at a loss to take advantage of other opps. I still hold a core position for spring.
Another Yukon play, that I have taken a position in is ATAC Resources (ATADF, ATC.v). Their last release indicates that they may have found a huge trend similar to Carlin in Nevada. They have 3 hits in 3 separate unrelated zones on their huge trend, that they have locked up with claims. I have met and spoken to Graham Downes their CEO. He strikes me as a very straight up kind of guy, with ambition and ethics. I mentioned the possibility of private placement, and he indicates not at this time. What this tells me is that he expects a lot higher than now @ $8.00. Note that drill holes releases are due in next few days or weeks. So, this is another potential monster stock.
Victoria Gold (VITFF, VIT.v)is still churning around a dollar. I expect a move up with Gold. I also expect a take out offer from either Kinross(KGC) (who hold 20%) or Newmont (NEM).
That's it for today.
Marco G.
======================================================================Goombarh Flash #3, Sent November 29, 2010
Good Morning again,
Just did more puzzling over their drill language on Almaden's Web site:
Read their section on epithermal gold deposits. This explains what this Ixtaca prospect is.
They just finished hole assays for #6.
Pending are assays for holes #7, 8, 9 which are guiding their search for base of funnel.
Holes #10, and #11 are presently underway.
The way I interpret this is that 7, 8 and 9 holes gave them more info about where base may be. These holes may not be very good results.
Holes #10 and #11 are collared at the same location with slightly different dips and have a good chance of long hits and high grades of being very close to base of funnel; see their alignment on their drill plan.
Therefore, I am buying more AAU, AMM.to
Marco G.
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