Weekly Commentary

First I'd like to appologise for the delay in getting this week's newsletter out. Just as I was about to send it out last night I had a power glich that caused my system to reboot and it never did reach the server, so I've had to retype it this morning. Glad I put my picks on paper before typing them up. Now if I can only learn to click on the "Save as Draft" once in a while... DOH! As I finish writing this newsletter and about to hit the send button (yes, after clicking on the "Save as Draft" first), I took a look at how the markets opened and Centric Energy took off on me already. Grrr... A nice pick went to waste. Probably still has some steam left to it but I will have to take a closer look at the chart once I hit the "Send" buttom here.

On the bright side, I will be receiving my Chart Pattern Flash Cards this week and gift wrapping them for you before sending them out. You'll be notified by email when they have been shipped to you, should be later this week. I am very pleased with the response I've received with the Flash Cards and want to say "Thanks" to all of you who have ordered them. There's still some left and I can still get them out to you for Christmas! So if you're interested, click here to order your set now.

Hope some of you have made a buck or two on the continued interest in Uranium plays last week. Ucore did a nice jump as I expected and managed to lock in some nice profits on it, see Successful Trade here. Harte Gold also managed to hit my target and post gains of 27%, but I don't think its over for it yet... See last week's newsletter for more details.

As I'm already late in delivering thie week's newsletter, I'll shut up now and hit the "Send" button... Have a great trading week!

Brigus Gold Corp. (TSX: BRD)

Brigus Gold was one that was on my list of picks last week but was not quite ready yet as far as the indicators were concerned and needed a few more days to come down. They have and now I think its ready. It could drift a little at this price range. Entry would be when it gets back into the trend which makes it at $1.69 right now. Your stop loss should be right below the support line at $1.61. Initial target would be the top of the trend line which should be about $2.05 for gains of 21.3% in about 2 weeks I think. Keep in mind the round number physological resistance. As it gets near the $2.00 level, you'll start to see some selling pressure. If the pressure is not too strong, it should peak to $2.05 before pulling.

Centric Energy Corp. (TSX-V: CTE)

Confirmed breakout of the Bull Flag pattern recently, this is a good sign. However, it has not broken resistance at $0.39 and indicators are in the "Undecided" zone. A Bull Flag is a continuation pattern of the previous trend with a measured move attached to it. The measured move is calculated by taking the length of the Pole portion and adding that to the breakout of the Flag when confirmed. In the case of Centric Energy, the pole length was $0.22 to $0.46 making the measured move $0.24, so the target of the measured move would put Centric Energy at $0.56. This would represent gains of 40% from an entry at $0.40. I would put the initial target as the top of the trend line at $0.47 for gains of 17.5% and see what it does as it gets near there.

Alange Energy Corp. (TSX-V: ALE)

Alange is coming back on my radar again... After posting some nice gains and consolidating in the $0.70 range, Alange Energy has dropped by down to a previous support level (my previous target on Alange Energy, see recent Successful Trade). Indicators have started to turn upwards and I would want to see a move above the 50 SMA line before taking a long position in it. The 50 SMA line sits at $0.60 right now. Stop loss would be at the bottom of the "Indication" candle posted on November 16th at $0.53 or if that's a little too rich for you, you can put your stop loss at the support support line. But wait for the move above the 50 SMA before taking position in it. Initial target would be the resistance line near the consilidation area at $$0.73 for gains of 21.6%.

Barkerville Gold Mines Ltd. (TSX-V: BGM)

Barkerville Gold Mines recently posted a Base on Base formation and is still within its trend lines. What is intersting now is that it has formed a text book example of a Bullish Pennant Pattern (highlighted by the orange lines on the chart). A Bullish Pennant pattern is described as a continuation pattern and usually occurs after a large increase in price. Well, we've certainly seen that recently! The way to trade this pattern is to wait for a breakout of the upper trend line on high volume. This would make entry around $1.50. Indicators are in the "Uncertain" area and if there's a breakout, it will push them upwards. We are very close to the apex of the pennant so if this one does not go in a few days, it could fizzle out and move down to the lower trrend line. Initial target on the breakout would be the top trend line at $1.78 for gains of 18.6%.

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