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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Today's Trading, Wednesday

Today's Trading, Wednesday

posted on Feb 11, 2009 04:53AM


On NYSE: KRY sp opened a bit down, likely profit taking after yesterday afternoon's bump up. Long term techs (Daily) twisted into Bullishness from yesterday afternoon's buying (600k+ moved in last hour). OBV flat yesterday, and slightly down today (from the early sell-off). Speculators need time to digest recent news about RMLFF and GRZ and see the relationship with KRY. Although techs showing Bullishness, they could go either way at this point.

On RMLFF and GRZ: Typically, as mentioned a while back, the takeover company will bump up because there is no longer a "debt" as the takeover has been abandoned. The takeover-ee usually dumps some because they are "no longer wanted." However, anything can happen in this Venezuelan saga.

Gold up overnight in London, and currently in a major major spike above $930. However, a lot of this may be panic buying over the US StimPak and all of the printing up of new cash that will devalue the good ol' buck. Investors may be getting in a bit early, but, for the long term it is probably a good bet.

Dow is up a touch on a bounce. This is normal after such a horrendous previous day. Geithner annoncement did not have enough details, so the sell off happened and trumped the trend. More news of the StimPak coming, so anything can happen today.





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