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January 15, 2010 / Jeb

General Moly (GMO) Poised To Move Higher, Steel Stocks and Molybdenum Moving Higher

In December I wrote about where General Moly was probably going to bottom.  It turned out it was a bottom and huge volume pushed the stock higher.  Steel stocks are moving higher and at the moment one of the strongest areas in the market.

The best way to play the recovering base metals market and reflation is to buy a stock that is undervalued with major undeveloped assets.  General Moly is still undervalued and providing another opportunity to add a position.  I do not expect this stock to stay this cheap for very much longer.

GMO has had three major accumulations during this bottoming process.  These are usually major institutions or syndicates who buy at the bottom with the patience to wait.  

I did not expect GMO to provide additional opportunities as I believed that astute investors from a larger copper company, Asia or another molybdenum company would buy them out.  This has not yet occurred and this benefits us as we have a second chance to buy before it goes into new highs.

I believe GMO will hit new highs in the next couple of weeks.

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7 Comments

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  1. lou / Jan 18 2010 11:47 am

    our other buddy just picked dennison as one of his next picks… thinking all his jets players will pick it up for their portfolio…this is good…ya!

  2. lou / Jan 18 2010 11:52 am

    may his god bless him for that — plus with a record of 9 wins and 7 losses – his jets team is going to need alot of blessings to beat a team of 14 wins and only 2 defeats….gonna be a good game i hope– chckn wngs ,pizza and diet pepsi here i come!

  3. lou / Jan 18 2010 3:17 pm

    hmm didnt realize jets won against the colts already this year…forgot about that….can they pull it off again? joe namath im sure will be rooting for his old team… can the jets pull it off against the broncos like they did in superbowl 3 with joe namath ? should be a good game !

  4. lou / Jan 18 2010 3:20 pm

    i meant can the jets pull it off against the COLTS! like they did in superbowl 3 with joe namath……..DUHHH must be getting old ,,maybe too excited with the way tgb has been moving up ….yeah thats it !

  5. lou / Jan 19 2010 5:46 pm

    hey teacher what does this mean bqi is selling to canshale ? is this good or what?

Trackbacks

  1. General Moly Finds Major Partner in Chinese, Major Breakout! « Gold Stock Trades
  2. General Moly (GMO) Poised To Be Largest U.S. Moly Only Miner « Gold Stock Trades

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