Big Sell Off Today
Feb.4/10
Everything got smacked down hard today. Gold off $50, silver over $1, the Dow down 260 and the TSX down about the same. Nothing was left unscathed it seems except the US buck. That was up only 1/2 cent at best today. Our BMO Junior Gold Index ETF ZJG-T was well off today making a new low.
Any bargains out there? Personally one should maybe wait till next week to see how things play out over the weekend. We only have 1 trading day left this week and it most likely will be a continuation of the same as we had today.
Although most of our watched plays were down, Avanti Mining AVT was up 15% today on fair volume also. That was the only one that we follow that was up.
Well let's see what tomorrow brings.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
Buying Silver Eagles & Silver Snowball
Feb.3/10
A lot of people write in asking about what the Silver Snowball program is that they see on this site. To make a long story short I'll write a bit here about it.
The Silver Snowball program was started a bit over 2 years ago by a fellow by the name of Ed Freeman. (He still runs the program himself) He wanted to make a way for the average person to be able to accumulate silver in the physical form. He also wanted to make it affordable and still be profitable. So what he did was set up a program like an MLM where you become a member and buys 1 ounce of silver per month. (This is where the silver eagles come in). Then you after you join you tell others and once they join and buy a coin each month you get rewarded with bonus coins. Basically it is a 2 for 1 system. Each month your members buy you get a bonus. If you have 2 people you sponsor and each person buys 1 coin you get a bonus coin.
I of course have always like to add to my collection of silver so this became a disiplined way to accumulate silver. Trading stocks I found that I would pay out 40 dollars in commissions with just a few trades so the cost of a membership seemed quite small at the time. Each month I would buy my 1 once and after a while others joined and I was rewarded with free bonus silver.
Of course it seems that where you look these days in regards to the internet you see nothing but scams. Pay and get nothing seems to be the theme of the day. I get this all the time over at junior miners even from people wanting to place ads for their claims. Some are scared of paying out even $20 for an ad that they think will not get posted.
The point I wish to make is that as of last month it will have been 2 years and I am still in the program and I am still getting free bonus silver. Yes I have seen a lot of people join and a lot of people leave, but all in all most people do manage to get a few others to join and find out that they too are getting bonus silver each and every month.
So if you are interested in an MLM program that involves silver bullion or feel that you would would like to get a bit of silver on a monthly basis, then you are most welcome to join up with the rest of us.
In other news today Silvermex SMR which we follow close announced a private placement of $6,300,000. This placement consists of 14,000,000 Units at a price of $0.45 per Unit. Each Unit consists of one common share and one non-transferable share purchase warrant. Each Warrant will entitle the holder to purchase one additional common share of Silvermex at a price of $0.65 for a period of 24 months from the date of closing.
Interesting video on gold here. Sign in and see the SUPER GOLD CYCLE.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
New Month
Feb.2/10
Gold is performing well today. 2 days in a row. Great way to start the month off. Most penny mining stocks though are quite sluggish. Low trading volumes and narrow spreads are sure signs that major dollars are sitting on the side.
The new BMO Junior Gold Index ETF ZJG-T although showed good signs that money is starting to flow into the larger juniors as you can see in the chart below. Notice volumes were off today.
Of interest, one of the gas plays we mentioned on this site about year or so ago in now getting into the gold business. Trivello TRV had a news release that they have acquired the historic Tom Gold Mine and related claims, located approximately 10 km northeast of Yellowknife, NWT. The stock was up about 25% on about 300,000 shares. I do believe that Trivello rolled back stock about a year ago as they only have around 13 million shares.
Our little silver miner Golden Goliath GNG also had new out. Gold grades averaging 2.07 grams per tonne (g/t) and 98.61 g/t silver over 151 metres in the newly opened Los Hilos tunnel within the Filo de Oro trend. The news little to the stock price.
Interesting video on gold here. Sign in and see the SUPER GOLD CYCLE.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
HEADS UP! Thin Air.
Jan.28/10
NASDAQ crosses important trend line
Just a short 8 minute video here for everyone that we feel is very important to warn you as a HEADS UP situation. The Nasdaq has just crossed an important trend line. This COULD spell out some questions for the market in general here and how it could even effect small penny mining stocks.
Click Here to watch and get an understanding of where we may be heading. This is just one free feature that we use to gain an understanding of trading here at pennyminingstocks and recommend to our readers.
