Post by
javaman12 on Jun 25, 2023 11:31am
One Additional Footnote To My Last Analysis...
Many people feel that the market looks ahead by at least six months. Some may feel that fear is the best motivator to trade after greed. Some say sell in May and go away.
So when should someone take the plunge and just say, it's now time, to buy back in?
Look around you at the commodity mining space. Has not most of the selling carnage, already taken place?
Perhaps some of the base metal miners will continue to lanquish from a price point of view, for a few more, months to come. But many miners now represent an incredible value from a bottoms up, price point of view.
Like many of the gold miners, base metal miners have already done much of their correction that may have been anticipated by the market.
But gold stocks usually recover at first!
It is my belief that the market is beginning to suspect that in six months from now, gold company shares will already have, recovered by a lot!
But then, for those who have delayed their investment out of fear, much of their opportunity for their best short term gains, will have been lost!
So one must also learn to appreciate about the fear of losing out! That sentiment is also, a profound market driver!
Certainly, everyone understands that the best time to buy is when most of the selling has finished.
But the market doesn't always turn on a dime. It is the same with gold stocks.
Fear of losing capital is creating the present uncertainty for those already invested in IMG or for those who may be considering whether now is the best time to enter the fold.
It is not so much about the longer term value of this company as an investment. The trend in gold has been moving higher. And though short term corrections in the metal are to be expected, price inflation and government spending will not be easily abated.
Price corrections, don't last forever!
As well, recessions are not always longer lasting!
IMG's share price is at a tipping point where the buyers and the sellers are in some kind of price point equillibrium. But the short term trend in the gold mining sector is now flashing green, once again!
Other gold miners are indicating an earlier recovery (TXG, EQX). And as often seems to be the case, IGM follows that trend since their shareholders, seem to be, just a little timid!
But it hardly matters for the buyers. It's the sellers with the most to lose!
Losers should wake up! The gold price is still above $1900 US. That's a pretty good number!
And IMG will be the first intermediate sized gold miner with a new mine coming on stream, in next few months! And this mine will be a big one, profitable and longer lasting!
Sell in May and go away? Well people, the month of May is over!
June is almost past and the month of July is just around the corner!
How long do you intend to wait?
If you delay, others will get the jump on you!
All the best, Java
The first