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Here is my chart from yesterday with comments
“”Very interesting and bullish developments on the long term chart. There is strong support at 5
cents with only a brief dip below this when flow through funds dumped their stock last year. For
the most part, these funds are only invested for the tax break and just rotate money into new
finance deals. That long term support (black line) with the blue down trend line is forming a
wedge pattern that the stock will break out from. I have no doubt will be to the upside.The flow through funds are pretty much done selling. There was about 3 million flow
through shares that became free trading around mid September and their immediate selling
whacked the stock down from the 9 cent area to the current 6 cents. TD has also been a seller
last few months as quite a few retail investors bailed at the bottom here. Interesting is Raymond
James has been a big buyer, usually meaning U.S. buying. There might be a little fund share
selling left and we might see some tax loss sellers. Tax loss selling usually peaks around
December 15th, so between now and then is an excellent time to accumulate.””
