Hi Everyone,
Even though GOFF slightly closed in the red today, this was by far THE best day the stock has ever had. We are more convinced then ever that GOFF is building up steam for a rally of epic proportion and will become the best pick we've ever profiled in our history. So how does that make sense on a red day? Let us explain our reasoning...
Today was one of the best day for GOFF because shares were heavily accumulated by smart investors and institutional buyers. We even saw buyers scooping up over 3M. shares at a time when GOFF retraced in the low 40s. One thing we've learned in the past is when there is buying pressure from smart money, it is almost a sure sign that a bullish rally is in the work. Today's buying could indicate that GOFF is ready to jump 3-4x very soon.
A recent analyst from SeekingAlpha was quoted saying: " Goff Corp. is one of the newer companies on the market and is picking up analyst coverage as well as institutional buyers with its stock rewarding investors quite handsomely so far."
We've also caught a comment from a Hedge Fund Manager who said the following about GOFF:
"I am the manager of a neutral buy-short hedge fund and have been looking for junior gold miners to invest it, and one of them was GOFF. Nice to see the coming being noticed."
Clearly, GOFF is getting notice on Wall Street by potential institutional firms and hedge funds looking to buy millions of shares in the company.
This type of heavy buying and interest will surely pave the way for GOFF to jump quickly back to recent high and move to $2-$4 as speculated by reports.
GOFF is getting even more coverage from financial analysts. Today we came across 2 more articles that analyze the company and portrayed a bullish view on the La Frontera property. We expect that GOFF will get even more coverage in the near term which could attract more institutional buyers.
Article 1: seekingalpha.com/article/...-your-portfolio?source=google_news
Article 2: beta.fool.com/jdhutche/2013/04/02/...ect-development-on/28843/
Do you believe in short covering? Because we do!
If you were watching the market today, you might have noticed that the last few minutes of trading GOFF saw its share jump almost 10% from 44 cents to 48 cents. We believe this to be a tiny glimpse of a massive short covering in the work. There is no doubt in our mind that short-sellers have been digging a position that is about to backfire on them. We believe that over 20 million shares in potential short selling have been accounted for based on this report and the action we saw today:
otcshortreport.com/index.php?index=goff&action=view
What do you think will happen when market makers that were short have to buyback (potentially 20m+ shares) on the offer? Shares could drastically skyrocket and see GOFF trading at over $2 in a heartbeat in our opinion.
Short attempted yet again to break the support level in the low 40s but failed miserably. The short covering that we are all expecting is about to start in a very agressive way. We are convinced that some short-sellers will get squeezed out as early as tomorrow!
Fellow members, the bottom was reached on GOFF today, get ready for massive upside because it will be a fast and furious rise to over $2 in our opinion!
Your PennyStocks.com Editor