Tuesday, May 12, 2015
MUX US ticker:
I just finished telling someone that the pop to $1.03 didn't particularly excite me.
But now that it's popped to $1.07 it excites me slightly more, since if it can maintain this price to the close that'll be the first time since its February puke that it's managed to claw its way back above the SMA(50).
I would still be more impressed if some volume came into this stock, because as you can see above volume has pretty much dwindled steadily since Feb.
Then again, go back to your 2002 tech charts and you'll see that volume does indeed dwindle at an ultimate bottom.
So I dunno. It looks hopeful, at least, and if you already bought at 95 cents you may as well hold and see if you can make some coin on this. If not, if you're stuck buying today than I hope you're happy with using a 10% stop loss: 95-98 cents looks like the point at which this breakout would be proven a failure.
Far as I'm concerned gold isn't dropping below $1180 again and Indian buying season is coming.
And btw it's trivially easy to make gold miner chart calls when the bottom is in and everything is going back up. Remember that whenever you see a chart-based buy call from now on.
UPDATE: oh look $1.09. OK, that's even more interesting.