washout appears to have run its courseThe washout that began with a little over an hour to go in yesterdays session and continued into this mornings opening appears to have run its course. This brief but somewhat violent shakeout caused DEC and several of the area plays to lose 1/3 of their value from yesterdays highs to this mornings lows. This I am sure has un nerved a few people and some of the pre news momentum buyers have probably sold out at a loss which is unfortunate for them but that is the game they are playing.....win some lose some.
The good news for long term shareholders of NKA is that the DEC release was actually quite good and it indicated that mineralization of hole 9 is probably a separate geologic event from those reported in holes 1 to 6. Since hole 9 looks better than 1 to 6 to the naked eye it could really be something once it has been assayed in 2 to 3 weeks from now. Since it is in the direction of the NKA claims one could assume that this could lead to something big for NKA as well.
The things to watch for in order to add to NKA positions would be:
(1) DEC starts trading back above $1.45 and looking strong
(2) NKA starts trading back above $0.18 and the volume has picked up again
(3) NKA issues some sort of an update or news release that merits a breakout to new 52 week highs
A combination of all 3 would be best.
GLTA