1waving

One possible count, maybe slightly untidy with waves iv and i crossing a little, but may be looking at a near term corrective phase. Upper trendline resistance dates back to the peak in March '08, would be a positive if that resistance was broken prior to any corrective phase Possible wave v of 5 to come to break that trendline.

One possible count, maybe slightly untidy with waves iv and i crossing a little, but may be looking at a near term corrective phase. Upper trendline resistance dates back to the peak in March '08, would be a positive if that resistance was broken prior to any corrective phase Possible wave v of 5 to come to break that trendline.

Avocet Mining has eliminated it's entire gold collar hedge position and has made an exceptional gain of $24.8 million. Avocet are now fully exposed to the spot gold price. Certainly shows confidence.

The possible A-B-C down from the all time high with the C wave breaking down into a 5 wave form looks to be in it's final wave v with just one more low to complete the pattern, probably in the next couple of days. Rapid price rejection from a new low would be a good start for a bullish move. .

The possible A-B-C down from the all time high with the C wave breaking down into a 5 wave form looks to be in it's final wave v with just one more low to complete the pattern, probably in the next couple of days. Rapid price rejection from a new low would be a good start for a bullish move. .

In wave v of 5 of a larger C wave now ----- close to a bottom - watching for the buy signal A rising support line from July '05 is now at about $770 --- just below the recent bottom ---- may be a good point to watch out for.

Looks to have completed a wave 4 and now down into a possible wave 5 of the C leg down from the main A-B-C down from the peak over $1,000. So far this possible 5 waves down is pretty well behaved and now looking for that fifth wave to break down into it's own 5. We should see a new recent low if that happens. There's also rising trendline support currently close to $770 running up from July 05 --- that may prove to be strong support. Minus development / rapid and sustained rejection up from around that $770 area would give a kiss it goodbye effect and would signal an important low. ------ Just one of many scenarios that may happen, but maybe one to look out for. .

Interview with Frank Barbera on Seeking Alpha extract:-- Maybe we’ll see junior mining stocks springboard off of a bottom here in the weeks ahead with real relative strength and the renewed buying interest that has been absent over the last three to four years. What I think we can do is recognize it if and when it happens. We need to be on the lookout for a big improvement in volume in the juniors, a nice kickoff with good breadth and high volume in the seniors. It’s not impossible that the mining stocks could launch into a strong uptrend and end up being a safe haven place within a bear market. Right now it’s a little bit too soon to make that call. _________________________ http://seekingalpha.com/article/92863-fran...-all-time-highs Look for an up move with volume picking up on the CDNX.

Excellent interview with Rob McEwen. 'Legendary mining executive Rob McEwen has been associated with the resource industry for 29 years. Currently Chairman and CEO of U.S. Gold Corporation (UXG) and Lexam Explorations, he was the founder and former Chairman and CEO of Goldcorp Inc. (GG).' 'RM: Yes, I believe that by the end of 2010, we’ll be seeing $2,000 gold, and before the gold cycle is out, it will go up and touch $5,000, and that will be the end of the mania phase.' http://seekingalpha.com/article/92344-inte...t-shining-again

Excellent interview with Rob McEwen. 'Legendary mining executive Rob McEwen has been associated with the resource industry for 29 years. Currently Chairman and CEO of U.S. Gold Corporation (UXG) and Lexam Explorations, he was the founder and former Chairman and CEO of Goldcorp Inc. (GG).' 'RM: Yes, I believe that by the end of 2010, we’ll be seeing $2,000 gold, and before the gold cycle is out, it will go up and touch $5,000, and that will be the end of the mania phase.' http://seekingalpha.com/article/92344-inte...t-shining-again .

Looks like it has been drawn as a parallel from the bottom support line, with the top of wave 2 as the one contact point. ( second contact point not needed. ) .

Thanks for that addition, should have spotted the wave iv resistance at the recent high as possibly being the A leg peak with the B and C still to come ( Although there may have been an A-B-C up already ) The next week or two should complete the overall pattern down from the all time high as what looks like a corrective A-B-C, just a little concerned by the possible impulsive nature of the C leg and if it forms 5 down. With seasonality favouring a move up in September, looking for a bullish move then.

One possible count which would call for a wave 5 down from here -- this whole move down looks quite impulsive but the fundamentals argue against that being the first leg down of a major correction. Still bullish but waiting to see what the chart does in the near term.

Time for a chorus of 'I See a Bad Moon Rising' then ---- Or is that just a shaggy werewolf story. .

AIM listed Avocet Mining today announced it has made a significant reduction in it's gold collar hedge position to increase exposure to the spot price. Avocet completed it's buy back of sold call options on Aug 15th over 65,000 ounces of gold with a strike price of $755, a reduction of 34% from it's previous collar hedge position. This means all gold sales will be at spot prices, or $600 dollars if higher, up to at least June 2010. As a junior that shows very strong confidence in itself and that the present dip in gold is a bullish opportunity. They could be pretty much spot on with their timing. .

