Not a lot of time for explication on this one, as I’ve got a lax game to get to. I’ve owned IAG (NYSE) (PPT: Buy) on and off, and have had a small amount since the $HUI started looking good again, back in March. I went back in and got some more today on this consolidation breakout, at around $9.25. I will probably will wait for a test of that zone to get any more.
In any case, I’m officially putting this one in the Jacksonian Core, as I believe it’s “all grown up” now, and ready for long term hold. I think you can see from my notes on the daily and weekly, why I think it’s an emerging power. I like stocks that break out from long consolidations, especially when the market favours (sic) their sector.
And the Weekly:
Important: Special thanks to Cap and his Joisey Harem for posing for today’s illustration. Best to all.
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