This is Cardero Resource Corp (CDY), one of the mining stocks I featured in an earlier post over this past weekend. I tried to wait patiently for the right setup before buying and I think I got fairly close to it with a near ZERO line crossover and Trend Line break of the True Strength Index (TSI) indicator, as well a good shot at a Trend Line break of the Money Flow Index (MFI) indicator tomorrow.
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Besides the technical setup I will admit I am extremely impressed with the fundamental strength the company currently enjoys. CDY sells at 60% of Book Value, has more cash in its pockets than the capitalization of its stock and no debt.
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I have updated my TSI trading record to account for this purchase.
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Click on the chart to ENLARGE
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