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'Tis The Season For Gold Stocks

Commodities / Gold & Silver Stocks Oct 31, 2012 - 02:44 AM GMT

By: Donald_W_Dony

Commodities

Best Financial Markets Analysis ArticleGold and gold stocks typically start to advance in the 4th quarter. This year that pattern appears to be right on schedule.
Canada has a great number of gold stocks. Here are four that look as if they are starting the normal season movement.


San Gold Resources (SGR) is a junior gold exploration and production company that has recently pulled back to a main price support level. The movement over the past couple of days suggests that it is about to move higher.

Kinross (K) is a mid-level exploration and gold production company. K has dropped back to the $6.50 support line and is beginning to turn higher.

Yamana Gold (YRI) is also a mid-level gold production organization with a well diversified asset and property portfolio. Today's strong upward movement is a good signal for the start of higher levels to in Q4.

Eldorado Gold (ELD) in chart 2 is another mid-level gold producing company with a strong balance sheet. In October, ELD fell down to the main support line of $13.50. Over the last couple of days investor interest has started to build.

Bottom line: These four gold stocks appear to be starting the typical 4th quarter advance. The gold rise historically continues in to late December.

By Donald W. Dony, FCSI, MFTA
www.technicalspeculator.com

COPYRIGHT © 2012 Donald W. Dony
Donald W. Dony, FCSI, MFTA has been in the investment profession for over 20 years, first as a stock broker in the mid 1980's and then as the principal of D. W. Dony and Associates Inc., a financial consulting firm to present.  He is the editor and publisher of the Technical Speculator, a monthly international investment newsletter, which specializes in major world equity markets, currencies, bonds and interest rates as well as the precious metals markets.   

Donald is also an instructor for the Canadian Securities Institute (CSI). He is often called upon to design technical analysis training programs and to provide teaching to industry professionals on technical analysis at many of Canada's leading brokerage firms.  He is a respected specialist in the area of intermarket and cycle analysis and a frequent speaker at investment conferences.

Mr. Dony is a member of the Canadian Society of Technical Analysts (CSTA) and the International Federation of Technical Analysts (IFTA).

Donald W. Dony Archive

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