geb - I started taking profits at $4.26US and closed out the position at $5.58US for a 75% gain (5 week hold). I am risking being out if more monster holes come in but that is a risk I am willing to take after having had the stuffing beaten out of me in 2008. Chartwise the stock looks like it needs to consolidate this move over the last two months. It is a huge move and could take some time to digest it. There is also a huge gap on the chart between 5.00 and 5.50. It may not get filled but I think the chances are good that the stock will trade down into that range.
I suspect there will not be any drill results released until after the PP closes. RSI is starting to settle down but is still in overbought territory. Any move of this magnitude, up or down, requires a huge amount of energy and it is almost impossible to sustain an energy level at that intensity over an extended period of time. Like I said, I could be wrong, but this is a business of probabilities, not certainties. I am definitely keeping Colossus on my radar and will see how things develop. Cheers!
tsl
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