Good Paint On The Tape

A good paint on the tape Friday boosted the share price when it seemed that our stock was about to dwindle. But most of the trading on Friday came in at the close, in the last couple of minutes of the day.

I believe the market senses that there will be a rally in the stock. We have had the most daily volume day after day in many moons.

I also believe that what will move the stock is exogenous to the company, that the fundamental factor deciding the stock price will be outside of what the company does, which is advances in the gold price. So I have changed all gold price values to $US rather than $CDN on my public chart list, as they point out some of the possibilites for the stock price. (the irony is that gold isn't moving much in terms of loonies or yen, for example.) The technicals on the daily are all saying rally-rally-rally. If the company's shares actually index along with the $US gold price in any way, then the longer term charts in weekly and monthly increments shows the possibility of where the share price might wind up.

As for the company perhaps they have found the source for the EP zone, which could have been carried 2km down ice from the latest discovery, coming to rest by the Komis mine. The market is very likely responding to this news, and anticipating results from Bingo.

stockcharts.com

Yen Vs. $US

The Yen vs. the $US chart is very revealing over the long term, since it may be forecasting a lower low for the $US and a Yen melt-up. The Yen saw a decline when they went into deflation and a lower low before rallying.

$XJY:$USD

The Copper Price

As a proxy for growth and inflation, Copper is probably the best indicator, though we are seeing mixed results in commodities prices, as not all will adhere to the fundamentals. But for the most part, Copper has seen its day, and is ready for a sell off, especially if you consider the position of the COT numbers compared to the peak price last year:



http://www.flickr.com/photos/11747277@N07/4019851436/sizes/o/

Gold Drivers Relative Gold Chart

http://www.golddrivers.com/chartsmember.aspx

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