“Tanzanian Royalty Exploration buyback alert Volume pattern is typical of a bull Flag / Pennant, so the half position that we sold at the top at about $0.63 (C$0.84) should now be bought back ASAP - prices now at about $0.546, C$0.74. Brief update with chart later.”
Here is the 3-month chart for the time when the alert was sent out at just after 3.00 EST…
And he is the chart for the close of trading yesterday, showing that it ended the day with a 14.2% gain…
And it would appear that it was your buying that caused almost all of yesterday’s gain during the last hour of trading, as is clear from the following 1-day intraday chart, which shows all price and volume action in detail during the day…
While many of you got this message in time, as evidenced by the action of the past hour, I was dismayed to learn that some of you didn’t, as a result of using gmail. The point has been raised before that gmail is simply hopeless for our purposes and should be abandoned in favor of a service that undertakes to route mails through in a timely manner. With respect to this I received the following insightful mail from a subscriber (many thanks Mac)…
Because I now have two email accounts, GMAIL and YAHOO, we can compare the efficiency.
This message was received by my Yahoo account at 3:01 pm EST in a timely fashion to make the trade.
This message came in on GMAIL at 7:53 pm EST, after markets close
RECOMMENDATION
You might want to consider opening a Yahoo Mail account and recommend it to your subscribers, or at least pick one or two of them to add the Yahoo acct and then compare to see if they got the same results that I did. Notify them and then send them the two emails and ask what time they received them.
So there you have it – the solution to this problem has been set out.
Finally it is important to note that although yesterday’s action was certainly bullish, it does not necessarily mean that Tanzanian Royalty is starting its next run now – the Flag may not yet be complete and it may zigzag around within it for a while longer yet before the next upleg starts, in which case we might need to adjust its upper boundary slightly. That said there is a fair chance that yesterday's move does indeed mark the start of the next upleg.
Tanzanian Royalty website
Tanzanian Royalty Exploration Corporation, TRX, TNX.TSX, closed at $0.61, C$0.80 on 8th February 19.
Posted at 3.05 pm EST on 8th February 19, version updated with charts and additional commentary posted at 1.45 pm EST on 9th February 19.