I alluded in a recent commentary to a mining stock that I’d recommended for immediate purchase by my 91-year-old mother (who, by the way, has always been a great stock-picker). The company I have in mind is Baja Mining Corp., and this is not the first time I’ve mentioned it. Back in March, when it was trading for 13 cents less than the current 1.31, I saw easy potential to 1.66 once it got above a Hidden Pivot midpoint at 1.31. This it did, but the stock has gone sideways since, presumably developing thrust for the push to at least 1.66. My renewed interest in Baja is not based on technical considerations, however, but on the phone call I received from the analyst who touted it to me originally. This is no hot tipster either; rather, he’s one of the most knowledgeable and thorough analysts I know, and I completely trust him when he says Baja offers great value. The company’s “story” remains as bullish as ever, says the source, and that’s why it appears in today’s list of touts. Incidentally, Pivoteers may notice that the tip of Monday’s spiky rally offers great camouflage relative to the May 10 peak at 134.50 that it surpassed. You can buy the cautiously if you wish, but officially the recommendation is to buy a thousand shares market-on-open. _______ UPDATE (5:21 p.m. EDT): We bought 1000 shares on the opening for 1.32. For now, do nothing further. Please be aware that if the stock breaches a midpoint support at 1.20, it could fall to as low as 1.14 in search of traction.
