Ike- Chart Guys and The WorldCharts typically tell the story if you have the expertise to really read them. One exercise I use is to lay the market and category charts over top of the Canaco charts for example. If I find they all look the same I'm inclined to believe that it is market fluctuations . With Canaco I always keep my core position but dart in and out of the peaks trying to follow the M.M's market manipulation and grab some fear $$'s myself. It works 60% of the time for me.
Canaco has been trending down and the recovery peaks lately are lower with each swing. a lot of my buddies have been stopped out on most of their stocks due to this market action so they are 90% cash today where I'm 30% cash. They are in a better position to grab deals but vulnerable to a market swing and od trading halt.
To me right now Canaco does not look strong or weak it looks sleepy. So does the category and so does the whole market. Will Canaco continue through the summer at this anemic rhythm or will it break trend with news. One piece is the final nail in he SOC coffin. Much as I hate to say it but the market is hurting Canaco because it just doesn't have that ' "thank the Cannucks this is finally done with", feeling. Another piece is the update on drilling and of particular interest is parallel zones that would give us "Geita: type numbers.
Long term the story is still a good one . Canaco a stock you will wish you would have kept tour profits in two years from now when it is double digit in share price. Short term it might hit $3.00 but it seems very unlikely as we witnessed some selling 75,000 shares at market to drive it down to $3.45 only to have three guys from T.D. buy 285,000 shares up to $4.32.
I have to agree with IKE the pros outweigh the cons. At the same time it never hurts to follow the market makers if your smart enough and make money on the swings. Just a few thoughts on this cold , wet , lousy Sunday waiting for the Cannucks to start round three. Wondering if the 5 million foreclosures left in the U.S. will stall out the U.S. recovery for another year and drive the price of Gold to $1760.00?? Or will Germany pull it's support and have the Euro tank. Maybe the world money manager( for challenging loans to struggling countries) gets charged with rape and jailed in New York and investigation into his life reveals other earth/financial shattering plagues headed for the world banks??
Will the U.S. get involved in Syria, Will they pull financial aid from Pakistan, will Egypt cancel the peace treaty with Israel and start world war three (ish) . Will all the flooding and droughts cause world wide food shortage and it won't matter how many shares of Canaco you own you still can't buy a loaf of bread to make you butter sandwich?? Just too much stuff. That was all from 20 min of news this mourning. I had to shut it off before I jumped out of my second floor window.
Anyway enjoy yhe game, keep the faith IKE and keep the good posts rolling. If you chart guys are good at posting it might be helpful to see some comparisons if your up to it and have the time.
E.O.M.