Big Day Coming

An early awakening saw the laptop go on at 5.45am this morning and although not a surprise to see the DOW up, the plus 2% increase at 244 points was and its still climbing as I type.

Purchase of SLR at $2.14, along with ROL are the only real trades at the moment. ROL can't seem to lift itself looks like there is a push to keep the thing down for some accumulation, it closed right on $1.90 after slipping below this critical level the previous day to a low of $1.82 and close of $1.85. My stop was almost triggered, it looked like $1,90 was providing solid support and would be the base for the next leg up this may still be the case with just a small slip below.
CHN and PSP still held no real action here.
MDL still not trading yet after a share consolidation and in specie distribution. I will receive some shares in Teranga after MDL demerges its operations. 
Looking forward to an up day my attempt to re-enter ADU did not eventuate, will be looking this morning to make some trades.

November Improving

IAU trade was positive with an exit yesterday at $1.985 it closed previously at $1.87 as soon as I sold as I expected it to meet resistance at around $1.99/2.00 it flew up to $2.13 c'est la vie. I really can't complain I netted just short of a grand. ADU 38,000 sold today at 74.5cents up 3 cents on the trade, I was a bit nervous holding over the weekend with the DOW so erratic and gold flat. ADU was at its previous high closing price and later hit 77 cents. There is a need to take profits sometimes when they are there. Will look to get back in again on weakness as I am sure this may have blue sky ahead if the DOW kicks up and gold continues seasonal.

Purchased another parcel of ROL yesterday at $1.92 trading around $1.94 today on very low volume, I am sure this will test $2.00 again.
MDL is still held it climbed back up and will now under ago a 10 to1 share consolidation before coming back on the market.
IAU will also me to purchase up to $15,000 of shares at $1.78 as I was a holder on the 22nd November when the capital rising was announced, currently IAU is $2.11 seems to good to be true that's a gain of almost $2800 if the price holds.
CHN turning out to be a dog, still held, buyers now in which may indicate it may turn.

PSP also still held believe this could be another ROL I badly need a 10 bagger.

A Month Gone Wrong

I find myself somewhat disinterested when markets decline, however one can not afford to be if a living is desired from trading.
Stocks held remain the same apart from OGC which seems to be acting unlike a gold stock, it is off approximately 25% from not long ago highs. I can't see any reason to hold this stock presently. From one of the best performers of late its turning into the opposite. The lat two trades in OGC have been losses. IAU is a different story with again some positive trades netting between 2 and 6 cents, currently back in on IAU at $1.92 Monday 22nd with the stock going into a trading halt the next morning with a capital rising at $1.77, hopefully I won't take to big a hit.
Of other stocks ADU sold at 74 cents and reentry at 71 cents this stock is holding up nicely and looks promising with a gold pour on hand shortly.
MDL looks like its in trouble and an exit is on the cards this morning.
ROL, PSP and CHN continue to hold they look long haulers.
Gold has moved back up again overnight despite the DOW losing 142 points and the US dollar strength, tensions on the Korean peninsular look to be the driver. 

The Month Of Gold

I do think we will see gold make some higher highs this month before a pullback, US$1450 is achievable in this current wave with the possibility of a 5th wave extension.
Stocks held medium term are still CHN, PSP and ROL with ROL the only positive amongst them.
Currently have entry in OGC, ADU, MDL amd again IAU all postive.
Look to exit OGC this morning performance here is disappointing and feel there are better opportunities elsewhere.
Have a target of 80 cents on ADU and $1.50 on MDL. IAU, will expect to trade in and out with 2 to 3 cent wins.
US markets all positive overnight will see us open up expect trading to remain somewhat flat with some gains in gold stocks again. It would not surprise however to see the All Ord's challenge and close slightly over 4,800, the overall direction of the market is still not clear and till we are over 5,000 I am not totally convinced that we are in a bull market despite what the great majority think.

The Week That Wasn't

It's been a very ordinary week my focus on gold stocks has seen some lost opportunities elsewhere however I still believe over the next 12 months gold stocks will provide the largest gains.
Trading has been almost non existent this week a lack of motivation and some earlier week sunshine is to blame a tan is starting to redevelop.
ROL is still ahead a sudden rise in the price of gold will see it take off. Entry into IAU at $1.735 on Tuesday is holding up, the stock has support at the $1.70 mark and closed at all time high during the week $1.78.
PSP and CHN have dropped and only a gold price increase combined with news will get these moving in the short term.
US markets currently not inspiring and could go either way very much news driven presently and so sensitive.
Correlation between XAO and DOW not so evident have no data to back this up just an observation. There have been periods when both indices have not followed the same path, it would be fine thing if the Aussie did go its own way.
Gold moving back up as I write a few early trades may be possible tomorrow morning.

