Iamgold closed at 14.46 on Thursday!!! Gee now aren't you glad I suggested you buy it at 11.30? I know I am as myself my father, my grandmother and our company all bought in. The last two days have been so hectic it's been hard to manage our accounts and update you at the same time. I think I don't need to tell you the obvious. IAG went to 14.60 high from 11.30 in two days. Yes, you should have sold. Hopefully you did. The market is starting to take notice that IAG is a $20 stock carefully disguised as a $11 stock. This morning there is a drastic pullback, as I anticipated, I believe that IAG may fall as far down as 12.50, but we will have to see. It will be a buy at the right price again.
As for GSS, needless to say my target of 2.75 has been seen and blown away. If you sold you were right to do so, however things will most likely continue up, and at such a large break out it's hard to price a buy in but I will say anything close to 2.75 is obvious.
TRE...(whew) What did I tell you? It has undeniably broken it's decline wedge formation and is headed to 4 eventually. It must first regain 3.38 and close above 3.50 before it will do so. Yes it was a long hold but even on a couple hundred shares purchased at 2.70 region will make it worth it when it hits 4. (which is highly likely it will stall at that point, but may continue. To far to foresee right now.)
As a side note, that BP I bought was one hell of a lucky deal after that "giant" oil discovery they announced 1 week later. No, I had no way to see that coming, but if anyone asks I'll say that "I'm just that good".
As for gold itself... it has been a nice run. The year long declining wedge formation was broken sending us a few dollars away from 4 digit territory. We made some money, so now what? I have a very simple answer...
IT IS NOW!!!
Gold will pull back most likely to the break out point at around 980. Everyone "knows" gold can not hold 1000 so they will pile onto selling. And they may be right... for about 5 min. Do not miss opportunities to buy in. you might lose money in the short term but in a longer sense you will not care. 1000 will come and go onward to better gold's all time high of 1036. I have no idea, (nor does anyone else for that matter) how and when this will happen, but I do know that it will. It could be 5 min or a few days or 4 weeks I don't know but the month of September WILL NOT END WITHOUT A RUN TO 1000!!! Whether it holds the first time or backs off and regains a short time later is up for grabs, but you will not want to be out of this market.
Another note... There is no way to know how high and how fast this thing will go. 1050, 1100, 1250, 1500 who knows? But trust me on this, DO NOT TRADE IT!! Just hold your positions. For this move your gonna want big producers, i like GG and IAG for this move.
18 trading days left(tops) before 4 digits is realized. Are you ready?
-J
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