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Two Exploration Stocks to Consider

by Rick Ackerman on September 21, 2009 12:01 am GMT · 8 comments

[We often feature the work of our friend and colleague Chuck Cohen, a NYC-based investment consultant who specializes in mining companies. Below, he explains why it is time for those who have been straddling the fence to buy junior gold shares.  He concludes with two specific recommendations that trade over-the-counter for less than $1.]

Rick has asked me to write about gold with a focus on the junior mining companies, so here we go, along with a couple of specific recommendations. I tried to point out the pros and cons of buying the juniors last month, but let me now make a quick refresher. I also suggest that you go back to Rick’s August archives to review my articles on gold and the junior sector.

Advantages of juniors…

– They have been beaten down in price due to the credit squeeze last year. » Read the full article


Rick's Picks for Monday
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ESZ09 – E-Mini S&P (Last:1061.00)

by Rick Ackerman on September 21, 2009 12:01 am GMT

The futures have spent two days in what looks to be a tortuous consolidation, but they don’t look ready yet for another surge higher. If and when they resume their suicidal climb, there are no targets above that look like bet-the-farm shorts.  However, the two that I find most compelling, both from the weekly chart, are 1140.00 and 1159.50.  Pivoteers will notice that that the summer selloff was not sufficient to give us a legitimate B-C pullback, since it did not equal the required 0.618 of k-A.

GDX – Gold Miners ETF (Last:45.92)

by Rick Ackerman on September 21, 2009 12:01 am GMT

I posted some targets for this vehicle in the chat room the other day but missed one that could have immediate relevance: 48.53.  Notice in the  weekly chart how last week’s high fell just 13 cents shy of the target.  That’s close enough, and the target has been long enough in coming, that we should be prepared for a significant pullback — one lasting perhaps 2 to 3 weeks. If the pullback turns out to be small stuff, however, and GDX pushes above 48.53, we would infer it’s headed for at least 52.14, the ‘D’ target that results when you slide down to the one-off low at 17.59 recorded last November.

GCZ09 – Comex December Gold (Last:1010.30)

by Rick Ackerman on September 21, 2009 12:01 am GMT

Just a few more baby steps and the futures will succeed at something that has haunted the long-term picture since February. At that time, a sharp, four-month rally narrowly failed to get past a key peak at 1028.00 recorded seven months earlier. If the current thrust tops 1028.00, it will create a quite powerful bullish impulse leg on the weekly chart. And incidentally, if the rally fails to get past gold’s all-time recovery high at 1060.00 (basis the Comex December contract), it could conceivably create a camouflaged entry opportunity on the weekly chart.  That would be rare indeed.

$DIA – Dow Industrials ETF (Last:166.43)

by Rick Ackerman on October 24, 2014 1:27 am GMT

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$AMZN – Amazon (Last:279.20)

by Rick Ackerman on October 24, 2014 12:30 am GMT

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$TLT – Lehman Bond ETF (Last:119.69)

by Rick Ackerman on October 23, 2014 2:51 am GMT

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$AAPL – Apple Computer (Last:104.99)

by Rick Ackerman on October 22, 2014 8:18 am GMT

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$JNK – High-Yield Bond ETF (Last:40.43)

by Rick Ackerman on October 21, 2014 9:42 am GMT

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$CLX14 – November Crude (Last:83.00)

by Rick Ackerman on October 17, 2014 1:15 am GMT

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$HGZ14 – December Copper (Last:3.0100)

by Rick Ackerman on October 6, 2014 9:30 am GMT

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$SNIPF – Snipp Interactive (Last:0.3400)

by Rick Ackerman on September 5, 2014 3:05 am GMT

I first touted Snipp Interactive back in January, when it was trading around 0.15. Although the stock subsequently fell to a dime, it has since rallied sharply, settling at 0.2562 yesterday. This is one of my favorite stocks, and I came away from a conference call with its CEO, Atul Sabharwal, eager to sing their praises. During that call, I hit Atul with my best idea, a sweepstakes-type promotion, but he was already three steps ahead of me, able to cite, for one, New York State’s rules and costs for exactly the type of marketing scheme I’d suggested.

Full disclosure: I hold 100,000 shares plus warrants to purchase another 50,000 shares.  But I hope that won’t discourage you from performing your own due diligence, since you are likely to be as impressed as I was when you find out what the company has been up to. For me, at least, Snipp (OTC: SNIPF) perfectly satisfies Peter Lynch’s rule that investors favor companies whose strengths and methods they can understand. Snipp does interactive marketing that allows clients to track results in real time. The results have been sufficiently impressive that the company has been attracting blue chip clients with little difficulty. Read more about SNIPP by clicking here.

From a technical standpoint, although the stock’s chart history is thin, it’s possible to project a near-term rally target of 0.2730. A tenet of Hidden Pivot analysis is that an easy move through such targeted resistance implies there is unspent buying power percolating beneath the surface. This is not a “hot tip;” indeed, Snipp’s story does not lend itself to the kind of hubris that will result in a $10 billion IPO. But it is an aggressive and imaginative pioneer in a rapidly developing niche, and its CEO has the kind of imagination, intelligence and energy that inspires confidence. _______ UPDATE (Sep 22, 8:30 p.m.): The stock has continued to rally, and the closest Hidden Pivot target is now 0.2668.  If that Hidden Pivot is exceeded on a closing basis for two days, however, a target at 0.3474 would be in play. _______ UPDATE (Sep 23):  Snipp has entered the Brazilian market via an exclusive marketing contract with Petrobas. Click here for the news release. ______ UPDATE (Sep 23, 1:57 p.m. EDT):  The stock has gone bonkers today, up six cents to within less than a penny of the 0.3474 target projected two days ago. _______ UPDATE (October 12, 9:20 p.m.): The stock has come down hard after peaking three weeks ago at 0.34, but I view the move as a corrective opportunity to accumulate more shares.


SIDE BETS for Monday

SIZ09 – December Silver (Last: 17.025)

by Rick Ackerman on September 21, 2009 12:01 am GMT

There are no clear targets for the correction begun from 17.690 on Thursday, so a Hidden Pivot support at 16.810 will have to suffice. A bullish reversal on the hourly chart would be signaled at 17.405.


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