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  • Peter Schiff: Janet Yellen Much Ado About Nothing - Gold And Golden Cross MUX TNR.v GLD GDX ABX NG 0 comments
    Mar 25, 2014 9:55 AM | about stocks: ABX, TRRXF, MUX, GDX, GG, GLD, SLV, NEM, RGLD, AUY, SLW, FCX, RIO, BHP, TCK, VALE, SSRI, PAAS, NG, KGC, EGO, GDXJ, FXI, CU, BVN, PPP, GORO, ASM, HL, AEM, CDE, IAG, HDB

    Watch the video:

    Peter Schiff: Janet Yellen Much Ado about Nothing - Gold And Golden Cross MUX TNR.v GLD GDX ABX NG

    Gold Has Completed The Golden Cross, Major Bullish Reversal Is Underway MUX TNR.v GLD GDX

    (click to enlarge)

    Gold has completed The Golden Cross and major Bullish Reversal is underway after this "FOMC week" correction. Now we should move much higher and Goldman Sachs with its call for Gold $1,050 by the end of the year is the very good contrarian indicator.

    (click to enlarge)

    By the way, very interesting situation was happening today with McEwen Mining. Somebody from Goldman Sachs was all over the bids and MUX was traded with total volume of 20.7 million shares and Up 8%. (Update: Now with all after hours trades accounted the total volume between NYSE and Toronto stands at 30.8 million shares vs average volume of 3.5 million shares). That Somebody was caught Very Short after McEwen Mining run this year up to $3.74 and this "FOMC Week" That Somebody was "coincidentally happy" with MUX hitting low of $2.66 before very strong rebound and close at $2.88. Can we talk about manipulation again? One trade was particularly notable in the after hours: at 16.32 9.5 million shares were traded at $2.8804. Last month at the end of February the total short position in MUX was reported at 25.5 million shares, so somebody used this week the opportunity to close at least part of it.
    The upgrade from Cowen and Company has added to the fire: McEwen Mining Price Target increases to $4.57. One more reason for the huge volume spike was mentioned as the rebalancing in GDXJ - Junior Miners ETF. We will see in a week time the change in the short position in McEwen Mining to find out the real picture.
    Now we have the Volume Buy Signal in McEwen Mining and this rebalancing has coincided very nicely with the "FOMC Week" Gold sell off and shaking the weak hands out of the company stock. We will see what will happen next week and will monitor the Gold Golden Cross media talk this weekend.

    Small change games around TNR Gold could be ended in tears for the "players" as well very soon. The penny stock was sold into 3 cents on no volume again today. Next move in McEwen Mining and very strong announcements from International Lithium this week will change the picture very fast, TNR Gold holds 25.5% In International Lithium, shares of McEwen Mining and back-in right into Los Azules Copper project with McEwen Mining.

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