Yesterday's action, my take.
In stocks like BAY (or anything else for that matter), anytime you get a 10-fold increase in volume leaving the share price at the top of a trading channel, it's a very, very, good day.
420K buyers met 420K sellers. There's INTEREST out there, folks. Think how we'd feel if it had traded 20K shares finishing 1.80-1.82. "Well, a not bad day, people haven't discovered it yet. When silver goes, volume will pick up", or some such rationalization.
We're sitting on a gold mine, so to speak. I am resolutely bullish on long term prospects for precious metals. If you're trading this thing, take your profits where you find them. If you're looking for the big score (like I am), don't let one day's trading action dictate your response.
For a longer term hold, yesterday's action was exquisite.
Make your own decisions.
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