Golden Week Ahead

Gold decided to retrace almost 50% of its previous leg up and fell to US$1315.50 its now trading at US$1339.50. We will see over this present week if the fifth wave has now commenced, I am suggesting that it has and with the DOW up 70 odd points this morning the All Ords will surely break 4800.
A few gold stocks have maintained good support after recent strong rises IAU has kept its head above $1.70 and looks poised to go over $2.00, ROL even with its capital raising has held onto $2.00.
I was not active in the market yesterday and have not been for a few days now.
Unfortunately I will miss this morning opening action which will see some positive gains again for those who had the ability to buy low Friday.

US$1450 Gold Soon

Looking at gold it would appear that the forty dollar pull back in the US Tuesday night has seen a forth wave complete. Its possible that the bottom of this wave was reached at US$1335 and that now a fifth wave up has commenced with a target of US$1450.

Australian gold stocks recovered somewhat today OGC is a stock that disappoints. ROL still in a trading halt, hopefully tomorrows announcement will coincide with an overnight lift in the gold price. No trades conducted today, it was a bit of a day off may have missed an opportunity to buy low guess someone has to have a life sometimes.

A Nothing Week

Well last night the DOW was down 165 points and gold fell US$40. I have been sitting on the fence a bit the last few days and exited a couple of stocks yesterday afternoon OGC and ADU, both loss makers for me, glad I did now. ALK went this morning hit my stop another loss. ROL is the only positive trade, still holding as it went into a trading halt, no doubt a capital raising but not to worried about that as only 65 million shares on issue and I can't see any real dilution of the stock with what it has down the track and some success stories in the near future hopefully.
IAU still held, the market has not really hit this one hard compared to many other gold stocks down only 1.45% for day at present while the likes of PRU is down 4.53%, SBM down 4.94%, CGX down 4.48%, NGF down 8.33% and the big boy NCM down 1.88%.
PSP, CHN still held not major capital in them, thinking about these two I can afford to tuck them away for a while till we get the next wave in gold, will post a gold chart tomorrow time with further projections.

What Happens Next

Well the week finished with the DOW down 32 points and the S & P 500 up 2points for the day. The DOW held over 11,000 points certainly a trend in place. The All Ords is still stuck on the 50% line of the whole gain of the last bull market 2003-2007. The QEv2 hopefully sees some money finding its way into US equities pushing them higher and hence where Mary (DOW) goes her little lambs will follow (XAO etc).
IAU freaked me out Friday dropping to low $1.70's which I could handle believing the stock was taking a breather, then it fell to $1.62 and back up again within two minutes (bot trading) I had no stop so my stock was held, the trade is still negative though. This stock with its huge story will certainly climb back up with its 10 million ozs of gold resource, which will certainly increase with more drilling.
OGC is just in positive territory and I expect it should make recent highs of $4.17 again. ROL gained 15 cents to $2.15 on a good volume day for this stock with it almost trading half a million shares.
ALK and ADU fell back, CHN and PSP it seems the market has forgotten them.

End Of The Week - Nervous

The IAU trade went well yesterday with an exit at the opening auction when it was bid up to $1.85. IAU then fell back during the day and closed at $1.76, re-entry was made at $1.78.

Entered ALK during the morning which now sees me holding several gold stocks.
Yesterday saw some upwards movement in OGC and ROL.
ADU has been a disappointing trade with an entry at 68 cents and 65 cents being its current price.
Consideration will be given during the day to reducing exposure to the market with the DOW being almost neutral overnight and gold reaching out towards the target I projected on this wave. Its possible this wave might extend however the DOW looks like it may may pull back too and gold might follow the DOW down.Options expiration tomorrow in the US which could see the market drop. Gold seems to change it relationships all the time, it never marries and just teases a host of partners. I feel though that if the DOW drops gold may follow it hand in hand, hence my nervousness.

Nice Day Ahead

Dow up overnight by 75 points and gold trading over US$1370 looks like a good day ahead for the Aussies market, I reckon we will be up 35 to 40 points.
Holding IAU bought before close last night at $1.78 looking to exit again at $1.84 during day. Bid in on ALK for a quick trade.
Here we go market open in 2 minutes.

Market Not Very Flash Today

Its very much follow the leader the DOW up we go up but yesterday the yanks had a day off and our indices don't know what to do today so the All Ords is down 53 points testing 4700, think this will hold and will improve through the remainder of the day.
Entry into IAU again at $1.665 partly sold at $1.69 waiting on the balance to execute.
A lot of gold and resource stocks are down today and appearing in my bottom 20 market movers % price change with a value over $2mil. IAU is the top20 movers up using the same criteria. Seems no stopping this stock at the moment.
Will spend the rest of the day checking another 20 gold stocks for potential.

