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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Madharry who wrote (102125)6/5/2008 1:35:35 PM
From: chowder  Read Replies (1) of 206110
 
>>> I could just as easily make the counter argument that is most likely that the vast majority of the people who bought in the twos sold it a loss and took the tax loss <<<

Assuming that vast majority of people who sell for a tax loss, do so in November and December, the volume figures for those two months each of the last two years don't support that argument. During November and December 2006, not a single week had above average volume. Selling volume was very low.

November of 2007 didn't have any above average volume weeks either. December 2007 did but, not enough volume to offset all of those people who bought in the twos over the last couple of years.

Therefore, I think we could reasonably expect that a lot of that overhead supply is still there.

>>> but now you have a number of buyers who purchased it below 1.25 who are sitting with wonderful gains in a short time and these are far more likely sellers than the "old timers", who failed to take a short term capital loss in this stock. <<<

I would agree with the first part of that statement. We may see some profit taking ...... although I think it would be in addition to overhead supply coming to market.

However, those "old timers" are still there and the volume histograms help confirm this.
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