"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Monday, November 21, 2011

MFN, etc. (NFTRH email update on Nov. 17)

MFN chart from 11/17/11 NFTRH Update
"For those interested (I have not yet decided, personally) Minefinders has been hammered down toward support compliments of a sell call by mining analyst John Doody, if the scuttlebutt I hear is correct.  I have noted support (roughly 11) on the attached chart for those interested.

Meanwhile, the Gold-Silver ratio looks bullish (bearish for most everything else), but SPX continues to try to hold the triangle and is above the critical 1220 level.  HUI is flailing below 580, but a loss of this level is not yet confirmed.  If it loses 580, the next target is 550.

This is a tough market that delights in not revealing its intentions.  Even my patience is being tested.  Fun stuff. "

MFN dinged 11 exactly this morning.  I bought it even as I sold a couple other non core items that were holding up well amid an ongoing risk management regimen.   What are the chances that 11 will be the magic number in MFN?  Damned if I know, but I will not bag hold the position much under 11 if the macro keeps falling apart.

http://www.biiwii.blogspot.com
http://www.biiwii.com

at 11/21/2011 11:12:00 AM
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2 comments:

  1. "Minefinders has been hammered down toward support compliments of a sell call by mining analyst John Doody, if the scuttlebutt I hear is correct. " - Correct! He issued sell recomendation on 15th Nov after market close.

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  2. Thx for the heads up!

    OT, entered SCO at almost the exact oil top. Out today with nice double digit gain. Probably missed much bigger gains if I held. So be it.

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