RE:First Quantum in a nutshell !techinfo wrote: Finally, we have a watershed moment for Canadian securities. For months now, commodities and metals have been hammered at the mercy of the rising US greenback. Yesterday was the signal the Canadian markets were looking for to begin cementing real gains for investors.The fact that rates will rise more slowly than first thought gives Canada the opportunity to easily outperform the US in the coming years. As indicated in pre-market activity the climb will now begin in the Canadian dollar, oil, silver, gold and of course copper. Beaten down stocks such as FM will now begin to attract more investors (brokerages) and the speculators will also pile in and daytrade. The latter is OK. That is why the swings are so volatile. However, the common denominator will point to a medium term rapid increase in the share price. I now believe that will be $12 in the next couple of weeks. Grant it, we will have retracements of course. That is healthy but the trend is now a close friend.
I believe we will see a test of $9 early this morning, could make it to $9.25, pullback to possibly the $8.70 level and then a reascension to the $10 - $12 level within a week or two. I think this is a buy and hold until the end of March, reassess thereafter. I will be taking a large position on any significant pullback to the $8.70's.
All metals, commodities are showing undeniable strength this morning, not just one or two metals, but all, a very important observation for investors.
It's gonna be a great day. Play the swings and don't get fooled. FM will trade fast and furious today and don't be surprised if a significant pullback does not happen so you may be out of luck scrambling to get back in !
Good luck all !
JMVHO
i was waiting for ur post, always intresting thx, so u think we should by at open or wait it to go down around 8.60 and then take the rally up ?