$40 cents club, page-640

Interesting day, interesting week - volume increased last Monday, and then was up everyday thereafter with the (obvious) big on Thursday.
Todays volume of 44.5m was higher than everyday last week baring Thursday, and indicates that institutional buyers are still getting on board.
Technically, today's "hammer candle" is short term bullish, but as somebody noted, a short position has opened in RED - shorters are not dumb money so, expect a correction albeit it mild (as long as the POG remains in record territory).
Todays 12month high, means that RED has gone from a high 38c to low 12.5c back to 38c .... what a ride.
Technically 40c is immediate resistance and 34c near support - the closing market depth showed lots of bidders at 37c and below.
Next key event will be the next quarterly / half year report, which hopefully will announce strong production, increased cash flow, increased debt repayment etc.
Not sure when the next GDXJ rebalance will be announced, but if RED gets included, this will require about 5% of RED's shares ...