Markets are solidly in the green across the board this morning after European Central Bank President Mario Draghi pledged to do “whatever was necessary to protect the euro zone from collapse, and believe me it will be enough“…those are strong words from a central bank president who must know he has the firepower within his means to back those words up…Gold and Silver are both close to a confirmed breakout…Gold is up $10 an ounce at $1,615 as of 6:05 am Pacific while Silver has added 28 cents to $27.62…Copper is up 3 pennies at $3.42…Crude Oil is $1.24 higher at $90.21 while the U.S. Dollar Index has fallen more than three-quarters of a point to 82.77…
Draghi’s comments come a day after European Central Bank member Ewald Nowotny said there was an argument for allowing the European Stability Mechanism, the bloc’s permanent bailout fund, to borrow without limit from the ECB…together, such chatter has convinced many traders and investors that the ECB would soon wade in to ensure fiscally-strapped nation’s borrowing costs did not remain at unsustainable levels – potentially creating a firebreak to eurozone contagion…this could remove a heavy weight bearing down on global sentiment and economic activity, and provide a spectacular boost for precious metals…
This is the best Gold has looked on the charts in quite some time…on the 6-month daily chart from John below, completed after yesterday’s trading, you’ll notice Gold is currently above its down trendline for the first time since the spring…Gold needs to close above this line today and tomorrow to give us confidence that a breakout is in progress…notice the recent increase in buying pressure which is accelerating again today…
Below is another technical look at Gold from John, a 1-year weekly chart…the declining weekly EMA-20 provides resistance at $1,617 while horizontal channel resistance exists at $1,630…
In recent days it appears the Venture Exchange has been completing a double bottom…as a reminder, what we all need to watch for is a move through the EMA-20 and the 1200 level – this would signal the end of the downtrend in place since the spring and the beginning of a bullish new phase…the chart below was completed after Tuesday’s close at 1166…the Index gained 6 points yesterday to finish at 1172…
Great Panther Silver (GPR, TSX)
A rising Silver market would be a tremendous boost for producer Great Panther Silver (GPR, TSX-V) which is currently resting at support on the charts as shown by John below…jumping in on a confirmed close above the down trendline would make sense…interestingly, GPR is currently resting at support just above its 200-week rising moving average (SMA)…
Orko Silver (OK, TSX-V)
Another Silver play that’s looking attractive on the charts at the moment is Orko Silver (OK, TSX) which closed up a nickel yesterday at $1.19…OK is less than half where it was back in March, and may have found a bottom at the $1 level where there was strong resistance during 2009…
Note: John, Jon and Terry do not hold positions in GPR or OK.
Rosco – “The American markets have barely even corrected yet.”
Bert – Didn’t the DOW correct to 12K the middle of July ? R !
Comment by Bert — July 26, 2012 @ 6:59 am
RBW – Has anyone spoken with Jon at RBW, if so please could you give the contact telephone number or email address? Thanks. 🙂
Comment by Andrew — July 26, 2012 @ 7:08 am
Andrew it’s 1-877-pum-pdmp
Comment by alex — July 26, 2012 @ 7:40 am
Haha thats funny! 🙂
Comment by Andrew — July 26, 2012 @ 7:43 am
Everything is performing well except the darn Venture. The buyers are not ready
to jump in yet, no enthusiasm. Come on Jon, buy out RBW, let’s build some
excitement. R !
Comment by Bert — July 26, 2012 @ 9:49 am
Ok got it! Jon, are you now working for RBW? I’ve twice been advised to contact “Jon” for IR information and now I’ve discovered its BMR – so would I be correct in assuming there’s some sort of marriage between RBW and yourself or BMR? Thanks
Comment by Andrew — July 26, 2012 @ 9:52 am
It would be very upsetting to hear that Jon was receivng some kind of benefit for all the RBW coverage we have gotten, as he has stated before that he has not received any type of reimbursement for BMRs coverage of RBW…
Comment by db — July 26, 2012 @ 10:01 am
that would be quite slimy. I sure we’ll never know if he was benefiting because of the coverage. This day in age, you never know
Comment by Joey — July 26, 2012 @ 10:42 am
and on top of that think of all the catchy phrases bmr has been using to describe RBW. Screaming to be drill, mindboggling. breathtaking, spectacular, earth shattering. u get my drift. almost sounds like an ir guy
Comment by Joey — July 26, 2012 @ 10:46 am
The only reason I can think of Joey as to why you are here and posting what you are posting is you want more RBW shares at a cheaper price? Is that the case? If not, then why?
Comment by Dan — July 26, 2012 @ 10:48 am
One would drive himself/herself crazy, trying to determine who may be lying on any
given day. I have no reason to disbelieve the BMR group, thus i move forward with
full confidence. They are trying to build a business & certainly realize, that lying
would not be the way to go. The bad market, no doubt, has dampened their plans, but
for now they seem to be satisfied to build their reader base. I have spoken out on
their behalf several times, but i am not lying when i state, we are not related. R !
Comment by Bert — July 26, 2012 @ 10:54 am
Joey – and everyone – some of the comments on this board recently are pathetic and disappointing. If they don’t improve, we will start deleting posters or simply discontinue the comments section altogether. As simple as that. Posting on this board should be considered a privilege and comments are meant to be helpful to others. Opinionated rants and personal attacks will not be tolerated. Enough said. That’s the one and only warning. On such an encouraging day in the markets such as today – with so much to discuss – to read some of the crap posted here is sad.
