GREY:CGOOF - Post by User
Post by
Masterbuilderon Aug 26, 2015 11:00am
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Post# 24052374
Sitting ducks.
Sitting ducks.If you have been following my posts I have been saying that CNL is a great trading stock and only a speculative investment because they burn cash, produce nothing and will need $500M to build a mine in the jungles of Antioquia.
I have also been forewarning of the 7 year crash cycle, usually in October, and clearly this possibility has increased with the recent turbulence.
Since gold did not go up $150 during this ongoing mess, I can't see any move but down which I have also been projecting. Hopefully you have kept your feet on the ground and are not a sitting duck by holding this stock long. I have repeatedly suggested... trade this thing for 20%-30% time after time due to volatility. You never even need to short sell. Just buy the dips and sell the run-ups. Here's what to watch in the next few weeks. Remember the last time the stock fell to around @$2.54 there was good support and they grabbed all the shares and bid them up to $3.00+ real quick. IF??? that support doesn't come in again, I would guess that the stock would?? slide towards $2.25 and if it breaks that, who knows. I see no reason for gold to rally, unless the 7 year October crash effect hits. In the CNL scenario you need to be a duck hunter. Sit and wait for the flock settle and predetermine when you are going to shoot, and I would say the right time is IF/WHEN?? big support comes in around $2.50. If you don't see that big volume support and the price drops lower... why pull the trigger?