Diamonds can be just as irresistable as predictable chart patterns. So when you have a stock chart that relates to diamonds it’d got to be good, right? Well, we’ll let the chart of Global Diamond Exchange (Stock Symbol: GBDX) do the talking. This one got Quazimoto’s attention because it is holding steady even after huge intraday swings.
Here’s a little info from the website:
Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the ‘New York’s Diamond District’. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds. Global Diamond has served the needs of clients around the world by providing diamonds of exquisite quality and workmanship. Russian diamond cutters are considered the most skilled craftsman in the world. Global has recently expanded its exporting to include rough diamonds from Russia. Global has contracts with Russian cutters to cut and export these exquisite brilliants from Russia.
We provide website “blurbs” like this because some traders actual like to know what they are trading. To me, charts sell the stock. Quazi agrees. A little more volume would have been nice but we will “watchlist” this one.
Cubic zirconia or the real thing? You decide.
