Sunday
Jan282007
Santoy Resources Ltd: Keep an eye!
Sunday, January 28, 2007 at 07:59AM
After massive run up this uranium stock could be running out of gas.
We bought this stock at around $0.80 and it is now trading at $0.98 so a little progress has been made. However take a quick look at the chart, the one thing that sticks out is the volume which has dropped from trading a million plus shares a day to yesterday when it traded a tiny 177,665! This is only a slight concern but with the ever increasing number of ‘Hot’ uranium stocks coming to market every minute of the day we need to tread carefully. Some traders having made a quick buck will move their cash to the next profit making hot stock, regardless of quality issues.
For now we will stick with it and observe the price action, etc. On a positive note we do like the constant news stream that Santoy seems to manage to produce, an obvious sign that they are getting things done and going places.
Hang on in there.
28 January 07
We bought this stock at around $0.80 and it is now trading at $0.98 so a little progress has been made. However take a quick look at the chart, the one thing that sticks out is the volume which has dropped from trading a million plus shares a day to yesterday when it traded a tiny 177,665! This is only a slight concern but with the ever increasing number of ‘Hot’ uranium stocks coming to market every minute of the day we need to tread carefully. Some traders having made a quick buck will move their cash to the next profit making hot stock, regardless of quality issues.
For now we will stick with it and observe the price action, etc. On a positive note we do like the constant news stream that Santoy seems to manage to produce, an obvious sign that they are getting things done and going places.
Hang on in there.
28 January 07
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