the only technical reason is that its close to support at the
5.40 area.....overall though the technicals dont look very good on
this stock......i only added a small amount of shares today to my
overall position.
my main reason for buying this stock is that they have a 40+
million oz gold deposit and at today prices you are buying gold in
the ground for $8 dollars a share(companies with deposits of this
size usually get taken out over $40 per oz in the ground)
this stock is highly undervalued at these prices. It
doesn't mean it cant go lower in the short term either. They are
working on their pre-fes study and thats usually the time when
resource stocks will underperform the rest of the market.
This is because no new news is being released into the market
to keep investors excited. 12 months from now this stock will
be 100-300% higher. I can wait that long for a 100% on
money.
XRA
Posted by rank10 on 1st of Dec 2010 at 04:00 pm
also added to my XRA position today
chart
Nice call, once again. Thanks.
Posted by sankaty on 2nd of Dec 2010 at 10:43 am
your welcome yeah its doing very
Posted by rank10 on 2nd of Dec 2010 at 10:48 am
your welcome
yeah its doing very nicely today, glad i added to my position
chart
Yesterday I noticed it was
Posted by frtaylor on 1st of Dec 2010 at 09:27 pm
Yesterday I noticed it was at support and picked up a little. Long term.
rank10
Posted by baker on 1st of Dec 2010 at 05:19 pm
Rank10, am curious which technical indicators led you to your decision to purchase. Thanks for your time.
the only technical reason is
Posted by rank10 on 1st of Dec 2010 at 06:53 pm
the only technical reason is that its close to support at the 5.40 area.....overall though the technicals dont look very good on this stock......i only added a small amount of shares today to my overall position.
my main reason for buying this stock is that they have a 40+ million oz gold deposit and at today prices you are buying gold in the ground for $8 dollars a share(companies with deposits of this size usually get taken out over $40 per oz in the ground)
this stock is highly undervalued at these prices. It doesn't mean it cant go lower in the short term either. They are working on their pre-fes study and thats usually the time when resource stocks will underperform the rest of the market. This is because no new news is being released into the market to keep investors excited. 12 months from now this stock will be 100-300% higher. I can wait that long for a 100% on money.
Thank you!
Posted by baker on 1st of Dec 2010 at 09:13 pm
Thank you!