YeOldGoldNugget's Blog Spot: September 2009

Wednesday, September 30, 2009

Orko Silver Chart September 30, 2009

By 79Atoms on Wednesday, September 30, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

What do we have here today. We opened at 0.90 which was yet another higher opening adding to my earlier assessment that we might finally be breaking out of our downward moving pattern. If you take a look at the chart and see the trend lines I've drawn, you'll see that with today's close there is a clear breakout visible. Tomorrow we need confirmation for this.

I'm not too happy with the fact that the higher opening of 0.90 was immediately the high of the day. Why? Well, for those who've already gazed their eyes on the silver chart below will know, silver made quite some progress today almost back over its 10 Moving Average.

Don't get me wrong, sure I'd like to have seen Orko Silver trade higher today on silver's momentum and looking at the rest of the junior market, most fared really well today. Sadly most of the stocks I'm following closed in the red so that sorta dampens the mood for me but all in all, even though we didn't get past the 0.90 and closed in the red I'm still pleased with the results of the bigger picture.

We closed at 0.86 which is no big deal, 0.86, 0.87, 0.88, its all meaningless to me. Only thing I'm looking at right now is either a close above 0.90 or below 0.85. Those are the only things I'm looking at to see what this thing will do. Below 0.85 falling back in the downward pattern or above 0.90 which will add more support to the fact that Orko is looking to start another uptrend.

24h Spot Chart - Silver

Chart is courtesy of marketclub.
Marketclub - Silver Spot Trend Analysis.

As you can see, silver is going at it again. The way it looks now I'd say silver will break the 10 MA line tomorrow and will make a run for the 17.00 again. If I didn't know better,...the cards couldn't be stacked better in the favour of gold and silver looking for higher prices. Gold has a similar bullish chart.

So, Orko Silver, for tomorrow I'm just gonna say it, this thing just

HAS TO GO UP

from here and close in the green! Else this bear must be shot on the spot! I'll buy the shells if need be.

As always, take care, this bear might have some twitches left however, same as yesterday I'm already chasing this bear away in my thoughts so for me, it appears we are near the tipping point. Till tomorrow.

YeOldGoldNugget's links of interest

Tuesday, September 29, 2009

Orko Silver Chart September 29, 2009

By 79Atoms on Tuesday, September 29, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Well, we did go down today, to 0.85, since we opened at 0.85 and also made it the low of the day. Not much action early on but from 11:00AM buyers were willing again to push us higher, first to 0.87, then to 0.88 for most of the afternoon and we managed to close at 0.89.

Silver managed to hold its own today, dropped a bit during Hong Kong and London trading but managed to pull back and regain its earlier losses.

Chart wise with Orko Silver I'm looking at an engulfing bullish pattern, this is a pattern which occurs when the red(

) body and shadows are followed by a blue(

) candle which completely engulfs them. A bigger body would give more support to this signal but for an engulfing bullish pattern to occur it is not by definition required for the second up body to either be bigger or to have shadows/tails. If it engulfs the previous position that is basically enough. In our case this pattern could mean that bulls are gaining strength over the bears and that a counter move could be in the works. (a move under 0.85 negates this)

Now to base everything on that one signal,...NO, however, we can combine this engulfing bullish pattern with the fact that around 0.85 there lies a pivot point which adds to the signals strength.

Looking at other indicators, MACD yesterday was down, now, I'm already seeing it move upwards. Not on the chart mind you, in my mind. RSI is very comfortable where it is. If I set the RSI to a period of 2 then we're also looking primo. RSI 2 is to be used as a short-term indicator. If you want to know more details I'd suggest you take a look at the article Why RSI May Be One of the Best Short-Term Indicators.

As always, never just go by one indicator, look at all. Make decisions based on not just one piece of the puzzle put try to gather more pieces. One can never see the entire picture but the more pieces we have the better view we have at what might be

The bigger picture

And if we still get it wrong, well, hard to tell from a little puzzle piece if we're looking at the right or left fingernail. Mishaps do happen but knowing that you've gone wrong and immediately adjusting once views also saves a lot of money. But everything is still going as planned.

