How closely have you been following Purav's posts?
Purav posted this Wed am,
"The 200 day SMA (a major support level) for LNC is at 1.315, it will surely bounce back after hitting that level and it has in-fact. You will see the SP testing this level at-least twice before bouncing back up, however there is always a chance for this level to be broken in case of an announcement like the one we had yesterday. Be very cautious at this stage. You will see a bounce tomorrow and then a retrace to test this level.
Always DYOR, after all its your money."
Purav has been bang on the money so far. So tomorrow I'm watching for a retrace to test $1.315. If it does, Purav is a total legend!
Lory ( i suspect :-) ) will look for an exit point with a close trailing stop, if required, or Lory will let his profits run, which ever is applicable.
Keeping in mind resource stocks have had atleast 1 good day :-), and its profit taking Friday, followed by not much action Monday.
Not advice, just my opinion
LNC Price at posting:
$1.76 Sentiment: None Disclosure: Not Held
