Breakout very soon?We have been trading in a two cent range for over nine weeks now. During these nine weeks we have traded 6,000,000 shares on the TSX, 2,000,000 shares on the Alpha Exchange and 4,000,000 shares on the US Exchange for a total of 12,000,000 shares. Generally speaking anytime you have such a tight trading range the breakout is usually very volatile. As everyone knows we are waiting for assays on the first 8 holes and if the results are positive the breakout will be to the upside. On the other side if the assays are disappointing the breakout will be to the downside. Many have positioned themselves on the bearish/bullish expectations scale.. If the break is to the upside the move will be violent as those who chose to wait until the results are out will be scrambling to get a position.
I must disclose I am ultra bullish on PWM and hold a large position. Should the assays confirm what Dr. Julie believes about the potential of Case Lake I will double up my position immediately. If not I will be trying to control my losses as best as possible. GLTA