Wednesday, October 28, 2009
Serial Supernova UNCO rallies on news, Oct 27, 2009
The Serial Supernova status of this stock is confirmed by the five year history chart, top panel. The news announcement (approval for construction of new tailings pond at the Deer Trail Mine) hit the wire at 10:42 am. What followed and how significant it was can be seen from the day and 5-minute charts. Does the 5-minute chart look familiar? It certainly does if you looked at the similar PLMO and MYNG events.
The stock takes off at 0.0030, hits resistance at 0.0060 and then settles down at 0.0045 -- the factors of 2 work their magic. I wish it were so easy in other markets.