RE:RE:RE:RE:RE:RE:Interesting intraday trading.auburn2,
I track 80 junior gold and silver stocks and rank them on the basis of market capitalization/oz of quarterly gold equivalent production. It serves as an initial screen to identify the cheapest gold stocks. I use the weekly changes in valuation rank to give me buy signals, so it is changes in valuation rank that I look at.
Then after I find a stock that I am interested in, I look at the financials in detail, and do a production model. In the case of Mandalay Resources, I bought 2000 shares of this stock for the dividend, and I paid 70 cents per share. When it hit 25 cents, I doubled down on my position, and did another double at 19 cents. Then when it bottomed at 15 cents, I did 2 triples on my position and now my average cost is close to 20 cents. I am a long term holder of this stock.
Since when is buying a stock at the bottom of its trading range not a good strategy? After all, apparently Goldman Sachs agrees with me, because they have been buying continuously for the past several weeks.