Metanor Resources MEAOD

Carnage...

[mstettler]

In the precious metal shares.  I've been running tight stops and have been stopped out of all positions but FPC.

Good news for you MTO fans - you have been immune to the selling pressure today.

[LiTeOn1981]

This post has been removed in accordance with Community Policy

[mstettler]

Looks like I spoke too soon.  Closed at .08 -11.11% in the last hour of trade.

[fruitvale3067]

mstettler, not to mention that gold is now less than $1700 Canadian. Tomorrow should be interesting with Yellens comments from Jackson Hole. Does the slide continue or do we get a reversal. Unfortunately, the last thing MTO needs is the price of gold to start dropping. 

[mstettler]

The GDX was down 7% today which is extreme relative to gold losing 18 bucks or so.  I think there is some nervousness ahead of the fed comments tomorrow.  The market has been ripe for a correction so we will find out if there is another wave of selling post fed.  If this takes place then we could see a proper correction in the miners.   Keep in mind that we are in the

[fruitvale3067]

Mstettler, I got stopped out of Taho two days ago, the others not yet but getting close.

[tsoprano1]

Larry Edelson has been predicting a correction to about 1250-1275. I have been hoping against it but he says if it doesn't happen we will be in for a bigger correction down the line. So might as well get it over with. Wouldn't mind picking up a few more shares of the good ones. T

[mstettler]

He is correct.  The longer we go without a proper correction the more extreme it will be when it comes.  We got a taste of that yesterday.  In a historical context (and the current bull is now #1 in the record books) we would be looking at a 30-50% correction in the mining shares. We will see how the market reacts post-fed.  There was a good bounce early today but it's

[Watchitgo]

Gold is still above $1700 Cdn (the low today was around $1709 Cdn this evening via Kitco).  That could change in the blink of an eye, of course.  I think $1275 USD a very real probability in the short term.  I agree with tsoprano that it's better to just get it over with to clear the way for longer term sustainable gains in gold.  It will be interesting to see how MTO

[pdcon1]

8 cents  looks like were close to a takeover

[Miner81]

That is what I'm thinking, or maybe some better news. It will be alow ball if it is an offer.