Tuesday, April 9, 2013

Trades and News

I'll start off with AXU.  For the second time, I was stopped out of this trade, this time at $2.56--yesterday's low at $2.51 looks now like it marks the bottom:  there was a swing low--WAY LOW--today.  In retrospect, it looks like a good time to take the trade on the swing... but I didn't do it.  Twice was enough. If it can close above the 18 dma, maybe I'll think about it.  Ultimately, this is one I want to own, and at these prices, it seems like a good value play.  I'm just bitter now!  Here's the chart:

Technically, there's not too much of a better set up if you like the value and fundamentals of a company.  I just got suspicious that something is going on behind the scenes even though I like the *published* story of Alexco.  I'll probably buy back in a day or two--I'll post that trade.

What I did add today is more Tinka.  I couldn't resist the low prices and my Muppet brain told me "if it ain't broke, don't fix it."  My plan was to get invested into Tinka up to 15% of my account.  With today's addition at $1.02, I now have an average entry price of $1.12 and am invested 26%.  Yikes!  Getting down into the .90s seems to have triggered some stops AND some limit orders.  The close was at $1.03, which looks like a good reversal to me (longish tail).

The trend with Tinka has been to lag a day behind the mining sector, which had a good day today. That, coupled with (A) the turn on the SloStoch, (B) the dip into RSI 7--which has signaled turns thus far on the daily and for the last 1.5 years, and (C) large support at .97-.98 (thanks for the lesson, Mr. M), gave me the courage to break from my plan and add a little more.  I will be very cautious with this overage.

In other news:

The chart for a larger miner, Allied Nevada (ANV) looks strong today, and looks like the bottom is in (thanks to Alex at BBT for pointing that one out).

First Majestic (AG) has good news from their Del Toro mine:  Del Toro Silver Mine Flotation Circuit Deemed Commercial

SilverCrest (SVLC) continues to expand one of it's deposits: SilverCrest Deposits Expanded

Plus interesting results from Aurcana (AUN), a small miner that I like, but haven't seen a set up to buy yet, especially given the action the last couple days.  It's one to keep on the radar, though:  Larger, more complex mineralization at Shafter

In silly news, I'm sure most of you saw the chart for FSLR.  If you've not yet seen it, it rivals the NFLX chart from the day after their earnings last time.  It's a (solar) rocket!

Finally, Kyle Bass is perplexed at gold's low price.  A good watch: Kyle Bass: 'I'm perplexed'

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