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Volume Precedes Price

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ThSeeker Member Level  Thursday, 11/07/19 08:48:19 AM
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Volume Precedes Price

Good Morning,


This statement ("Volume Precedes Price") is one of the cardinal beliefs held by most technicians. It first came into view via Joe Granville's 1976 book New Strategy of Daily Stock Market Timing for Maximum Profit, where he wrote “stocks do not rise in price unless demand exceeds supply. Demand is measured in volume and thus volume must precede price.”

The first is taking a step back and looking at the bigger picture in Canada Cobalt Works (CCW/CCWOF) over the past 4 years. This is an incredible image to me! CCW was trading at a penny in late 2015 and has rocked as high as .90 in 2018. Now that clearly the stock has based on the far right, and IS CURRENTLY BREAKING UPWARD, where do you think it's going? Where does it look like it's going?

Clear patterns work until they don't, but this one is not over. It's part of the reason why I'm PLOWING into CCW at this time and featuring it. The fundamentals behind the scenes could absolutely substantiate what looks like is coming next, a violent and monstrous move to new highs....again! If you draw a straight line upward to the right at the tops touched in early 2017 (30 cents) and twice in 2018 (55 then 90 cents) it will lead us to somewhere in the $2-$3 per share area in like 6-9 months! That would be a gargantuan return in a short period and it has happened for us before here at GIL.

Because this recent basing period has been extended, the pendulum is set to swing even further to the upside than the past 3 explosions to new highs. Stocks have "personalities". Some are boring, some act like they're on acid, and some are straight up volatile. CCW, when it runs, IT RUNS! What we can't see on this week old chart is yesterday's volume of almost 4 million shares traded, which is a massive day of accumulation. As we've seen with this stock before (note the big volume spikes early in previous moves) and in the next company I'm highlighting, volume precedes price!

Gold Investment Letter

Eric Muschinski
Gold Investment Letter

It is easy to figure out what you believe. The difficulty lies in determining - is what you believe the truth.
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