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Message: Nice open on the “pinks” this morning

This is a dream come true so far....back at the end of May RVX was stuck around $1.30, RVXCF was under a buck....Now we're talking about the possibility of $4 CDN on the tsx and $3 on the OTC.

We hit $2.92 on the pinks yesterday for a new 5 year high there, and $3.77 on the Canadian side today for a new 5 year high on the TSX.

The fact that these are 5 year highs is signficant imo because it speaks to resistance....if these were simply 1 year highs we were hitting, then it might be reasonable to expect some selling pressure.  Someone who buys a stock for say $3.50 who then holds tight through a drop to $1....often times they are more than willing to sell when they get back to break-even, happy to have avoided a loss.  

Hence the term: "clear sky break out"

 

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