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August 27, 2010 – Comments (6) | RELATED TICKERS: BVN

I think BVN's Weekly chart is very bullish. This series of patterns (a cup and handle forming the handle of a much larger cup and handle) is suggesting a large move up. BVN is a major gold and silver producer. And I (of course) am very bullish on gold and silver.

This would also tie into gold's very positive seasonality which I talked about a few weeks ago here: My hat is old. My teeth are gold. And now my story is all told.



ENLARGE


Disclosure: I have a long position in BVN

6 Comments – Post Your Own

#1) On August 27, 2010 at 4:26 PM, Momentum21 (82.23) wrote:

Did I ever tell you how much I love SLW? : ) Nice little squeeze on ATPG at the close...how does that chart look to you?   

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#2) On August 27, 2010 at 4:39 PM, outoffocus (23.09) wrote:

Did I ever tell you how much I love SLW? : )

Not more than how much I love SLW. *pops champagne*

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#3) On August 27, 2010 at 4:41 PM, binve (< 20) wrote:

Momentum21 ,

Hey man!

>>Did I ever tell you how much I love SLW? : )

You and me both brother :)

>>Nice little squeeze on ATPG at the close...how does that chart look to you?  

I have no opinion on the short term ATPG chart. I was bullish at 9/8.50 becuase that is a key support level and that is where I went long. I exited at the begininng of Aug because I thought the move was getting ahead of itself (ATPG tends to do that a lot).

I think rallied up to 14.50 which is also the 38% retrace of the move down from Apr.

So right now it is in no-mans land technically. I have no opnion on it at all at the moment so I am out. I am content to wait and see how this develops further from the sidelines.

Thanks!..

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#4) On August 27, 2010 at 4:44 PM, binve (< 20) wrote:

outoffocus ,

LOL!

DIiid I evvver telll youu how much, how much, how..... did i ever (hic)

SLW is turning me into an alcoholic :)..

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#5) On August 27, 2010 at 6:00 PM, DarthMaul09 (29.72) wrote:

I like BVN although it has not appreciated as much as I had expected.  Part of the reason may be that although their second quarter earnings were good, it was hard for them to beat what they did in 2009.

Key stats and ratios

                                           Q2 (Jun '10)       2009

Net profit margin                    54.37%           75.92%

Operating margin                   24.28%           32.58%

EBITD margin -                                           40.92%

Return on average assets       17.95%          26.30%

Return on average equity        20.21%          32.67%

They remain relatively cheap, especially given that they provide a reasonable dividend.  With the price of gold rising and the cost of energy at reasonable levels, I believe that they have a good chance of improving on their second quarter profits.

P/E  16.44

Div/yield   0.30/1.48

EPS   2.46

I also hold a long position on this company.

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#6) On August 28, 2010 at 10:23 AM, binve (< 20) wrote:

DarthMaul09 ,

Thanks! I agree 2009 was a very good year for them. And the pattern above shows bullish consolidation, representing most likely the balance sheet consolidation after 2009's great year. ..

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