Sutter Gold Mining had a significant day today. The price spiked up as high as 50 cents per share at one point and finished over 40 cents for around a 30% gain. The volume might have been the highest in history (or close to it). Hopefully, the volume can remain strong. Expect some consolidation...maybe around the 50 cent area before a continues move higher. However, it is very possible for this stock to continue the momentum upwards or sell off to support levels. First support appears to be 30 cents.
Volatility is very high with this one. Today the price went from 30 cents to 50, back down to 33 or so, then back up to 40 cents. If you're in, be prepared for some big swings. Plus, the bid/ask spread is often pretty wide. I'm prepared to sit on this stock for a while....hopefully, with a profit in the end.
We had about a week of rain last week. Not sure how that will impact the company's progress.
Anyhow, hope everyone is doing well with their investments. I'm not seeing as many good stock setups out there....stay patient and protect your capital.
~JP
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