Petaquilla Minerals Ltd PTQMF

Reason for pause

[Libertyg]

Although PTQ is holding support in the low .60's, we may need to allow market action to tip it's hand. If PTQ were to break .60 then i would wait to see how far it went if it coincides with negative action in gold and equities. Gold broke much further than i thought it could if it was in a consolidation phase. Silver exploded through downside support. Moves like that can be a final shake out, or a harbinger of things to come. Problem is which is it? The US equities has been holding it's downside support as well, but if that was to give way it could lead to larger sell offs. Europe should be watched closely. This could be a great buying opportunity, but there is a real danger we shouldn't ignore of something bigger in the making. In the .70's gold bull, gold gave up 50% of it's gains before heading to it's 850.00 high.Normally very few if any will warn of this unless they have been a bear since day 1 and they wouldn't be credible. But, gold bulls rarely will acknowledge a potential severe correction until it's way to late, then explain it as inevitable later, again way to late to help anyone. Being very conservative i did trim into about 40% cash and took profits just in case. As they say i'd rather be a live chicken than a dead duck. For my comfort gold needs to recapture and hold the 1740.00 for a few days, and silver well silver has a ways to go to as it sold off way to hard as silver tends to do. The key is the dollar and equities. A breakdown in equities could be what drives down the juniors along with the metals if so then it's wait and see time. The dollar broke out to the upside but now we see if it's short lived or not.