Today a new high was made in gold. Impressive yes, unexpected not really. This commodities will continue to rise as long as USD is being hammered and the world is fearing a breakdown in Euro zone.
I have mentioned previously that my strategy for markets right now, is when I am feeling bullish I long gold / silver mining stocks, some of these that have done extremely well are: AXR, FR, SBB, GPR, FVI, EDR.
If I am feeling bearish I just stick to inverse ETF to short the stock markets.
Currently, I am holding only SBB, with a Buy - stop on FVI at 4.64
I also mentioned previously that the $5 stock range is interesting, as it seems that additional investors get involved after this price level is breached for junior mining companies.
Daily chart of SBB below
Some strong volume has recently entered the market as you can see last week there was a massive increase in the price. I picked up on the pull back.
What is excited is a release at 4:20pm after market close from Sabina Gold and Silver corp on the final 2010 reading for their mining properties.
Here is the Article from marketwire
Also the report from the company website
The highlights are the following
"Hole 10GSE136 returns 8.74 g/t Au over 79.9m including 45.20 g/t Au over 6.0m and 25.27 g/t Au over 4.9m
Hole 10GSE140B returns 18.95 g/t Au over 4.35m and 26.43 g/t Au over 2.9m"
Based on previous results for the same property these are significant results. This stock will be very interesting to watch this week.
Also they have targeted potential drilling targets for their 2011 exploration program.
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