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Old 09-03-2009, 09:02 PM   Nav to Top  #1
andre3k1
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Default IAG - IAMGOLD Corporation

Originally Posted by COMPANY PROFILE
Toronto-based Iamgold is engaged in exploring for, developing, mining, and acquiring mineral-resource properties throughout the world. The company is a top midtier gold producer, with annual production 920,000 ounces in 2007. The company has nine operations in North America, South America, and Africa. The company also owns two nongold assets and a number of development projects. Iamgold does not hedge its production.
  • IAG rose more than 16% today trading on unusually high volume
  • IAG hit its 52-week high today at 14.59
  • It is up .5% in AH (as of 20:00 EST)
  • September is traditionally the strongest month for gold.
  • Institutions are getting in to IAG to ride the September wave.
  • Company Website

Originally Posted by More Commentary
Gold is trying to break through the $1,000 level, and silver has moved up another 5% in one day to a level above $16 an ounce. These are fairly impressive moves over the past two days, and may signal that the market-movers are going to test the higher levels many of us have been waiting for.

My sources are confirming that there is some major, international buying of precious metals going on, especially in Europe and Asia. Some rumors are also suggesting it's a "just in case", short-term trade reflecting uncertainty about the worldwide economy.

Chris Vermeulen, who writes at the TheGoldandOilGuy.com, wrote a special report last night which I'll share with you thanks to Chris' permission. Here's what Chris wrote and I'll let you draw your own conclusions:
"Another crazy week in commodities with precious metals and precious metal stocks surging higher on heavy volume, while natural gas and crude oil move lower. Money seems to be rotating out of energy and into precious metals."
Spot Gold Bullion – Weekly Trading Chart
Gold jumped higher today breaking out of its 6 month pennant pattern. If prices can hold into the weekend then I expect the $1000 per ounce to be reached quickly. Also Gold stocks took off like rockets, which are a strong sign that gold will follow through on this breakout. It will be interesting to see what happens from here.


Read the rest here: Seeking Alpha
I believe that this one is going to continue to rise in the next couple days/weeks. If you want to invest in anything gold-related, here is your pick!

I'll keep updating as more information pours in. Thanks to my dad for the tip, ha!


--> attached is a 3 month/1 day interval chart where I drew some channels, circled the volume and added some notes. sorry the drawings suck, that is one thing that I have not yet mastered in TOS.
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File Type: jpg IAG.jpg (261.9 KB, 2 views)
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Last edited by andre3k1; 09-03-2009 at 09:07 PM..
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Old 09-03-2009, 09:12 PM   Nav to Top  #2
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Arrow Technical Studies

TTM Squeeze is looking extremely promising
MACD is considering a crossover
MFI looks promising
ADX with DI+/DI- shows that the DI's are about to cross each other in favor of this stock going up
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Old 09-04-2009, 03:01 AM   Nav to Top  #3
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Awesome post Andre, these guys are really on a tear this year with gold bugs hedging the USD. Added to my watch list and will hopefully see some pullback after the traditional Sept. gold pump.

Other SR users take note: This is what a proper stock pick *should* look like!
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Old 09-04-2009, 03:25 PM   Nav to Top  #4
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stock looks to be consolidating today. I'm still waiting for my perfect entry point. no rush, i'm expecting to hold on to it for a month or two.
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