Old support levels of 3.7/3.8 and resistance at 4 with that 1.7 mill seller sniffing around. Need a buyer or two to come through as usual. Never thought we'd see 3's again after the surge to 4.5 last week. Hope that wasn't a genuine pump and dump?
There are a handful of juniors crossing the bridge to producer of late that i've heard of on the various discussions on hot copper which are all south of where they were upon announcement of first production. I've taken mental note and reviewed a few of them but i haven't writtem them down unfortunately. I'm sure others are coming across this pattern right now? Not sure why this is persay but one theory is that perhaps short term traders are basiclaly moving on to the next minnow with trading potential and leaving long termers to sit out the long slow slug ahead. So it comes down to trading strategy. Its up to the explorer come producer to score some runs to bring in the next wave of investors, the serious investors I believe not just 3-6 months or less buyers of moderate parcels but large investors who intend to hold for years. This transission period would naturally create a lull in the sp due to supply/demand and this is where if you have the strategy of holding strong and long through the lull period and the ball is belted all over the park the runs WILL come and the long money will too. CCC for me is in this lull.
There will come a time, whether its tomorrow or in three months or longer when the large investors can see a decent management batting avge and will decide that CCC now fits there inventment criteria and up up she'll go.
CCC Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held
