GOLD: Gold moved to historic all time highs last night, breaking through old highs to close above $1040 level with no resistance in sight.
Big cap gold stocks will rise, and the right pennies will run hard. IMO, start trying to take your positionw now the in the right goldie, as i only think more and more money is going to be piling into the metal driving prices further and further north.
Personally, i'd say look for the one's that have not run and that are as close to the chart bottom as possible. Ie, i'd stay away from those that have risen recently and that are close to the highs. Look for the next round of moves! The game is to then go and find them?
Short Covering: Again, should be lots of short covering and short squeezing in first hour of trade. A number of funds have been shorting our market this week to lock in positions & profits and to speculate on further falls that havent yet come. They will be sqeezed hard early trade. Miners and gold stocks should fly.
A number of stocks will do lots of volume. Usual suspects. Good luck if trading.
ATN: One gold penny i like is ATN: Ashburton Minerals. Its a tiny spec. SP is at 2.1/2.3cents. Has lots of cash backing and prominent identities behind it. Phill Crabb (of PDN, UMC, ROY, THX fame) is Chairman and largest shareholder. He took a placement at 5cents last year. You can buy in at half his placement. He has tens of millions of shares. Is largest shareholder by far. He doesnt lose. Great buying below 5cents. Currently drilling at "high impact Mt Webb Copper and Gold" target. Two commodities in favour and getting all the attention. Why buy THX after a huge run when you can buy ATN who are awaiting drill results before its even moved.
Lots of others i could mention, but key theme would be gold. There is no resistance at these levels
Regards, followme
Its one to watch with very low risk at these levels.
