Just got back. Gone for a week to Topsail Island in NC to catch some waves and sun and while on holiday RIC printed fresh 52 W highs. Not surprised, of course. The physical is nar-nogging and way oversold currently. The target in RIC is in place, $5-6 US$. That's the MMO objective. Higher values ahead...B long and stay strong.
Yesterday they kicked the physical gold. Reason: The Fed blah blah blah. The Fed is in a corner. They raise rates, the stock market takes a plunge. Just idle hot air... Wanna invest into Argentina's Bond Market? This ongoing saga has investors taking a bath. Paper is just that, paper. Built on a "promise". Argentina re-naged. Gold you can't renage from. It's real. What if the US reneges on their paper? They have printed so much paper, wont take much to to go boom-papa-boom, out goes the lights. Look at a world map and find Argentina. A large country with many natural assets. Their paper is worth zilch.
Hey canada, you are in the park with 3. RIC is primed and ready to go much higher. The technical pattern looks superb. To boot, the company has excellent fundamentals. It's the best of both worlds. There's nothing out there in the $2 buck range that looks this good. This stock _will have an explosive run to the upside.
Right on atdowney. RIC was one of 6 stocks printing another fresh 52 Week High on good trade. The company has very good fundamnetals which is confirmed by the technicals. It doesn't get better than this at current values.
Looks like my target of around $6 was confirmed by the Canadian analyst last week. Their use of metrics is different, however, it's been said that all roads lead to Rome. That's good. Their evaluation is likely purely based on fundamental factors. Technicals already know that. When both are bridged, technical and fundamnetal analysis combined they confirm one another. One confirms the other and vice-versa. It doesn't get better than this. At $6.89 is fair, a 50% retrace.
The flipping will catch the shorts. This thing has bottomed out. The old saying holds: Bulls make money, Bears make money, Pigs get roasted.
It's a classic textbook B.O. It doesn't get better than this. The meat of the trend is directly ahead. Post B.O. is where the big gains are made, the longer-term trend, etc.,
Yesterday there were 3 stocks hitting 52 Week highs. RIC was one of the 3 on the AMEX. In Barron's this weekend it'll be interesting where it lands in the top 10 gainers for the week. If it makes it in the top 10, more fuel for next week and months ahead.
OOOPS honeybun, forgot something....NY Spot gold is up another $7+ today after yesterday's $20 move. I'd get 2 bottles of aspirin. Stock up, you know.....zzzzzzz
Chewing on a carrot sounds...What's up Doc? Can't stand the pain? RIC is slipping away from you. Today it pushed out of a 14 month base. It's textbook quality, might add.
Now, most have not seen the #'s today in the rags, etc., But when they get their WSJ, IBD, and other media outlets, they will see RIC breaking out to 52 Week highs. The technicians will jump all over RIC. Then they'll read the latest Q2 earnigs report, etc., etc., You know what? I'd get a large bottle of aspirins. You'll need them honey-bun. Ciao loverboy!
I'll take a woman CEO anyday of the week. Ms.Elaine Ellingham is terrific. A woman at the helm, you know things will get done. And things are being done. This little sleeper stock will bask in the sun in the weeks and months to follow. A little help from a rise in metal pricing will ice the cake nicely. And the AU chart is looking pretty good too I might add.
Yeah and I own RIC too! Check out Richmont Mines' Q2 report this AM. A blowout Q. RIC is ready to BO of a 14 month base. Lots of cash and making dough! They are sitting on a million oz. deposit of AU. Small share outstanding. $4-5 easy.
RIC broke out of a consolidation area this A.M. on hearty trade. The 52 Week high is @ 1.85 which is very close and above that completes a 14 month basing area. The MMO on the latter has a target between $4-5 US$.
The 2nd Q report is superb.
Fib retracements are thus: 23.6% @ $8.77. Then: 38.2% @ 11.99. Then: 50% @ $14.61. and the 50% retrace is : $14.61. The .625 as in Dows Theory is at $17.22. At the very least the .375 at $11.99 is doable.
Charles Dow banked on the 50% retracemenets. He either took the .375 or the .625 and "averaged them" to 50%. FYI Dow founded the Wall Street Journal, etc., Fibonacci was an Italian mathematician. He discovered the "golden ratio", about 400 years before Dow.