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The day after is more interesting than the day

Just for a change I've been doing real work this morning, because time has taught me to pay close attention to mining stocks the day after any (gold-driven) big upmove. The consolidation day is far more instructive than the day in which they all go pop, you get to see the relative strength more clearly. 

What I want to see in a stock price on a day like today is simple enough: A small drop compared to peers on good volumes. A consolidation drop is normal and we like that, but if volumes are strong it points to a company that's still being considered as cheap on its fundies by the players that matter.
  • I don't want a big drop, that's a sign of weak hands bailing on a flip. 
  • I don't want a small drop on low volumes, it's inconclusive.
  • I don't even want to see a stock rise, because it means it's out of synch with the market and probably a backwater stock or maybe a pump job (unless there's some specific company news that's out).

Trade flipping in hours or days usually isn't my thing, taking longer-term fundies positions is. That normally means not paying much attention to the intraday ticker but on some occasions it makes sense to stop the snarky blog blathering and pay closer heed. Today's one of those days.

Bottom line: The conclusion drawn by 95% of readers to this post is...

...and rightly so. Enjoy your Thursday.