-- Posted Monday, 26 May 2003 | Digg This Article
Never let it be said that the market doesn’t throw up opportunities to buy at dirt cheap prices, but don’t expect the big brokerage houses or market reports on the telly to broadcast it. We’re in a gold bull market, right? A gold bull market that is going to accelerate as the general financial crisis deepens. Last winter, when gold briefly touched $390, many exploration stocks were DOUBLE what they are priced at now, with gold back up to $370. That means one thing to me, it’s time to back up the truck. I don’t know what clowns would sell at current prices but who are we to complain? Suppose you buy one of these stocks at say $0.15 and then it stays at that price for several more weeks, or even a couple of months, maybe even dips to $0.10 – who cares? These stocks are going up by a factor of five or tenfold over the next several years (IMHO, of course). I’ve been relatively quiet recently because I’m working on my own gold and silver share website, but I simply have to come out of hiding to highlight these opportunities.
I’ll now give you one chart example to illustrate what I mean, and then, further down the page, list a bunch of good stocks that are trading at silly-cheap prices, go and look at the charts, especially the long-term charts and I’m sure many of you will understand what I’m driving at.
Take a look at the long and short-term charts for Coral Gold (CLHVF or CLH.V) below
Now have a look at these other ridiculously cheap exploration stocks:-
Bema Gold Corp BGO, a higher priced stock but a crackin’ chart, Caledonia Resources CALVF or CAL.TO, tremendous potential like Coral, Cardero Resources Corp, CDU.V, highly geared silver play, great fundamentals, Desert Sun DSM.V, terrific long term chart, huge upside potential, ECU Silver Mining, ECU.V, fine chart, dirt cheap now, Golden Star Resources GSS, beautiful long term chart, easy ten-bagger, TVI Pacific TVI.TO, colossal upside percentage wise, McWatters Mining MWA.TO, trampled down quality stock, Golden Phoenix GPXM, fundamentals shaping up nicely, Vista Gold VGZ, colossal upside.
I will be examining these stocks in more detail on my gold and silver share website, which should be up in a few weeks, address www.clivemaund.com . The list above doesn’t include everything I’ve found, there are plenty more.
I know some of you will think I’m going off my rocker waxing so enthusiastic, but this is no time for limp-wristed sitting on the fence. What I am seeing now is a tremendous opportunity and I consider it my duty to communicate it to the gold community. For sure, the really big action may not start until the bond market tops and the real estate bubble bursts, and that might not happen until early next year, but at these ludicrously cheap prices, why wait? – we may never see these stocks at such low prices again in this decade.
Clive Maund
email: clive.maund@t-online.de
Disclosure: I own shares in Coral Gold, Golden Phoenix and TVI Pacific.
Kaufbeuren, Germany, 26 May 2003
No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis.
-- Posted Monday, 26 May 2003 | Digg This Article