Is that the CDNX sticking it's head over the parapet -- Quite a strong bounce over the last 2 days --- Sustainable ?????

Extracts from one of Jim Sinclair's posts today:-- Dear CIGAs, “US CFTC CHARGES DEFENDANTS WITH 'BANGING THE CLOSING PERIOD' OF OIL MARKET TRADE” Are you totally blind? Today you read a post from Trader Dan concerning chart painting, but you still continue to push the panic button, letting yourself be bamboozled by those short the junior gold shares. This day’s action has all the markings of the MANIPULATION resident in the commodity markets. This gold reaction has no legs. The third try at $1000 stands right in front of us. ------ Today has all the earmarks of a Hail Mary play in the juniors hoping to break the back of investors. Look at the HUI which shows you the “BANGING THE CLOSING PERIOD” of the junior golds. The cheapest gold entities are the bombed out juniors that are real companies not starved of operating finances with viable properties. They will appreciate 1000%. Before you break out your razorblade kit and head for the bath look at the HUI and know gold is going above $1000 very soon. If you do not see what is happening then you are totally BLIND to how you are being bamboozled! _______________________

2,300 may yet give support looking at the 3 year chart. Just watched an interview with Jim Chanos and a former SEC chairman on Bloomberg talking about the ban on naked shorting, Chanos was quite clear that it was the smaller caps that were attacked by naked shorting and there is always stock available in large caps. Will the naked shorting ban help juniors, we'll see. A few takeovers wouldn't go amiss !! .

With the performance of juniors in the UK of late a prediction from Jim Sinclair for a bit of cheer. The CDNX looks like it also needs a bit of cheer after the last couple of days. Author: Jim Sinclair Dear Friends, There are two subjects of extreme importance today. I sent you an email months ago saying, ?This Is It.? 1. I am now telling you, ?It Is Now.? Gold is preparing for an assault not on $1000, but for a brief penetration of $1200. Violent chopping will occur, then off it goes to $1650. This violent chop we have been living in here and now will resolve itself very soon and the take will be seen by history as having occurred in this last formation HERE AND NOW. 2. Where your juniors are concerned please give equal attention to the fundamentals before you make any decision. When beaten down, as they have been, think about gold at $1200 and $1650 coming sooner than anyone expected. Call the company and respectfully demand to speak to management, not an IR officer. If management is in the country but will not speak to you, put that in the debit column. Allow time for a call back as many other investor may be doing the same thing. The questions are simple. Property, finances and costs are the subjects you approach. As an example, a high cost mining company in Ghana just experienced an increased production cost per ounce of gold as a byproduct of increased electrical costs in the country. Before you push the panic button the question to the company is ?What are your total costs per ounce, not cash cost?? Once you have that answer think about gold at $1650. I will discuss the ?why? of all this on www.JSMineset.com this evening. Respectfully yours, Jim __________________ .

With both Jim Puplava and Jim Sinclair striking back at illegal shorting of juniors I hope that many have followed through by sending out Jim Sinclair's email to juniors they have an interest in. Am a little surprised that only Pixel8r and myself have confirmed on this thread that we have followed up with Jim Sinclairs email. ----------- QUOTE (Pixel8r @ Jun 17 2008, 10:42 PM) I have passed this onto a few that I'm invested in. It might be worth doing the same. Have done similar.---- The more this is passed on, the greater the effect. -------------- Has anyone else sent emails out to juniors they have an interest in. With both Jims providing excellent services to all, would really like to see them get major support from everyone with an interest in juniors, not only for self-interest but out of respect for the efforts of Messrs Sinclair and Puplava -- and their teams of course !!! .

Have done similar.---- The more this is passed on, the greater the effect. The Day The Juniors Fight Back - Jim Sinclair

Posted On: Sunday, June 15, 2008, 11:21:00 PM EST In The News Today Author: Jim Sinclair Jim Sinclair’s Commentary Junior mining situations provide the majority of new reserves in both base and precious metals. Many of these companies are now selling at prices less than the value of the sum of the parts. The hedge funds keep up their strategy of naked short selling, having gone from normal greed to insatiable madness, wanting it all and wanting it now. The turn in these shares will be made by the first major deals between Chinese and/or Middle East entities. The other end game for these criminals would be the outing of those that attack from the shadows, content that they will never be identified by data as naked illegal shorts. Mining Replaces Financial Services as Biggest Driver of M&A By Ambereen Choudhury and Brett Foley June 12 (Bloomberg) -- Metals are the new green on Wall Street, as mining has displaced financial services to become the biggest source of mergers and acquisitions. The value of announced mining takeovers more than tripled to $199 billion in the first five months of 2008 from a year ago, even as the global pace of M&A dropped 37 percent, data compiled by Bloomberg show. Financial-services companies, the largest driver of merger fees for the past two years, disclosed $173.5 billion of transactions in the first five months. It's the first time mining mergers have topped the M&A table since Bloomberg began compiling the data in 1998. ``We have moved into the age of commodities,'' said Carl Hughes, a London-based partner at Deloitte & Touche LLP, who oversees the firm's energy and resources practice. ``You clearly have a large number of mining companies just generating cash and profit like there is no tomorrow.'' A $100 billion deal is ``imminently possible,'' said Shaun Treacy, who runs Lehman Brothers Holdings Inc.'s global metals and mining group from London. That would be in addition to BHP Billiton Ltd.'s $147 billion unsolicited bid this year for Rio Tinto Group in the world's largest mining transaction. ``The race is on for valuable, high quality, scarce resources,'' said Treacy, 41. ``Rumors are circulating about various transactions, as there continues to be significant appetite.'' _________________________________ Juniors Mercator Gold and Kopane Diamonds have recently turned away potential bidders, wonder how many more juniors are being closed in on by predators at the moment. A wave of M&A could certainly get the juniors moving, but it does seem that Mercator and Kopane were not going to sell out cheaply. There is plenty of cash there, for the right assets ---- but the bidders are trying it on at the moment by the look of it. .

