Thompson Creek Metals (TCM.TO) Buy, Sell or…

Thompson Creek Metals (TCM.TO)

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WATCH

With the sudden move in rates, market being over extended and a lot of interest in commodities, this stock needs a break. Before you Buy, see if it can break through its current price.

BUY

Great demand for molybdenum, particularly in the new world growth we are getting. Took quite a hammering not long ago. Did a very good takeover.

COMMENT

Has support around $12 but there is overhead resistance that may be tough to punch through. If it breaks through that, that would be positive. Middle of the pack on relative strength. Has been good accumulation since last summer. If it breaks down below $12, it will probably go to $11.

PAST TOP PICK

(Top Pick Nov 10/09, Down 2.56%) Great week last week, got approval on new mine. Nice possibility of upside.

DON'T BUY

An example of a stock he would avoid. Has resistance at $12.90. Wait until it breaks above $14.

BUY

Chart shows lower highs so the downward slant indicates where the resistance point would be, around $12-$13.50, which is a pretty big move. It is just getting above the 125-day moving average. RSI is not indicating an over bought situation.

BUY

Has been an under performer this year because of production and the negative view on molybdenum. Recently made an acquisition that gets them into precious metals. Should be in the $14-$15 range in 12 months.

PAST TOP PICK

(A Top Pick Nov 10/09. Down 22.98%.) Can't believe how poorly this company has done. Great buying opportunity.

HOLD

This should move from around the end of Nov through to May of each year but this one has not been following the trend of other base metal securities. Technicals are not looking that good and it looks like it is ready to break its support level.

BUY

Showing signs of life. Molybdenum side is tricky but is something you have to get in at some point.

TOP PICK

Molybdenum. With pipelines breaking and oil wells exploding, companies will be pressed to go to higher quality steal and that means molybdenum. It’s a bit on the risky side for him, but it has come down so much.

WAIT

Great company and product. Well set. And considering all the pipelines they are starting to set. The worst month for metals is September. Has been trading sideways for a while. Would wait until October, May pull back down with the rest of the metals.

WAIT

Great company and product. Well set. Worst month for metals is September. Trading sideways here. It may go back up a little bit, but he would wait until October or later.

BUY

Molybdenum. Likes this one and is getting into range where he is considering buying. Profile is good for considerable earnings expansion. $.38 last year, which could go up to $1 in the next couple of years if molybdenum market holds in. Recent acquisition was good.

COMMENT

Stock went down when they acquired the copper play Terrane Metals. If they had not bought this, it would've been a takeover target for the molybdenum assets but now it will have to prove itself.

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Thompson Creek Metals (TCM.TO)