Also, I wanted to hold more senior producers, since they've been doing so well.
But I'm happy because not only is $HUI apparently gapfilling, but also SLV is painting a big white candle - which to me, in a downtrend like SLV's had recently, is its way of saying "enough's enough, SLV is undervalued now". If nothing else, there is now more resistance to further downmoves.
Which gives weight to the argument that the last 24 hours' downmoves in gold and silver were just born of temporary hope that Europe would extricate itself from hell. Which it can't do, the math proves it.
By the way: would you buy this stock?
Mickey Fulp apparently likes it. But look, it's like a bowl of cold puke. It's stuck below its EMA(8) and only going down. When you see a chart like this, run away!
Stupid me, I bought it because of the Mickey name. Now I'm going to try to dump it if I can get some strength in the next couple days. Upon looking at this chart, I realized what a moron I was. There's also chatter on Stockhouse that recent drill results prove they have nothing in Mexico and they're stuck trying to prove up their Yukon property. Aura Silver, anyone?
In fact, from now on before buyig anything I will always chart the stock on stockcharts like this, against a short-term EMA that seems to govern uptrends and downtrends. I only now realized that I should be doing this for confirmation, all the frickin' time.
Now, here's something similar.
Now would you buy this? It's been a past love of Gary Tanashian - dunno if he still likes it or not.
On the one hand, it's also leading its EMA(8) downwards. So how low can it go? But on the other hand, it's now at a horizontal support level, which also corresponds to its SMA(200) right now: you could buy here, and assume this should be as low as it goes. If it loses support bad and drops below $6.80, say, then maybe you want to bail? Although Gary's stocks are also viciously volatile, so $6.80 could be a headfake with maintained support.
The nice thing about ATC is that some anal ysts are calling it a fantastic buyout candidate, and this is buyout season right now for gold stocks. I've actually since looked at the mine layouts and they aren't that bad - unlike one of the BHV properties, which seems to be an attempt to mine a blackhead (i.e. highly vertical orebody, strip ratio would be bad, with a plug of intrusive in the middle). I might not have read the BHV report right, so don't go by me, but on first glance I wondered why the heck I was holding any... so I sold today.
But as for ATC, I'm willing to hold, since the buyout value is apparently good and the upside to a drop below support would be a run as far as $10 maybe. If not $10, at least a partial Fibbonacci retrace, right?