Go for the gold on this silver stock — Coeur Mining (CDE) (June 17, 2015)
I want to look at Coeur d’Alene Mining ( NYSE:CDE ) here; now they just call it Coeur, I don’t know what happened to d’Alene but it used to be on there so it’s still on there for me. Anyway listen, I am not looking at a few different things here. One thing I’m not looking at is this trendline here, that doesn’t interest me. Another thing I’m not looking at is this little inverse head and shoulder pattern with the neckline being there; that doesn’t interest me.
Frankly the reason it doesn’t interest me, well it was very interesting back here, it’s no longer interesting because that move has already run it’s course, I don’t really care about that. What I care about is this, I care about this long squeeze, this prolonged squeeze, not only the squeeze but more importantly the high velocity pop. Now, I think this stock’s going higher, I think this really has some momentum.
But the reason that I am featuring this here is because I want to take the other side of some guys trade. And that guy, whoever that is, is somebody that “option MONSTER” in their free email sent out yesterday, it said that somebody sold the July 6th calls for 20 cents, like 14,100 of them or something; so over 14,000 calls for 20 cents. That was apparently a big bet; with the idea that this stock is not going to go up 26 cents between now and the end of July and their going to keep that 20 cents.
I would personally rather buy from that guy than trade along with them. I don’t think that’s smart money I just think that’s committed money. The deal is, this is a high volume, actually kind of a high velocity breakout too. You can see this thing in the morning rallied up, came back down, oh well that’s the end of that, look at the volume there, and then suddenly, Kaboom! This thing goes off.
My suggestion would is, and I’ll be honest with you, I’m not long this stock, I didn’t see it; I didn’t see it until I was doing the research for this “Strategy Session” and I wanted to put this out to everybody; I don’t care if you’re paying for it or not, because I’m going long this puppy first thing in the morning. I’m not going to buy the calls, the stock is less than $6.00; I’ll just buy a bunch of stocks. So if you want to trade along with me that’s great, I personally think we’re going to make some money.
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