Date: Sun Nov 22 1998 15:45
DA KINE (Reply to THE HATT) ID#270227:
Copyright © 1998 DA KINE/Kitco Inc. All rights reserved
This gentleman evidently commented on the "Nevada" TREND and ask if someone
besides PDG was active in the area ..... I have been following MIQ-M for over two
years. About a year ago they signed with Kinross. Below is an indication of where
they are going:
Subj: MIQ.M ( close $.35C )
It is difficult to be excited and not run at the mouth about how MIQ.M is
doing technically and read too much into the charts. A normal chart would
be screaming turnaround, consolidation, or a downward price action after a
triple from its low and it maybe that MIQ.M's chart is screaming just that.
But, in favor of irrational excuberance and MIQ, I believe we may be
witnessing a classic and rare 10-bagger in progress ( not $10 but 10 X .11
or $1.10 ) . Before you get too excited let me say that there is not one or
even two indicators that would confirm this. In fact, the smartest thing
anyone could do would be to sell half-on-a-double. YET, the excitement
created by leaks, rumors, innuendos, and kinetic energy surrounding this
year's Kinross drilling results that aren't even out yet combined with the
very recent high-momentum and force that is building in the technicals
makes me tell you that the dam is about to break. Caution: do not trade on
this information, do your own due dilligence. That said, I sense in the
charts an energy that I have rarely seen since I learned to read these
special-kind of tea leaves. Here are the factors that favor a POSSIBLE
10-bagger ( BX.M may be a 10-bagger from .03 soon too ) :
-- these indicators are off the scale or extremely vertical: stochastic,
William %R, Force Index, Commodity Channel Index, On-balance Volume,
Relative Strength index, Price Momentum, and finally Price Performance.
-- The CCI on the weekly chart is 107, with a likely 220 before it turns down.
-- Upper weekly bollinger is $.45C, it burst through $.24C on the daily
upper bollinger.
-- The upper weekly bollinger is tracking up, just like a price tracks down
during a drop in stock price.
-- the www.lemetropolecafe.com site did a write-up on MIQ. This is a highly
respected financial site with Bill Murphy as patron. This coverage might
bring in serious buyers.
-- The chart looks very similar in many respects to ANV.V's recent runup to
around $1.38.
-- News is yet to come out.
-- Junior stocks need a "hero" stock to launch the next gold bull in junior
exploration companies. Might just be MIQ.M.
-- Gold is forming a price-base around $290 that provides a platform to
jump higher in its next up cycle. It might hit $320 this go around.
-- If KGC ( Kinross ) makes any significant release on results at MIQ.M, this
will only add to the interest.
-- Unknown positive factors ( chaos effect )
I see a few negatives to watch out for:
-- Technicals are screaming overbought.
-- Results could be announced that might dissappoint folks.
-- No results or news may be immediately forthcoming and the momentum might
wane.
-- MIQ.M might announce results but not Kinross.
-- Unknown negative factors ( chaos effect ) .
Bottom line: watch BX.M and MIQ.M volume and price action. Be careful not
to chase it. Watch for evidence of a halt pending news or other halt. Watch
for other rumors that may confirm or deny the above. Ultimately, though, I
am excited about the technical factors.
I will not be putting out a TA Stuff this weekend. |
