I sold 25% of my KRR position at $6.37. I had a sell order in at $6.25, but the share price seemed to stall at $6.24 which I interpreted as a bullish flag (without having a chart handy). So I pulled that order to see if my hunch played out…which it did. My hunches usually don’t work out like that!
Holding the rest to see what happens next. Earnings on March 14.
The small gap down right at the red MA says as of this morning the trend is still strong. Currently we have the convergence of the three shortest MA’s as price has consolidated for most of today. It’s either pushing higher by the EOD or it’s time for a deeper retracement. We’ll know by the close I suspect.
Today worked out as planned on KRR with 5%+ gain. 1 to 3 more up days before correction?
I sold good size position today had to take some profits made mistakes before by holding to long, waiting for a pull back I hope to re-enter.
Great company.
The gap down open today right to the red MA on the 5 min chart was the tell that the trend is still strong. At this point I’m pretty confident you’ll know when a deeper pullback is coming because KRR will likely gap up at the open. Then you have to see if it is going to push higher for the first 15 - 30 mins and then start a deeper retracement or if it is going to start the retracement right from the opening price. The 15 min chart here shows the stock went into a narrow range price consolidation after the first hour and a half of trading. So far the violet MA has been the support line through the whole breakout. It’s the equivalent of a 10ma. The red 20ema below should also be watched.
The 5 min chart shows whomever was accumulating today had 6.36 as their support line in the sand.
Although the daily/weekly/monthly charts are all showing RSI oversold, the candle today is both the most expansive and the highest volume day in the three days of this breakout. Along with the close being just off the high, I’m inclined to think tomorrow will be another day of new highs. Just keep in mind that if you’re looking to take some profits near the highs, tomorrow is day 4 of the breakout, although probably the reason we’ll get new highs to some degree tomorrow is because that first day was pretty lackluster. I’d be willing to bet pretty confidently that if the stock gaps up tomorrow it is likely to begin pulling back at some point. Another consideration is that the 7.17 target of the cup and handle isn’t so far away that it couldn’t hit that target before starting a retracement. It also doesn’t have to hit that precise number, so be flexible.
Today was a very good day for the PMs. I’m sure everyone trading noticed the VIX was over 30. Many are familiar with Bob Moriarity, but I thought I’d post the following excerpts from a recent blog for those who are not familiar with his blog posts. These are excerpts that caught my eye. On second thought, all 11 are useful, so after the 1st one, I’ll just outline the subject line:
Navigating Tumultuous Markets: 11 Lessons Learned Over Three Decades Of Trading
1 Mar 2022
- You don’t have to trade. Despite the always present temptation to trade, sometimes the best move is no move at all. Being patient and waiting for market conditions to improve can oftentimes be the most effective choice. Taking a step back can also help us to clear our mind and work on improving our trade setups, our trading psychology, and our trade criteria. You don’t have to catch every market move or buy every stock that’s making 52-week highs. In fact, you simply can’t. Being ok with ‘missing out’ is critical to an optimal trading mindset.
- Risk management is everything.
- Reduce your position sizing.
- The bigger your positions, the less room for error you have.
- Hold more cash than normal.
- Increase your focus by reducing noise.
- Commit to spending at least one hour of your trading day moving your body and getting outside.
- … respect your stops!
- You don’t need to know what’s going to happen next.
- Fundamentals don’t matter in the short term.
- Never trade on margin!
Greed kills. Margin kills. Just don’t do it.
The full blog is available here:
(Navigating Tumultuous Markets: 11 Lessons Learned Over Three Decades Of Trading, by @Goldfinger)
While gold and silver are central focus to everyone here, do pay attention to other sectors and commodities that are having excellent performance that have already been mentioned or overlooked (ev metals, oil, commodity etfs). I’m sure others have some in mind and perhaps can post favorite picks on this thread and make use of the Charts for Metals and Stocks 2022 thread.
