PINL:VLTAF - Post by User
Comment by
ALLEN4on Jun 20, 2013 9:09am
131 Views
Post# 21546981
RE: RE: gold now below $1300.00
RE: RE: gold now below $1300.00 I was thinking the same thing. The short term trend is down so why buy today? First, I do seriously think that we might get a nice bounce if a sale comes through on Gaoua. I am not holding my breath but the process is in place and VTR is serious about selling it, so we could get news on that point any day now. The second reason to buy today and not wait is that it is going to be impossible to call the bottom in our share price; on a downward capitulation such as we are experiencing, the market always overshoots to the extreme. So I might buy today and the shares could continue down further; I will buy again if that happens. Even a modest return to 50 cents is a triple from here. So I will probably pick up some shares at some point today. Normally it would not be wise to announce that on the board, but the shareholders selling without much thinking and on good volume that it will not make a difference.