Timmins & Beardmore - Northern Ontario

Focused on becoming a near-term Gold Producer

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Message: Re: This can't be all!
1
Sep 04, 2009 11:43AM

I know it's a disappointment right now to both supporters of the company, and to disgruntled shareholders alike.

The only thing I have to contribute is this: I really get the feeling we are going to retest the low of 4 cents, which isn't that far off as it stands. Most stocks, after a decline, form a double bottom before they start moving up. 4 cents is a double bottom.

From another TA point of view, on the weekly chart, we're still above the 30 week MA, we have a bullish divergence on the stochastics, and the MacD is hovering around zero. As well, although the daily chart doesn't look like much, there still is accumulation showing up in the volume for the last several months on the weekly chart.

It's anybody's guess what could happen with the SP; TA is not a science or a certainty, or even necessarily predictive. But it's safe to say we may lose a bit more ground before we move up. You never know, some of the big movers out there take a dip before they launch. Look at Noront for an example, did it twice in the last couple of years.

JMO

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