Tuesday, July 28, 2009

Canadian Stock Alerts - July 28, 2009

Canadian Stock Alerts Update:

BEAR LAKE GOLD LTD - BLG.V @ .24 on 3.2 million shares traded

This is similar to BIO MS MEDICAL (MS.TO), mentioned this morning. Similiar in that a negative news release created a huge pullback in the share price to the tune of a 66% decline. BLG reported a few days ago that they were finding inconsistencies in their recent assay data. The stock was halted for a few days and opened today down 66%. It was trading recently in the .70's

It's highly risky of course, just like MS was this morning. Anyone who bought my MS.TO alert at .32 did quite well .. it's now .41 and did hit .46 . So will BLG get back to .70 tomorrow, probably not. They will likely drift higher in the days & weeks ahead, remember from here a 20% gain is still only .29 .. so the upside can be large but this is clearly a risky play after the recent news.

You have to know your own tolerance for these kinds of plays. The reward can be great, but not without the risk. Was BLG oversold like MS .. maybe, time will tell.


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