Comment by Terry - BMR — July 26, 2012 @ 11:42 am
Way to go Terry! Loud and clear!
Comment by Kalkan - Sweden — July 26, 2012 @ 11:48 am
I have to agree with Terry’s remarks. I know what it’s like, i have been verbally attacked
on this site, which bothered me, in particular, since i have always tried to be respectful
& always tried to give an honest opinion. I have twice walked away, not because i was
intimidated, instead did not want to participate in verbiage. Some may want to chastise me
for speaking out, but i would chastise myself, if i failed to do so, it’s just my make up.
Have a good evening & remember, better days ahead. R !
Comment by Bert — July 26, 2012 @ 12:57 pm
Terry … well said BUT I caution you on your emotion. I agree with you, but as I felt before that there may have been something up with BMR and RBW when the RBW guy called me, I sent an email directly to Jon and asked him… privately… because it DID seem that there may have been more of a casual connection….
having said that, if National Inflation Association can do what they do, then this is childs play in comparison. and Jon was upfront and said what needed to be said…. if anyone wants a copy of it let me know..
I believe that Jon is SOOOOOOOOOOOOOO hepp’d up on RBW he is grasping at straws on how to get that across without giving specific guidance…. which if he was with GQC most would be very happy that they had a person with vision in their corner.
its easy to see where Joey is coming from… dont agree with HOW he rants… but as with everything, if one makes out good then they are happy, when they dont they are not… GQC has not made up for the losses in others, but you win some and you lose some… and I do have to say that on another service that I pay for saw, when things are tough, patience is very thin…
and the crap loads up…
during those times, since this is a free service, you can reserve the right to moderate at times, and disallow a certain user/IP/account for 10 daze… or all together..
it is yous guys site and you do with it what you will…. and it does hurt me thinking that someone (or others) are doling out grief to those who try to help, guide, build, etc.
not that you or anyone else wants to moderate all messages… the personal attack ads may be one to remove …. attitudes and opinions like Joey’s recent ones arent required and should not be allowed…. but thats just me…. hope jon/John and yourself dont take any of this ‘crap’ personally….. although I feel it might be tough …. I would ….
be safe this day all…. and be kind.. to anyone! as my mother used to say, some things are better left unsaid… Terry – what you did wasnt… Joey .. might want to apologise!!
Comment by Jeremy — July 26, 2012 @ 1:06 pm
inflation.us is the NIA website…. check out their rant on BVSN and the chart…. THAT is a pump and dump… they do it openly, wildly, and profitably… tis is from today:
SYNC rallied strong into the close yesterday just like NIA predicted. NIA expects SYNC to trade strongly today during normal trading hours. SYNC will probably open down at 9:30AM EST, but as soon as the weak hands are done selling we believe SYNC will rapidly recover and finish the trading day at 4PM EST today up big!
stock was down almost 4 bucks to 9 and change… Joey and Alex…. THAT is a pump…. and all others dumped:) these dudes here are very well meaning individuals trying to build a business…. dont bite the hands that feed you!
Comment by Jeremy — July 26, 2012 @ 1:10 pm
Terry, word of advice, if you and your boyz want a pat on the back right, learn to take a hit while you are down.
Comment by Joey — July 26, 2012 @ 1:58 pm
BMR ,don’t worry about the Joey’s of this world,for every Joey on this site, there are 100 readers who appreciate your insight in the Venture market.
By the way, word of advice for Joey,I hope you will post when RBW is in the $.50 range in October,learn from when when you will be proven wrong,I am sure it has happened more than once in your life.
Comment by Johnmtl — July 26, 2012 @ 3:25 pm
The journey we are taking with rbw reminds me of the journey in the desert by the children of Isreal.It took a 40 year journey that should have taken 40 days.The C of I were tired of the journey and began to grumble and complain.They were tired of eating manna and wanted to sink their teeth into some steak not unlike many of us.They sent spies into the promise land to scout things out many came back with amazing reports of a land filled with milk and honey and low laying fruit.the C of I must of done cart wheels when they heard of this and the barn burning event about to take place.Yet there were others who saw giants in the land that would destroy them.Some of the C of I thought they were beter off if they had never set out on the journey. Many felt that they would die without seeing the promise land Many like moses are angry and wish to stike out .Lets not forsake our faith in rbw And bmr tell us over again to us beautiful words wonderful words beautiful words of a land filled with silver and honey holes
Comment by gil — July 26, 2012 @ 4:14 pm
We all come here to express something… don’t take it seriously as we are all making a guess … I read BMR’s analysis and some of them make sense. It does not mean all of them will have the same expectation. Here is my guess again…. RBW will come up strong but we have to be patient. GBB … I lost my appetite and I am sure that there are a lot of losers ( including me ). RBW, SG and NAR are the ones I am holding a portfolio … wait for the news … hopefully, 1-2 months time. GQC… I really scare of this one… some big players are backing up this one now… hard to drop until they leave the game… This one, still 1-2 months to play with…. but beware if you enter the show now! Day trade will be the best bet.
Comment by Theodore — July 26, 2012 @ 5:22 pm
i still think the company has a good shot if its not all scam if it is my wife will kill me.
Comment by BRIAN — July 26, 2012 @ 8:21 pm
Brian – My wife will kill me
Bert – Left to mourn, friends at BMR
Looks as if we are going to have another positive day. Smile be happy ! R !
Comment by Bert — July 27, 2012 @ 4:41 am