Prediction tomorrow.This is the same scenario playing out yet again.
Stock price is built up, news is released, stock price takes a dump. I must admit I was not expecting a 50% drop, as I interpreted the news as being GOOD for SGX, but a drop was certainly in the cards. These results confirmed the ridiculous lengths the "high grade" strike continues on for, not metres, KM'S!! And if the vein trends onto SGX property then does this not re-emphasize the possibility of SGX's property also containing gold? Someone else mentioned the low cost of mining surface mineralization, low cost = higher margin of $profit$. Seems like a no-brainer to me, but what am I missing out on? Oh yeah, market manipulation.
As for these people who spew filth about the assays being too narrow.... ITS A VEIN!!! VVEEEEINNNN!!!! VVVEEINNNN!!!! OK I've had too much coffee, but, VVVEEINNNNNN!!!! Ok sorry had to rant. I did not think the actual grade was amazing as I thought it would be after sorting through all of KXL's PR info (propaganda?), I guess the PR department did a bang up job!
Tomorrow, and next few days following, will be a day trader's dream. SGX's upcoming assays will not matter in the upcoming short-term volatility. Traders will push this one up into the 60 cent range tomorrow, and then into the low 70's on Wednesday, and then they will beat this sucker right back down into the 50's. Between 50 - 70 cents we will go with the difference between the high's and low's narrowing until any news is released.
I must also admit I did not expect the news to be out today if it wasn't out before the bell, I suppose I should've made a phone call. Because of this, I got caught with my pants down a bit but was lucky to be out of 3 out of 4 area plays at the time - only by fluke really, I am an active trader.
I entirely missed the bottom when I bought back after the drop as well, bought back at 61 cents, then 54, then 51, only to see it supported at 40cents. I think there is a still a load in my pants as I am overweight in this stock at a 56 cent average and I am down a chunk of change.
OMG some fool on BNN is pushing GOLD as his "DOG"... Ya see how much garbage being spread around out there folks?
Also, I must add that I DO NOT own KXL... I am riding SGX because I truly believe these two properties are one and the same and of course SGX will provide more leverage and that's the kind of player I am.
I guess in conclusion I remain bullish on this stock, but I am certainly going to ride the peaks and dips, like any other trader. This stock is headed up tomorrow, and although I cannot guarantee anything, I will surely eat crow if I am wrong.
GLTA.