Pumper swaps out...
Clive Maud? (sp)
Monday morning.......p
Gold Stocks
After Eldorado GoldEGO, ELD.TSX, $12.82 and C$12.91 pushed new highs for March early onThursday it reversed and dropped on heavy volume on Friday. Positionsshould be closed out. We are still up a trifle on this. The chart for Keegan ResourcesKGN.TSX C$5.81 in isolation look positive and there is strong supportin the $5.70 area. If the sector steadies it could therefore take offhigher for its own reasons. However, considered prudent to place a stopjust below this support as it could “sink with the ship” if the sectordrops heavily as now looks likely. We are slightly down on Keegan atthis point. We are up about 20% on Kent Resources KEX.V C
.18which looks set to get dragged down further by the sector. Take(modest) profits at once. Profits should be taken at once in Minco GoldMMM.TSX, MGH, C$1.27 and $1.28 where we have a gain of about 50%. Wehad earlier resolved to sell this anyway if it didn’t get moving againwithin a week or so after its initial runup on a discovery, and ithasn’t. Best to lock in this gain and await developments - in adverse market conditions it could break down from the current potential Flag/Pennant pattern. Samex Mining SXG.V, SMXMF, C
.35 and .365hopped up on our recent rec. but volume was light and price action wasweak, so it could easily get shot down again in the event of a sectordecline - close out positions. We have a modest profit on Timmins Gold TMM.V C$1.33 as it rose sharply early last week before falling away again. This profit should be taken and the stockcan be kept under observation - if it crashes down with the sector wecan of course re-enter later at a much more favorable price