OTCQX:BGMZF - Post by User
Comment by
Cognition777on May 09, 2016 2:49pm
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Post# 24854931
RE:BGM Trading Never Ceases To Amaze Me
RE:BGM Trading Never Ceases To Amaze MeHold the line Pack man; the gold rise in Feb goes along with the rise in BGM... arguably, BGM will increasingly be responsive to news about progress on mgmnts plans for Bonanza production and Cow Mountain resource updates and FS.
Gold is still on a gently rising slope and looking to break higher not lower... BGM has remained relatively high in the upper 50's, but is not likely to drop below .48 w/o a reason to do so. As you note, volume has show tremedous support for BGM above .55 and will return quickly when gold turns back up within the next week. Any news from BGM will only add to the positive sentiment and price appreciation.
I'm buying on this temporary weakness for sure.
The "sell in May and go away" ritual of some may be adding to the last week of selling also; pretty sure with BGM's plans over hte next 2 quarters that those people will regret their allegiance to a misunderstood ritual.
IMHO