TSXV:SLX.P - Post by User
Post by
Chipshot2on Jan 16, 2011 9:19am
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Post# 17979752
Will $.80 hold?
Will $.80 hold?Just a couple of weeks ago I was hoping that Silvermex wouldn't get get away too quick as I wanted to transfer 5000 shares into my TFSA. I was relieved when the transaction took place at $.97 of course not ever thinking I could have held on until mid January and then could have transferred 6000 shares. Oh well, slept through most of Crystal ball 101 in college.
So here we are now at $.80. The question is, will the stock hold here and head back up or will we experience more of a correction? We are just below if not right on the 50 day moving average. My fear is that if we break and stay below $.80 we could see $.70 in a heartbeat.
On the positive side, we have to be close to getting news from the company plus I liked the way the stock behaved on Friday given the beat down Gold and Silver took. Is it possible that the stocks had factored in this drop in the metals? Volume has also been a little less than usual on the sell off.
Long term I think we all believe that Silvermex will trade much higher than $1.00 but I also think many would agree that the short term may be a little choppy.
Thoughts??
Chipshot2