PINL:VLTAF - Post by User
Comment by
VentureTrader1on Jun 25, 2013 2:23pm
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Post# 21571733
RE:Relentless selling NB
RE:Relentless selling NBNo, they just recognize that the company is dead and are trying to salvage what they can before it's too late. It's nothing personal, although it always feels like it. You'll notice that across the sector, whereas 18 months ago people talked about how crazy the selling was, and then 6 - 8 months ago, people made up justifications for why the sector was getting sold, now nobody even talks about the WHY, it's just an accepted fact of market life, its like nobody talks about WHY the sun comes up, or WHY it's cold in winter. It just is.
It occurred to me that instead of the snapback rally that most are now desperately hoping for (me included) this could just be the death of the industry - eg we could be doing the equivalent of the DOW's decline from 1929 to 1932. First, the collapse was more or less complete (Eg GDX at 23 right now means theres still $22 worth of selling out there - think VTR @.02. And second, there was no 'snapback' rebound. The DOW didn't really recover for 20 years. VTR, and almost every other miner won't be around for another year, let alone 20. Sad and incomprehensible, but true. I guess the bankers that dominate the gold industry really are that powerful and that ruthless.