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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: wsw111/17/2006 3:48:09 PM
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Polymet fans:

take a look at the chart and tell me that the full STO crossover (modified to mimic the IBD clone) is your ideal buy and sell signal...

stockcharts.com

clearly we had a sell signal on PLM recently, and now we await for it to become oversold enough for a full STO crossover to occur in the oversold zone...at that point, you want to load up on your shares...

i bought a little today thinking that we might just hold the 200 day MA...clearly we broke it, so i took off half of what i put on the table today...i'm waiting to buy more in the 2.60s and potentially the 2.40s...notice the gap down there...

i'm not calling a direction on the share price right now...i only remain cautious, simply acknowledging a potential bearish short term situation that has developed...you never know with this thinly traded stock what will happen...Polymet has news forthcoming any day now detailing progress over their draft EIS report, which is one of the permitting process milestones...in addition, the company will be releasing updated drilling results which may expand the currently large resource base even further...

bottom line, i love the prospects of PLM over the intermediate and long term...i just thought i would bring a little TA perspective to the table here so that current and potential investors can time their buys and sells more reliably...
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