MR is OTC but in Canada, it's on the board as CA:MR at Bigcharts. And it looks good to me.
I'm going to find out if I can buy Canadian stock through my Scottrade account. I'm not sure if I can or not.
In any case, if you look at CA:MR, Metallica Resources, I think it's a perfect time to buy. It's had a substantial manipulator's accumulation period of several years and it's hitting new highs just over the past year.
The only thing that makes me pause is that the accumulation occurred while under a dollar a share. I don't like that as seen in previous threads here.
Scoring disabled. You must be logged in to score posts.
I believe i've also heard that Canadian stocks are much easier to manipulate, with less regulation. I think i would study a few other charts from "up there" to draw some conclusions about how they react after what appears to be consolidation. Sorry, i was not able to view the chart. ---------alan
Scoring disabled. You must be logged in to score posts.
Checked it out at bigcharts- I see a nice formation. Note the low volume with little price action throughtout 2000. It ended with the price slipping into a nice, gentle downtrend. Perfect signal of good things to come. Then came the price breakout on heavier relative volume. You would have waited to see if it consolidated. It did. Then you would have to decide if you wanted to wait for the next price break or get in during consolidation. I prefer to wait for the next price break. It came, can't remember the price but it seems to me it was in the .70's. This is when i would have bought this one if it was on my watchlist. Has moved about 100% since this point. One thing i would say about entering any TW stock is that you can locate a candidate with the longer monthly views, but i would recommend ALL entries chosen with the use of daily charts. I'm not saying entry at this point is unwise, just that it could have been seen much earlier. --------alan
Scoring disabled. You must be logged in to score posts.