Little reading on CAJ and CANHave you ever been to Kitco and looked at the news output each day? The ones right at the top of the page in the box labeled Latest Gold News. Those news feed are from Marketwatch and Reuters. I have come to conclusion that they must have robots, some kind of software or monkeys writing the headlines. Every day it's the same. Gold weak on dollar strength. Gold strong on weak dollar. Gold down on before fed meeting. Market mixed, gold steady. Then repeat.
What happened to Canaco ResourcesCAN today? News came out and the stock got tossed. Lost over 20% today on almost 10 million shares. From what I read the news wasn't all that bad. I think to many people just read the headlines and not the actual news. 41 meters of 3.32 grams au /ton verses the last news release of 59 meters of 4.28 grams au /ton. People don't seem to look at the big picture anymore or else they are just plain clueless. It seems nowadays that ALL news is to be interpreted like some blue chip stocks earnings. You know the type where nalysts are expecting this or that and all of a sudden this or that doesn't happen so we better dump out. Oh well, good news for those who are positive on the play. I think the next few days or so may reveal a good time to be bottom fishing for a bargain.
I was noticing yesterday that CanasiaCAJ was active and trading higher and was expecting news. Sure enough they too put out news that kicked the crap out the last news release and ________ you guessed it. Sold off like mad. Down over 20% on the day. What is stranger still is their news was better than the last. What I can't figure out is why anyone would not be interested in a few shares of this. From their news release today, hole 28 that returned grades of 12.8 meters (42 feet) of 44.75 grams per tonne (g/t) (1.305 ounce per ton) gold values including 4.87 meters (16 feet) of 76.8 g/t (2.24 ounces per ton). All I can say is some people have a really skewed perception of reality.