What's up with that, not used to it? Not complaining by any means. A friend of mine who has traded the TSX Venture for more than 30 years says price action almost always reflects upcoming news. Could there be something in the works or are we just being fortunate?
I see PEIX is having another off day and surprisingly, or not, no sign of mouth peice.
Yep, it's funny how they're always here like a fly to sheet when things are down and they incessantly spout their drivel but nowhere to found when things are the opposite. We are stuck right up against a previous resistance level at 2.79 which was our our high off of the Q3 earnings release on 11/15/2011. But we have now made it through the 50 MA and blasted through the 100 MA yesterday and have pushed through some significant previous down trend lines including today's trend that takes us back to the 5.00 high. March is a big delivery month for silver and December is generally the biggest delivery month of the year for silver and January is the weakest. Yet January now stands at 5.6 M ozs to be served vs Decembers 5.1 M ozs. Demand seems to be high, next month should prove to be a good month if all holds as it should and follows last years action.
I doubt there is any news coming out. The price rise, of course, is simply a reflection of the precious metals action in the market. Now IMO, the reason GPL is outperforming is because it has BEAT to hell the last few months. Way more than EXK for example. Put it this way, early last year when I was trying to decide which stock to buy, EXK or GPL, GPL was at $4.60 a share and EXK was at $9.XX. Compare those prices to today and just look at the %'age difference. It looks like I made the wrong choice. But I was lucky enough to average down over the past year. It's almost unbelievable that I am FINALLY green on GPL after so long!
I agree with both views GPL is a good merger/buyout candidate at this price level and it has also taken a pounding on it's share price due I think, in large part, to Q2 leftover concentrate and a continual lack of meeting or exceeding estimated production targets last year. If they can meet or exceed those estimates this year and get the cost of production down and show a continued increase in resources at San Ignacio and Santa Rosa GPL could see a much higher S/P in 2012 -2013.
No one here, including myself, should tell you where to enter or exit. I will only offer my own opinion and that's all it is by looking at the chart and certain indicators. This is far from an exact science, just a tool to increase your odds of a good entry and exit points. Previous support/resistance levels, Fib points, RSI, +DI/-DI, ADX, W%R, Stochastics, previous trend lines can act as support and resistance and others. These are all things to look at when trying to establish good entry and exit points and if several combine this can increase your odds even more.