So, yes, maybe we could go farther up from here, the stock certainly is ready for it chart wise. I'm looking at our bear as being from the same breed as the following one :

Direct link to youtube

Needless to say, not only did he get a more than deserved beating to his holy marbles, he's also out cold for the time being. What do you think? Is this bear ready to head back for its cave? If you have any comments I'd like to hear them.

YeOldGoldNugget's links of interest

Monday, September 28, 2009

Orko Silver Chart September 28, 2009

By 79Atoms on Monday, September 28, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

I suppose rising silver prices are not to stop Orko Silver's consolidation? Most other silver stocks I follow have all ended in the green today.
But to prove to you that stocks don't always follow the run in silver price I say look at the following chart. As you will notice if you compare the above and below, you will see that Orko kept trading upwards till September 22 while most other silver stocks (that I follow) have started their down march since September 16 together with the consolidation in silver.

Silver Spot

Chart is courtesy of marketclub.
Marketclub - Silver Spot Trend Analysis.

That was that. Today we opened at 0.88, we did manage to put the 0.89 on the boards but the bear had its claws in that lone bull quick-smart and after making a low of 0.85 we closed the day at a price of 0.86.

That makes it 0.01 less than last Friday which isn't all too bad really. I don't really think its time yet for Orko to start its move upwards. The volume today has again decreased so what bear there remains to my feeling is more of a little Teddy-bear. At least that is what it looks like to me. When you have a day where about 100K shares are traded then I don't have to explain to you that the number of sellers appears to growing thin!

The MACD indicator does indicate the counter movement from upwards to downwards. That is not the same as downtrend or uptrend. This stock however being in a downward momentum is however not in a downtrend. The trend is still upwards! To qualify for the downtrend this stock would have to dip beneath the 0.75.

Looking at the chart, if the 0.85 level doesn't hold, which is a possibility however looking at volume today getting that little bit more unlikely, then I'm looking at the next Fibonacci line which brings us to 0.80. And no, there is no gap there from September 4 till September 8.

I'd say RSI wise I'd like to see it go lower a bit more than where we are now. So where does that leave us for tomorrow. The things I see here as positive are the low volume of sellers which could indicate this bear is ready for its winter nap, a Fibonacci 61.8% which coincides with the 0.85 pivot point from a couple times ago in Orko's past which could still act as a bottom, the fact that we more or less traded sideways instead of more downwards...and the stock isn't overbought anymore

Phew, that's actually quite a lot that I've written there that I like. Hm, well, still looking a bit more to the downside tomorrow although things are looking up and the downward movement today could all be easily explained by Stormy Monday.

If you haven't already watched the presentations I suggest you do so, best to start with the Latin American Mining Congress and work your way back. (knowing that the first two have some by now outdated numbers and data, the history about the story however hasn't changed)

As always, do your own due diligence, take care and prosper.

Sources
Latin American Mining Congress 2009 (image)

YeOldGoldNugget's links of interest

Sunday, September 27, 2009

Presentations

By 79Atoms on Sunday, September 27, 2009

Orko Silver Presentation January 22, 2008

Orko Silver's Consulting Geologist and Director George Cavey, P.Geo present a company update on 1/22/2008.

Orko Silver Presentation June 13, 2008

George Cavey, P.Geo. Vice-President for Exploration and Director of Orko Silver (TSX.V:OK) delivers this investor presentation on 6/13/08.

Orko Silver Corp - 3D model of La Preciosa

Orko Silver Corp - 3D model of La Preciosa

This is a 3D model of the La Preciosa project. The area in red is La Preciosa ridge. Going underground shows you Martha vein which extends more than 3km

Orko Silver Corporate Profile October 16, 2009

Orko Silver Corp.( TSX Venture Exchange : OK ) is developing one of the world’s largest primary silver deposits, La Preciosa, located near the city of Durango, in Durango State, Mexico. The La Preciosa silver project and adjacent mineral concessions cover 80,000 acres of contiguous mining claims.

Orko Silver Latest Presentation October 16, 2009

Developing One of the World World's Largest`s Primary Silver Deposits.

