The stock has formidable resistance just below $10 (blue line). However, with silver starting to rebound, I expect MVG will break beyond this area of selling pressure.
By Ian Wyatt | May 6, 2012
Unlike many politicians, Ron Paul puts his money where his mouth is, and makes his investments based on his political beliefs. It’s no wonder his portfolio is chock-full of miners
By Ian Wyatt | Apr 1, 2011
It's the first day of the second quarter, and also April Fool's day, so be on your guard. The first day of the month has been an overwhelmingly bullish day ever since the stock market bottomed in March 2009. And the first day of a new quarter has also been bullish, as new money gets put to work by mutual funds.
Today we also have a strong non-farm payroll number to propel stocks higher.
The economy added 216,000 new jobs in March. This is a net number that includes job losses at the government level. Private hiring has now topped 200,000 jobs for two months running, for the first time since 2006.
The government published unemployment rate fell to 8.8%. And while that's still unacceptably high, it's an improvement.
Whether or not we can give the Fed any credit for helping the jobs market with QE2, today's jobs number increases the odds that the Fed will stand down in June, and not move directly into another round of stimulus QE3.
And while we've discussed the end of QE2 as a potentially bearish catalyst for stocks, it could also be considered a sign of confidence in the U.S. economy. I know that might seem like a stretch, and I still expect there to be some kind of correction ahead of June (sell in May?).