RBY  has completed the base of it's cup and is now building the second half which should go to $4.10

The move is being accelerated by this mornings announcement that they expect to have a NI 43-101, gold resource estimate, on their F2 core which is located next to one of the largest gold deposits in the world, completed by the end of November and released.

I have mentioned RBY on numerous times on BP but all I heard was a bunch of squirmish nellies panicking when the price broke down into the $3.40-3.50 area.  Fortunately, I continued to buy more $2.50 calls for December and March at bargain prices. Hopefully by December, I will be a lot closer to a million.

Having read their latest report, they have a lot more work to do before securing a serious takeover bid.  They indicate at least 12-24 months.  Plus they are having problems securing water for the mine.  No easy solution.  I do not have a position at this time.

I continue to add to my RBY position on the pullback which was a fakeout for weak hands. Today it is up 6.3%.

They had a newsrelease this morning and then we had "sell the news".  No problem. There will be another release very soon on the drill results.  We are rangebound between $4.05-$4.25 until the next release.  December options still appear to be a great bargain.

50 MA $4.07  200 MA $4.01

Current price $4.14

Great value: Dec $2.50 calls, Bid $1.50 Ask $1.75

See if you can pick up for $1.70-$1.65

Look for news release Tuesday, Oct 12.

On Oct. 5, yesterday the sale of 45.7 million shares of RBY was completed.  The company was unable to release drill details on it's underground inner core F2 very high grade gold zone due to a blackout period on this insider stock sale.  Once the underground bulk sample details are released, all hell will break loose.  Major gold miners are lining up for takeover bids depending on the results. Reports to date indicate at least 10-12 million ounces of gold and possibly much more.  

It is most likely in a dormant state until the release of data. It is not overbought nor is it in a late stage. 

Doing well today and the future looks exciting.

I admit that I have a huge stake in this company, both in shares and options (Dec. 2.50 calls.  My options only cost $1.55 so a breakeven at $4.05 is a great bet for a 72 day lifespan.

For a current play, I would suggest picking up the options in the $1.75 range if possible. It should be very rewarding.  I am still looking for a $6-$7 price and possibly higher before yearend.

Do your own due diligence!

Current price is $4.17

Terrific!  Everyone should get an iMAC! This auto pick up is certainly a huge benefit to enjoyment of the site.  Coffee is on me!!

McEwen indicated that UXG will issue more shares in order to startup mines in Nevada and Mexico. This type of news is not helpful to current shareholders.  I'd come back to UXG after they start production.

XRA short, target $5.85, $5.42.

RBY support $4.01.  Next week will be extemely interesting. Stay tuned. Target $6-$7.

UXG short, target $4.66, $4.25

Trailing stops recommended

It looks like a blood sucker to me. You could probably pick it up under $6.00.  Potential is there but not yet.  Most likely not until next year when takeover discussion begins.

The better buy is RBY.  After October 5, the fireworks begin.  The current scuttlebutt involves a Goldcorp takeover of their Red Lake property, perhaps as high as $7.00.  Current price is $4.10.

Keep your eye on XRA. Overhead resistance is $7.20, then $7.30 then off to the races. Targets are $7.77 then $8.30.

It closed today at$7.01 If gold and copper prices keep escalating, XRA will zoom. A takeout bid should come in the Spring with a forecast of $15-$20.  Measured and indicated resource report showed 21.3 million ounces of Gold, 48.4 million ounces of Silver and 5.3 billion lbs. of Copper.   Drilling ,restarting after the Chilean winter, should add to the discovered resources.  This is the largest new find in the world of gold and copper.

I have major positions in XRA and UXG.

Gold at $2,000 by end of year, at $5,000 by 2015.

My largest position has broken out this morning. Also listed by Breakpoint.  Currently, $5.35, breakpoint was $5.20. I think CEO will be on shortly on CNBC.

Yes, this has lots of potential.  I just did an intraday sell of my position for a ton of profit. I will get back in on an intraday recycle.

My other major position has been UXG. They also will be issuing another resource report, most likely before the end of September.  I also use this stock for scalping purposes and the frequency of my trades are too much to post here.  McEwen will bring this baby over $6 before year end at a minimum.

SLW I like but believe it is overextended and I will not be chasing it.

Good luck with the precious metals!

Check out 60 minute chart. Looks very interesting.  MACD  hist.crossing above -0- line, 60 period stlochastics crossing above 25. All systems seem ready to go.

I picked up a very large position on Friday and got in at the low of the day at $12.75.  Stops are now in place but giving it lots of leeway above my cost.  

The downward sloping channel has an upper line about $13.90.  I don't know if it will get there but my trailing stop will stay in place.

The 60 minute chart looks horrible so I got stopped out at $4.98  Maintained a good profit but not anxious to get back in until the indicators, MACD and Stochastics give me a new signal on 60 minute time frame.

Careful with the SPX 5 minute Renko.  Those so-called buy signals are false signals.  Read my previous write up.

The properties they have in South America are yielding some nice results.  Their big baby, of course, is XRA, Exeter, where they have an enormous discovery of gold and copper. Both XRA and XG are too small to develop their properties and they will be subsequently sold to the highest bidder. 

I have discussed this with Yale and expressed my views as to possible candidates that would be interested to buy the properties.  He concurred with my suggestions and said that I was "right on".  Currently, the winter has halted further drilling in Chile where Exeter is located but they will resume working there in September.  So I would expect further news releases by October for Exeter.

Target is over $6.00 by year end.  That is conservative because the company is going to release two more resource reports over the next four months.

I do have a very large position due to the fact that I had the opportunity to personally spend several hours talking to the companies executives and discussed in detail the questions I had about all phases of the company.  

The CEO of UXG, Bob McEwen is a gold genius.  He takes no salary in that position and is very shareholder friendly.  His officers are young but bright and handpicked by McEwen.  If gold breaks out significantly, the price of silver will follow and UXG will benefit substantially putting the share price in the $8-10 range at a minimum.  Do your own due diligence.

Any suggestions, i.e. stochastics, macd, moving averages, RSI, etc.  I think Matt or Steve showed a one minute chart recently but I forgot to print it out. I imagine the indicators would vary between an index such as SPX and SDS or SSO and a stock such as CSCO.