QMXClearly the gap needed to be filled after running up in a single day from 0.185 to 0.375. However, the stock has had a very healthy 61.8% pull back from its high close of 0.335. The stock should begin to climb again next week.
With a hit of 6.48g/t Au over 73.2 m is insane. I think some investors need to be reminded that a number like that is huge! I was invested in Walbridge when they were hitting incredibly high numbers and couldn't figure out why the stock wouldn't move. Walbridge had over 500 million shares outstanding and a few nay sayers kept saying that there would be a reverse split. Well, look at Walbridge now. The market finally woke up and discovered how amazing those number were, but it took some time. Even I was questioning if those numbers were real or if I was missing something because the stock wouldn't move. Eventually those numbers took the stock well over a $1.00 and has now settle down in that dollar range with over 700 million shares.
I feel QMX will do the same thing. The numbers are amazing and eventually the stock will stablilize and then consistently start moving up. There is a lot of predatory short selling that occurs which can destabilize a stock and cause retail investors to question their pick when a stock is dropping even when the numbers are great. I'm hope Terry Lynch and Eric Sprott are succesful in reinstating the uptick rule in Canadian stock markets.
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