Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Beat The Street With SI Traders -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (218757)	3/24/2022 10:49:20 PM
From: stuffbug	Read Replies (2) \| Respond to of 233807

Short NPK ???? Be very, very careful. Just pulled up a U.S. chart of Verde / Amazon Mining. In December 2011, Verde broke out above resistance at $5.20. One month later the stock price hit $9.20. Following a one month 30% correction to the $6.50 area, the stock price proceeded on its final run - a 2 month journey to over $11. At the time the two currencies were close to parity. Today, the U.S. close was $7.82 The breakout above the $5.31 resistance level occurred Feb 25th. We've had 2 gaps this week (Canadian market); it is common for the 3rd gap to be an exhaustion gap. Short term oriented technicals suggest there could be some explosive action on the way. Quarter end re-balancing occurs next week.