Taseko Pulls Back to Support (TGB)

Oct.20.05 | About: Taseko Mines (TGB)

The Microcap Speculator submits: When I profiled Taseko (ticker: TGB) on October 5, the technical position was less than ideal. It had recently broke out and was somewhat extended. TGB has since returned near support, so I added to my position today at .93.

Taseko is a copper miner, and should benefit from the continued rise in copper. Copper hit a new 52-wk. high on the Comex earlier today before retreating for a slight loss. Copper prices are supported by alarmingly low supplies held in stock at the London Metal Exchange and the Comex.

DISCLOSURE: I am long TGB. Not a recommendation to buy or sell any security. For informational and educational purposes only.

TGB 1-Yr Chart