GREY:JNRRF - Post by User
Comment by
BlindBoyon Apr 14, 2004 12:08pm
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Post# 7353833
RE: Holding Up Well
RE: Holding Up Wellwill history repeat?
we'll find out . . .
One thing I've noticed on Lundin stocks, is that the MMs like to "tease" the market with "tentative breaks" of TA supports.
It did so in January with the 60 day MA just prior to it's consolidation breakout (where it more than tripled); it's teasing the MA again, as we speak.
https://stockcharts.com/def/servlet/SC.web?c=JNN.V,uu[m,a]daclyyay[dc][pb30!b60][vc60][iLa12,26,9]&pref=G
Certainly the current overall weakness in the junior resource stocks doesn't help, either, but this is just a "breather" in the resource markets, imo.
I remember reading an article a couple of weeks ago by Jim Sinclair when gold was over US$420 . He was calling for a continuation in the gold market which would run upwards of US$480, after it tested US$390 +/- again.
He was looking forward to a pullback in gold as a bullish sign in the continuance of the gold bull market.
Lo and behold, we've now got a pullback approaching the levels he was looking for.