No Action Yesterday

A very poor day yesterday bought into ADU and CHN 10,000 of each needless to say both went backwards by the end of the day.
ADU and CHN are both African gold miners but on different sides of that continent one Ghana and the latter Eritrea. These two are not short term trades as I fancy both companies to exceed $1.00 by the end of the year.
Other short term trades are all negative with PSP dropping 2 cents from entry to 22 cents.
OGC still been dumped at around $3.75 hopefully whoever is dumping will be depleted soon.
ROL still trading up and down mid/low $1.90's with little interest in it.
Had a bid in on IAU at $1.645 it dropped to $1.65 and traded back up so I missed it went shopping instead.
Hopefully today is a better day.

Not A Stunning Week

Picked up a little profit on IAU Thursday morning then saw it soar ahead after selling. Bought back in this morning and again took a nice profit only to see it soar again. I really can't complain as I making some money on it.
PSP is static needs some news to get it rolling but happy to sit on it.
ROL almost at my stop but not big volume in it I am sure a buy at $2.00 will get me $2.50 just some sellers taking some profits from the rise up once these are exhausted this should break through resistance at $2.00 and move up again.
OGC might have a number of sellers taking profits who may have the benefit of a capital raising issued at $3.54, just can't understand why this one is not flying.
Bought a slice of CHN after a tip from a good mate at $0.76 who has reason to believe its grossly under valued even after a good rise, expecting around $1.00 as that looks the current value of the company.
Off for weekend.
IAU chart follows.

Stunning Performance

The Rugby League Grand Final saw St George beat Eastern Suburbs 32-8 in front of a crowd of 82,000 with a stunning second half performance on Sunday 3rd October.
There was no way of stopping the metaphoric St George Dragons and its seems that there are no barriers now to stop the metaphoric POG rise.
The week has been slow with the exception of IAU so I am looking forward to a better performance in the latter part of the week and hope to emulate the St George performance in my trading.
Still sitting with OGC which closed again at $3.75, news of capital raising has nullified the recent rise in POG, if this continues to move sidewards will exit to move capital to a West African selection.
Entered back in PSP and sitting waiting.
IAU holding overnight looking to bank a profit again.

No Stopping Gold

Bought in to IAU again yesterday got out today at $1.35 on the way back down after it hit a $1.405 banked a nice profit, glad I sold when I did as it finished at $1.28.
Still holding OGC will continue to hold unless it falls below $3.70 seems to be consolidating and has support around $3.75. Still have a bid in on PSP somehow I don't I will acquire this stock at this price, however I will be patient and watch again tomorrow morning a re-entry into this might cost me one and half cents more as I really want to put a few of these aside.
Gold is still strong at US1308.80 at time of writing, some Australian gold stocks are taking a well earned breather at the moment, expecting gold to stretch its legs further.
Another trading day over.
Will investigate PIR and NMG overnight look good need further research.

Watching Gold

Managed to exit IAU at 1.19 and took a very small loss, I was not feeling comfortable holding overnight.
Watched gold fall below US$1285 and thought I have got it right so went for a couple of beers and now logged on again to see it raise over 1300.
Don't think I will get PSP again at 24 cents, intend to be active tomorrow much depneds on the DOW.
It the DOW Is not looking too flash right now with US consumer confidence down to its lowest level for seven months.
Anyway I will see in another 6 hours what holds today on the Australian markets

A Few Days Before The Crunch

Anticipating a fall in the DOW as October sets upon. So many experts out there now some claiming we are in the early phases of a bull market and others predicting we are headed for another almighty crash that will complete the bear market, hence my nervousness.
The DOW overnight was down 48 points and confidence disappeared towards the end of trading have a feeling when looking at the DOW chart that it could drop to between 9800 to 9600. Gold holding in the mid US$1290's after touching US$1300 if the DOW drops even if gold holds up reasonably well gold stocks will also be vulnerable to a fall.
Treading very carefully with selected trades, holding 20000 IAU presently which again may cost me another small loss.
Purchase of 50,000 PSP at 23.5cents was exited today at 27cents, I thought this was a good opportunity with so much uncertainty in the market. Now have a lower bid in to re-enter PSP as I do believe it could pull back.
Looking for an opportunity to exit IAU, VWAP currently 1.18 anything over this will be a good exit.

Not The Best Week

After a glorious few weeks my run came to an end and I found myself giving back some gains. I picked the continuation of gold towards US$1300 but did not pick a downturn in IAU and PRU which cost me dearly. My expectation was a surging gold price and therefore continued surging gold stocks, profit takers have no respect for gold and where its heading. Hold on is this the pot calling the kettle black hmmmm?.
Gold now again at all time high, if there are some good runners in the market today I will miss them as I take my broken wrist for yet another x-ray and check up.
No more motorbikes my preferred mode of transport now has to have 4 wheels on the ground.

