3SOF

Hello,

This is a different approach to the recent short term trading setups I've been posting on this board.
I've been following MYNG on my watch list for a while, but now I think it's time to enter this setup... This post is just for discipline purposes, I'm posting my plan (trading setup), and I'll trade my plan.

Ok, this is the plan:
MYNG.OB (Golden Eagle International, Inc) is a small mining company, operating in Utah and Bolivia, stock has fallen to new lows on the last few months, with no upside correction.
In April, a big volume near the lows showed that a lot of investors had gone away from this stock, since then, stock has been on a little price range, which in my opinion suggests some discrete accumulation at this levels.
Right now, the top of the range is $0.0205 and the bottom near $0.0175.

There is no technical signal yet !
But a breakout of the $0.0205 level, with increasing volume, would be a strong buying signal for mid-term purposes.

Technical patterns have been working great on this stock, a Descending triangle in March, a descending price channel in April, and now this price range...
Company is making some changes on the board of directors, and I believe that this could be good.

Here's my trading setup on this one:
-   I'm buying now (before a buying signal)
-   My mid-term price target is somewhere between $0.0375 and $0.0425, which was the last reaction zone
-   My stop on this trade would be a new low on close (below 0.0175)

Any opinions on this trading setup ?

Best regards !

Great trade plan on the penny. 

Hey Rams,

I have noticed since i have been trading alot more pennies than usual that they have very diff. buy signals than regular stocks.

I have noticed that a lot of these penny stocks have cyclical patterns.  That traders of pennys must play all the time.  One I have taken notice is when the RSI - hits 30.  then start to see some accumulation, then a move up to 50-70.  Then once it hits RSI - 80 a sell off.

I think we should continue on this path on how to play penny's.  Because from what I am seeing is that when it's posted on here to get into the stock, it's already to late.

thanks
Saffey1

I've made a few bucks on MYNG last January  >:D
Enjoy your plan rams  ;) so I buy your plan  ::)

I'm in @ .021

The CFO has been buying this stock all the way down from .18, the last purchase being almost a million shares at .0259 in April 2005. Must think something of the company. In at .021, looking good

Quote from: saffeysite1 on July 08, 2005, 12:38:59 PM
Great trade plan on the penny. 

Hey Rams,

I have noticed since i have been trading alot more pennies than usual that they have very diff. buy signals than regular stocks.

I have noticed that a lot of these penny stocks have cyclical patterns.  That traders of pennys must play all the time.  One I have taken notice is when the RSI - hits 30.  then start to see some accumulation, then a move up to 50-70.  Then once it hits RSI - 80 a sell off.

I think we should continue on this path on how to play penny's.  Because from what I am seeing is that when it's posted on here to get into the stock, it's already to late.

thanks
Saffey1

Thanks Saffey ;)

Well, I don't trade pennies based on Technical Indicators, but I do love chart patterns ;)
Triangles, flags, H&S's, channels, Price Ranges... and of course the volume analysis.

Wish me luck on this one ;) (I've bough 3% of my equity @ $0.0205)  >:D

Quote from: anthony420 on July 08, 2005, 01:53:16 PM
The CFO has been buying this stock all the way down from .18, the last purchase being almost a million shares at .0259 in April 2005. Must think something of the company. In at .021, looking good

I must dig a bit more on this one... but at first sight, it looks like they are changing the house ;) and in a stock like MYGN, with a trend like this, it could mean a trend reverse for the upside.

Volume today is getting bigger...

I am also in :)   Applaud Rams

I'm trying to buy @ $.021 did I miss the train ?  :( :( :(

This stock is breaking the range, do you think it will go back to 21 ?

I was not expecting all this reaction today  :o

Now we have a breakout with big increasing volume, and if it holds like this till the end of the session, we have a strong buying signal.

Chart update:

The thing you really have to be careful with is since Frederick's post, the thing has moved up substantially. Is the move associated with the recommendation , or is it something else. My experience with these picks has been 3SOF start the ball rolling and then, unless there is really something behind the story, it will eventually fizzle out. BLYC is a great analogy.

