Another 40k Shares Out @ $2.74 As stated in last night's post, had the sell order ready for the open and only managed to get $2.74 US. That kinda stinks JC, doesn't it? After all, copper launched over the $5 US mark after hours, actually hitting $5.05! Taseko shares were set to open around $2.82 at one point. But...then...the whipsaw turnaround before the US markets open. The SAME whipsaw that occurred the last time copper hit $5.05. Big time resistance there. Anyway JC, that's why you place the sell order and forget about it. Huge profits locked in with lots of cash to move around. Down to 100k shares. Listen to some of Slew's posts. He's sarcastic (and obviously means to be) but he is correct in the content. Just because you think something is undervalued doesn't mean the share price will get to where you think it should be. Here's another gem you could have gleaned from historical data (charts) : when copper last hit the $5.04 mark...again in after hours trading...Taseko was also making a multi-year high in share price. What was that price? BINGO! $2.76 US! How about that? What a coincidence, ey?
**Bottom line, thus, ergo alert time**
You simply have to know how the equities you're invested in trade historically and can't be afraid to take profits off the table after large run ups in price. Further, current copper prices are due to futures traders running the prices up for quick profits. That's why we can and will see large price fluctuations, as witnessed by the past few hours alone. Finally, Fibonacci Pinball historical chart analysis of several different market following ETF's like the SPX and IWM is what we use for decision making. It's up again today, "likely" forming one last top before moving substantially down as previously discussed. And, again, not asking or needing anyone to "believe" how we roll. Taseko shares and copper prices can still go higher. Hope they do.