Re: Bollinger Band Squeeze
in response to
by
posted on
Jun 22, 2008 11:04PM
A New Mid-Tier Gold & Silver Producer - Mexico
I personally don't put much faith in charts...I consider them a tool that I use from time to time, but they are a very small part in my decision making. I'm not an investor in funds and care very little about what the Dow or s&p does on a day to day basis . As I mentioned before the stocks I follow are more contrarian and don't follow the Dow or the s&p.
I spend a lot of time looking for stocks that stand by themselves as undervalued. When I find them I invest in them. I spend a lot of time on DD of what the company does and has in terms of assets and very little on it's charts. I do look at how the stock has traded over the past few years or months to see if a pattern exists.
I look at stochastics sometimes as a guide but don't pay too much attention.
As far as MFN is concerned I think it will go up but I am worried if it cracks below $9 before they start producing gold.
This stock needs a lot more volume before we see a good move up...but I feel it is coming soon or I would not be here.
If I could have my way I would love to see one of the big guys buy this company now for $ 16 to $ 18....I would be long gone with more ammo for ARU !! With only 50 Million shares outstanding a Newmont could easily offer 20 Million shares for the whole company with no trouble.