International Precious Metals (IPMCF) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : International Precious Metals (IPMCF)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Alan Vennix who wrote (10876)	6/3/1997 4:32:00 PM
From: Steve Huskey	of 35569

TA ... something to chew on finally. This is what a "hammer" looks like or a "dip" as I call it. Increased volume at the bottom of a heavy down rally. Low at around 5 5/8 following by heavy buying driving the price back up above 6. Look at and remember theis price and volume pattern. It is a very good short term bottom signal. An open and close near the top of the price bar with a long "tail" below it and good volume (key point). Shows alot of buying occuring. The bulls are back. This spells the end of the down draft and a "bottom" around 5.75- 6.00. The price should go up some now soon. Bear in mind this is VERY short term. If you had a bid in below 6 and got filled... here is a trading opportunity. There should be some recovery. Since the stock is now in a downtrend, the "recovery" could be only to 6 - 6.25 where it could easily start down again.. I fact I expect it to. Stocks dont start right back up after such a freefall without some consolidation. Expect to see a "double bottom" before any lasting price movement up. At least we have a target for bids now... 5.60 - 5.75 would be a nice double bottom target and chance to get in at a low if you want more shares. See... I told you to be patient. The 3 day rule helps. This advice is only for those convinced they want to buy more based on the fundies. On a technical basis.. this is a very risky buy. The stock IS in a downtrend and chances of losing money are greater than making money at this point... from a tecnical basis that is. Unless you are shooting for a short term trade. Steve

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next