Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Market Action

CRYXF has short term support of about 0.18'ish (14 Day MA). Likely getting some new blood into this lotto ticket with the financing news giving support. BB mid is 0.17'ish and 50 Day MA is about 0.14'ish, but rising. Those would be the next possible supports levels at this time. RSI, Stoch and Mac are Bearish with OBV flat to Bearish. Could be indications of showing some impatience by the spec players. For you Bull folks, the 50 Day MA has come up to meet the sinking 200 Day MA. This is a "Golden Cross" and might be considered a very Bullish indicator. So, it will be interesting to see how sp reacts in the near future. Although, technicals will be trumped on whatever news details that come out concerning the financing. The financing news apparently was implied as a done deal and all sold out, so the lack of an announcement to that effect on the noted date is a bit puzzling. Financing anything in these Market conditions and economy is rough. Maybe the details will be announced with the Q3 report within a couple of weeks. NYSE/AMEX finalized the KRY delisting in an Oct 7 filing with the SEC, conspicuously missing from the Company's shareholder update dated/released on that day. Sloopster, maybe replacing, "smarter," with, "common shareholder friendly," is more what you meant.

Market came back a bit as it always overshoots. Market has thought it over about Euroland, and a 50% haircut is actually not such a good investment. How many would invest ten bucks to get back five? Plus, the mini-Leaman event of MF going belly-up is making folks think of a possible 2008 replay (although likely not happening until 2012). Most all of the individual stocks are running together despite their earnings, good or bad, or their Sector. Tech may be a play into the end of the year. It is a trader's market, but one must get in synch. Be careful in your choices. Diversification can help, and sticking with solid companies with good earnings always wins out.

Gold and Silver being knocked around by the dollar strength and weakness, most recently weak from the Yen adjustment. Juniors not really working and are pretty much still running with Market conditions rather than with their respective metals, so be aware. Actually, the first week of November sees considerable selloff and rebuying of Gold and Silver futures, so might see a decent entry if considering getting in. Would like to think, with all of the uncertainty in Euroland and with the upcoming US "super committee" proposal being argued over, that Gold and Silver would be running off like a freight train. However, any major run will always be muted with the Dollar continuing as the standard. Despite this, Gold and Silver still seem to be the go-to safe havens. Gold moreso than Silver.

Share
New Message
Please login to post a reply