Gold Stocks - 5 points to Remember. From Seeking Alpha Article extracts:----- Oil is now over $130. Of course there has to be some speculation here, but there are many commodities that are also at sky high prices and these do not trade on exchanges just producer to industrial end user, meaning there are no speculators or hedge funds involved. The list is so long I won’t include it here. The key thing to remember is that if these commodities are also in very strong bull markets it confirms that the general trend in almost all commodities is higher due to economic basics. These basics are: a) the supply demand impact of a new world (China, India, Russia, Brazil, etc.), b.) a decade or more of global paper money increases well above normal, creating inflation and c) the normal 20-25 year commodity up cycle that just started in 2001 Gold and silver are commodities and will respond like other commodities in the coming grand cycle commodity bull market. But these metals are also possible currency substitutes that cannot be wiped out by a bank run or a printing press. This will have increased appeal as we move further into more of a paper money crazed world. Precious metal stocks with the resources already in the ground are solid investments. Mining companies with only land packages and drill rigs are highly speculative and will not participate in the coming bull market if they do not find economic deposits (which is very hard to do). Best to put most of your money in companies with solid resources in the ground. Mining Stocks The time for the gold mining stocks is now. A recent Financial Times of London featured editorial was titled, “Gold is the new global currency.” We couldn’t agree more. The article quite correctly concluded that printed money is indeed the barbaric relic. In 2007, the U.S. Government debt increased by $500.2 billion. Even worse news is this recent statement from the U.S. Comptroller General. The federal government’s fiscal exposure of direct and indirect debt increased by $2 trillion in 2007. Direct and indirect debt obligations totaled approximately $53 trillion as of September, 2007 …. an increase of more than $32 trillion from September 2000. [emphasis ours] These are big numbers that make us very secure in holding well thought out gold mining stocks. ___________________________ Full Article http://seekingalpha.com/article/79129-gold...nts-to-remember

From Jim Sinclair Dear Comrades in Golden Arms (CIGAs), In years to come, market students reviewing gold's price action moving from $600 to $1200 will appear as much of a straight line as any market can produce. Don't miss the historical move you are in. Look at the big picture. Don't allow the daily arranged noise to dull your market senses. Nothing gold will fail to perform. The larger the legal and illegal short, the more dynamic the upcoming move of the juniors will be. Cancel all open sell orders in gold anything. The sun is setting on the gold and gold share bearish bullies who wished only to destroy, contributing nothing to anyone but themselves. The world is made up of builders and destroyers, givers and takers. When the book is written, the hedge funds will be seen as destroyers of the financial world and having taken all the wealth of their investors in the process. _________________________________________ Many gold juniors will have advanced their resources or moved towards production whilst their SP has been depressed, taking no account of the advances made. Whether it is gold through $1000, consolidation or any other catalyst, when the overall move starts, would expect it to be very sharp. .

Jim Sinclair’s Commentary You might consider telling the management of your junior investment to be wary of the first offer (a certain lowball) or the short that wants to cover who presents themselves as investors interested in a private placement. Miners looking for takeovers The Canadian Press May 13, 2008 at 11:40 AM EDT TORONTO — Nearly half of the large mining companies interviewed for a recent study by Ernst and Young said they need to make acquisitions to meet their aggressive growth targets and 90 per cent said they expected to make an acquisition in the next two years. The study, published Tuesday, predicts that 2008 will be a critical year in defining which of the mining companies are the hunters and which are the hunted. “The global mining sector is flush with cash right now, and there's a strong appetite for more transactions,” says Tom Whelan, Ernst and Young's Canadian mining leader. “Companies in Canada and the U.S. are attractive targets because most companies in North America have a single metal focus. This makes them neat strategic acquisitions.” The study found 40 per cent of respondents — which were selected from among the top 40 mining companies in the world — said they were only able to meet their aggressive growth targets through acquisition. .