NAK has the wind taken out of their sales. For whatever reason this stock is in reverse. The last 2 days gold up and NAK down. Although to be fair on previous trading sessions gold was down and NAK was up last week.
Clearly momentum has been lost with NAK. People are throwing in the towel and probably looking to capture momentum higher in other great stocks that are actually going up when gold and silver go up.
I suspect folks are keeping an eye on NAK for a lower reentry point.
Historically when NAK pops higher like a hockey stick it tends to retrace to slightly above the previous base. So if this holds true, this stock could retrace down to .60 - .75. and then continue higher.
Fundamentally, I see people looking to exit their positions prior to the FEB 22 news item of the DEIS. People will look at this as something that is expected for the company to have in hand without any problems. To the contrary, I don't believe this will make the stock rocket higher....but rather sell off on the news.
In conclusion, I see NAK trending lower this week (right or wrong) leading up to the news day on Feb 22. People don't want to go backwards between now and then and will happily get gains on other quality mining or ETF stocks and then look to rotate back into NAK after the 22nd and after the share price has retraced most of the gains to the previous base. This is just my opinion and $.02 and I could be wrong. My advice and thoughts are worth as much as you are being charged for them which is nothing.
For the record, I like the Pebble project. Technically the stock has no momentum and probably will not regain it until next week at the earliest. I am not short the stock. I am not long the stock. It is on my radar....as are many others.
