OTCPK:CPPMF - Post by User
Post by
Pat123on Feb 04, 2015 9:17pm
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Post# 23397523
Trading signals more 52 weeks low coming soon
Trading signals more 52 weeks low coming soonYesterday was a very good day for copper companies. Most of them were up around 10% (Capstone up 16% on heavy volume, Lundin up 10%, Hudbay up 8%). The deception was CopperMountain up only 4%. This stock is a pure play. It's suppose to react strongly to Copper price increase.
On top of that, C.U.M. lost all of yersterday's gain on a day that Copper was stable and the other companies kept most of yesterday's gain.
The stock has no Zip at all. That's definitely hidden more bad news to come. The stock has lost 2/3 of it's value since August and never showed any strength in the last 2 months.
With $400M in debt, negative cash flow in the coming quarters. There is not much hope for 2015. I own some but will not buy more at this time. On the next leg down we could see 0.50 - 0.60 easily.
When correction occurs on resource stocks, it's not rare to see 80% to 90% stock price deflation.
Good luck
Patrick