Financial Sense Newshour : Big Picture with Jim Puplava & John Loeffler November 26, 2009

BIG PICTURE PART 4: Tony Nunziata VP Corporate Communications Hathor Exploration (TSX: HAT-V William Pincus President Esperanza Silver Corp (TSX: EPZ-V Dave Webb President & CEO, Director Tyhee Development Corp (TSX: TDC Ben Whiting Chief Geologist Orko Silver Corp (TSX: OK-V)
Scroll to 1:05 to get to the interview with Ben Whiting

Saturday, September 26, 2009

Orko Silver Resources mapped to Chart

By 79Atoms on Saturday, September 26, 2009

Daily Chart

Chart is courtesy of marketclub.

Well, I wanted to know a bit more about the earlier years and decided to do a bit of searching on the Orko Silver website and the net. The chart above is the result of a little late night browsing. I happened to come across a similar chart on the Orko Silver website cause they had something similar in one of their presentations. I have also added some annotations in the chart from wiki invest.

The following paragraphs are taken from the Orko Silver Corp. website and correspond with the dates on the chart above.

January 19, 2006

Favourable results from drilling and interpretation of distinct mineral-shoots within the Abundancia and La Gloria veins gave reason for Orko to make a first resource estimate for the property. Using a cut-off grade of 150 g/t silver-equivalent, Inferred Resource Estimate I totaled 2.72 million tonnes grading 227.2 g/t Ag and 0.462 g/t Au for a silver-equivalent grade of 255.0 g/t. Resource Estimate I was released on 19 January 2006 (Gunning and Whiting, 2006).

September 7, 2006

Drilling continued and Inferred Resource Estimate II was released on 7 September 2006. This estimate was up to hole BP06-38 for a total of 16,334 metres in La Preciosa Ridge area, including Abundancia, La Gloria and Abundancia Zona Sur veins. Using a cut-off grade of 100 g/t silver-equivalent, Inferred Resource Estimate II totalled 4.05 million tonnes grading 207.4 g/t Ag and 0.384 g/t Au for a silver-equivalent grade of 230.4 g/t. Alternatively, at a 150 g/t cut-off, Inferred Resource Estimate II totalled 3.42 million tonnes grading 235.0 g/t Ag and 0.435 g/t Au for a silver-equivalent grade of 261.1 g/t.

March 13, 2007

Drilling continued and Inferred Resource Estimate III was released on 13 March 2007. Inferred Resource Estimate III -- At 100 g/t Ag-Eq cut-off the estimate is 5.72 million tonnes grading 192.9 g/t Ag and 0.345 g/t Au, for a silver-equivalent of 213.6 g/t. At 150 g/t Ag-Eq cut-off the estimate is 4.39 million tonnes grading 229.9 g/t Ag and 0.396 g/t Au, for a silver-equivalent of 253.7 g/t.

October 1, 2007

Drilling continued and Inferred Resource Estimate IV was released on 1 October 2007. Inferred Resource Estimate IV -- At 100 g/t Ag-Eq cut-off the estimate is 10.36 million tonnes grading 199.7 g/t Ag and 0.328 g/t Au, for a silver-equivalent of 219.4 g/t. At 150 g/t Ag-Eq cut-off the estimate is 6.88 million tonnes grading 256.6 g/t Ag and 0.387 g/t Au, for a silver-equivalent of 279.8 g/t.

March 31, 2008

Drilling continued and Inferred Resource Estimate V was released on 31 March 2008. Inferred Resource Estimate V -- At 100 g/t Ag-Eq cut-off the estimate is 15.35 million tonnes grading 190.0 g/t Ag and 0.321 g/t Au, for a silver-equivalent of 209.2 g/t. At 150 g/t Ag-Eq cut-off the estimate is 6.88 million tonnes grading 256.6 g/t Ag and 0.387 g/t Au, for a silver-equivalent of 279.8 g/t.