Labrador Gold (LAB) chart looking like a breakout is near with 5x recent volume traded yesterday. LAB holds properties in Newfoundland immediately adjacent on the northside of NFG’s spectacular Queensway gold project and are drilling (50,000 meters) on the same Appleton Fault. The last drill results were release Jan 15 and shareholders are expecting more drill results soon. I bought in at .87 a few weeks ago and I’m considering adding to my position.
Holy crap! Nickel halted by LME…now trading over $100,000
LME Suspends Nickel Trading After Prices Soar Past $100,000 | Investing News | US News
This is the nickel chart after yesterday…and it more than doubled since.
This bodes really well for KRR as Easy mentioned yesterday since they just discovered a high grade nickel zone at Beta Hunt.
It’s better than that; after all KRR use to be strictly a nickel mine(previous name Royal Nickel) even when nickel was worth a small fraction of the price that it is now. I suspect they will start promoting the nickel aspect of it shortly. (They have 900,000 tons at almost 3% Nickel reserves all adjacent to existing mining tunnels so what $2.7 billion worth gross?) Upside potential here has more than doubled for sure. I’m inclined to just sit on my position for a bit longer. Expect a Major to either take a position or attempt to take over KRR.
Definitely Mike. I will continue to hold and just trade around a core position. Looks like KRR is gapping up again today. $6.60.
I have a large long position on this one as I’ve been accumulating since last year. Lots of DD on the website (https://blackrocksilver.com). I’m not trading this one because of it’s potential. It was very volatile with a range of (low 1.02)( hi 1.19) (BRC.V) and low - 0.8095 and hi - 0.9153 (BKRRF) today. Anyone daytrading this one? I’m not into day trading, but this stock had a lot of exposure on the old Other Mining Thread. Blackrock Silver is funded for the drill season. I may be swing-trading this a little later as drilling results come in throughout the summer.
TR, Chart when you have time please.
Please post chart on the Charts for Metals and Stocks 2022 thread.
Thanks,
EZ
I don’t know how many noticed that the 11.6% nickel isn’t even in that 400 Meter extended length which was the main focus of the announcement HR posted. It is 1 kilometer away from the current reported drill results! It has yet to be explored and drilled.
The potential growth of the 50C and 10C nickel mineralization is not capped at the current strike length. A historic drill intersection of 11.4% Ni over 9.5 metres is located approximately 1 kilometre southeast of our current drilling, supporting our hypothesis that nickel mineralization may be significantly more extensive – an exciting prospect.
Karora is going to be a very profitable and exciting investment for many years at the rate it’s going.
For those who have been waiting for Novo to break out of its slump it looks like today will be the day. I bought some Novo on Tuesday. I believe there’s a chance for a tenfold gain in Novo over the next 12 weeks and a threefold gain in the next 6 weeks. . . very few stocks with valuation ratios like NOVO.
Wow! I’m really going out on a limb on this one 
Price/Earnings (TTM)
4.43x
Price/Sales (TTM)
3.43x
Price/Book (MRQ)
0.66x
Price/Cash Flow (TTM)
3.65x
Why today? I remain underwater on this but plan on sticking it out for better times ahead. Thanks.
If you look at the linear regression line on the weekly chart for Novo it looks simularly oversold as it did back on March 16 of 2020. Also, if you look at all the main technical indicators on the weekly chart they are all on the rise. Add to this a big difference between the bid and ask and it all made sense . . . at least to me 
It is oversold or at least based on the info provided by the Company. One way or another, they do still need show that their mining operations is profitable which will validate their model for development for all the rest of it.
Metallurgical coal companies are getting some love lately.
HCC $41.53, METC $19.21, AMR $131.00.
The USA and Canada ships a lot of this type of coal out of country?
You guess where most of that goes…
History of metallurgical coal peaks have been during industrial expansion,
and in times of war.
These times feel familiar for some reason.For What its Worth by Buffalo Springfield play along with scrolling guitar chords and lyrics - YouTube
