GREY:NRRMF - Post by User
Comment by
bplondonon Jun 20, 2011 2:40pm
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Post# 18739384
RE: OK Hits New 52-Week High in a Weird Fashion
RE: OK Hits New 52-Week High in a Weird FashionYou would think that the author of that article would have at least clued in that Orko's addition to GDXJ was the primary reason for the spike on Friday.
Nonetheless, the ideas that the pros were out in full force taking the stock down into the high $2.50's to then flush out close to 4 million shares and then still have the stock back off to under $3 on the close hits the nail on the head.
Trading action is similar today on virtually all the GDXJ entrants; they are all pretty well backing off 2-3% on more normal volumes. They could potentially even sell off a bit more.
Which simply takes us back to the waiting game on Orko. The same old stuff. The PEA and updated resource count will be the only things that really move this stock. Until then it will be the same down and up game in a pretty limited range.
There's only two questions: whethr to buy more on dips and when it's actually going to happen.