posted on
Dec 03, 2009 04:54PM
Welcome To The Kimber Resources HUB On AGORACOM
Creating value through Exploration and Development in the Sierra Madre of Mexico
Message: Re: Beating
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Doc,
The others on the board have beaten me to the punch, and I assure you that gents like Hysteria and Puzzleman are correct. This is pretty normal. The stock price was simply dancing too high above the moving averages, and ran out of steam. I personally think that Veta Minitas was disappointing. Having been an investor for awhile, and having received NUMEROUS beatings in the gold sector, I instinctively felt one coming on yesterday when the stock wasn't acting right and was trading at $1.60. Many other stocks in the sector failed to move higher in confirmation with the spike in gold and silver.
I sold some from my trading account for a huge gain. Literally, within 30 minutes it dropped to $1.45 and that day I expected further weakness. Even though Kimber has shown strength on down days for the PMs (precious metals) lately, I knew that some kind of correction was necessary short term.
However, in my view, THIS IS ALL SHORT TERM. I DO think this is the beginning of THE MOVE in this stock. I will not wait long to re-enter in my trading account, because this weakness may not, and in my view probably will not, last long. The end goal of these trades is to INCREASE the number of shares in Kimber at a lower average buy price. It is possible to reduce your cost to a negative cost if you are good enough. I am not yet that skilled.
In the end, if you move out of this stock for any length of time, you may miss out.
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Dec 05, 2009 02:00PM
Dec 05, 2009 08:20PM
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