Shame about TAM BC, certainly had a good day!
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Shame about TAM BC, certainly had a good day!
I bought a lot of these Explor Resources stock when it was at around 40 cents( EXS.TX ) this is a Venture one also in Gold,silver etc. The SP dropped all the way to 2.5 cents and some clients were able to average buy at 3 cents. I was surprised to see the SP hit 17 cents last week and now still at 12 cents. That proves if you are patient there are still trash out there that will eventually pay off as long as you buy more when they are close to nil value.
GOR going for another run today up to 10c. Kicking myself a bit for selling at 9c, however was happy at the time so can't complain.
Looking for another pull back in this baby to load up again.
Yes, I had an offer sitting at 9.9c which I thought was far enough above market price to catch the tip of a spike (from 8c last Friday) but it got hit within 2 hours of trading today, and I see that its now trading at 10.5c with good support at 10c. This bullish run has legs, and if previous runs are anything to go by, should last a few days.
I still made a profit so I'm not complaining but I gotta keep reminding myself to wait at least 3 full days once a run begins. Today is only half way through day 3.
Resistance at 12c may well be tested before the weekend.
BC
Touched 12c! Doh! Must have been demand fueled by the AGM & last drill announcements. Really missed out on this one, but I don't think you can pick that sort of behavior. MLX is moving up steadily with good volume of buyers taking out offers. Think this could be a 30-40c stock in the next 6 months maybe less if the POG gets a push higher. Its tin is a great cash earner & tin could easily move a lot higher. Think they are very well placed with instant gold production & an expansion on the tin as well.
Some gold juniors and other mining stocks I hold are surviving surprisingly well during today's sell off:
SOC, ASL, OZL, DML, AZS, EHL, MLX, CFE, FML, GRY and a few others...but many of course are not. It will be interesting this afternoon to see how much fear of these stocks dropping further tomorrow creates buying opportunities in the last 30mins of trading...and yes, Daytr could be right about a small reversal tonight...or perhaps earlier (China's Manufacturing PMI results are due out this afternoon). I'm picking that the POG will lift at least to test the new resistance of 1265.
Call me an optimist but I think I may be able to trade OK through this. It's not the rout through my portfolio I thought it would be.
Also, after dropping overnight, the Aussie dollar is now recovering well against the Yen (JPY), Swiss Franc (CHF), USD and NZD.
SOC has just announced this morning confirmation of very high grade structures at Mt Adrah (12m @ 58.6g/t Au). Can the grade get much higher?
http://www.asx.com.au/asxpdf/2013112...lppbrt99lj.pdf
sp holding well but stuck in a trading range of 21 to 22.5c.
saw this earlier today (re SOC) surprised it didn't cause a bigger spike. guess the POG is holding it down
Yeah I think any gold stocks that hold or are up today are doing well & is a good indication the market still sees them as value. SOC is just getting better, I am amased at their initial success rate with the drill program. It will be interesting what the re-assaying delivers.