<<<You may have called the short term bottom on JFM yesterday so I will give you this round>>>
Hey, I had a 50% chance of being right! (....and could just as easily been wrong!) And the points you brought up were certainly worth thinking about. Much appreciated Keith!
I'm pleased that JFM held above $7.00 on the close. Psychologically, this just sits better with me. The run today to $7.50 didn't mean to much to me cuz it was on such light volume. As far as feeling more "confident" in the bottom...well...that I am. I liked the way it traded today, and the change up in house buying and selling. Given the way things went today, I'm pretty sure I'm in this one for the next couple of days. The buying is still tentative/cautious from what I can see. Once it comes in strong as people become confident, the price should reflect this to the upside. As well, I would suspect that most of those who wanted out of JFM are...well...for the most part...out!
The other one that caught my eye today was IWM on Vancouver. This is a funny little stock that had quite a spurt of buying in the last 45 minutes today, moving from $1.38 to $1.51 in that timeframe. (Take a look at the trades or intraday chart and you'll see what I mean). As well, there was good bids filling in behind the increasing price, i.e. not just a silly gapping. It's come off quite a bit in the past week or so, so maybe this is on it's way back up too. I don't know what caused the flurry in that last 45 minutes (it had been quite stable and sedate throughout most of the day), but it did catch my attention enough to pick up some along the way. The buying definitely seemed pretty eager, so perhaps there is more to it than at first meets the eye. As usual, the market ALWAYS knows long before I do!
All the best everyone.
Kevin |
