Mega Precious Metals Inc MPRXF

POG retracing ...

[hrattle]

Retracing to $1705 is consistent with another upward move. My guess is we bounce for a Christmas rally but if $1705 doesn't hold then $1650 could come very quickly.

[hrattle]

Asexpected POG tested $1705 today...will it hold? Next stop $1650?

[hrattle]

...if $1705 doesn't hold then $1650 could come very quickly. $1650 is a resistence level but beneath that is not much - $1530ish is the next barrier. However, a bounce off of $1650 is as close to a certainty as it gets.

[tootall123]

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[hrattle]

...a bounce off of $1650 is ... a certainty... And bounce it did! $1,740-ish is resistence and I see a 2 in 3 chance this will hold. However, it doesn't look likely that POG retraces again - we may see some consolidation from now to end of year but I wouldn't be surprised to stay in a tight range of $1,700-$1,740. No deal on the fiscal cliff changes everything.

[tootall123]

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[hrattle]

...stay in a tight range of $1,700-$1,740. As expected 2 weeks ago POG has stuck to this range but now looks ready to move. Unfortunately I'm not sure which way! A break to $1800/oz if I had to guess but I wouldn't put any money on that, the downside is $1650/oz but that could become $1550/oz quickly so keep a tight stop.

[tootall123]

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[hrattle]

A break to $1800/oz if I had to guess... ...right on cue POG broke $1740/oz, $1800/oz is the target. A break of that and a new all time high is almost certain, however, lots of fundamentals still too tough to call.

[tootall123]

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[hrattle]

...$1800/oz is the target. Looks like $1750 was too tough to crack - this is what stop loss was made for. Last time we saw a pattern like this POG dropped down to $1550/oz - unlikely to do that again with $1650/oz being resistence. Downside risk is strongest now.

[hrattle]

...with $1650/oz being resistence. Downside risk is strongest now. Key is whether $1650/oz holds. There seems no reason for this to hold so I'm expecting $1550/oz but we may see some support once $1600/oz is broken.

[tootall123]

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[hrattle]

Key is whether $1650/oz holds. There seems no reason for this to hold... As expected $1650/oz didn't hold - from this point previous drops to $1600/oz have come quickly but that doesn't matter - $1550/oz is a major support level. If this fails (which is very unlikely) then $1400/oz is next. A drop near $1600/oz on balance should be a buying opportunity.

[hrattle]

...$1650/oz didn't hold - from this point previous drops to $1600/oz have come quickly... $1600/oz looks a certainty very soon (actually $1598/oz is where I expect a short term low). I no longer see this as a buying opportunity as I don't expect this to hold and $1550/oz should follow. If $1550/oz fails then it will be time to exit gold markets and we can declare the bull over. Most

[tootall123]

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[hrattle]

Expect a small rally but only to as high as $1680/oz before the drop to $1600/oz. Of course it may do none of this but that's what the tea leaves are telling me today!  

[hrattle]

It took a little longer than I expected. The key level now is $1600/oz (actually $1598/oz) - if that holds as most expect then we bounce back to the $1660/oz level for a few more gyrations. If it fails then strong resistence is at the $1550/oz level - very unlikely to shoot straight through that but if it is tested then reducing gold exposure makes sense.

[hrattle]

The key level now is $1600/oz (actually $1598/oz)... On closer inspection $1592/oz must hold for a bounce back above $1650/oz. If $1592/oz fails then getting out of gold and gold stocks is the trade - you can always buy back later at a lower price. There are only two golden rules about investing - TAKE PROFITS and STOP LOSSES.

[ramblersrest]

Gold is now oversold . Selling your gold stocks in an oversold situation is questionable advice . There are beaucoup gold stocks now trading at prices of less than $ 10 per oz in ground . Seems like a time for holding and buying .

[hrattle]

Gold is now oversold . Selling your gold stocks in an oversold situation is questionable advice .   Yes gold is oversold against all indicators - RSI, BB, W%R, etc. It was also oversold when it was last at $1650/oz yet it fell below $1600/oz soon after. Indicators, particularly leading indicators are useful and it is more likely than gold will not fall below $1592/oz.   BUT IF IT DOES

[ramblersrest]

If oversold gold falls into a short term capitulation below $ 1592 for a few days your advise is to sell  gold stocks ? Bearing in mind that many are currently at extreme low market cap relative to their assets and the shares are not very liquid in most cases. Seems like a classic set up for accumulation instead of giving away one's shares to vultures .  

