HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

Free
Message: Wednesday Selloff...Thursday sideways movement...Friday barnbusters

Wednesday Selloff...Thursday sideways movement...Friday barnbusters

posted on Oct 17, 2007 06:28PM

It seems like we are getting into a routine.  Early in the week we push up with the share price..mid week we cool off from the early week runup...then Friday we get warmed up for the next early week runup. 

If this is true then tomorrow should see a lot of sideways movement..either slightly higher or lower (maybe between 5.25 and 5.85.  Either way its part of the whole movement in share price.  The upside...the stock keeps recycling and stays interesting to both bids and asks.  The other upside...the stock never stays down for more than 1 or 2 days at most...meaning Friday I expect  an upward tick again and maybe a support of 5.80 to 6.00.  I thought we may have hit that yesterday and today until the end of todays trading brought us below that level.  The swing point appears to be 5.80 to 6.00 with main support being around 5.50 and the resistance being around 6.20. 

Should we be concerned...no..look what the support/resistance was last week...3.50 and 4.00.  We may be looking to far ahead of ourselves.  Rapid stock price increases can be unsettling, particularly when the runup appears to have taken any type of rest.  I call this a quick breather until it catches its second wind....We will be running up again over the next few days...I don't see why we wouldn't with the annual meeting around the corner.  A halt is in the air whether this week or October 31.  Either way...take your week and look at your gains/losses.  Don't try and do it daily or you'll get frustrated (thinking how muc money you could have made if you had sold at 6.20 and bought back at 5.50.  Either way longs will win with this stockl...swing traders may get hurt...shorts will get fried.  This is not a stock to have fun with shorting the stock price down  Like Misfit1 stated earlier, the shorts are stupid to test this baby out... lets see 6.00 again tomorrow and then move up again Friday to Tuesday.  We'll see 10.00, just not sure how soon.

 Good luck to us all.....

Share
New Message
Please login to post a reply