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September 30, 2009 / Jeb

General Moly (GMO) Approaching Another Move, Adding Under $3.10

Since my original recommendation General Moly is up 50%.  I still believe my long term target of $5 will come sooner than later as the price volume action on the chart is excellent and appears to be a classic winner.  Right now molybdenum is around $13.50.  General Moly is considerably undervalued and the best molybdenum play on the market.  This could be the stock that could catapult a portfolio as it is a leverage play on the world economy especially on the demand of molybdenum.  Chinese is becoming a net importer rather than exporter.  With the global economies recovering and the increasing need for molybdenum, General Moly will continue to make major gains.

GMO

As you can see by this classic ascending triangle pattern and volume confirmed breakout that this pullback at $3 is a gift.  I am continuing to add to my positions at these levels and expect the trend to continue higher.

Disclaimer:  I personally own shares in General Moly.

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2 Comments

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  1. lou / Oct 2 2009 9:53 pm

    thanks for the tip! i’ll be adding more gmo also to my portfolio also ! excellent stock!

  2. Skater / Oct 6 2009 8:59 am

    Good tip ! Could this be another UXG where you have been calling this one to rise without success? Why isnt UXG responding to gold’s massive rise?

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