GREY:ALXDF - Post by User
Comment by
goldopportunityon Sep 10, 2016 6:41pm
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Post# 25225547
RE:RE:RE:How is our Blue Sky potential.................
RE:RE:RE:How is our Blue Sky potential.................Hi Poriemon -- no, not worried about pp shares allowed to trade late next month for several reasons: a) Agnico won't sell their increased stake; b) my estimates put sp to be substantially higher in the next 5-6 weeks. As an aside, what happens Monday? Imo, azx has hit bottom here at .075 which is exactly a 62% retracement from the recent .055/.12 cycle low/high . Coincidently, .075 is also right at the mid-point between the 50 and 200dma. We tested this .075 level several times on Friday and everything held up well. I think we might trade in a very narrow half-cent range come Monday. Interestingly, the hui, xau, gdx and gdxj all had opening down gaps, but each indice was also able to fill a remaining pesky up gap. To sum up, downside risk is minimal right here on azx. Could possibly see a surface .07/.075 bid/ask during monday's session but I think the ask will be quickly taken out. Also, if memory serves we should be hearing drill results as soon as this coming week. So we'll see what happens next week. You got to be in it, to win it. Jmvho. P.s. Dennis Lochart speaks (8am) before the N.A. markets open on Monday. As he's representing the Fed, I'm sure he'll try to calm the markets. Should be an interesting day.