YeOldGoldNugget's Blog Spot: White Knight

Showing posts with label White Knight. Show all posts

Tuesday, October 6, 2009

Orko Silver Chart October 06, 2009

By 79Atoms on Tuesday, October 06, 2009

Orko Silver Daily Chart

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

Well, we already opened higher at 0.90 which...well...,was bound to happen with silver gaining significant grounds again. Always nice to open higher but when it leaves a gap then well, lets just say I'd rather not have the gap there. Without it, I don't have to deal with it. Now, I always have that gap sitting there waiting to be closed.

Now, don't get me wrong, me personally, I wouldn't mind even if it looked worse than a gaping wound with puss coming out. Toss some alcohol on there, stick a band-aid on and lets get moving is what I say. Don't look back. But yeah, some people even when EXPLICITLY WARNED not to,...do look back. Oh well, those French fries do need some salt I suppose, has to come from somewhere.

The morning hours quickly brought our high of 0.95 on the boards. About 80.000 shares were bought around the high of the day so that didn't hold. At the end of the day someone did however manage to get some shares at 0.90 before the stock closed at 0.93 +0.060 (6.90%).

Chart wise Orko Silver looks set to break the 1.00 tomorrow. Also, beneath 0.90 bad, above 0.90 good. Red bad, green good. Lets keep it simple for tomorrow.

Gold Spot Daily Chart

Chart is courtesy of marketclub.

Talk about sizzling hot action! That takes care of the all time high that's for sure. Thank you White Knight for fulfilling the first part of what will become a long and arduous quest.
But for those few in the know...between 8 and 16..., 'seemed like such a great time to be shopping for gold.' ;-)

Rumors rumors rumors, so many rumors. If any true or come to transpire, I dare not write here the figure I have in mind for gold for fear of some sort of Middle Age thinking grabbing hold and thus also the part where people will be condemning me a heretic to be burned at the stake for even mentioning such an outrageous number.

Well OK, so I don't have to say it aloud do I? If I just point somewhere to the sky and to be more specific to any of the fainter and dimmer stars hardly to be seen with the naked eye? How long would it take for light to get from there to here I wonder??

Silver Spot Daily Chart

Silver Spot Daily Chart October 06, 2009

Chart is courtesy of marketclub.

Seems this Knight is packing some silver too. Like gold, this silver chart is also very bullish. Doesn't matter if I check the daily or weekly. If this thing breaks 18...and it will then I think I will assume the same position as I did with gold. I'd start pointing towards the night sky.

Fact of the matter, don't waste your time reading this article. I'm blinded by the precious shinies which are clouding my judgment.

Oh yeah, one more thing I forgot, I was thinking about adding the US dollar chart but it would only serve as a thorn in the eye for my three otherwise bullish charts.

YeOldGoldNugget's links of interest

Monday, October 5, 2009

Orko Silver Chart October 05, 2009

By 79Atoms on Monday, October 05, 2009

Gold Spot Daily Chart

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

Today I will start off by showing a couple gold charts to try to better visualize as to where we are right now and what we're looking at near term (you can do your own diligence as to where I see silver going after reading this). This is always one of the hardest things to do reading the chart of gold at a time like this where gold is trading just below, just over or looking to break the all time high. Lots of different factions with opposing interests will each try to do their bit in getting this thing either to keep from breaking the all time high or breaking it and leaving it wondering what the heck just happened while already history books have marked that moment as the last days of the three digit gold price.

What do I think? Well if this were a simple neon sign I'd say it was something in the likes of this :

A tarot card reader would tell you its what the cards are telling him, a poker player will tell you its how the cards are played and how the deck is stacked. For me, its a combination of the three. The cards in this case are telling me the next card in the deck will be the ace, from the looks of the dealer I'd say the deck is rigged, in the corner of my eye I see a faint shadow moving as swiftly as the wind, I know the deck rigging issue is not a problem anymore, as for how its played, well, how do you play a Diamond Diamond Card Figure

Royal Flush on the river?

Now to get back to the White Knight issue, lets take a look at following chart.

Gold Spot 5 Minute Chart

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

I don't really think that needs much explaining. Pretty much every action that drove the price too far beneath 1000 got immediately countered by strong consistent counter buying keeping the price above 1000. Definitely a tug of war going on this time. Neither last years rally in March 2008, nor this years rally in February 2009 have seen this kind of highly bullish action.

Something is afoot and I honestly can't tell you whether this means we will actually see someone's foot ending up someone's behind for failing to short gold this time around or whichever way this goes, if this were like the doomsday clock it would already be pointing at 5 minutes to midnight. I'd leave it to all to make up their own minds on that one.