New Canadian Junior Gold ETF
Jan.27/10
January 25 saw the first trading of a new junior gold mining ETF in Canada. This ETF is strictly comprised of Canadian listed companies. It's called the BMO Junior Gold Index ETF and it's ticker is ZJG-T. It is issued by BMO. Prices right now after a few days of trading are in the $13 range. On an added note there is only about 400,000 shares/units outstanding. Good way to play the junior gold sector instead of trying to pick a specific winner or potential winner :)
Market selloff in metals have left some of our watched stocks in the red. Actually all of them except TNX. Canaco CAN was off 14% even after good news today. Most others just languished with low volumes.
Tanzanian Royalty TNX-T ended the flat today. After a sharp run up last week of 20% the stock fell back mid-way this week. News was released about some Chinese companies optioning in on TNX vast nickel deposits in Tanzania.
“Advanced Applications of Candlestick Charting,”
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If you would then I would like you to watch and listen to this video that explains the importance of using this strategy. In the video it says, in part, “Candlestick patterns are a mathematical formula which illustrate the psychological market sentiment. In other words, as a market reverses, or a market is moving in an up-trend, there are certain traits that can be distilled in terms of mathematical formulas that will reveal some very important information.”
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Click Here to watch and start learning today. This is just one free feature that we use to gain an understanding of trading here at pennyminingstocks.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
TRADE TRIANGLES ... TREND TRIANGLES
Yesterday I mentioned about the use of trading triangles, trend triangles and how the triangle gave an indicator and we ended up buying back into Tanzanian Royalty T-TNX. By the end of the trading secession the stock finished up 10% on the day. We got a few responses asking what trading triangles are. Because we are just traders and not tech savvy people we are going to use INO video to demonstrate.
The video here uses the S&P 500 and what we think it is going to do in 2010. It will also be looking at an important Trade Triangle that has just flashed an important signal for this index.
Take a peek for your self.
Watch The Video Now
Every Picture Tells A Story
Jan.22/10
This week was sure a downer for metals. I see silver was even under the $17 mark. Most everything we follow was well off. All commodities were off across the board. We had been reading rumors of a correction of some kind but like always we never seem to cash out and sit on the side.
We have started using trend triangles for technical analysis by INO. After doing technicals on various stocks we decided it was time to buy back into Tanzanian Royalty T-TNX. Hey, this worked. Sure enough TNX rallied today to close up 10%. Up 41 cents. This is a gold royalty play that has been beat down real bad and today when the entire market was off, this one was hot. For the past 6 or so months we have been flipping 30% swings with First Majestic T-FR warrants so we are going to try the trend triangles with this stock to help us with our timing a bit more. We'll keep everyone posted on how things turn out.
With this sell off like any sell off in the markets weak hands get shook out and bargains are waiting to be had. Prophesy Resource PCY fell back 18% back down to the 40 cent level.
We are also going to be adding Hawthorn Gold HGC and Silvermex SMR to our hot stock watch list. SMR has 2 bucks by mid summer written on it if the world doesn't come to an end. This is play that deserves some serious DD. They have some pretty top notch people in place here.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
Mid Week News
Jan.19/10
Huge dump on gold and other metals today. Some figure the price of gold will drop back down below the $1000 level and stay there until the later part of 2010 maybe. We always question where these comments come from in the first place. Lots of times you see some anal analyst tell everyone that stock XXX is over valued and should be this or that. After a brief sell off the stock is up flying higher than it was before any comments were made in the first place. You know damn well that someone was buying.
Anyhow for the stocks we are watching most are down a few percentage points. Terrane Metals TRX continues to sell off although ended the day flat. Tagged the $1.04 mark today. This stock is well of it's high of $1.80 just a few weeks ago. Any more hoe hum days and this could very well be under the $1.00 mark. For the next big mine to be built in BC there will be a good cheap shares to be had if the stock does drop much below a dollar.
Canaco CAN stick in the mid .60's and Canasia CAJ is still in the teens. Silvermex SMR is back down a from it's highs also.
Got an email from a reader about a small heavy oil play. I really haven't looked to close so do your own DD on this one. Western Plains Petroleum WPP is the company. They are active in the Lloydminster area. Trading looks thin so be aware of that. Also there is a small float. Only 26 million shares out. Oil prices will turn around. That's almost a given.
Speaking of oil, we mentioned here back before XMas about another player that has gold, uranium and diamond properties and is looking to diversify into heavy oils. That company is Tanqueray Resources TQY. The stock is starting to stir and in-fact today hit a new high. Volume is also way over normal so something must be happening. There are not to many active plays under 10 cents these days anymore.
