Checking in on a Runner

In Speculation Case Study: Chasing a Mining Discovery Breakout I briefly discussed the simple strategy of chasing a breakout story. Very simply, the market doesn't price in the good news right away. Short-term there can be a decent upside in a bull market. Long-term, you're hoping for a "the hits keep on coming" situation that turns into a multi-bagger.

The stock I chased at the end of May was Northstar Gold (NSG) on the TSVX and NSGCF on the OTCBB. They had a "stellar" hole going by Durrent's shorthand drill ranking that I posted on The Hits Keep on Coming.

Drill results will decide if this becomes a bigger breakout or it experiences conslidation. The spike today tells me speculators are betting on good results coming (bad for the stock if it doesn't happen) or somebody knows something...