Look at the below chart, I see $24-25 in a measured move in its future. Two choices for me, buy again above today's high, and/or wait for a swing low to form at a lower price. I'll probably opt for the latter.
Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Friday, November 5, 2010
IAG - on sale
IAMGold just reported record production and earnings, but the stock sold off. Why? They reduced guidance at their mine in Burkina Faso due to a mechanical shutdown for three weeks. I own IAG and see this as a sale to buy more shares for the future.
Look at the below chart, I see $24-25 in a measured move in its future. Two choices for me, buy again above today's high, and/or wait for a swing low to form at a lower price. I'll probably opt for the latter.
Look at the below chart, I see $24-25 in a measured move in its future. Two choices for me, buy again above today's high, and/or wait for a swing low to form at a lower price. I'll probably opt for the latter.
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Bob, I started my first tranche of DNN at 2.4 this morning and already also added a bit to my IAG when I saw the slam-down this morning.
ReplyDeleteKathleen, IAG's problem is shortlived.
ReplyDelete