GREY:GPLDF - Post by User
Comment by
YeOldGoldNuggeton Feb 23, 2011 4:45pm
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Post# 18182946
RE: After hours
RE: After hoursSeeing as we already hit that magical $2.80 on three previous occasions (2010) and we broke through that just a couple days ago really bodes well for GPR.
Since February the 8th we tapped that $2.80 again on three different trading days. So if you take that level and define that as something where we were supposed to be since the January drop in gold and silver then this run from $2.80 to $3.42 is only an increase of %22
You see...the run from $1.85 in January to $2.80 on February the 8th encountered resistance just at that level. So from that moment we started anew. So no treating this as a stock that went from $1.85 to $3.40 in one go cause that is definitely not the case.
That and the tremendous volume going on in GPR tells me this bull really has horns and that we are nowhere near the end of our run.
With silver in backwardation and gold in contango...most investors will choose solid silver producers to invest their money.
GPR has been profitable since years and with an ongoing program to find more resources in their mines this story will get better and better.
No idea what we will open tomorrow but I don't detect any weakening of trend in GPR so I have to assume that this run is far from over. An opening at $3.55 therefor sounds very reasonable and probable to me.
YeOld