Looks Like Another Good Day For Gold Stocks

Bought back in to IAU this morning looking for it to head back form low in the day $1.235 to $1.30.
Holding PSP again, the stock is bit static today just a two cent range compared to a few other days.
Missed OGC at the open as my bid was below $3.96 now $4.09, left bid at $3.87 hoping to see it pull back during the morning, not be so focussed on IAU again.
Now very bullish on gold projecting it to be well over US$1300, my interpretation and projection contained in chart.

Looks like I will be on this computer for quite a few days even weeks it could be the best ever opportunity in the gold stocks.

Wishful Thinking Gold US$1300 This Week

Continue to play in and out of IAU, small profit again on 30000. Entered back in but got caught before the close things moved too fast and some time away from the screen saw a positive go quickly to negative. Now holding IAU overnight not too concerned my interpretation of the Gold chart is continuation of the latest move up, this wave still has a long way to go. IAU is proving to be an ideal stock to trade although today was only one completed trade.
A previous entry of 50000 of PSP at 20cents was completed with a sell at 23.5cents. I had intended to hold this stock but a 17.5% increase over a few days had to be taken. Re entry is on the agenda some gaps in this on the way up that may need to filled and may present another entry.
Will look to close IAU trade before lunch as I am sure it will open higher and move over $1.20 again especially with gold still moving upwards tonight.

Nice Start To The Day

Took 30000 of IAU again at the open had a bid in at .995cents acquired at 98cents hoping to see $1.04 again just sold at $1.08 nice profit for not even 2 hours effort.
IAU was just at a high of $1.19 looks like something good on the horizon.
Have some bids in on ADU and ALD looking for some profits there too but not much range in them today.
Tad nervous re entrying IAU at these highs. Volume is quite substantial for this stock seeing we have not hit lunchtime.
Looks like today might be a play the market day, weather looks dismal, gold holding overnight and the DOW up, confidence out there seems high.

Went For A Holiday

I departed the country on 31st July for a winter break in the sun in Thailand.

Much to my surprise I found the internet available on virtually every street I could not resist what I thought were some opportunities and managed a few successful trades in ADU and IAU. Needless to say I am back in the market the rise and consolidation of gold has seen some impressive gains in several stocks.
Over the past week and today I have been trading IAU and ALK with continuous winning trades. IAU has had some good volume and has broken out of a channel that started to trend up from March when it was at 23cents to close today at $1.02, also recently hitting $1.06. The past week has seen some good pullbacks in price during the day allowing many re-entries. I have been trading it in 30,000 blocks picking up between 2 and 4 cents on each trade.
Today I exited both IAU and ALK with my re-entry bids left stranded as both stocks jumped in the afternoon.
I recently took a holding in PSP believing this could be another substantial Indonesian gold play, this will be a medium/long term hold as I see a possibility of it going possibly to $2.00.
Tomorrow is another day with gold currently looking fractionally weaker at US$1242 presently. ALD is now on my watchlist with some possibilities of some good trades.

Yikes Is This It For Gold

Almost forgot I started this blog, its been such a long time since I last posted I feared the blog might have been terminated.
Well after a run up to US$1260 gold has traded downwards for the past few weeks.
The critical support level at US$1185 gave way last night and the POG went sub US$1160 momentarily. There are a lot of gold bears/DOW bulls out there now calling the end of the golden run and its OK the worst is over for the stock market.
I just see the DOW going up and gold going down as a normal market movements in a bear equity market that is still to complete.
The world is still in a mess with overprinting of US dollars to escalate and the rotten apples of Europe to fall to the ground damaging much on the way.
Story is, right out of the market I exited last gold stock held (ADU) today not that I fear gold will collapse rather that there will be a better buying opportunity down the track.
There are still some seasonal factors to come into play in the POG although the run up to US$1260 could dispute that, gold will have its rest while the world is tricked again.
My belief in the rise of the POG has not changed but its time to get out for a while and have a rest from gold stocks.

Hard Rain Going To Fall

Its nervous times at present. The DOW seems to be the leader with all else following.
As with all bear markets they usually work in three waves down. I am sure that the first wave ended, wave "A" when we hit the low of 6470 early last year that then commenced the rally which completed when we reached 10730 this January and thus completed wave "B". I believe now we are possibly into the start of the final wave down in this bear market and could test the lows of last year, my hope is that we pull up around 8600 which is 50% retracement but there is a distinct possibility of falling through that level to 6470. This move could take the best part of the year and any recovery may not be apparent to the latter stages of the year.
Gold whilst following the DOW currently is in a different stage I believe that gold is in a bull market and is just completing the 4th wave down waiting to confirm this at US$1075. Today's move up in gold in Asian trading and London markets showed good support with a US$41 rise to US$115 in 36 hours.
Not worth posting a chart the last one still says it all on gold.