Timing for Purchase via TFSA
posted on
Feb 08, 2010 12:07AM
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)
Well its that time again. Time to drop 5,000 into the TFSA. We're at 1.35 which sucks big... but if anyone wants to make a nice bit of loot without paying the piper when you collect it later this is the time IMHO. Yes maybe we'll drop a bit more, but man we may jump 10 - 20% in two days because we are very undervalued.
The technicals say our RSI is way low (oversold) and lets face it nothing from assays indicates we should be concerned with a bit of maneuvering around from the big funds. That's all this is in my opinion and nothing more. Any hint of odd news and they sell and then buy double when everyone else sells with them. Doesn't take anything for a hedge fund to affect the flow of the stock valuations. This will go on for a while yet so what am I doing. "Buying on the dips" and this is a pretty big dip. Remember one thing...the assays say we're in great shape with the likelihood of us being in greater shape down the road. What can anyone question then except that this is a very fortunate occasion for someone who wants to get more shares.
If I had the gambling itch I'd drop all of what I have in now even for a doubling up (to 2.70 which "will" happen this year). The rest is left to faith and patience. The estimated price for the shares was slated at what 3.60 earlier this winter?! I can't see where we won't hit that this year either. This can't continue to drop much more. Everything points to the price bottoming due to the oversold state we are in. We can't be very far from bottom now. I'm not talking about me here. I'm talking about those who think that we may go lower. Don't count on it. One more day maybe then it will take a crash to put us under 1.00 and that isn't likely to happen this time. So fess up and admit this is the day to drop the dollars into NOT. At least I know I'm backing up what I'm saying. My instincts are good for stock trading...its my patience and timing that suck some times. I hope others don't have that problem...for it they don't they are blessed.
All the best to everyone here. Lets see NOT move up and away. This game won't last forever then the real trading will begin..that will be one wonderful day for all of us because that's when we get to wake up Crazydik from his slumbers. :)
One other thing and correct me if I'm wrong. If your going to set up a TFSA (Tax Free Savings Account) you need to set it up with the brokerage firm and not the bank if you want to invest with it. Seems to make sense but really I thought one account was good for all of the investments which now of course I realize it is not. If you set up the account at the bank I was told you can't invest with it in the stock market. Maybe GIC's but not stocks. Just ask before you open the account or open it online with your brokerage firm.
Night and may God bless you all,
Mustangman