Claude:
At the risk of becoming the curmudgeon of this thread my response is:
"Well the news were out on Wednesday and the stock moved up $0.32 on Wednesday and Thursday on almost 100,000 shares. So it was a good reaction. Although it could have been a lot better."
I can't agree that the reaction was even good. It gave back all of the run up in a few days.
"Again, the issue here is promotion. Some other mining companies have less than BAY but have much higher market value due to promotion. In the end, the assets will tell where the stock will be. And don't worry, solid assets are always recognized in the markets, one day or another, while the premium that builds due to heavy promotion always evaporate if the assets are not developed or discovered to match the inflated stock price."
If good news in the form of drill results doesn't move the stock and they won't promote. How does the stock go up?
Claude, I certainly don't have your experience in the small cap gold market, but I have a lot of experience trading a variety of stocks and this stock is not acting like a winner. If it is in strong hands, I don't think it would have given back the entire runup that resulted from the release of the good news. For now I am watching the uptrend line and the overhead resistance to see how things might resolve. I have a small position at lower prices, but have been reluctant to add because of the concerns I have expressed. I for one would rather pay a little more on a breakout than to watch the price slowly erode or consolidate endlessly. The plain fact is the stock is not going to 6 or 7 until it breaks overhead resistance. If there is going to be a quick move up, it should be then.
Claude, as you know I am an ormetal subscriber and you are the only gold/silver small cap advisor that I respect. You are extremely knowledgeable and if I did not believe that I would not hold any BAY. Nonetheless, I have to take responsibility for my investment decisions and that is my thinking at this time.
Live long and prosper,
Little joe |
