OTCPK:RIDYF - Post by User
Post by
realstockon Sep 09, 2010 12:43pm
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Post# 17429772
NR
NRGlobe says Richmont on the verge of a price breakout
2010-09-09 06:59 ET - In the News
TheGlobe and Mail reports in its Thursday, Sept. 9, edition that CaldwellMeiselsCanada Fund research provider Ron Meisels is keen on Richmont Mines.Clea Simos writes in The Globe's BNN Market Call column that RichmontMines stock shed six cents to finish Wednesday on the Toronto StockExchange at $5. The stock has a 52-week range of $2.85 to $5.46. Mr.Meisels says Richmont Mines is an "attractive gold stock on theverge of a price breakout. It shouldget a lot of attention once it exceeds,plus or minus $5.50-5.75."In his general outlook Mr. Meisels says: "We have entered September andeverybody has concluded that themarkets will go lower. Bearishnessis rampant, and when thatoccurs the markets usually don'tcomply.All of our indicators are in oversoldareas, which suggest thatsurprises should occur on the upside. Minor corrections may occur,but the path of least resistance isup for the intermediate term."Mr. Meisels recommended buying Richmont Mines in the BNN column on May19. The stock was then worth $4.45. Mr. Meisels said, "The gold andprecious metals sector will be the leading group in the near term."