Small Cap Highlights
Samex Mining Corp. (USA) (OTCBB: SMXMF.OB)
For
Monday, November 26^th, 2007

Tony Golan
Chief Technical Analyst
StockProfit.com™

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This week I chose to highlight the chart of Samex Mining Corp. (OTCBB: SMXMF). For much of the past year, SMXMF was in a long-term sideways trend, swinging above and below the 200-day moving average, but not sustaining a clear trend in either direction for very long. However, all that changed in mid-October, when SMXMF hit a low of 0.68 just below the 200-day moving average, then turned up and started trending up sharply and consistently, hitting a high of 1.64 about three weeks later.

The move from 0.68 to 1.64 was, of course, bigger in magnitude than any of the moves in the past year, and the stock is well above any of the highs of the past year. This indicates that there is a strong move underway that is more likely to continue higher than to reverse back down.

Now, just because it is more likely to continue higher at this point than not, doesn't mean it's going to. SMXMF has just undergone a mild correction against the up-trend, and has held up very well, especially considering the weakness everywhere else. If SMXMF now closes below 1.10, it will indicate the back of the up-trend has been broken, that the stock is going back down, probably to the 200-day moving average, and it would be a sell signal, invalidating the up-trend.

Tony Golan
Chief Technical Analyst

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