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August 23, 2009 / Jeb

(GMO) General Moly Perfect 50 Percent Retracement, Second Opportunity.

General Moly as I have previously stated is one of my ideal situations.  These excellent patterns usually take place on stocks that have not been covered by the mainstream.  You won’t find this stock talked about on CNBC or Investor’s Business Daily until it has moved into production and is attracting the public investment community.  These patterns are apparent to experienced traders and diligent researchers.  What I do here at Gold Stock Trades is to develop a collection of  awesome charts and weed out only the best with the best risk to reward ratio.

One day General Moly will be talked about to the general public but probably after being taken over by a Thompson Creek or Freeport Mcmoran at a much higher price.

GMO 6-23

General Moly has broken out of saucer formation and has created a platform which is an ideal buy point before a highly probable breakout at $3.  The next move will probably move to $4 but breakouts from these formations are generally quite powerful and overshoot targets.

Don’t miss this rocket.  Come on a take an exciting ride.

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4 Comments

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  1. BioDoc / Aug 24 2009 2:52 am

    What are you proposing in this particular post…you are buying and holding GMO for the long haul when the news eventually talks about them or you are just trying to make a short term 30% profit and get out?

    • Anticipate Opportunities / Aug 24 2009 2:33 pm

      I am holding for the long term.

  2. jturner / Aug 24 2009 9:09 am

    I agree that this company looks good from a technical perspective and would like to thank you for informing your readers of this. On a related note, I think that the fundamentals for gold related assets are very strong, as the government’s easy money policies should lead to a higher gold price, which will benefit many of the junior mining companies, such as Aura Minerals, which recently bought three mines from Yamana and can now start generating positive cash flow.

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