Tuesday morning thoughts
in response to
by
posted on
Nov 05, 2007 10:59PM
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)
Was just reading through the posts and noticed all the nasty replies to MJ. How hilarious, the guy gives you good entry points to buy more shares of NOT on the cheap and he gets bashed. People don't you see when you bash posters for expressing their opinions you yourself become a basher?
Some people on this site figure the stock is going straight up, no chance for a pull back. People this is how the market goes, some up days , some down days. Many here are the buy and hold type of investors, that is fine, but there are many other ways to play the market. Don't be so narrow minded that you only see your way as the right way. I have a hard time understanding this buy and hold strategy but that's me, of course I sit by my computer all day so I can get in and out quickly, some don't have this opportunity. That I understand. Personally I like the in and out way of playing with an eye on bringing down my cost per share of core position.
Short term, yesterday was just an indecision day for NOT, the bulls and the bears couldn't make up their minds which way the stock is going. I see a bullish reversal pattern on the chart but the lower than normal volume makes this indicator suspect at best. An open over $5.52 would be bullish for NOT today, the first resistance point to overcome would be around $5.80. An open below $5.48 and a test of support @$5.25 is probable.
I have no idea when it will happen or why, but one of these days this stock will be in all probability take a run under the $4 level. The reason is this, before the stock goes on to new highs the market maker will need to reload on shares, best way to achieve this is to run the stock down while it has low volume. This is their little trick to shake the tree so to speak. People have stop losses put in at different levels and the market makers would love to hit them and pick up their shares on the cheap. This is the reason guys like MiningJunkie say the stock is going below $4 and at this point he will buy. He puts in his low ball bids now, then when the weak handed shake out occurs he picks up the cheap shares before the stock rebounds. He knows there is a high probability of this happening, its just the way the market works.
The buy and hold guys/gals could care less about his happening other than most here will poop in their pants when it does. It's just a market cleansing mechanism, so pay no attention when it occurs, other than to pick up cheap shares yourself. This is called opportunity, those in the know will use it.
Anyhow, enough of my ramblings. Here's to hoping we hit new highs today. Go NOT go !!!
Al