It's a good stock, and very cheap.

Take a look at the website: http://www.geii.com/index.php and see the Bolivian Powerpoint:
http://www.geii.com/media/ppt/geii_cg_bol_sa.ppt

This could be a 10 bagger, if they start operating their Bolivian gold like they should ?

Now thats a plan(applaud)...good luck everyone in this  :)

Quote from: anthony420 on July 08, 2005, 02:31:27 PM
The thing you really have to be careful with is since Frederick's post, the thing has moved up substantially. Is the move associated with the recommendation , or is it something else. My experience with these picks has been 3SOF start the ball rolling and then, unless there is really something behind the story, it will eventually fizzle out. BLYC is a great analogy.

I understand your point anthony... But shall we stop talking about pennies ?  ;)
I'll follow my plan, and I'll try to forget any eventual «price noise» from todays session.

Quote from: Rogue Trader on July 08, 2005, 02:13:19 PM

I'm trying to buy @ $.021 did I miss the train ? :( :( :(

This stock is breaking the range, do you think it will go back to 21 ?

I don't believe you missed the train... This stock is not an High flyer, you should make your price with no problems.

best regards,

Keep the analysis coming. I think it is everyone's responsibility to do their own due diligence once you have made the recommendation. Some of these pennies have a good story behind them and it is these companies that we are ultimately looking to find. Keep up the great work.

I think your strategy is perfect Ramsburg... Finding the Penny before it breaks out is the way to do it..  You may not hit as many homeruns this way, but your not going to get hurt either if the breakout never materializes..

I'll watch this one closely and root for you all!

MYNG appears on STRONG VOLUME GAINERS on my scan at the end of day. :)

It looks a plane taking off  :o

I'll try to buy on a deep intraday

who is selling this beauty ?
I must buy a bit more, we may not see prices below .02 for a while   >:D

Quote from: J.Livermore on July 11, 2005, 10:42:35 AM

who is selling this beauty ?
I must buy a bit more, we may not see prices below .02 for a while   >:D

I don't know ;)
I'll just follow my plan...

Showing some signs of life ;)

Frederick,

      What's your read on the recent movement, or lack there of on MYNG. Your gameplan here still in tact??

Quote from: anthony420 on July 15, 2005, 01:19:52 PM
Frederick,

What's your read on the recent movement, or lack there of on MYNG. Your gameplan here still in tact??

Hi Anthony,

I was expecting a little more action after that breakout.
I'll wait a few more days, using the plans stop level...

best regards,

Frederick,
      I don't mind holding it mid-term because as you first mentioned, it appears there has been steady accumulation at these levels. In addition, the pullback has been on very light volume. Also, I'm intrigued by the constant buying by the CFO from .18 down to .0259 in April 2005. If there was nothing behind this stock, why would he continue to buy it as the price decreased Your thoughts??  Thanks

Frederick,

      MYNG has been basically stalled the last few weeks. I bought when you first posted at .0205. Should I have patience with this one or bail. I think if they can get financing for the project in Brazil, this thing really could fly. In addition, I like the CFO buying the stock. Please update. Thanks.

I like the stock, but it's not showing any signal right now... I still hold a couple of shares, waiting for a move...

Ramsburg,

Are you still in this one? I don't believe it has ever closed below your stop of .0175.

yes, keeping my plan... This trade is not going very well, but its not over yet.

Quote from: Ramsburg on July 26, 2005, 12:34:03 PM

I like the stock, but it's not showing any signal right now... I still hold a couple of shares, waiting for a move...

:-\

MYNG---down considerably....I called Sabrina and got her on her cell phone and she assurred me that there is nothing wrong with the company...they are in the middle of moving their office and should be done soon.   Do you have any idea how to judge a safe re-entry point.  I am an old woman of 61 and have no patience with people that short.  In short, it makes me very angry....but I have been in since .19 cents and I have to stick with it.  How can you win with the shorters????????