Orko Silver Daily Chart

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

Orko Silver was quite the surprise,...is what I would have said if I were writing this last week. However, looking once again at what happened with the price of silver one need not look to far for possible reasons why this closed in the green today. Like gold, silver made its similar high spike a couple minutes for noon. Maybe that's what it is indicating.

HIGHNOON.

Yes, that must be it, like in the Wild West stories, coincides perfectly with the spike.

Orko Silver opened at 0.82 which was quite a bit lower than Fridays close of 0.85. This lower opening did however coincide perfectly with the 0.82 of just a couple weeks ago from when this rally to breaking the 1.00 started. We already saw the 0.87 on the boards during the morning hours but it didn't hold. During the rest of the afternoon and with silvers steady up march each other passing hour added another Canadian cent and we managed to close at 0.87 +0.040 (4.82%).

I need Orko Silver to trade above 0.90 again to confirm the bottom at 0.82 and to confirm the end to the recent downward momentum and with that the start of another run up to break and stay above 1.00.

Exciting times ahead. As always, take care and prosper. If anyone has any thoughts they'd like to share, be sure to leave a comment.

Thanks go to Icons etc for the Neon icons.

YeOldGoldNugget's links of interest

Saturday, October 3, 2009

Orko Silver Chart October 02, 2009

By 79Atoms on Saturday, October 03, 2009

Well yesterday was not as bad as the day before but still bad enough for the broader market. US job losses unexpectedly accelerated last month and the unemployment rate reached the highest level since 1983, signaling any recovery in consumer spending and economic growth will be slow to develop.

Well, those were the headlines anyway which started the sell off and when you have unemployment soaring to those levels then what viable economic recovery is there actually is what investors think? My views are a little different then some since I do not have to wait for a report like that to know that the figuratively speaking manure has already hit the fan and has already ricochet off it and on basically all who have a bank account and take part in our current financial system.

You see that leaves me looking not at the markets but at investor sentiment. That's even harder to do. Me, I'm already aware that no matter what the news may say about recession over, investor sentiment up and all, this recession is far from over and investor sentiment is not 'really' up. What kind of polls can claim investor sentiment is up and with the smallest event have them running for the exits so to speak.

Can anyone really blame them after last time? So no, I definitely can't, that's just the media and their rose colored view creating the perception that investor sentiment is up and we're getting out of this recession while us contrarians know its not and leaves us at the behest of events like these.

Know this though:

In times like these Gold and Silver are and have always been the safest investment. Since ancient times until our technological and digital age. Will our age be different? Me thinks not!

Gold and silver held up pretty well after AGAIN being beaten down at the start of comex trading in New York but surprisingly they immediately surged higher (writer learns later that this is due to actions of the White Knight *) and in no time regained all the previous losses. Gold and silver went a bit sideways after that but this kept gold again neatly at the 4 digit mark of 1000$.

Someone doesn't want this gold price to drop too far under the 1000 mark that's for sure! Does someone think this is also mainly due to China? That shouldn't have to be the only reason, there are probably hundreds of reasons to write down why gold has held its bearings so well. The China aspect is in my opinion one of the major reasons.

Daily Chart

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

So, to the chart of the day...Orko Silver opened at 0.85 which is yet another Canadian cent lower than Thursday. At 10:30 AM we already had our low of 0.82 on the boards. We did however see some action in the afternoon which looked like we were going to end in the green for the day but due to some late selling the stock managed to end lower and close in the red at 0.83 -0.010 (-1.19%).

So to me as someone who watches the stock daily,...the interest is there for this to go higher. That's a fact...in my opinion then cause there's only one person doing the writing here ;-)
Sadly October already being a tough month for stocks and the gloomy report about the more than expected job losses brought everything down including stocks who were meant to go up.

So that means we are now looking at a possible new target of 0.80 to look for renewed interest or a possible bottom. Also one more thing investors have to consider, will this year be different than last year? Will the already hurt and still bloodied junior mining market again bear the brunt of last year's panic selling or will some of the money that will flow out of different sectors start flowing into gold and silver bullion and with that also the junior market?

Around 0.80 till 0.83 there was the start of the rally so that also plays a part to look for where this thing is going to bottom out. The 0.805 coincides with the 50% Fibonacci line which also could act as a bottom and a target for us to look at.

And to end this week's chart of the day I'd also like to provide my last statement for the week.

The moment for gold to break the all time high is getting ever nearer.

* Reference made by Ed Steer from Casey Research to the mysterious person or persons supporting the gold price after the bullion banks again tried to pull down gold and silver on Comex.