Tuesday, September 21, 2010

BOUGHT CMIN - $0.365

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Yesterday (Monday) I made two additional purchases of Constitution Mining Corp (CMIN) for a blended price of $0.365.  This stock is proving to be one horribly manipulated by short sellers - and not a situation that I care to revisit once I get my money back.
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Selling volume appears to have all but dried up and the Money Flow Index (MFI) really has no choice but to break out to the upside, either today or tomorrow.  Once the buying begins I expect price, and the True Strength Index (TSI) indicator to head north as well.
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I suppose for a reader who has not already put some of their chips on the CMIN table this is a pretty good time to buy a little.  History seems to show that once the short sellers decide its time to pay themselves for their deed (ie. buy back their short positions), the stock price will rocket about 50% higher in the course of just 2-3 days.  For myself, that will be approximately good enough to break even.  For someone else, it could be a very quick and massive gain.
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Click on the chart to ENLARGE
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My TSI Trading record has been updated.

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