Gold has encountered some resistance at $1,800 as expected and could test the $1,750-$1,775 area which would be very healthy from a technical standpoint…Gold hit a fresh six-week high yesterday when it touched $1,799.90…though it may require a brief pause, Gold’s bullish trend of course remains firmly intact…as of 8:30 am Pacific, the yellow metal is down $2 an ounce at $1,794…Silver is off 23 cents at $34.75…Copper is down 3 pennies at $3.52 while Crude Oil is up another 79 cents a barrel to $96.31…Crude has advanced for five consecutive weeks…seasonal fundamentals, reduced inventories, demand from China, the potential for political unrest in the Middle East, and new concerns regarding Iran’s nuclear program are all factors helping the oil market at the moment…the U.S. Dollar Index is down one-fifth of a point to 76.86…
The market is watching political events in Italy closely…Silvio Berlusconi’s centre-right government has lost its majority in parliament this morning in a key vote on last year’s accounts that came after mounting concern in bond markets piled pressure on the embattled prime minister by pushing borrowing costs to fresh euro-era highs…Pierluigi Bersani, leader of the main opposition Democratic party, urged Berlusconi to resign, warning that Italy risked losing access to the financial markets…Italy is likely in for months of instability and must come to grips with its huge debt and fix other problems plaguing its economy…the euro zone is going to continue to be in the crosshairs of the market for some time to come and that’s going to contribute to a lot of volatility…
The CDNX has pared its early 13-point gain (it hit 1675) and is now up just 3 points at 1665 with the nine most active stocks through the first two hours of trading all posting gains…the Index, which faces stiff resistance at 1700, has climbed a whopping 27% since the 1306 October 4 low (25 trading sessions), though the move has not been broad-based and volume has been unimpressive…that’s why this is so different from previous sharp advances during 2009 and 2010…investors have to be careful and extremely selective even though Gold appears headed for a new all-time high by early 2012…
Great Panther Silver (GPR, TSX) is up 4 cents as of 8:30 am Pacific morning to $2.90 with resistance at $3.25…the company will be releasing its Q3 financial results next Monday…given John’s very bullish long-term outlook for Silver (an updated Silver chart was posted yesterday), the potential for this producer in the year ahead is certainly significant as John’s GPR chart below shows…
gbb waking up, high volume. News finally?
Comment by mike — November 8, 2011 @ 8:48 am
ok gang, my next pick is ready. CJC – Do your dd, GMA is the other company in this area. Should start to see a new uptrend start from here. Assays between Nov. 15 and Nov. 30. CEV took off right away when I hollared. CJC you still have time to pick a buy point, but not to much time. CJC could be much bigger than GMA and we could see many multiples from here.
Comment by dave — November 8, 2011 @ 8:52 am
Andrew
The calculated resis and support level for GBB are as follows:
Support…..15c and 18c
Resis……..24c, 27c and 33c.
A chart will come later.
Comment by John - BMR — November 8, 2011 @ 9:18 am
CJC – bids just started building, if anyone wants in and you do your dd soon and get in below .40, you should see multiples coming very soon.
Comment by dave — November 8, 2011 @ 9:28 am
Dave, what’s your selling target on CJC?
I was looking at the CJC chart yesterday. It was starting to make a run this week.
Comment by Bruce — November 8, 2011 @ 9:38 am
Thank you, John – much appreciated!
Comment by Andrew — November 8, 2011 @ 9:51 am
CJC – my selling target minimum is $1.50. This price target will be reached with them matching GMA’s nibium which should be accomplished. However, we belive they are hitting heavy REE’s at this time which is the more expensive metals. If we are lucky and they hit the heavy REE’s like GMA did not, then $ 3 to $5 easily. They have 20 mil out fully diluted. Market cap right now around 7 mil. Thier entire exploration prgram has been delayed since June but it was for a REASON. I could have mentioned this company back in the summer when it was trading near .50 and you would be beating me up. The time is near. Big players with big money are ready to pounce.
Comment by dave — November 8, 2011 @ 9:54 am
I should also point out that cjc’s bottom was .27, and it hit that level for only 3 trades. Through all the delays and market turmiol. During the month of October, they trid thier da$nest to get cjc back down to .27 for a double bottom, watching level 2 daily, I myself thought it would happen. It didn’t. She is .10 higher at this point off that bottom and it won’t last to much longer.
