RE: where's the volume to suport this theory?This is a reply to EZ33
If there were a bad news leak concerning Chile, shouldn't we be seeing more volume during the down tick?
There were about 1.5 million shares traded at the opening on Thursday last week, however, don't forget that we have about 7 million special warrants floating out there to be exercised. But the main thing to note is that the 1.5 million shares on Thursday all went for $4.55, also the day ended with almost no change in sp.
On Friday, XRC basically tracked the price of Gold where the spot price plummetted.
Then Monday, that's when Ecuador dropped the bomb, and the big down trend bellow $4.00 began. But again, the thing to note is that there were only about 90k shares traded on Monday and 12.3k shares today.
Conclusion, XRC when down below $4.00 because of the news in Ecuador and on very low volume. Fear and volatility dominated...
That's being said, discipline is the key, stop lost is your friend...and time will tell...
Cheers