February 18, 2009

The Company's Resource Estimate VI was released Feb 18, 2009 is based the results all the holes drilled to date including the 2008 drilling of an additional 205 holes (79,021m) that was completed after the date of the last resource estimate. The La Preciosa deposit now comprises 47% Indicated Resources and 53% Inferred Resources. Current Indicated Resources are 10.64 million tonnes grading 0.27 g/t Au and 185 g/t Ag for a Silver-Equivalent grade of 201 g/t. at a cut off grade of 100 g/t. The contained metal equals 63.2 million ounces of Silver and 94,000 ounces of Gold for a Silver Equivalent of 68.9 Million Ounces. Current Inferred Resources are 12.0 million tonnes grading 0.25 g/t Au and 185 g/t Ag for a Silver-Equivalent grade of 200 g/t. at a cut off grade of 100 g/t. The contained metal equals 71.8 million ounces of Silver and 97,000 ounces of Gold for a Silver Equivalent of 77.6 Million Ounces.

September 18, 2009

So, there you go, this ought to help to get a more complete picture about Orko Silver's path to becoming a producing silver miner and what has already been done to get there.

If anyone has any ideas about the last spike, don't be afraid to post a comment. I'd love to hear your thoughts.

YeOldGoldNugget's links of interest

Friday, September 25, 2009

Orko Silver Chart September 25, 2009

By 79Atoms on Friday, September 25, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Today's trading brought us well under the 10 Moving Average line and we saw the stock close at 0.88 (-2.22%).
What the chart tells me is that although we dropped a bit further towards the 0.85 the action today was promising. The volume of shares traded has decreased and with that also the number of sellers. I see this as a positive sign meaning the consolidation is just that, a small consolidation which only purpose it is, is to get out of the overbought zone.

The other thing that's positive is that although the stock opened lower at 0.87, we still managed to close higher at 0.88. Besides that, after opening there even was a run up to 0.90 which also was the high of the day. So that tells me that although the bears might have won an earlier fight, the bulls are already showing their horns again. Already after just two down days this stock is already showing strength. Strength in the holders that is!

The point where sellers are few and far between might even be nearer than any of us might think?

The Relative Strength Index is already nearing the 50 line which is a comfortable zone for a stock to be in and it is again attractive to investors. My guess is when we either hit or dip a little under the 50 line we can expect renewed interest, a heavily reduced number of sellers and a heavily increased number of sellers.

The stock is still not out of the woods yet but today's action definitely should be of some comfort to holders who entered in higher, for the rest of us lower holders even more comfort and for new to be holders maybe next week will provide us with a perfect entry point...or rather a train ticket on the Orko Silver Speed train to the next stop which is a close and stay above 1.00.

Monday's action is probably wholly dependent on what happens on the COMEX next week. I don't really think the consolidation in gold and silver is over as of just yet.
The US dollar

is trying to start its rally after it dipped under the 76.00 last Wednesday. I see the dollar getting no further than 78.00 though. After the dollars last failed attempt to breach the 78.00 gold will not only start its march to 1033 but it will also break the all time high.

The writer is x-times as bullish on silver then gold.

For Monday I'm hoping we get a bit lower to the 0.85, until that happens we shouldn't look to hard for any reversal or an end to this consolidation.

As always, take care and prosper!

YeOldGoldNugget's links of interest

Thursday, September 24, 2009

Orko Silver Chart September 24, 2009

By 79Atoms on Thursday, September 24, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Lets start with a brief summary from the last couple of days, OK? So, we had an RSI indicator turning down on the 18th of September, after that we had our Japanese candlestick pattern called a Doji which was put on the boards on the 22nd of September, we've had yesterday's closing in the red as the start of the confirmation of the downtrend together with a little tap on the 10 MA line....and today we've had an increase in volume and NO, those were not buyers and we're looking at a downwards bending MACD indicator.

If I were in the woods right now I'd be more concerned about bears on the prowl than I would be about stampeding bulls. YeOldGoldNugget looks around and comes to the conclusion he ain't in Kansas no more! Come to think of it, this looks vaguely familiar, lots of green thingies, large brown skyscrapers with lots of green thingies on them, ground feels kinda squishy and moldy,...definitely not in Kansas any more! At least I don't have to deal with them stampeding bulls anymore which they had over there. So, that settles it, we're in the woods, but not just yet out of the woods, if you're following me. So, no more bulls to trample me, that's a good thing right? I wish! No, usually with my kind of luck getting rid of the bulls I just might have gotten in an even worse predicament. Anyone know if there are any bears lurking around Vancouver woods?

