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ENDEAVOUR SILVER: Chart Interpretation and BUYING
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posted by Joseph E Fasciani
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Good morning from Canada!
Here's an important confirmation of what I've been tracking in Endeavour Silver:
http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=CA:%20CGP&freq=1&compidx=aaaaa%3A0&comp=&ma=1&maval=200&uf=8&lf=1&type=4&time=8&style=320&startdate=&enddate=&size=3&lf2=0&lf3=0
We accumulated shares over the last several months on fallbacks in price.
The price has now passed the 200 DMA, and is clearly recovering from the inverted H&S formation of June-July doldrums.
We are ready for a doubling of share price before C'mas 2006, and were agrressive buyers this morning. An easy two bagger, for sure, maybe three.
Merry Christmas in September, and all best always, J
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UPDATE on CARDERO & ENDEAVOUR
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posted by Joseph E Fasciani
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Gadzooks, WHAT A FEW WEEKS CAN DO!!
Cardero took off in November, posting gap ups on the 07 and 23, so we looked forward to some nice moves up. We didn't expect to see quite so strong a rally, but we're glad for it.
Overall, my daughter's shares posted a US$ 6,046.00 profit, but we're NOT selling. I made $800.00, as I only have 400 shares at this time. Cardero is a "Buy & Hold" for sure, as is Endeavour. By the bye, Endeavour made her a tidy US$ 1,244.00,just in the last week!
We sold 300 more Goldcorps, as I feel the price is toppy, and got 21.70. They fell later in the day. SGGDX continues to be the best gold fund in the world, our shares are now up 652% [NOT a typo] in the last three years, and it has made her more than US$ 20,000.00. Again, we sold some SGGDX to take profits to buy more Endeavour and other miner/explorers, but we're NOT selling any more until it sails past US $50.00/unit. She bought Hecla silver w/o telling me, and now is painfully recovering. We will dump the HL as soon as we break even, and use the funds to buy more Endeavour. I expect Endeavour to at least double in 2006. All best from Sidney, BC, CANADA.
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THE CHRISTMAS RALLY and BEYOND
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posted by Joseph E Fasciani
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Well, it's been quite a month. we took profits and ploughed them into more shares of ENDEAVOUR SILVER and PAX WORLD FUND. My daughter's SGGDX is up more than 630% in the past 3 years, and we retain half the original amount: these are "free" after profit-taking. There's a LOT of upside to SGGDX remaining, and we won't sell the rest until the price goes over $50.00.
TIMING: unload profitable trades into the C'mas rally; sell only enough to get back your principal. I expect the next BIG LEG UP to arrive as early as April 2006, when you can sell a bit more. In any event, this is the time in which you recover from losses, and look ahead to once-in-a-lifetime windfalls.
Good investing, and all best from Canada!
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RE: Chart interpretation and selling
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posted by wilwalwel
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Joseph I am interested in Canadian mining and energy companies but have trouble getting current info on them.I have shares in Admiral Bay Resources ADB.V.Have you ever looked at them?Do you have an opinion?
I also have FR.V.
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On charting, fundamentals, and we mere mortals
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posted by Joseph E Fasciani
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I very much enjoy this Forum, although I am able to communicate only in Canadian English. I do not know French, but have some ability ot read and write in German. So please bear with me!
I follow only a very few advisors, but I read a great many. One of the best--although more obscure than most--is the truly legendary Franklin Sanders. You can contact him and get his free daily posring at moneychanger@compuserve.com
Don't let his casual, 'folksy' ways fool you: he is a well-trained classical scholar, reads and writes many languages, and is a formidable technical analyst. His commenst are pithy and always spot on. Here's one from today's email: "GOLD bravely climbed over 440 this week, but could not hold on. All this
trading between 418 and 440 (even 456) resembles static on your radio. It's loud,
it makes you writhe, but it doesn't mean anything. Gold next week must hold 432-
430, or fall back toward lower support."
It doesn't get much more clear than that. I believe you will profit handsomely by following his email counsel, which is free of charge. His income is from farming and physical gold and silver [G&S] sales.
Finally, I forgot to mention that when I took profits in selling Goldcorp very near its recent top, I also doubled my stake in ATHLONE ENERGY RESOURCES, as the price of oil and gold are linked, and this is the only Canadian oil and gas [O&G] stock I can afford. In the time since then it has risen forty percent, but has a long way up to go yet, and is undervalued and overlooked.
