big break out, page-43

Hi Martis,

As mentioned I'm holding MGK long term, but interested to know how you pick your trades - As I also trade some stocks shorter term on the side. You managed to pick this trend reversal right as it was happening instead of waiting til 3 or 4c and missing out on further gains, so very curious to know how timed it so well. Did you have it on the watchlist to begin with?

I bought a core holding in the high 1's and then was planning to top up at lower levels, but the trend reversal was obvious, so I didn't wait and instead bought more at 2.2 and 2.4... and options over the last week... just a few, hard to get more than a mil their tightly held.

MGK has been in a downtrend for a very long time so to see this many shares go through in the last few days with a good break through 2c tells me something is up and I had to top up.

For those that aren't acquainted with the difference between fundamental investing and technical trading, a technical trader's research is generally driven by one thing - PRICE. That's it. That's the research. There are other indicators that come into it to complicate things such as volume, OBV, MACD's I'm sure you've heard them all - But everything that Matris has said about the price, is accurate.

IMO it's better to read these kinds of posts than repetitive posts that are merely copy-and-pasted announcements, or speculation about cappers - But, everyone has their own style.

If anyone has a charting program and 2 minutes I would love to see an updated chart.

There's nothing better than to see a fundamentally great story unfold in tandem with a technical breakout and uptrend. One look at John's maps would tell you this stock has been fundamentally strong for a LONG time in terms of the quality and quantity of prospective land held in this yet-to-be fully rated part of the world -

BUT,

now we have shareprice action that better reflects this story, and as drilling gets underway, and the gold price continues to strengthen, and a Big Miner potentially jumps in with a JV proposition, I can't see the interest in this stock fading any time soon!