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Message: The Kroner is Soaring

The Kroner is Soaring

posted on Feb 19, 2010 09:58AM

WOW !!! Has the Norweigan Kroner ever moved higher lately.

From a low of about 5.15 to the Canadian dollar last spring to the levels last week of about 5.58 to the level today of about 5.72. WOW! What a move higher.

Unfortunately for QEC, it means a lower value for QEC shares prices in Canada.

At yesterday's close of 20.20 NOK, QEC would have been worth $$3.92 last spring and would have beeen worth $3.62 only last week, but today is worth $3.53 Cdn.. OUCH !!!

It has made for some interesting divergences in the technical charts for QEC in Canada and Norway. The stock obviously looks much stronger on Oslo Exchange than on Toronto Exchange.

Oh well, just another factor we have to take into account when evaluating QEC.

Good luck to all.

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