RE:Prior Post Cleaned UpAgree with everything.
Short position end of November was 14.5 % that is massive for a stock like Klondex with properties in top tier jurisdictions.
Asanko has been crushed and its short position was around 4 %. Terrible company and property(s).
KLDX has been pushed down to an insane degree.
Any good news comes out there will be mega covering. All it takes is some covering and this thing rockets up.
JIN.
Highwave wrote: Looks like the market in KLDX might be changing today. I think there are a few longs like myself that agree that this price is really low given Huet's guidance has not changed and we are only a few days left until the quarter is finished.
There is an awfully large short position that might start paring back there positions given Yellen's final rate hike. Gold miners start ripping the past few years near the end of December. If this year is anything like the last 2 now is not a good time to be short. I think today's price action is some shorts already covering in advance of the FOMC meeting. Its a good time to bank profits for them. As the Gold price might rally once the deed is done.
The volume today is very strong in the first 2 hours of trading and the price action has been nothing but rising. If we kept this kind of volume all day as in the first 2 hours we will break 2 million shares before the heavy manipulation volume shows up in the last 15 minutes of trading day.
I think the algos are smart enough to recognize a reversal in the stock price and not pound the stock at the close but we shall see. It is true that this stock could be a takeover candidate given the price but I personally would not want them to sell. Great companires who dont manage their earnings generally will post lumpy numbers in an upward trajectory. If True North delivers in Q4 watch out.
Tailwinds for Q1:
Been looking at many charts over the weekend on Twitter and I think this one says it best.
https://twitter.com/NassarInvesting/status/940058512910049280
USD's future technically looks bad:
https://twitter.com/NassarInvesting/status/939660755686879233
Gold stock Q1 price action the last 4 years:
https://twitter.com/GoldTrendsNet/status/939321243605524481
Tailwinds for Q1:
High probability of rising Gold price
Reserve growth at Fire Creek and Hollister (Hatter Graben)
Likey will hit their guidance range mined and sold.
Overall GDX and GDXJ has tended to rocket the last 4 years over he first couple of months.