I have recieved several requests for my take on SRSR in light of it's dramatic reversal in the past few days. For whatever it is worth, here it goes:
SRSR has fallen to about the price it was when I first mentioned the stock on July 1st. The catalyst for the recent volatility was the issuance of the National Instrument 43-101 Report calculating and analyzing certain company resources.
I have read enough of the report to confirm the story, turning this pick into the proverbial "story stock." As such, I typically loosen my TA rules in deference to stellar risk:reward parameters. In summary, the next 5-7 years should see a maturation of resource development activities generating a significant appreciation of market capitalization. Estimates within this time period range from 50c to $2.00. Buying SRSR under 10c with a 50% stop provides a reasonable approach to realization significant gains, 5-10X returns over the short-term and significantly higher returns longer term.
This kind of speculation is inherently full of risk and is not for everyone. My own basis in this stock is 2.8c so prices are a long, long way from my stop (which is now up at 5.6c for a little over a double if hit). In other words, don't base your analysis on what I do, unless your basis is close to mine.