All best, Joseph, 62, near Sidney, BC.
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RE: Kern
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posted by Timo
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I agree Kern sounds like chicken, but he admits to that himself too. And aren?t we all at least a little bit nervous, when investing. Kern just writes what he is feeling; others edit their feelings, fears etc. out from their investment newsletters.
I have only followed him for a short time, and so far he has been pretty much on the money. I was just thinking maybe someone on this board had followed him longer. And I also can see that gold and HUI are ready for a dip, at least a small one, and that?s why his latest newsletter in which he says that this is the buying opportunity of a ??lifetime?? seems odd. But he just might be right, often there is a retest of the ??bottom?? before a major advance.
I also sold my GG, about 2 weeks ago, ( a little early).
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RE: Jeff Kern and his SKI system
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posted by Joseph E Fasciani
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I am 62, and wrote the Canadian Commodities Broker exam in 1987, as my commodities broker thought enough of me that he wanted me to join his new office. Since then I've made a lot of money for others, but privately, as I prefer to work in my life-long field of landscape design/build.
I do manage my daughter's investments for her. As you all know, I thought Goldcorp was making a H & S formation, so I took profits for her and re-invested in Athlone Energy, Cardero Resources, and Endeavour Silver. So I have not abandoned precious metals, just redirected my focus.
Yesterday Athlone was up 10.4 percent. Neither gold nor Goldcorp was up. GG was down 2.3, at 21.03, six cents less than I sold my shares at last week. I took my profits and doubled my stake in Athlone and Cardero, as well as bought a new block of Endeavour, all of which were lagging the market.
As Amschel Rothschild replied when asked the secret of his fortune, "I was buying when others were selling." Apart from the fact that he also stole funds entrusted to him, this is a goal and tactic to make part of one's market discipline.
Often when I read Kern he sounds like a whining miser, wringing his hands in conflicted emotions as to what he should do. I don't think such emotional anxiety is useful for insights or as part of one's discipline. Others here have shown much more clarity and discipline in practice.
All best, Joseph, near Sidney, BC
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RE: Chart interpretation and selling
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posted by Timo
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What do (any of) you think or know about SKI? He is saying that we are on major bull leg right now! He in on 321gold.com site.
SKI BUY Update
8/14/05
The gold stocks fell perfectly last Monday and Tuesday (for the
expected 4-day run down) into the SKI MASTER BUY SIGNAL signaling the
possibility of a truly impulsive and lengthy rise over the next many
months to years. The signal was executed at USERX (the gold mutual
fund) 8.07. I had recommended waiting one day to insure that the gold
stocks wouldn't continue falling. Therefore last Wednesday was clearly
buy day at USERX 8.21. The subsequent and instantaneous explosion
confirmed the buy signal to the nnnth degree: If you still are not
fully invested (whatever "fully" is to you) I strongly recommend
completing your buying instantly, as soon as possible. I almost always
recommend waiting for pullbacks after a sharp rise. I dare to say that
this time is different because we are on the greatest buy signal that my
system can generate, the one that I've talked about for years. cont....
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RE: Chart interpretation and selling
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posted by admin
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We have also liquidated some of our GG positions (http://www.hopeahelmi.com/20050805.htm). We still hold some derivatives and a base stock position in GG. Cardero looks undervalued to me too. As noted in our latest article, I think we are bound to have a correction in gold rather soon after this strong rally. http://www.kultakeskus.com/20050813_gold_usdx_silver.htm
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Chart interpretation and selling
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posted by Joseph E Fasciani
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I sold my Goldcorps shares recently at 21.09, and took the profits and bought Cardero Resources and Endeavour Silver instead.
My reasoning was that I saw Goldcorp's chart as forming a head in a H & S formation, and if I lost discipline and did not take profits before the coming decline, I'd be going against my own advice to others in the same position.
So I cashed out with a reasonable profit, waitied a few days, then bought a new position in Endeavour and doubled my holding in Cardero, both of which are undervalued junior miners.
Only time will tell how good a move this was, but so far I have preserved profits and perhaps taken a position that has proportionally more upside potential than Goldcorps, although G is one of the finest gold operations in the world, and the best Canadian one.
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