Elray Resources Inc (ELRA)

[starboard]

Actually, this ran up last December with the announcement of the DOJ Gambling ruling. It pulled back a bit, but stayed close to a penny for a while, as the company was communicating regularly and there seemed to be some momentum. Then, when the Macau deal was not finalized, many folks bailed and the share price started to decline.

Last week was the first real volume we have seen in a while. It would be a great time for ELRA to provide an update and some tangible news. I know many here are still waiting on the investor conference call.

That being said, I agree with modrica about the Macau deal. It was not a part of the core biz plan that drove this stock up last year. While it seemed to be a big deal, it does not seem to change ELRA's fundamental plan to develop online gaming and trading platforms. However, confirmation from the company would be a nice affirmation of this.

Just my opinion.