[hrattle]

...instead of giving away one's shares to vultures. Rambler don't get so attached to your investments! This is simply about stopping losses. A fall below $1592/oz will likely test the strong resistence just below $1550/oz - in doing so gold stocks should suffer. Selling with a view to buying back is a proven strategy especially for juniors - you lower risk, increase reward and maintain

[hrattle]

A fall below $1592/oz will likely test the strong resistence just below $1550/oz... I can hear rambler screeching "but gold is oversold ... the vultures, the vultures ..." $1550/oz should hold - if it doesn't .....

[ramblersrest]

The vultures aren't all bad as they will save the slide when Soros and the like switch back into bullion . Now that $ 1600 seems temporarily broken there is no big deal about $ 1550 falling as $ 1500 is is the real line in the sand that would cause shock  ...    

[hrattle]

... as $ 1500 is is the real line in the sand that would cause shock  ... A psychological line? The technical line is either the $1520/oz low (after the all time high) or the 12 month low of $1540/oz. $1600/oz is a huge psychological line - you will now see many many commentators going bearish on gold. THERE IS NO FUNDAMENTAL REASON FOR POG TO BE THIS HIGH. You should also note that gold does

[ramblersrest]

and your post is not the prattle of a crazy person ?

[hrattle]

... your post is not the prattle of a crazy person ? To you perhaps it is as you have a problem with reality. How about you ask your well adjusted normal idols - like Michele (who believes Hilary is manipulated by muslim fundamentalists) - to "expose" another threat? Or how about one of your well reasoned bloggers - like Jim Sinclair (who believes gold is linked to his birthday and can

[tootall123]

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[ramblersrest]

Not content at admitting he is crazy prattle is out to prove himself stupid by claiming inflation and commodity asset / gold price rises are not concurrent ... That is not surprising as he is always defending the undefendable Hillary .. If her boyfriend isn't getting shot in the head she is falling on her own head  ...  

[hrattle]

... claiming inflation and commodity asset / gold price rises are not concurrent ... How has that been working the last 10+ years???? Rambler are you blind and stupid or just stupid???? The greatest gold bull in history has been accompanied by virtually zero inflation - did you miss that????

[ramblersrest]

So you believe that the price of oil , copper,other materials ,PMS, price of food and real estate has been static for the past 10 years . You must have been in the crazy house all this time oblivious to reality .  If you believe government fictitious stastics for inflation and unemployment then you would be big enough of a dube to swallow BS from the likes of phony Hillary .  

[hrattle]

The supposedly "fictitious" CPI rose 25% from 1994-2002 - the same as from 2003 to 2011 yet POG fell in the former period and rose nearly 6-fold in the latter. Even if you don't trust the numbers are you saying they are inconsistent? What are your CPI numbers for 1994-2002 and 2003-2011? Rambler you are the crazy here. THERE IS NO CORRELATION BETWEEN POG AND INFLATION. THIS IS

[ramblersrest]

What me crazy ? One post you say there was no inflation over the last ten year period and the very next post you say there was 25% inflation during the same period .   prattle Call the ward nurse and crew for crazies quick and ask them to remouve the computer from your room as you are making a complete fool of yourself to the entire world......

[tootall123]

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[Flopticalcube]

I suspect we will see something on the same order of magnitude before this one is done.

[hrattle]

25% inflation over 10 years IS virtually no inflation - it is the ideal that every economy in the world aims for. By the way rambler are you still fighting off the vultures? And are you buying every gold stock you can? Gold is over over over sold right? Or are you waiting for that sandy line? $1500/oz will come and go quickly if $1540/oz fails .... By the way are you still waiting for a country to

[ramblersrest]

Your stat of 25% over 8 years is inflation over 3% per year compounded . That is significant inflation notwithstanding the false government jigging of the statistics which hides the  real and high inflation .  