For whatever it is worth, it now appears to me that this price drop was probably due to Jason Hommel's last report release...he sold his shares and evidently his subcribers followed suit.  I think he bought his shares about the same time I did and his loss was 90% approx.

Jason wrote that the company did a small $100,00 equity financing to insiders at $.010 cents which promted him to sell out the next day.....so be it.....I would like to know the opinion of anyone here who has not been married to this stock like I have.

Thank you for listening to my rants....dh

Frederick,

     I was away last week and saw that there was some heavy selling in MYNG on Tuesday, hitting a low of .0125. However, the stock bounced nicely, briefly touching .017 on Friday and now trading around .0155. What would you do from here?? If they get funding, this thing could go crazy, however, if they don't, it is probably worthless. Your thoughts would be appreciated. Thanks.

Frederick,

       Any thoughts??

Frederick,

     I need some guidance on this one???? Please

Golden Eagle International, Inc. operates in the minerals industry in Bolivia, South America. The company acquires and develops gold and other mineral properties, mines gold bearing ore, and produces gold for market. As of June 30, 2004, Golden Eagle focused on two properties in Bolivia, the combined Cangalli and Tipuani Valley gold properties in western Bolivia, and the Precambrian Shield area in eastern Bolivia. The company also estimates copper reserves in its Buen Futuro property in the Precambrian Shield area. As of September 8, 2004, Golden Eagle had gold reserves of 97,500 troy ounces and copper reserves of 82,000,000 lbs.

Updating chart.  Bought in this morning at .0165

Nice pickup - I've been watching this since last Thurs. I was hoping for a small fallback and then another rise. This one may just be a straight up momentum play, in which case it's going to be hard to figure out a good entry / exit. Best of luck sir -

GOLDEN EAGLE INTL (OTC BB:MYNG.OB) Delayed quote data 

Last Trade: 0.018
Trade Time: 11:22AM ET
Change:  0.005 (38.46%)
Prev Close: 0.013
Open: 0.013
Bid: 0.018 x 5000
Ask: 0.018 x 5000
1y Target Est: N/A

  Day's Range: 0.013 - 0.018
52wk Range: 0.01 - 0.131
Volume: 2,204,300
Avg Vol (3m): 1,243,070
Market Cap: 12.12M
P/E (ttm): N/A
EPS (ttm): -0.011
Div & Yield: N/A (N/A)

Zoom...Zoom..Zoom...
Now @ +84.62% Volume @.....6,690,414
Has been as high as +103.85%

Hey Setravis....i noticed this moving and thought of you! you must be happy!

enjoy the ride


julia

Golden Eagle International, Inc.. The Group's principal activities are to acquire, develop and operate gold, silver and other mineral properties. The Group is a publicly-traded mining Company. The mining and exploration activities have been in two areas in the Republic of Bolivia. The first area consists of the combined Cangalli and Tipuani Valley gold properties in western Bolivia and contains our recent gold mining operations. The second area consists of our aggregate Buen Futuro properties in the Precambrian Shield area of eastern Bolivia. The Group operates through one wholly owned subsidiary, Golden Eagle International, Inc in Bolivia.

A small gold company with a nice developing chart, might be somthing to keep on the radar. Broke out of an ascending triangle yesterday and failed today to rally but the volume is there. like to see what happens the rest of the week.

-fousc

Here is a thread on this one with lot's of info.
Started by our main man Ramsburgh.
There some reading for you.


http://www.3stocksonfire.org/trading/index.php?topic=3806.0

Quote from: setravis on January 10, 2006, 11:36:34 PM
Here is a thread on this one with lot's of info.
Started by our main man Ramsburgh.
There some reading for you.


http://www.3stocksonfire.org/trading/index.php?topic=3806.0

Woops! i do a search before i post every topic to make sure i dont double post threads :-[ must have typed the symbol wrong................ :o

MYNG is on the move again.  They just started escavating in a new area in Bolivia that is heavily enriched with gold and copper.  This make 3 major areas of escavation.  I see the stock going to .10  any opinions.

Press Release Source: Golden Eagle International, Inc.


