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McEwen Mining Inc. Message Board

  • the1stockman the1stockman Feb 1, 2012 8:53 AM Flag

    Whats Next?

    Looks like we achieved the first part of this leg-up. My comment was, ...

    "As long as this PM rally continues and news and market events don't change its course, the next area for SVM is the $8.50/55 with a stall at the $8.38/42 or so.The $8.20 has been achieved, a close above it will take us to its next level."

    I see the high came in at $8.45. A good print and it looks like it could take out the $8.50/55 with no problem.

    Anyone want to take a shot at the next area of support and or resistance? I'd like to pickup on your technical strengths, opinions and views.

    Until recently, ... I've posted here exclusively since last September and I've posted over 100-charts with detailed explanations in 761-posts. Hopefully some of this information Ive presented has helped some of you understand T/A a little bit more.

    What's SVMs next direction and what are we looking at for support or resistance chartists?

    Truman, ... claudiohbp, ... wolfgangren... ? Anyone?

    I'm always looking for another opinion or a point of view, 'One' should never stop learning. Wall-Street is full of heartless people that will strip you of your hard earned money. Keep your tool box full and use it often!


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    • Please listen...Orbit?...I mean Stockman?...I think? No one writes a thesis for a one line question like Orbit did.

    • Oops! A bit embarrassing to say the least!

      Sorry Folks. I had both boards open and made the mistake of typing my view on the wrong boards. Please disregard the original post, it was intended for SVM.

      Here is my view on MUX.

      Yes, a higher high printed today at $6.17 fullplateei but it gave way late Tuesday morning to a gradually weakening Euro$ and also some poor US economical news, non of which had anything to do with MUX in general, although we did get a favorable Seeking Alpha article which shows more recognition, ... anyway, .. we made the target I pointed to in the first chart in the post below, .. (in and around the $6.15 or so).

      We also have to consider the higher low that printed at $5.69 since MUXs Day-View last Friday, which was the $5.53 followed by the $5.54 and so on.

      Since the merge, the fundamentals of the combined company are not the same anymore, ... we have to figure out if we give up or ignore (to an extent) a large portion of its most recent T/A and start fresh from its Day-View last Friday, ... or do we adopt certain characteristics which might matter as we move forward. Any suggestions?

      For right now, ... since we printed a higher high, which is bullish to an extent, ... we watch for another attempt at both ends as it just might bump its head and stomp its feet till the stock or the sector makes things more evident.

      The upside target is still the same, ... ($6.40/50) area and the downside is questionable, .. well, ... until either $5.53 holds or gives way to lower levels, I think that will be the determining factor, weather the stock wants us to review its lower levels.

      I know my posts are a bit long, as Ive been reminded of my "Long-Wind" but I feel obligated to explain my point of view thoroughly.

1.59-0.02(-1.24%)Feb 12 4:02 PMEST