| To: littlebitmoore2 who wrote (14103) | 12/29/2008 1:31:58 PM |
| From: SliderOnTheBlack | of 22924 |
| |
littlebitmore2 re: JAG MFN AUY...
JAG has had some "blatant" tape painting going on. I've seen
some pre-market trades leap .50 cents over the bid/ask
and some sloppy and very obvious "walking up" of the stock.
While they do have a buy back on, I never really saw any
volume indicative of serious follow through, and it doesn't
make sense to push the stock here.
At first I thought someone knew something, as JAG is a
legitimate buyout candidate, but again, the volume didn't
follow through.
I'd be taking "some" profits today/tomorrow on ANY rally in
JAG, as I think you can buy it back cheaper in the first
couple weeks of January. But, I would NOT dump it all, as
it's still a primary takeout target.
The gold stocks have nearly doubled, with the HUI Index
up +77% in the last 6 weeks. MFN is still lagging value-wise,
and I think it can make a run to $7ish if the gold price
holds this range.
AUY has had a nice move here, and is no longer lagging the
index, but it was $10/$11 at a similar gold price in
Aug/September.
This rally in the HUI rolled over at 311. I was really hoping
that we'd see that taken out today and a rally to 320ish
tomorrow, pushed by some fund "Tape Painting" and the rally in
gold and silver prices.
Ideally HUI 250, which was a key resistance point earlier
in the cycle, and was again during the last week of November,
can now become new support.
S.O.T.B. |
