hi syder,
my 2 cents.
the 10/16 peak was largely related to the los azules and release of long awaited feasibility study. it's not a coincidence that the $25 stock price was about the same as the study's valuation of McEwen copper's npv.
speculative, and best case as most of those preliminary releases are, it was bound to pull back.
imho mux remains primarily a mux copper speculation, though it's various less publicized purchases of various North American properties and development of stock and grey fox show real potential for future gold production, particularly if they execute and the strength of the gold price continues. two big ifs, but not unreasonable to expect.
as a result I expect them to continue to be more volatile than most miners, with the price likely to get ahead of itself on good news, and pull back more than others during lulls.
not a chartist, but I do think they're helpful to those looking for entry/exit points, particularly the fib numbers. covered calls can be a strategy for confirmed bulls who don't like the waiting...though I lost a few shares on the recent spike, which a stock like this seems more prone.
happy thanksgiving, glta longs.... |