Comment by dave — November 8, 2011 @ 10:04 am
I am ver happy for GBB stock holders…. But I think this is a classic case of pushing therice higher ..maybe by Industriel Alliance , for a new financing around 25 cents. We could see a blitz of advertising on stockhouse and finaly announcement of the new financing.
Comment by Andre — November 8, 2011 @ 3:50 pm
Really Andre? New financing? Did you consider that it could be something else….like pending assays, market correction on GBB, closer to 43-101? It could be any one of these, just wondering why you selected new financing only. And you are happy for GBB shareholders? I see you posted a similar message on Stockhouse and it got pulled. Did you miss the boat today on GBB? Must be interested in the company as you post quite often……..negative post most of the time.
Comment by Dan — November 8, 2011 @ 5:15 pm
Dan I would be very worried that a web site is acting in this way. My post did not brake any rules on stockhouse and still was removed. how neutral is stockhouse. Don!t forget last year the other popular web site lost it license for not being neutral. They had there employees posting false positive informations on there clients that were paying publicity on there web site. Stockhouse Is playing on dangerous grounds. Now what is wrong in saying that this new volume could be a sign of a new financing. finaly Dan if you dont like people that have opinions that there are not yours …there is a great country call North Korea where you could move.
Comment by Andre — November 8, 2011 @ 5:33 pm
Still didn’t answer my question. I don’t mind people’s opinions, just curious why yours is mostly negative towards GBB thats all. Hey new financing could be the reason, but there are other potential reasons as well. Constructive feedback is healthy in any environment imo. Am I happy with the way management has handled this deposit the past 6 months…hell no, but it doesn’t change the potential here.
Comment by Dan — November 8, 2011 @ 5:42 pm
Dan I was there best cheerleader last year but since February results I did not like what I saw. Results for the rest of the year were also very disappointed. Now do you think it’s because of me the stock , even if we had bad markets, went from 92 cents to 19. Your accusing me it’s because of my negative postings this happen or….others experience investors had the same conclusion. I am also waiting for the 43-101 and hoping it’s a good one to be back and buy GBB long. But how do you make good wine with poor grapes ? Now for Castle… 2 months since the preliminary prospectus ! not concern Dan ? I predicted In April GBB needed money…People like you on stockhouse were saying no it’s impossible. Two weeks later a new financing. Now with my experiences in investing we often see volume go up and price go up before a new financing . GBB needs money and Industriel Alliance did not do well for there clients on the last financing so they got to do some ‘’ activities ‘’ to make the stock easier to sell for the next one. Plus, at 25 cents or more , lest stock dilution for GBB. Hey Dan I am here to make money also…I am just doing my best to be honest. Once again you should be concern on stockhouse neutrality.
Comment by Andre — November 8, 2011 @ 6:26 pm
OK Andy tell us what you are currently buying. You like to portray yourself as an expert and condescend to everyone, so share some of your wisdom. You have been challenged to do so several times on stockhouse, but never do, you only seem to talk about gbb, so what should I be buying tomorrow. This way we can learn from you.
Comment by mike — November 8, 2011 @ 6:50 pm
Usually, a company does financing after a positive NR. Who in the right mind would participate in the PP, especially when NI43-101 is being prepared.
I think assay results or NI43-101 is imminent.
Comment by Bruce — November 8, 2011 @ 6:51 pm
Well Mike let’s wait what is going to happen with Italy…you think Greece was a problem ? Italy has six time there debt. Still in cash but trade here and there . Gbb was a good trading stock over 30 cents. When I will be back in you will be the first to know….loll . I notice many are piss off at BMR also but I am sure they are learning and wont do the same mistakes. It’s all right to say that it’s good to be in cash and also it’s good to take profits and not hold long. I don’t know many who made money on the ventur using long positions.
Comment by Andre — November 8, 2011 @ 7:04 pm
Bruce ..Frank promise in march a 43-101 in June and had closed a new financing in May. Don’t you remember…
Comment by Andre — November 8, 2011 @ 7:08 pm
Dave, thanks for the info on CJC. I was in it briefly after you mentioned it during the summer. Some of the NRs from the company was great but it wasn’t a good time. I sold it at the first sign of the weakness.
