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)

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Message: TA - Resistance - Support?

TA - Resistance - Support?

posted on Oct 08, 2009 10:22AM

For those that want to consider something else....how about the current price/volume action - and corresponding trends - how about we start up a discussion about that?

I personally think that this break through 1.80 is a new support (although it has only been tested twice in the past three months), with 2.00 being a crucial resistance level at this point. If we can convincingly break through 2.00 on high volume that would signal a new level of support and a shot at 2.50 as the next level of resistance. Again, I must reiterate that this must be done on high volume or it could appear to be a suckers rally. If one takes a look at the July volume action - there was a robust community of takers - which our current volume pales in comparison. The July volume period may be an anomoly that should be discarded in current TA, but it also demonstrates that for any huge upside we need serious volume. If we can't break 2.00 convincingly, there may be some cheaper buying opportunities (buy on those dips with all that extra white powder....)

So how about we pray for some volume (in both the vocal variety and the people interested). Like Spinal Tap - let's turn it up to 11 - even if 11 is really just 10. Our amps go up to 11....

WW

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