Speaking of new high Prophesy Resource PCY also tagged a new high. This is one of our hot moly stocks.
As always, please read our disclaimer and do Due Diligence.
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
?? Bear Market In Metals ??
Jan.15/10
Most metals have sold off over the last few days. All except palladium. Gold is being carried down from noise out of China who says gold is over priced and they are not interested in buying. Remember, "He who has the gold, makes the rules." I think they may just be calling bluff to get the prices down to a more comfortable level.
Anyhow when it comes to bear market conditions and how to best invest, we figured our new high tech method posted below will help you to make wise investment decisions in regards to metals and penny mining stocks. This is strictly assest allocation.
Stocks we follow this week did the average yawn. Terrane Metals TRX just drug it's butt around aimlessly getting pushed and shoved at whim. Canaco CAN of course rallied well on news and Silvermex SMR was up almost 20% today at one point. Hitting a new high to boot!
We have mentioned Baffinland Iron Mines BIM-T a few times over the years. They have a HUGE deposit in Nunavut that they would like to get on stream some day. Only issue right now is money. What's interesting is that today on CBC news there was a write up about iron ore and China. This is the type of news that works wonders for these projects. Baffinland also has warrants that just came out a while ago. Ticker is BIM.WT.A
Until next time
Watch those pennies and why not take advantage of our "Online Trading Course" compliments of INO.
Mid Week News
Jan.12/10
This weeks metals trading video.
Gold, Silver, Platinum…W.T.F.?
I’m sure many of you read that title and your mind went in the gutter, but today I’m going to show you a whole new meaning for this acronym and how it applies to gold, silver, and platinum.
These three markets have a lot of volume, government implications, and technicals lining up for potentially great trades. Gold makes a record high, then pulls back. Silver is inching towards an all-time high level and platinum is making people rethink their decision to go with a white gold wedding band.
Where do you stand in these markets and maybe more importantly, where should you stand?
Click here to find out what W.T.F. really stands for and what does it have to do with gold, silver, and platinum?
In other news, last week a lot of people were expecting some good juicy news of some kind to be coming from Goldcorp G-T in regards to their option and more cash with Terrane Metals TRX. Well that didn't happen as a lot were hoping and so down goes the stock price. Today however even on a gold down day, the stock was holding up very well.
Canaco CAN put out news. Good results from their property in Tanzania. Stock price up real nice. Hit a new high today infact. Something must be simmering on the back burner here in Tanzania because even over the last few trading sessions Tanzanian Royalty TNX-T has been trading a lot higher and way over on volume. Even today with gold off as much as it is the stock is only off a few percent.
New miner here. Novus Gold nov. Novus has properties in the NWT and the Dominican Republic. Just over 30 million shares. You can find out more off their web site here.
Until next time
Watch those pennies, take advantage of our "Free Online Trading Course" and check out that mining stock ebook!!
Welcome To 2010. A New Decade Of ??
Jan.7/10
We don't really know what to think of the year so far. After the holidays trading is back to normal. One day up, next day down. Some stocks are gaining well though and they are not gold or silver stocks. Avanti Mining AVT which is one of our moly stocks is doing quite well this week. The chart below tells the story for the last few days.
Following the new index the GDXJ you can see a good turn around in those stocks that make up that index.
Terrane Metals TRX which we have been following since June is sure in sell off mode. Goldcorp is suppose to buy them out or invest more or make a decision or or or??? Anyhow the longs in this play are getting tired. Short term the stock may have sold off but because this player has the goods the long term out look is blue skies and sunny.
One of our favorite stocks here for the last few years has been Breakwater Resources BWR-T and it too has been on a tear.
Until next time
Watch those pennies, take advantage of our "Free Online Trading Course" and check out that mining stock ebook!!
End Of Year Review
Dec.29/09
Looking back over the year we had some winners and we had some that ..... well .... just didn't perform the way we would have liked.
Some of our better picks that were on the hot stock list are as follows. Most plays are up 1-200% year over year. Terrane Metals was put on watch back in June at 22 cents. This play still has a lot of room to run in our opinion.
Terrane Metals TRX
Silvermex SMR
Silverquest SQI
Breakwater Resources BWR-T
Canaco CAN
Our predictions for the new year are as follows.
Gold will continue to climb. We see $1,800 US this time next year. Silver prices should be double at around $40.00 US per ounce. Copper will be around $4.00 per pound. Oil prices will be ?? who knows!
Have a happy new year
Until next time
Watch those pennies, take advantage of our "Free Online Trading Course" and check out that mining stock ebook!!
