TSX:KRR   KARORA RESOURCES INC
On sale today.
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Comment:
I reiterate my buy rating on KRR... the amateur down below just confirmed it for me.
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Nice wedge breakout today. Buy the retest of the breakout.
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I also have buy orders below the recent lows because i am in accumulation mode on mining stocks now. Im not worried about another low as it will be an even better entry price.
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Loaded more today... breakout of 3.80 is a big deal. If it closes above here we may not see a pullback.
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5 waves up into fib resistance . Will probably have a sideways to down move now. We need to clear 3.88 for this thing to get moving.
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I took profit near the wave 2 high today on this one today as well as many of my other PM stocks. Although i still like this stock , i am not liking the current action in both gold and silver as well as the recent strength in the dollar and weakness in the euro leads me to believe that this complex correction is due for another down swing before it plays out. I feel there will be much better deals a few weeks from now so i have liquidated a large portion of my precious metals exposure for now .
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