RE:No trades today !After the news which was very positive three things occurred. The first, news of hole 9 which was a huge step-out produced something rather then nothing and it was Tech that initiated the drill hole to be drilled. Secondly, with that news it put the sellers in a very percarious position to which they did not want to sell. Third, it enticed more buyers to the stock due to more news was coming.
The sellers are dying to sell but are hoping to sell at the right time and not too early. There will be profit taking to occur here but when is the real ? The sellers are hoping to sell it higher and then are hoping it retracts back to some level to which they will buy back in. The problem with their strategy is drilling will continue way into the fall thus generating more news and if the news is good to great then more buyers will show up thus not allowing them to sell to buy back in at a much lower level. The reality they will uncover is they will probably have to wait until the drilling is done to actually sell and then wait a few months after the drilling is concluded to buy back in. Remember they are cashed up for this year and next.