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Message: A Lesson from Richard Russell

A Lesson from Richard Russell

posted on May 02, 2008 03:19PM
Something significant happened today. Kimber opened at 1.44 and traded at 1.44 until the very end of the day. A very tight trading range. Actually, no trading range. Then it "shot up" to 1.45 at the very end. When was the last time you saw a day like that for Kimber? The answer is: never. So what? So this...As the great Richard Russell would say, "It's always significant when the market starts to act differently." Great truths operate equally well on any scale, i.e. what happens for the entire Dow Jones Averages also happens for tiny little Kimber. And talking about acting differently, this is very differently, and I love it. You know what else I love on the front page of the Wall Street Journal today appear the words, "the amazing gold boom could be over." Read the write up: "Market Recovery Hits Gold Bugs." That's funny, I was thinking, "Creamy Filling," I wonder where I got that idea? Hardly any volume today for ol' KBX. That was surprising. I thought for sure we'd see some people come in at the end of the week and grab a few shares. And some shares did change hands, albeit a paltry amount. Maybe there are all those buyers waiting for the price to dip down around 1.40, 1.38 again, which it may very well do, but then again, it just may not. What a great game this is! Why would anyone watch American Idol with this type of action going on? Did anyone read the post by diggy. This guy moves refrigerators to make extra money so he can buy Kimber. How could anyone not love that guy? Have a great weekend. Bull
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