GREY:QNMNF - Post by User
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20/20/12on May 10, 2012 6:14pm
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Post# 19896888
anomoly thx to the wolf
anomoly thx to the wolf
5/9/2012 6:33:43 PM | No Recommendation | 90 reads | Post #31044232
Today was such an anomoly as it was the first day in many months that we saw the Gold Miners rally on a day when Gold was negative by $16.00. TSX Gold Index finished up 5.37%. Not sure you can put alot of confirmation into this event but " it could " be flashing that a bottom is now in.. Some of the Junior Producers made strong moves only to give it all back by the end of the day. This could be all part of the bottoming process and is very normal for a trend changing event. Could it be the train is finally leaving the station or did the market just trap more fresh capital? If you bought Semafo at $4.91 only to watch it close at $4.69 I guess you would lean towards the trapped capital explanation. However if you bought ABX at $35.80 and watched it close at $37.65 you might lean towards the train is about to leave the station. This could continue for a couple of days but the day will arrive when a stock like Semanfo takes a run and holds it into the close and when that happens pay attention.. The producers will move first and the group with a proven resource will move right behnd them. GLTA.