That was quite a Monday on the markets. Starting off up then way down and closing the day only 32 points downward. Today I also wanted to take a look at the chart for gold. Since many penny stocks out there are junior mining companies focusing on gold and other precious metals they are very much tied to the fortunes of the commodity they are mining. The 3-month chart shown below still show a strong uptrend in the metal and it doesn’t look like it’s returning below the $1000 level any time soon, at least from a technical perspective. There is a lot of talk about the American dollar increasing from these levels until the end of the year. This flow may adversely affect gold prices from a more fundamental perspective.
gold chart

Yesterday’s Picks:
ATC.V – Open $0.94 – Close $1.03 (+9.57%)
SSS.V – Open $0.12 – Close $0.11 (-8.33%)

Tomorrow’s Picks:
CMM.V – $0.175
MTB.V – $0.145 – This has been seriously beaten up.  Should have some news coming out soon too.

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