Tuesday, March 26, 2013

Tinka Update--3-26-2013

Tinka seems to have a new range of $1.16-$1.25.  For today, I put in a barely stinky bid just below at $1.15 (a smaller 3.5% tranche).  In the past, TK has shown that it will break just below the 18dma for a day or two, and just a few cents below, with the exception of the recent ICL-like lows in mid- to late-February.  Right now, price is just bouncing off support and the 18, so I will use my bid to signal, then wait a day or two for my third and final tranche if it can break below the 18 to around $1.10-1.12.  Of course, if anything like February happens again, I will be selling other assets that aren't too far underwater in order to take the BB crash trade, as it represented an approx. 38% gain last time.

Tinka's most recent press release from today secures my bias confirmation for a while by reporting more silver-containing drill results; some sections are quite good:  http://www.tinkaresources.com/files/news/tinka_news_release_march_26_2013.pdf

In other news, SVLC looks like it's working its way down, hopefully to around the $2.15-2.20 area, where it will be a good buy.   SVM continues to hilariously bounce off the 50dma.  A fun game would be to set up an automatic buy for a put option or two at the 50dma.  Today, that would have been 1.8% on the regular stock.  I'm too lazy to research the put option price action today, but maybe it's better than 1.8% volatility, never mind open interest.  Finally, AXU continues to move down to the $3.40 range that has been good support for a while now.  If I had less invested in the garbage complex known as NUGT, GDX, GDXJ, I would definitely put money into AXU at those levels.

Update: Order at $1.15 for TK.V partially (65%) filled.  Hopefully get a move below the 18dma for the last tranche.

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