Interesting SP movementseems we are following the Silver chart and don't even have it in the RE yet.
https://www.24hgold.com/english/gold_silver_prices_charts.aspx?money=Loonie&p=argent
Silver did the same where the double top failed to break through and plummeted. We have our own reasons.
I think the big fish will try push us lower. The true support is still $1.89 but I was surprised to see the $2.20 mark broken so easy. That would indicate that people re-evaluated the price on a leak or on assumptions that the RE can't contain a glory hole. (We have already seen the results so this shouldn't be a surprise.) I'm a happy camper and will sit on the sidelines some more. I don't think they are done otherwise you'd see serious buying.
Part of what's going to happen is a result of the election. People will start off with a bunker mentality. They will watch for signs to find a direction. Most people don't see copper as a safe haven. There's talk of war online already. Our 45 billion dollar jets (the real price) are for something. Harper is buying them for defense not attack? Ummm, we're already in an oil war that we have no business being in. So we are moving towards a war economy following the failed lessons of the USA. The mega prisons he wants are not for a good purpose. It's also another failed USA policy. This sentiment is effecting investors.
Markets will benefit. Yes, for a while. But this has to be short lived. The reality is we have a dictatorship that must surpress a bunch of news like the G20 report and senitorial crimes and that's just the beginning. How long will it take the public to realize that the prisons are for dissenters? What will they do when the find out the true cost of the jets? I see trouble coming. We sit in our ivory towers and watch them struggle and we don't care. The problem with that is they can cause us trouble. I like to look at them as canaries in the mine. Canada is an oligarchy and our business model reflects that. When the peons get uppity they can effect us by stopping the supply of labour. This is our weak point. For those of you who don't know history. Hitler made opposition illegal. Harper wants to take away public campaigning funding for parties. see a common theme? Looks like a lot of voter remorse. Let the fallout begin.
The near term. Wait for it... Copper at 4.5% of the current price per pound is about a bucks worth of the sp. It's the other components that make up the sp price. So when people first look at us they think we are over priced. Luckly, we are moved by the big players the most. Why are they waiting to buy? Like us they are waiting for the RE and digesting the impact of the election. Next, the company has failed to meet it's stated intentions. Minus one on the company report card doh. Darn it Elmer and Mike. You said you baked in 2 weeks extra and you're still late. I said 2 more weeks because you'll need the oopsies clause but you said no no no! So now were a week into my predicted schedule. I said if you could find a way to make it past the milestones then the silver could be included and we'd all be happy. No point having the USA Fed decision or our election etc steal the NR's thunder. And here we are so why deny it? yes, we know we are about to experience news compression but we're prepared for it. Many of us plan to exploit it. We have baked in ideas of what the fly over will produce. I think we can find about 3.3 CUU's worth. (before the main pit gets drilled deeper). I think the basic RE for investment confidence followed by the fly over results will send the sp flying. One dollar please! We need to test the $3 mark.
10 days to go!