Thursday, January 16, 2014
Let's check in again on B2Clive and Rio Alto
Let's look at the only two gold miners worth worrying about: B2Gold and Rio Alto Mining.
If you call that big December consolidation a pennant, then B2 maintaining its price over $2.30 must count as a breakout, and I guess it targets $2.65 or so?
Rio Alto is still +2SD, but I assume that it might stay overbought given the last several days' buying volume. So its overextension from the SMA(50) doesn't concern me so much. Ultimate target $2.20?
I'd expect both of these targets can get hit by end of January, so it's not like I'm in this long term or anything. We'll make up some new plan when this one is over one way or the other.
Disclosure: yeah I own lots of both. It was either these or the Nasdaq 100, and I thought these might move faster.