For those who didn't sharpen their pencils today, the above written piece was me explaining how I think we now have a definite confirmation of a stock looking at a consolidation.

So, imagine yourself asking that same old same old question, like the one you ask when your wife trashed her car once again

how much is this gonna cost me?

Translated to the stock market, how low is this gonna go.

Well, take a look at the chart and in particular the wide green translucent bar I placed on the chart at the 0.85 level. Now honestly and I am really really serious here and yes, I do get those questions so again, NO, I do not have a hat filled with little pieces of paper from which I let my wife pick one each day. Please, some credit :-)

Well, the 0.85 didn't like a rabbit get pulled out of some hat. This time it came out of a lot of earlier resistances and supports. Not only that, if I draw some Fibonacci lines from the low to the high I get the exact same support. Coincidence, hardly!

So, if our precious Orko Silver is to do some much needed consolidation then I'm looking at 0.85 as a bottom from which to gain momentum and the start of the next upleg for Orko looking to make a break above 1.00 and 1.10. Myself I'm looking at more bullish values cause I also think that when we get to that point silver will have already started its similar next leg up. Looking at the chart of gold I can see a possible low of 960. Not saying it will go down but if its going down it will probably head to those regions before you can expect renewed interest. The same is true for silver.

The writer does need to point out that we still did not really close far under 0.90 so technically, this stock is still in an uptrend. So to say we are 100% looking at a day in the red tomorrow,...I'd say uh uh!

Then one last thing I wanted to show you.

Daily chart (Doji - March)

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Take a look at the end of March 2009. What you see there is not just any ordinary Doji, that's a Long Legged Doji and if found on a stock which has seen an uptrend, not a very pretty picture I tell you. If Orko Silver was trading on the Tokyo Stock Exchange and we were standing in the TSE trading halls and traders would see a Doji like that, they would be chanting, Doji Doji Doji Doji Doji Doji,...and the stock would drop from the ensued selling.

Thanks for reading, hope you enjoyed and see you tomorrow. Take care and prosper.

Source : picture Vancouver woods. My thanks go to the High Energy Physics Group of the University of Illinois.

YeOldGoldNugget's links of interest

Wednesday, September 23, 2009

Orko Silver Chart September 23, 2009

By 79Atoms on Wednesday, September 23, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Well we closed in the red that's for sure! The action of the day brought us a low of 0.90 which you can see on the chart is where the Moving Average 10 line runs. This means that if we cross that line that means the stock will go below the average of the last 10 trading days which is definitely not a bullish sign.

But coupled with that negative, the stock to me is still considered to be in an uptrend until we get another down day and a move beneath that 10 MA, beneath 0.90 then I mean.

10 MA Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

So then, what are we looking at for tomorrow. Well, I see the volume is decreasing since today only saw 178K shares changing hands, going down from earlier days which saw volumes of 250K and more. Is that bad? Hmm, hard to say, doesn't have to be really.

Even with all the indicators in the red (see 1st chart) I'm still looking at a stock in a strong uptrend. So based on that I seem to end up with conflicting indicators. You see, it could very well be that just tapping beneath the 10 MA and crossing the 70 RSI line was sufficient enough to give this stock a breather and that we might close in the green tomorrow.

Today with the close in the red it should have been a confirmation of the Doji and the consolidation, however to me,...its NOT! I still do not have the feeling that this thing is meant to go down. Don't know why but that's how I feel. The trading today was not of the kind that I was expecting after being so long in the overbought zone and last days close with a Doji. The stock only went down 1.05% and saw a close of 0.94.

But markets never seize to amaze me so I will have to go against my gut feeling and say our precious silver stock is looking at another down day tomorrow.

Take care and prosper. Oh and do spare a moment to vote on the poll and take part in the survey I posted.

