Retracement time
in response to
by
posted on
Jan 20, 2011 11:11AM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
Looking like it's pull back and retracement time as the sellers hits the bids and take money off the table. Nothing goes straight up as the stock retraces and fills in for the rapid movement we saw yesterday going from and open of 36/37 to .43 so quickly. Today the sellers are out looking to jump over each other as they rally to capture any significantly sized bid imho...yesterdays sellers were basically still in bed as supply and demand took over.
Yesterday the psychological price point was fast becoming .45 as the sellers were inhabiting that very spot. Today they are out of bed after a 20% day. Today they jockey for the best bids and we have touched on .375 as a LT on 105K. As I write there is 90K on .41, 30K on .40 and 23K on .395 on the asks. A virtual price wall of 143K sits bordering the .40 cent level now...Then there are the fence sitters who are simply watching the bids ready to jump in and over the visible sell orders..LOL watch them trip over each other snarfelling up whatever they can get when they are trying to unload these sort of blocks.
Healthy retracement imho as the shares exchange hands in light of a 65% price gain for Jan alone ( despite the hold recommendation from Amercian Bulls hey Van?)
I wonder what has driven the stock to these new levels :) ?
|