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Gold/Mining/Energy : Sandstorm Gold

SAND 12.12

0.0%

Oct 24 9:30 AM EST

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To: NOW who wrote (342)	10/23/2010 6:18:10 AM
From: TheSlowLane	2 Recommendations Read Replies (3) of 1133

I could be wrong...I often am...but the stock looks like it hit a buy point this week. Things were going along okay until the PP was announced and I suspect there was some selling in advance of the announcement which helped start to weaken price. The chart shows a large triangle and that the stock has just bounced off of the lower side of the triangle. RSI and stochastics are getting towards their lower extremes. MACD has not turned up yet but appears to be heading that way. Just thought I would provide another read on the chart. Still have my shares but at a razor-thin profit now. The fundamental story has not changed, the cash should be flowing in now. The biggest question I have is whether they will continue to be able to get deal flow in an environment of very strong metals prices. edit - also...meant to point out that as this dramatic fall in price has been going on...volume has contracted signficantly so it looks to me as if the selling pressure is abating.

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