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Wednesday March 17, 2010
Mike Turner: 'Load up on gold'
by Mike Turner, editor Mastering the Markets
My program provides me with 30 different market indicators. Based on these indicators, I am loading up on gold. Do not buy gold when it is jumping higher. Wait for it and try to buy it this week on a down gold day. If I am right, we could have some down days this week and that is where you might be able to pick up another point or two. 
Now... what if I am wrong about gold and it drops and continues to move lower? The answer is simple... I ALWAYS assume a trade can move against me. This is why I have stops in place for every equity that I own. I strongly urge you to use them. Gammon I happen to believe that the U.S. Dollar will underperform against the Canadian Dollar, so owning a Canadian gold company puts your money into an equity that has backing of the strength of the Canadian Dollar and is poised to move substantially higher if my forecast is accurate. But, don't look for fundamentals (score of 35 out of 100) or technicals (5 out of 100) to impress you. They don't impress me at all. Like GRS, Aurizon Mines (NYSE: AZK) is another Canadian gold miner. And, like all these gold stocks, were it not for the its impressive forecast, it would be hard to justify owning these stocks. AZK's fundamentals are decent, coming in with an overall score of 56 out of 100, but the technicals for this stock are certainly not indicating it is in a 'Buy' mode. The technicals for AZK are just as bad as GRS, coming in at a dismal 5 out of 100. But, if gold does indeed take off to the upside as expected, this stock could generate a +50% return or more in a very short period of time. Actions to take: Buy GRS with a limit order at $9.58 Buy AZK with a limit order at $3.78 Learn more about this financial newsletter at Mike Turner's Mastering the Markets. |
News Flash
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I don't believe anyone can tell the future. But, I do believe a computer program can do something no human being can do. It can scan all of history and find those events that occur exactly on the same day of the week, month, year or decade, over and over again. 
Gold Inc. (NYSE: