Cline Mining – An Update

by JDH on January 6, 2007

As I reported earlier, Pinetree has made the following purchases of Cline Mining shares:

  • November 8 – 700,000 shares at 45 cents
  • December 20 – 307,500 shares at 29 cents
  • December 20 – 100,000 shares at 29.5 cents
  • December 21 – 100,000 shares at 35 cents
  • I had speculated that the significant volume at the end of December (see the red arrow on the chart below) was more Pinetree buying.  However, I just checked the SEDI insider trading reports, and Pinetree has not bought any Cline since December 21.  Therefore, I don’t know who was buying, but presumably it was not an insider (or they have not yet reported).

    The downtrend line was broken, so I will hold for now.  However, the MACD does not look good, so I’m keeping Cline on a short leash. If it doesn’t bounce back up soon, I will admit my mistake and start selling.  For now, I’m holding.



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