I don’t know how to value REE companies yet. So that is why I’ve asked you for a sell target.
Comment by Bruce — November 8, 2011 @ 7:15 pm
Wow ,I am reading some of the post on this site and I can’t believe most of the post.”If you think Greece has debt problems,Italy has 6 times as much”.Are you serious?Italy also has 20 times the economy of Greece,people actually work in Italy,they produce a car,Canada doesn’t produce a car for your information.If your going to talk about the debt crisis in Europe you need to start looking at the USA.If you think there are debt problems in Europe wait till you see the USA.They only reason the financial community in the western world talks about the debt crisis in Europe,is because they want to divert away from the real problem and that is USA.
As for GBB,that story has not been fully told as yet.Let Frank put out his 43 – 101 and then let the market decide wether it should be a $.20 or a $2.00 stock,the problem with investors in the junior market is that they are in too big a hurry to make the fast buck.
The reason the stock may of went up today could possibly be that GBB will be taken over.
By the way I hold a position in GBB and VGD.
Comment by John — November 8, 2011 @ 7:42 pm
Bruce ..Canada doesn’t produce a car…. All the car industries in Ontario…they produce what …Tobacco, apples ?
Comment by Andre — November 8, 2011 @ 7:58 pm
The cars in Canada are assembled,big difference than producing.GM,Ford,Chrysler are American Car Manufacturer`s ,the last time I looked!
In your opinion I would like to know the make of the car that Canada manufactures.
Is it the Apple.
Comment by John — November 8, 2011 @ 8:07 pm
Bruce – your welcome. I also sold when the drilling delay became emminant. Assays are near. John – wonderful comment about the U.S. diverting all the attention to europe to avoid seeing the problems in the U.S. – You in my opinion are absolutely correct. Porter Stansberry has put out a book called “the end of America”, and with the news last week about the tent camps in New York and New Jersey, it does not look bright for us. (I live in U.S.)
Comment by dave — November 8, 2011 @ 8:12 pm
Magna international …one of the largest car parts supplier in the world….and are ..you guest it …Canadian. largest supplier of car parts to GM, Ford, Chrysler. 90 percents of the parts in ontario come from Magna. don t you remember Bellinda.
Comment by Andre — November 8, 2011 @ 8:39 pm
plus…over 40 percent of american car are made in ….Mexico.
Comment by Andre — November 8, 2011 @ 8:41 pm
i just check… ferrari, Llmburgini, fiat…. Lotus… Maybe 2% of world car production.
Comment by Andre — November 8, 2011 @ 8:43 pm
It now seems that Greece is a crisis of the past, so they now turn to
Italy & Romeo himself, et al, are in trouble, so we wait this one out,
as the stomach turns. R !
Comment by Bert — November 9, 2011 @ 6:46 am
GBB….why the change from Genivar to SGS at this point in time? any comments?!
Comment by M. — November 9, 2011 @ 7:33 am
@m where are you reading that genivar are gone? Lets hope so, I know frank was meeting with them last week.
Comment by Hugh — November 9, 2011 @ 7:42 am
@m Sorry I see it now.
Comment by Hugh — November 9, 2011 @ 7:44 am
They want the 43-101 and Genivar was not stepping up to the plate and delivering. Good to hear that there is a firm target on delivering the results by the 1st quarter of 2012.
Comment by Paul — November 9, 2011 @ 7:45 am
Lets hope we dont get delays as the new company picks up the baton from Genivar.
Comment by Hugh — November 9, 2011 @ 7:46 am
Dave, thanks for bringing CJC to our attention. I tried to get in yesterday but my bid didn’t take. Trying again today – just a small bid and if it works out perhaps I’ll catch it on the move. 🙂
Comment by Andrew — November 9, 2011 @ 7:55 am
CJC had a 50k bid at .35 yesterday – was it taken off or did it move up (maybe it was Hawood?)?
Comment by Andrew — November 9, 2011 @ 8:04 am
Just checked net house summaries and it does appear that Haywood moved up their single 50k bid at .35 into .36 bids. Must be bullish?
Comment by Andrew — November 9, 2011 @ 8:28 am