YeOldGoldNugget's links of interest

One month anniversary Survey September 23, 2009

By 79Atoms on Wednesday, September 23, 2009

So, my Orko Silver blog has been up and running for a month now. I thought a small survey was in order to better figure out the needs of my blog readers.

Therefore I would like to make a small request to those readers that do have some comments or points they'd like to raise...to just post a comment by using the form under this article. So, having followed and reading my blog from time to time...what do you think I could improve or add? I will write down some questions here but its an open survey so if you have any other remarks or things you'd like to discuss then that would be fine. Don't feel confined to the questions posed below.

Are there any things you'd like to see me do differently?

Are you missing anything now which you think would be nice to have included in my daily blog?

Is the daily chart I do each day of any help to you?

Are there any other requests I should know about?

Anyone have any ideas on other potential silver stocks? If you know any and the requests are plenty I will certainly consider it and who knows, maybe another blog will come of it.

Also, what do you appreciate or like the most of my blog?

Do you have any other advice you think I should look into?

What do you think about the layout of the blog

Would love to hear from you and to those who do, thanks for taking the time to help me improve on the blog.

Bye

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Tuesday, September 22, 2009

Orko Silver Chart September 22, 2009

By 79Atoms on Tuesday, September 22, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Another very interesting day which saw a high of 0.97, a low of 0.92 and a close at 0.95 (3.26%)

Now, for the last days anyone who has been reading my blog will have noticed I've been very bullish on Orko Silver and with very good reason cause the prophecised 1.00 was broken and we've had a very good run up. However I am now wondering if we are at the forefront of a consolidation?

Do allow me to elaborate...if you take a look at the daily chart you'll notice that I put a 'Doji'

comment on the chart with a question mark.
Now, for those not familiar with Japanese candlestick patterns that won't mean much but to those who are familiar with them will know what to look for in the coming days if the confirmation comes.

Those not familiar with this pattern, a Doji is characterized by having a very small body, meaning that we opened and closed at the same price.

Now if that doesn't mean anything to you, allow me to confuse you even more, if you look at a Doji like a Dojo where a bear and a bull will engage in combat which lasts several hours and leaves no clear winner or loser...then that would be a Doji.

However, in this case the no clear winner part is not entirely true. The Doji we are seeing now has appeared after a strong uptrend. That makes a huge difference since a Doji on its own doesn't mean much. Combine a Doji however in a strong uptrend or a strong downtrend and the picture changes completely...in this case favoring the bear over the bull.

When a Doji appears on a chart on a stock which has seen a big uptrend, it combined with other indicators (RSI) points to a reversal in trend.

So basically, what we have to look at tomorrow is,...is the stock going to close in the red or in the green?
If the stock closes in the green, fine, no harm done and we can move on. If the stock closes in the red we'd have to decide then if this is really the start of a consolidation and how big or small a pullback we're looking at.

Other indicators are still pointing all upwards, so without the Doji I'd have written just the same outcome as previous days. Now, I'd say, I'm not so sure. I have to wait and see what tomorrows trading brings.

Take care and prosper...till tomorrow.

YeOldGoldNugget's links of interest

Monday, September 21, 2009

Orko Silver Chart September 21, 2009

By 79Atoms on Monday, September 21, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

The daily chart hasn't changed much since last Friday. We still have an MACD indicator in an upwards motion and with a wide gap so we are still looking at a continuation of the current uptrend.
The RSI indicator is pointing downwards but that is a signal I'm now deciding to ignore since this is merely because we opened lower today after Fridays 12% rally.

Volume has averaged down to about 278K shares traded which was to be expected. Why? Have a look at following chart and you'll notice that during Sunday nights trading session, silver took a beating (red line) and was brought down from 17.00 to around 16.60. So with lower silver prices, boring Mondays, lower enthusiasm and a lower volume we were bound to end this day in the red.

24h Spot Chart - Silver

Chart is courtesy of Kitco.com

However, if you look at the green line which represents today's trading action then you will notice that since Sunday we've started going back up again and that was also reflected in today's prices going to the end of the trading session.
We did see a low of 0.90 at opening but overall and with silver regaining much of its losses from Sunday we saw Orko closing at 0.92.

