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drbubb

McEwen Mining (MUX) : 135,000 /yr. Gold miner

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Has the Short-covering started?  MUX is starting to behave better

MUX: $1.99 + $0.07, +2.65% on 2.7Million shares, on a day when GDXJ was - 2.01%

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Ratio: MUX -to-GDXJ

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Bottomed at 5.33%. Could it run up to 7.5% or so... maybe higher.

If GDXJ stays at $33.72, then that would be: $2.52.

MUX may need some good news to get there.

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The weak hands are shook out - seems to confirm a move back into 2.2. From there could get stuck unless gold surges again.

Also how is the correlation with First Majestic AG?

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"how is the correlation with First Majestic AG?

Recently, STILL GOOD = chart

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MUX is not getting the Good News it needs, and the stock is back to $1,65

Bad News instead...

McEwen Mining Suspends Quarterly Dividend; Operating Issues Result in Lower Revenue

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I sold a part of my position at over $2.00

Should have cleared the whole thing

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