KGC

[David Randolph]

Kinross Gold Corporation(KINROSS - KGC). The Group's principal activities are mining and processing of gold and silver ore and the exploration for and acquisition of gold-bearing properties, principally in the Americas, Russia, Australia and Africa.

Gold and Silver related stocks have been beaten up for the recent months. But over the last few sessions, the volume on this group has increased as they've reached support area.

Before we enter on the short term I always like to, maybe just out of curiosity, see the long term chart:



Now the medium term, that shows we're on a support area for KGC:



On the short term we have a potential inverted head and shoulders pattern. I say potential because KGC still needs to break the neckline for the pattern to be effective:



As usual, buying the open tomorrow. I believe buying stocks that belong to a sector that is attracting interest of investors increases the probability of success. If a group is moving altogether it must be because there is a macro-fundamental bullish story behind that group.

Everyday we scan the entire US market to come up with the best 3 stocks to buy on a short term basis. If you wish to keep track of our moves and join our stock analysis community, please subscribe to our free newsletter (it takes only 10 seconds)

[eliteG]

Your 3 stocks on fire look really great.  I'm really interested to see how GLW pans out, I noticed it as AUO started running...AUO flat panels need GLW glass...i think.  The reason I'm posting here for KGC is I noticed something bullish in its Chaikin Money Flow.  Chart below.

[David Randolph]

... the stock was not doing what I expected it to do. I wouldn't like to see KGC closing below $5.28 (it would invalidate my H&S pattern expectation), it was a good thing she recovered by the close.

Thanks for the Chaikin Money Flow picture.

[David Randolph]

Sold KGC @ $5.18. Can't stand this loser.

[metro]

The US dollar is going up so gold down. Gold has broken slightly its long term trend line but has support at the 65 week average so we may be getting close to a buying time by next month.

http://tinyurl.com/dt4py

I like to buy stocks at support or a a break of resistance so I can sell right away if the trade does not work. This means you have to wait for the stock to get to your buy point so using CDE (gold/silver company) as an example the chart shows how it is close to support. IF it bounced there the a buy is low risk - especially if you see other indicators such as a hammer candle of upturning MACD etc

http://tinyurl.com/cdqwl

[metro]

Gold may put in a bounce soon so watch for a couple of day trade in some.

This one KGC had a green candle below the bottom Bollinger band and near support from a year ago so one to watch for reversal. Here is a weekly chart  http://tinyurl.com/8tb2m
Others I may play for a bounce when gold moves this week or next  - CDE  BGO MNG  and for silver PAAS but I will look at live chart before a buy on any


MDG put in a hammer yesterday so may also be one to move

[David Randolph]

Gold may put in a bounce soon so watch for a couple of day trade in some.

This one KGC had a green candle below the bottom Bollinger band and near support from a year ago so one to watch for reversal. Here is a weekly chart  http://tinyurl.com/8tb2m
Others I may play for a bounce when gold moves this week or next  - CDE  BGO MNG  and for silver PAAS but I will look at live chart before a buy on any

MDG put in a hammer yesterday so may also be one to move

metro was right indeed, not only KGC recovered and climbed a lot, but most other gold stocks did the same. We see now that the H&S theory was wrong (hey, why was there any theory if the pattern wasn't confirmed ) and the fall ended with a big gap down at the open below long term support and a steady rise from that low. The stock never looked back ... this pattern, when a stock breaks a long term support at the open but then closes above it almost always gives a short term advance phase.

[setravis]

05:01 PM Kinross Gold (KGC): Q3 EPS of $0.16 in-line. Revenue of $736M (+26.3%) vs. $667M. Shares +1.3% AH.

[setravis]

UPDATE - Kinross posts profit on strong gold price...

Wed Nov 3, 2010 5:41pm EDT

* Q3 EPS $0.44 vs loss $0.03/shr year ago

* Revenue rises 29 percent to $735.5 mln

* Average realized gold price up 24 pct (In U.S. dollars unless noted)

TORONTO, Nov 3 (Reuters) - Kinross Gold (K.TO) reported a third-quarter profit on Wednesday on the back of big gains in the price of bullion.

Net income in the quarter rose to $346.9 million, or 44 cents a share. That compared with a year-ago loss of $21.5 million, or 3 cents a share.

Excluding the impact of the Red Back acquisition, Kinross earned $121.6 million, or 17 cents a share.

Quarterly revenue rose 29 percent to $735.5 million, as its average realized gold price in the quarter climbed 24 percent to $1,190 an ounce sold.

In September, shareholders of Kinross approved the $7 billion acquisition of West Africa-focused Red Back, a deal that is set to transform Kinross from an intermediate player into one of the world's top five gold miners by output.

Red Back's Chirano mine in Ghana and its Tasiast mine in Mauritania also give Kinross a foothold in Africa, allowing it expand outside North America, South America and Russia.

[angila]

As for Aussie Trader and running Automated Scans and using Mechanical Trading (or system trading)....  You may have something there if we were able to write a Scan(s) that was Foolproof,  however if a scan is good but keeps pulling up 80 stocks or so, you need to then keep narrowing down the parameters to scan over and over till you get a short list, kinda like interviewing candidates for a job, eventually getting a top 5 list.  Then add some Fundamental Analysis and we could likely generate some seriously profitable swing trades on the top 3.