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« LIVE from Casey’s Gold & Resource Summit | Main | Anglo Irish Bank: We Need a Few More Euros! »
Friday
Oct012010

High River Gold Mines Limited Up another 4.65%

HRG CHart 02 October 2010.JPG



High River Gold (HRG) continues to make very good progress as the above chart shows. This stock closed today at $1.35 on increased volume which is always a positive sign. The RSI is standing at '79' which puts it in the overbought zone and no doubt some will be tempted to take profits at these levels. The MACD and the STO are also suggesting that HRG should take a breather at this point and it may well do so.

However, if you take a look at any number of gold producing stocks you will probably see the same thing. Gold prices and also silver prices have been on a roll and dragging the stocks along with them. We expect the metals to keep going so this overbought state of many stocks could be with us for some time. We can apply the same thinking to HRG.

We are still holding on to our position in High River Gold Mines Limited and have no intention of selling any of this stock in the foreseeable future.

Over in our options trading den they have updated the chart to show all the closed trades as of today, so you can see exactly how it is going, please click this link.



OptionTrader Profits





Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

On Friday, 27th August 2010, we closed another successful trade banking a profit of 79.46% on Call Options on Silver Wheaton.

The latest trade from our options team was slightly more sophisticated in that we shorted a PUT as follows:

On Friday 7th May our premium options trading service OPTIONTRADER opened a speculative short term trade on GLD Puts, signalling to short sell the $105 May-10 Puts series at $0.09. On Tuesday the 11th May we bought back the puts for just $0.05, making a 44.44% profit in just 4 days, with more positions opened yesterday. Drop by and take a look.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.







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Reader Comments (1)

The question now in my mind is with all the gold and silver producing stocks on a major roll and many approaching their all time high price for the year, what is plan B, and our next move. It is said that the trend is your friend, but it has to be in the right dirction, doesn't it? I anticipate, like many other investors, traders, speculators, that there will be a sell-off and then possibly a lateral move for a while until the economic uncertainty is resolved.
Anyone have any thoughts? Should we sell all, or part of our producer holding, or place stops and just wait and see what develops? I am interested in how others much smarter than I feel about this issue. Thank you all.
John

October 2, 2010 | Unregistered CommenterJohn Ell

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