volume precedes price....As all of you know, I do not usually follow fundamentals or news items in trading..I look at only the technicals...CDE broke away from its 50 day on Friday, did a breakaway gap, and its volume was significant compared to average volume the past 5 trading days...Why I have not committed fully to CDE YET, is because it needs to break 2.12 on the bid, for me to really believe the destructive pattern we have seen on our charts the past 3 months has finally concluded...
Followthrough is what it is all about....I will commit a full position of 25,000 shares once confirmation is there...For now, I will sit with 10,000 shares and wait....
If silver prices skyrocket as Warren Buffet, George Soros, and Bill Gates have strategized they will, we should be happy campers in the next 6 months...My price targets on CDE remain, 2.50, 3.25, and 5.00.....
Holding 17,000 AIRN from 58 cents , 10,000 CDE from 1.68 and cash...... |
