TSX:TECK.A - Post by User
Comment by
ellgaron Aug 03, 2011 6:28pm
257 Views
Post# 18901030
RE: RE: Your '200' price is VERY wrong,,,
RE: RE: Your '200' price is VERY wrong,,,If you look at the 200 MA on the weekly chart TCK.B is $35.27 $ TCK is $34.91 and if you set the chart at 14 months you will see that TCK was bouncing off that 200 this time last year, that's not long ago and POMO (QE2) had started in Sept 2010 and you can see the monitary support that had right up till the beginning of 2011.
I'm not wanting to be negative but I now hold way more TCK than I would want in this enviroment but found myself averaging down in this selloff as I feel we are now at another crossroads with the euro problems, US and world economy slowing and no more QE$$ to support the market (yet) .. still I feel this is due for a rally back to $50 but I will be carefull if Friday's job #'s are a big miss ... as of this mornings report it does look better than expected...lets hope for all the longs.