Golden Eagle Moves Several Steps Closer to Full-Scale Operations at Its C Zone Pilot Plant
Thursday February 8, 11:45 am ET 
Company Gives High Priority to A Zone Buen Futuro Gold and Copper Prospect


SALT LAKE CITY--(BUSINESS WIRE)--Golden Eagle International, Inc. (MYNG, OTCBB) announced today that it has moved several steps closer to full-scale operations at its C Zone pilot plant, contingent on financing and final feasibility.


The Company has received the completed modeling of the results to date of its exploration and pilot operations at its C Zone on its Precambrian properties in eastern Bolivia (details presented below). Pilot operations and modeling have confirmed that the entire target eluvial deposit in the C Zone can be mined using open pit mining techniques, applying relatively inexpensive free-dig earth moving methods without the required use of explosives.

Also, as indicated in previous announcements, the mineralized material contains high percentages of quartz fragments that the Company has been studying in a batch quartz crushing program that reduced the material to minus 2 millimeters. That program has demonstrated gold grades ranging from 1.1 g/ton to 0.38 g/ton, and is continuing to identify the ideal size for liberation of the contained gold particles. In addition, measures are being taken in the pilot operations to address the unacceptable loss of a relatively high percentage of gold particles finer than 100 mesh. Based on Golden Eagle's experience operating its Cangalli gold mine in western Bolivia, Linatex Separators will be used in its full-scale operations (based on adequate financing and final feasibility) to de-slime the ore before presentation to the Knelson Concentrators for increased fine gold recoveries.

Golden Eagle also announced today that it is giving a high priority to the development of its larger A Zone Buen Futuro gold and copper prospect located 3 kilometers (1.8 miles) from its C Zone pilot operations. The Company has been interviewing international engineering firms that can assist it in further moving this prospect ahead, and has chosen a firm to be announced once all arrangements have been finalized.

"It gives me great pleasure to report significant progress on both the C and A Zone projects," commented Terry Turner, Golden Eagle's CEO. "I believe that we are closer than we have ever been to our goal of developing these projects to their potential."

Modeling at the C Zone identified a core of 630,000 m3 of mineralized material averaging gold grades of 460 mg/m3, ranging between a high of 1,400 mg/m3 and a cutoff grade of 100 mg/m3. The area modeled covers a 28-hectare (69-acre) heart of the C Zone, in an eluvial environment related to a quartz vein zone striking N 30 degrees W over a distance of 600 meters (2,000 feet), with an average width of 50 meters (165 feet). The entire mineralized target studied extended over 909 meters (3,000 feet) in length and 454 meters (1,500 feet) in width, with drill holes demonstrating that the gold mineralization was open both as to the length and depth of the area studied. Confirmation work is continuing in the balance of the sampled area and Golden Eagle believes that the total number of cubic meters of mineralized material in the C Zone will potentially increase as further bulk sampling in the Company's pilot plant is accomplished. The mineralized eluvial material ranged in depth between 2 meters (6.6 feet) and 6 meters (20 feet), but in the specific core area modeled and reported on, the average depth was estimated at 3 meters (10 feet).

Since November 2006, Golden Eagle's pilot operations have been treating bulk samples taken at regular intervals from the subject study area to confirm data derived from 200 auger drill holes using 4.5 inch bits, for a total of 703 meters (2,320 feet), with 8 holes drilled a second time for quality control and verification. A total of 65 shaft-style pits were dug, with a total of 180 meters (600 feet) of channel sampling in the walls of the pits, and 5 pits dug a second time and fully sampled for quality control and verification. Six auger holes were drilled at the sites of the control pits for further quality control purposes. Modeling was carried out by interpolating a 20 by 20-meter (66-foot) grid within the core area and weighting the level of confidence as data increased and decreased relative to each sampling site.

