Re: It's amazing...
posted on
Feb 13, 2008 10:12AM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Back at ya. I had somewhere over 30k shares at one point. I'm being conservative since I unloaded most back in October.
Something is up you are right. Way too many shares thrown on the ASK. This is sometimes done to scare retail into selling. Novices sometimes try to anticpate a major move but you should NEVER trade ahead or behind the BID/ASK volume players since it is often a fake out.
A good strategy on KRY is to buy 2 to 5k shares in the last 30 minutes when we are at the lows of the day (usually) and then sell them in the first 10 to 15 minutes after open (which is usually the days high). It's small gain if you don't put up a lot but you can keep your core and chip away at the losses.
KRY has consistently followed this behavior pattern almost daily but you MUST watch the action and see when there is a change in behavior.
At some point, if indeed there is share shaking accumulation, the sell offers will dry up and the price will rise sharply until profit taking at about 10-15% up. On the down side, it is quite possible for a negative news article to incite a panic and you could get caught on the drop. I'm on house money so I have no problem with the risk, but don't put more in if you can't risk losing it.
Of course this all goes out the window on permit, but I think we at least several weeks away from that possibility.