[threepalms]

I do not know what rattle is saying Rambler and frankly I could care less. Only he knows what his agenda might be and the only thing that one can do is put him on ignore and let him talk to himself. If everyone here or on the KBG thread put him on ignore it would remove much negativity from one's effort to stay informed. Very interesting developments both with this one and KBG occuring as we

[ramblersrest]

It is good to get the little dip in gold over with now so that the junior's can rebound this spring . The last couple of days was just from a few mumblings by a minority within the FED which set off stop losses on the way down ..The minority who are hawks have done this in the past but their sentiment does not prevail . The Fed keeps pumping out more money , US dollar goes down, and

[hrattle]

.... 25% over 8 years is inflation over 3% per year compounded . I guess math is not a strong point for you. Rambler you seem to exist in denial. Gold is near a 12 month low. KBG and MGP are near multi-year lows. KBG's prospects according to their CEO are tied to MGP's shareprice - nothing Jim or anyone at KBG can do about that. That sandy line is getting nearer. If any of the big

[tootall123]

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[hrattle]

The gold bull clearly ended 18 months ago - of course many diehards still in denial will of course deny this. But if you just look at the chart it is obvious. Gold's bull run has been dramatic but it only had a short exponential bubble type growth in mid-2011, rising from under $1500/oz to over $1900/oz. This suggests that the new base may be around $1600/oz. That would be very healthy for

[thehammer2]

  Spotting the Miners That Can Survive the Long Capital Drought       -- Posted Monday, 25 February 2013 | ource: GoldSeek.com   Source: Peter Byrne of The Gold Report   In order to make wise investment decisions, gold investors must coldly assess economic realities, says Eric Coffin. As

[ramblersrest]

Good article Hammer ... Did you notice Cannacord giving away SUP yesterday @ .045 .. It has $ 10 mil cash and an active drill program in Quebec ..... Some flyers also even in this market at this time ...

[thehammer2]

Didn't want to talk about another stock here, but to answer your question, yes. Been watching that stock for a couple of months now and decided to jump in today. MGP will have it's day also. TH

[tootall123]

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[VExGuru]

You realize that you can substitute your words with the following...   Yes, the gold bulls are out in full force, and how many times have we seen this movie before?  Gold and gold stocks have had many booms in the last 12 years and every time this has happened  all of the gold bulls come out of their caves and scream  GOLD IS KING....LOL   GOLD IS DEAD

[tootall123]

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[threepalms]

Waste rock will add ozs to MB. Tungsten will add byproduct credits to MB. Conclusion. Market will begin to recognize the implications of this project to the value of the company. PDAC PDAC

[hrattle]

... right now it is poised to test the 12 month low. Not much of a rally off the back of Bernanke's expansionary responses. This retest could come quickly now - I still think it will hold but there is a lot of nervousness around gold at the moment.

[hrattle]

... a lot of nervousness around gold at the moment. "The gold-mining industry, which has underperformed the precious metal for each of the past six years ... The boom in ETFs may now be at an end, with physical holdings poised for the biggest monthly decline since 2008." Source: Bloomberg.

[Curvature]

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[hrattle]

I am not saying the goold "boom" is not over... Is that the same as not saying that you don't disagree with me? My triple negative trumps your double negative - want to try for a quadruple negative? You say the boom in ETF's may now be at an end? I didn't say that. I was quoting from Bloomberg - the bit at the bottom of the post where I say the source is Bloomberg is a bit of

[hrattle]

The risk of course is that gold has still to find it's base ... $14xx/oz gold is now being talked about openly by analysts - it looks like $1460/oz is where they expect the drop to stabilise but I can't see how they get that number - my simplistic assessment is $1425/oz acts as the next support level. I'm not quite ready to buy back into the double bear ETF - I'd like to see a

[Curvature]

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[hrattle]

Point being you cannot take excerpts from articles totally out of context! You don't even know where the quote came from (you didn't even know it was a quote).  EVERYTHING YOU POSTED CONFIRMED WHAT I SAID - you even agreed with me. The context was so right even a knucklehead like you understood it. Curvy you are digging a deeper hole.

[hrattle]

If $1540/oz breaks then $1460/oz is where analysts are forecasting the drop to stop. My view is slightly less - $1425/oz - good luck to those of us brave enough to use double bear ETFs.

[Vega7]

  Next up cycle for Gold may start from April 16-22 to Late May. 2014 may be a better year.

[Vega7]

To day is April 16 and price of Gold is up $22 so far. Hopefully price will rebounce from here till sometime in May.