As indicated, Golden Eagle is giving its A Zone Buen Futuro gold and copper project a high priority. The A Zone prospect consists of strata-bound volcanogenic massive sulphide (VMS) mineralization systems with a demonstrated gold oxide layer of 40 meters (130 feet) to 60 meters (200 feet), as well as a copper-enriched supergene extending from the bottom of the gold oxide layer to depth of 100 meters (330 feet). Dr. Michael Biste, Golden Eagle's Chief Consulting Geologist, has studied this gold and copper prospect for the past 12 years. The Buen Futuro ore bodies were initially identified through geochemical surveys, and were confirmed using Induced Polarization (IP), and Horizontal Loop Electromagnetic (HLEM) surveys. Dr. Biste supervised 18 geologists and 120 auxiliary personnel to cut a total of 1,300 kilometers (800 miles) of exploration trails through the jungle to take a total of 21,000 samples on the Buen Futuro and surrounding areas. Over 1,800 meters (6,000 feet) of auger drilling were performed initially, with 3,300 meters (11,000 feet) of additional reverse circulation drilling and 8,200 meters (27,000 feet) of diamond core drilling. A total of 13.3 kilometers (8 miles) of trenches were dug and 5,500 trench samples were taken and analyzed.

Eagle E-mail Alerts: If you are interested in receiving Eagle E-mail Alerts, please e-mail the Company at: [email protected].

Golden Eagle International, Inc. is a gold and copper exploration and mining company headquartered in Salt Lake City, Utah and with offices in Santa Cruz, Bolivia. The Company is currently focusing its efforts on developing its mining rights on its A Zone "Buen Futuro" gold and copper project, as well as its gold projects on the B & C Zones, within its 136,500 acres (213 square miles) in eastern Bolivia's Precambrian Shield.

The Company highly recommends that you review its disclosures, risk statements, previous press releases, annual reports, quarterly reports and current reports found at its Web site: www.geii.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS

Some of the statements in this press release are forward-looking statements and are based on an assumed set of economic conditions and courses of action, including: (a) whether Golden Eagle will be able to obtain sufficient financing to continue to meet its operational goals; (b) estimates of mineral reserves and future production levels; (c) expectations regarding estimated mine production costs taking into account higher petroleum prices, expected trends in mineral prices, and statements that describe Golden Eagle's future plans, objectives or goals; (d) uncertainties that result from actions that may be taken in Bolivia relative to increases in the Complementary Mining Tax, Corporate Income Tax or the amount paid for mining patents (claims fees) in the future; e) uncertainties that result from social and political conditions in Bolivia; and f) other risk factors and matters disclosed in Golden Eagle's Securities and Exchange Commission ("SEC") filings which may be accessed at www.sec.gov. There is a significant risk that actual material results will vary from projected results depending on such factors as changes in general economic, social and political conditions in Bolivia and financial markets; changes in gold and copper prices; technological and operational hazards in Golden Eagle's mining and mine development activities; uncertainties inherent in the calculation of mineral reserves, mineral resources, mineralized material (which has the lowest level of technical confidence) and metal recoveries; the timing and availability of financing; governmental and other approvals, and other risk factors listed from time-to-time in Golden Eagle's Form 10-K and its other reports filed with the SEC. The mining projects in Bolivia described in this release, and related evaluations, or in our other disclosures, should not be construed by any means as an indication of the present or future value of the Company or its common stock. Additionally, our plans with respect to the Buen Futuro A Zone gold and copper project, or the B & C Zone gold project, should not be construed by any means as an indication of whether we will ever conduct successful mining operations in connection with those projects. Golden Eagle disclaims any responsibility to update forward-looking statements made herein.

Contact:
Golden Eagle International, Inc.
Sabrina Martinez, 801-619-9320 (Investor Relations)

--------------------------------------------------------------------------------
Source: Golden Eagle International, Inc.

"MYNG.OB" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.   ;D                           
All history on a stock pick in 1 thread is awesome.    ;)                         
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock.   :(     
Thank You....and good luck with all your trades....make some $$$     ;)   



Friday's closing chart while I'm here....... 

Technicals
Close Above the 50-day MA
Most Actives

Last Price Quote is:
38.20%above 13-day MA
37.44%above 50-day MA