American Bonanza Gold Corp ABGFF

RE: RE: RE: Seems like Insider buying

[DetVicMackey]

I think unusual spikes, like on Friday, are caused by several factors all aligning at the same time:

1) Price finally broke out of a 9.5 month trading range of 0.32-0.43

With sellers drying up, the buying pressure gained momentum upon the price breakout triggering more and more buy orders. Some participants may have had buy stop orders.

2) POG making another record high

Self explanatory.

3) Chen Lin's recommendation

Given his track record, followers of him may have decided to accumulate shares as quickly as possible while using high expectations as a reason to pay up for them. BZA has good retail exposure with advertisement on Jay Taylor's radio show and it does not surprise me to see House #2 RBC being net buyers.

Without any official news, I decided to unload the bulk of my shares into the spike. Having seen it pull back from 0.57 to 0.51, I put in a sell order at 0.54. After several anxious minutes, I got filled when prices went back up to 0.55 for just a couple of minutes before sliding to close at 0.465. Hoping to reload at lower prices or on new developments.