MAI's relative strength to gold and silver is improving
posted on
May 29, 2008 08:07AM
Formerly - Minera Andes Inc
Minera Andes' shares have bottomed and are poised to move much higher in the months ahead. The negative market gas that had taken the stock down from its highs above $2.50 in the early part of 2007 is now market history.
A significant test proving that the bear is dead occurred when large value oriented money interests started placing bids in the share price as weakness drove prices lower towards the stock's ascending 1000 day moving average line in early August 2007($0.95) and on three occassions so far this year($1.05, $1.10 and about $1.20). The current position of the 1000 day ascending moving average line is now about $1.22. No matter what happens with gold and silver and along with the copper prices, MAI will get stronger as time passes. The technical internal strenth of MAI is outstanding as a result of the victories waged by smart money interests against the foolish bear elements who thought nothing of value and only of, probably, just continuing to unload their endless supply agency naked short sales.
One only has to research on the Internet the experience that shareholders of Overstock.com went through when their stock got busted by the criminal elements in the market place in the US. The SEC chose not to take action(more paid governemnt employees sleeping at the switch). A judge of the Superior Court in San Francisco after hearing the case presented by Overstock's attorneys had to do the work for the SEC and assessed millions of dollars against prime brokerage firms for allowing some of their customers to transact selling while not requiring them to produce the physical shares. They should have all be incarcerated for stealing from Overstock.com's shareholders.
Did these hedge funds and the banking divisions of brokerage firms really believe they could keep hammering the shares lower indefinitely when at the close of the first quarter this year 12,140 ounces of gold and 968,000 ounces of silver were mined by Minera Andes? The miscreants that have been pressuring the whole junior sector lower for months someday might find themselves behind bars for all the dirty deeds that they have instituted againt the honest shareholders when regulators awake from their dormant sleep, if that is ever possible.
The Exchanges in the US are self governing within certain guidlines set out by the SEC. The board of governors consist of representatives of brokerage firms who have banking divisions. I believe the NYSE may have added some independent representatives to their board following the Grasso incident some years back when it was discovered that the president of the Exchange had excessive benefits which eventually ended in scandal. According to Jim Puplava, a US analyst, the bigger problems exist in the Canadian markets.
Go MAI!!
P.S. Gold's last sale is $875.80 and lower today. What a great opportunity for initial entries into MAI or just another opportunity to add to existing positions.