Hi Lou, What is your opinion on Pinetree Capital limited ? Cheers ! Tony Hi Tony, Thanks for the assignment. I last covered Pinetree Capital Ltd. ( PNP TSX) on July 22, 2009 and since that time the stock has had lots of movement but unfortunately it is now trading at almost the same level [...]
Right now the MACD isn’t signalling a change in momentum to the upside so you’ll have to be patient. Gold enjoys a period of seasonal strength from mid July to early October ,according to seasonality expert Brooke Thackray, so the waiting may soon be over.
Right now the questions are when and how will FT finance its equity share of development and will BNP Paribas secure the loan package it needs.
With TCK trading below its 50 and 200 day moving averages and significant resistance on a long term basis at $50 I think the best way to approach it is by trading.
Now that we broke support at $55 we will have to see if BUCY can get its chin back over the bar or if it will have to test support at $50.
At this point it looks like TKO is going to pull back to the 50 day moving average. Over the next twelve months the company will be spending to develop its Prosperity copper gold property with production not expected to come on stream till after 2013. Given that you are in the money on the trade I would suggest booking some of your gains.
I think patience will serve you well until the selling is behind us. Watch the MACD, fast stochastics, and the volume for signals that its time to head to surface.
