Thursday, July 17, 2014

Tesla (Nasdaq: TSLA) Stock's Bullish Long-Term Outlook Boosted by China Mandate

Tesla Motors Inc. (Nasdaq: TSLA) stock is known for its short-term volatility, and volatility was once again the name of the game this week. TSLA stock jumped as much as 4% yesterday (Monday) from its open price, before dipping as low as 3.7% today.
Investors can expect TSLA to remain extremely volatile in the short term. Seemingly every week, or even every day, a new story breaks that sends the stock up or down accordingly.
But recent news from China solidifies the case for TSLA stock's long-term potential...(more)

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Billionaire Sprott – The Bank Of England Gold Vaults Are Empty /
As the gold and silver smash continues for a second day, billionaire Eric Sprott warned King World News that the Bank of England gold vaults are empty and there will be a price to pay for what Western central planners have done.  The Canadian billionaire also warned about the banking system.  Below is what Sprott, Chairman of Sprott Asset Management, had to say in Part I of a remarkable series of interviews that will be released today.
Sprott:  “We have the Chinese coming in and buying an extra 1,500 tons (of gold).  We will have a GLD metric that could be as much as 1,000 tons just this year, year over year.  The Indians haven’t changed the laws yet but I think that will be forthcoming, and they can get back into normal buying mode….
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AngloGold Ashanti Limited (NYSE: AU)

AngloGold Ashanti Limited operates as a gold mining and exploration company. It also produces silver, uranium oxide, and sulphuric acid as by-products. The company has 21 operations comprising open-pit and underground mines, and surface metallurgical plants in the Americas, South Africa, Continental Africa, and Australasia. As of December 31, 2013, it had proven and probable ore reserves of approximately 67.9 million ounces. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.
To review Anglo’s stock, please take a look at the 1-year chart of AU (AngloGold Ashanti Limited) below with my added notations:
1-year chart of AU (AngloGold Ashanti Limited)
AU had formed a relatively clear down-channel chart pattern over the last (4) months. A channel is formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, any (3) points can start the channel, but a 4th point or more confirms it. You can see that AU has several points of channel resistance and support. Earlier this week the stock broke through its channel resistance.

The Tale of the Tape: AU broke through the resistance of its down channel. A long trade could be entered on a pullback down near the prior channel resistance. A close back inside the channel would be a bearish development instead.
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George Soros is Buying These Gold Stocks

George Soros, one of the world’s best-known and savviest investor, has been bulking up his holdings of gold and silver stocks.
According to his latest 13F Securities and Exchange Commission filing from May 2014, instead of buying physical gold and silver, Soros has been building positions in precious metal mining companies.
That’s likely because some mining firms stand to benefit more than metals themselves when prices rally because of the essential leverage in the business. (more)

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