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Cline Mining Corporation T.CMK



TSX:CMK - Post by User

Post by bond46on Apr 27, 2012 10:59am
287 Views
Post# 19843828

CMK: capitulation

CMK: capitulation

The trend reversal for the CMK did not occur yesterday, because the increase in price was not confirmed by volume. The capitutulation day however was on Tuesday April 24 with a large volume. After that the volume tapers off and the stock is moving sideways the last two days. This means consolidation and indecision by the market participants in view of the upcoming NR. Right now the stock has established a tentative range between 98cents and 95cents. But this trading range is set by the market makers who set the bid and ask on the floor of the exchange and has nothing to do with supply and demand for there is no volume. The volume is the Stock's average everyday volume and is not going to break our or down before any NR.If you decide to add positions, place limit orders or the sharks out there will eat you for breakfast, if you pretend to be a trade. If you want to be an investor entering the stock one or two cents up or down does not matter. And always bear in mind that the rules of the Junk Science, technical analysis, do nor really apply to penny stocks. 

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