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Richmont Mines Inc. Message Board

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  • whitesands_8 whitesands_8 Sep 9, 2010 4:42 PM Flag

    Had to sell...

    Nothing wrong with that...Looks like that may be a very timely move...Personally I think RIC is about to break out of a very long term pattern for an explosive move...That said there's some resistance in the 5-5.50 area and it wouldn't be surprising for it to pull back a bit from somewhere in this area before the breakout occurs...The unknown is, how significant will the resistance be, how deep will it pull back if it encounters resistance, and the amount of time it will take to recover from it if it does...Gold itself is right near a resistance point as well....But it's still remaining strong and looking as if it's about breakout as well as we're about to enter a seasonal strong period in gold...Perhaps a pullback of some sort and them boom big breakout for gold and RIC....

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    • Where do you see the resistance? At $5.25 close it looks like we broke through any resistance and there is nothing above but clear sky. RIC is up 1/6th since the first of the month only 9 days ago. I would say that the breakout has occured and we are now enjoying it. I will be happy with another 1/6th in 9 more days.

    • It's more of a market trade thing with me, If i get a good stock with good Vols, I'll sell at close as poss to hod, like today 50% at 5.20(ty RIC)... then if I get lucky I can trade it up and down at the top...

      Now I'll be looking to catch it lower if I like the market and have cash at the time...


3.20+0.02(+0.63%)Apr 27 4:02 PMEDT