Fortune Favors the Brave - Virgil
- I've been a shareholder since 1999.
- 90% of my long term portfolio is in this basket.
- I've paid as much as $1.43 and as little as .10 to build my position.
- Santa Fe Gold Raises $10 Million in Registered Direct Offering
Business Wire(Fri 9:30am)
Hecla Announces $21 Million Equity Transaction
The securities in the sale include approximately 10.24 million shares of Hecla’s common stock, priced at $2.05 per share, along with Series 1 warrants to purchase up to approximately 7.68 million shares of Hecla common stock at an exercise price of $2.45 per share, expiring in five years; and Series 2 warrants to purchase up to 7.68 million shares of Hecla common stock at an exercise price of $2.35 per share, expiring on February 28, 2009.
Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the offering.
(ps. If I didn't believe Pierce needed the money today for a very good reason, I'd be as pissed as a drunken sailor)
On a weekly chart we readily find 3 points of support and potential support. It is quite possible that support was found On Friday at $1.16. That price represented the 50 Period SMA and dual Fib confluence and is exhibited on the chart as A. If that support is to hold we should see price move higher Tuesday after any resting market orders to sell are filled on the open.
Should $1.16 be violated have a look at B. There we find the 200 Period SMA, the bottom of the price channel and another Fib confluence. Due to the time decay factor we are looking at a price somewhere between .92 and $1.00.
Finally we have C which is dual Fib confluence between .80 and .82 and would represent a 50% retracement from recent highs.
Because of the fundamental nature of what has, and is yet to transpire, it will be quite interesting to see how well technical analysis serves us in the short term. While these price levels are not predictions, should we see a break of $1.16, resting buy orders could be placed at or near the above mentioned prices for investors seeking entry.