Also, the morning hours saw the most shares traded. I'm going to see if there is a trend somewhere :-)

All in all, not too bad a trading day for a Monday! As to what is in store for tomorrow, well, I expect another up day and most certainly hope that we will make another run to get to 1.00 and beyond. Lets hope for a close over 1.00.
Is that in the cards? Sure! Why not? Will it happen? Don't know! Do you? If so, leave a comment...

As always, take care and prosper!

YeOldGoldNugget's links of interest

Saturday, September 19, 2009

Orko Silver Chart September 18, 2009

By 79Atoms on Saturday, September 19, 2009

Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

Talk about sizzling hot action on Friday. Now mind you, I'm not saying that having a daily volume of 2.5 million shares traded like last Friday is out of the ordinary for Orko Silver. However, I am saying that this day and 2 others are.
I might even go as far as saying that whoever bought on Friday is the same person who either bought in January 2005 or October 2007 causing a decent run up in the price per share from that moment on.

When I saw that, that's how my writer's rant came into being.

Anyways, Friday morning between 10:37 and 10:41 was the moment that someone or uuuh moreones bought some very big blocks of shares. One at 10:38 of about 929K shares and the other one at 10:40 of about 425K shares...while the rest of the day saw a constant action of shares being bought to end the day with a total of about 2.5 million shares changing hands.

And honestly, to find a similar sort of action like last Friday we have to look way back to October 2007. Now, why I say or rather question whether this is the same investor is because hardened investors tend to stick to their guns and if they invested in it once and that made them a buck then they'd be more than willing to return if and when the fundamentals and technicals were just right.
And you bet your...

...that those fundamentals and technicals are just right, right where they need to be!

You'll notice we still have an RSI indicator which resides in the overbought zone, however, I'll ask you to move your eyes to October 2007, you'll see that in that rally there was a small pullback together with a dip of the RSI under the 70 before heading back up again and continuing the rally. It was a very speedy consolidation which didn't take any longer than a few days but did help to act like a slingshot and push the prices further up.

Now, why is this all so important you ask. Well, to me as one who studies charts, technicals and mining in general, I'll tell you, days, weeks, maybe months from now, other people will be looking at the exact same chart and will see the vested interest at certain points like an 0.95 now or the pivot point around 1.40 and so on and so...based on that these other people will also decide like myself that this thing we call Orko Silver is the next best thing to owning physical silver itself.

There is no bank telling you what to do, there are no fixed prices, no commissions to be paid, only taking place in your very own Silver speed train to sustained gains instead of with a bank to sustained losses. But that is just my opinion and those same opinions may vary amongst my readers and the market in general.

Now, there is always a word of caution to be mentioned here, not about Orko Silver in particular but in general. The moment the bigger buyers start pouring in they tend to have a bigger effect on the price of the stock if they choose to do so. Meaning if we take Orko Silver as example, if that was one buyer and he or she were to dump his or hers shares then that would bring down the stock by something like 0.10 - 0.15

Its a rough estimate - could be more, could be less, depending on how many scary-pants are on the train...or mind you already on the roof of the train if ya know what I mean.

Trust me on this, I've seen passengers buying tickets, watching them board the train with their luggage, nothing odd about that you'd say, but after boarding they did not act like normal passengers would. These hmmm how you say,

passerby's

as I'd like to call them, they don't just take their seats like ordinary folk, no sir-e, they instead with luggage and all go straight to the roof and start their journey from there. Odd? Haven't quite figured it out yet but I'm working on it, I'll be sure to let you know if I've got it figured out.

Now, to continue with the big buyer, I don't really mind cause if he or she were to dump his/her shares again I'd be probably be buying some of them :-)

But other investors new to the market might get scared easily and can't always distinguish between a correction or consolidation and a real downtrend and start selling their shares only to come to a later conclusion that they never got the opportunity again to buy in as low as they were selling them.

Come Monday, chart-wise, I'd say we go up, however being a Monday, slow trading day, we might just go sideways and close at 0.95 again. Trend is still upwards.

To another exciting day...take care and prosper!

Source of image Silver coin : http://www.goldeneaglecoin.com

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