Just a short update on the precious metals and juniors mentioned before in a blog "IT's PM Seasonal Time- Tiny Silvers...
Clearly from the action of gold and silver, a breakout is in the works. Precious metals probably have more commetary this weekend than any other sector. Suddenly the sector is alive and all experts are chomping at the bit to give their 2 cents. I won't give the reasons why gold/silver is rising, as that is due to many factors and simply....."cause it's just time".
So...if it is time, then the junior silvers/gold explorers should be in the early stages of breakouts shaping up for an extended run into 2010. The Venture does look promising and you can ascribe a couple bullish patterns to the current chart....call it a potential bullish flag, or a breakout of a downsloping wedge. In either case, the MACD is crossing over upwards and RSI in bullish mode, so your right in both cases. As the main index for the juniors moves, thus the participants go.....and the ones I mentioned last week...Bear Creek, Orko Silver, Great Panther, all looking very impressive.
The Currency Play for non Canadians.......
For our American and Euroland Friends, there is the double opportunity of currency play in these juniors. It is basically a play on the Can dollar vs the Euro- USD - British Pound . For further comments on Orko Silver and curency.....the link ...............http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=27428790&l=0&r=0&s=OK&t=list
* disclosure - I own Orko and Great Panther shares