Sunday, October 18, 2009
Well finally the "Moose Pasture" has really come up with something worthwhile called the "RING OF FIRE". Basically undiscovered by Americans, a little chess game is developing as Cleveland Cliff's will probably end up with the lion's share of the Chromite resource that FREEWEST RESOURCES of CANADA is developing. Hitting a new 52 week high, entering a new AROON Uptrend, and a new DIRECTIONAL MOVEMENT UPTREND based on this weeks price activity. Volume activity was quite strong as it expanded with each uptick and declined in classic consolidation fashion as the stock backed off.
I got some inquiries about the US symbol and it is on the Pink Sheets as FWERF.
I am holding the stock as I have for the better part of the last two years after extensive DD awaiting the payoff from a lot of PGM, CHROME,and associated other minerals discovered. Do your own DUE DILIGENCE. My take is that the stock is one half way up the first leg of a "DISCOVERY PATTERN" and consolidating. For my shares, I expect a lot more than Noront's weak 4::1 all stock offer, so I'd not offer this as an idea for the wary. Given the risks, its a speculation, one I am in, so I will be watching. This is only part of the soap opera but if you dig a little deeper it might be interesting to some.
Meanwhile , take care