PINL:VLTAF - Post by User
Comment by
VentureTrader1on Mar 09, 2011 9:11pm
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Post# 18262688
RE: RE: RE: Wow 1.83
RE: RE: RE: Wow 1.83Actually, weakness in PDAC is completely consistent with what I've seen over the past several years. Seems like the bigger players find the companies they like at PDAC, then drive down the price on them (if the market permits). Might sound a little conspiratorial but I've seen it happen a lot. So if I had the ability to move the market and I knew that all the big news for Volta (43-101, Nassara results) wasn't coming for a couple of months, I'd just keep pushing down to the next support level as long as the market let me get away with it. Breaking 2.00 was an obvious invitation to 1.80, if it breaks there's good support at 1.60 - 1.70, but I kind of think 1.80 might hold because its also the 200dma and that's usually a pretty reliable support level.
Wish I had cash to accumulate at this level, but like some others I'm fully invested right now - did all my accumulation at the earlier support levels - lol. Still, I'm not a geologist but even to me it looks from their latest presentation that their next resource estimate's almost certain to deliver a nice addition to their overall reserves. So even though I hate the way this is trading, I don't feel any need to sell right now - still lots of upside in the gold sector as far as I can tell.
GLTA.