Bio Extraction – BXI.V did exactly what the chart was implying. I did add to my position today as I am not arguing with strong stocks. Au contraire. I add to my best stocks and do my best to push winners. My annotations on BXI.V – Bio Extraction have been very clear from day one. The stock kept displaying incredible strength and bullish behaviour. It kept acting right and it’s also one of the few stocks on my public list that has a daily and a weekly chart featured.
Today the stock is reiterating its message: “Buy me or buy more but please don’t sell me”. For now it looks like the consolidation period has ended. Printing an all time high is without doubt an extremely bullish signal. This gives us an obvious immediate price target of 2.00$. Going forward I expect much higher prices. Management has been outstanding. It’s the same with trends. Trends last longer than you think. Therefore odds that outstanding management keeps making great and shareholder friendly decisions are very high. I have no reason to doubt this company will prevail and ultimately succeed. It’s very simple. And if you are a regular reader you will know what I’ll state…
As long as the chart doesn’t give you a reason to sell – do not sell.
Up-to-date BXI.V – Bio Extraction Daily Chart on my public list.
Up-to-date BXI.V – Bio Extraction Weekly Chart on my public list.
A few more thoughts on VEN.TO – Ventana Gold as the stock keeps printing new all time highs as well. I recently wrote that Eike Batista the Brazilian billionaire added more shares to his position. I have computed the numbers and the average price he paid for the shares he recently bought is 8.05 CDN$. Three things I would like you to keep in mind:
- He bought AFTER the drill results were published.
- He is pyramiding.
- The fact he is a billionaire tells me he is not looking for 20% returns.
As I have stated in my last posting I think VEN.TO – Ventana Gold will be bought out by a major. They will have to pay a premium. My best guess would be a 15 – 20$ price target down the road. As long as the stock keeps acting right I will just hold. Chances are I will end up holding until that major gold mining company comes along and makes an offer to buy them out.
Have a great evening!
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