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Kinross Gold Corporation Message Board

  • nova46162 nova46162 Apr 30, 2013 4:33 PM Flag

    TD Sec raising price target to $9 is a positive

    I'd like to see it get there.

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    • Apr 30, 2013 4:46 PM Flag

      Actually, right now the downgrades are the most bullish thing. It is a contrarian indicator. Think about it. No financial institution puts an unsolicited downgrade on a stock unless 1) they are looking to get in at a better level and want to manipulate the market down, or 2) they are short and looking to cover ( doubt the latter). That downgrade "by Analysts at Scotiabank" is probably why the stock held at $5.30. Someone was buying massive volumes of shares at the $5.30 level today. They were sucking up every share they could get around that level. Today was an encouraging day in this stock. If gold dumps then that is a different story of course.

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