RE: Turd Ferguson and Harvey OrganI wonder if this has any connection...
https://www.zerohedge.com/article/meet-man-behind-liquidating-hedge-fund-blew-gold-market
Been a pretty tough few weeks... there has been three mini corrections... It won't make anybody feel any better, but for EVG... we sit on hardrock support from a technical point of view..
I have a watch list of the gold stocks that Lex Corp put together into a fund, and what a diaster... so this isn't the only one... Lex is pretty much in tune with the deserving gold stocks to be watched... aka on the circuit, and they all took the same path EVG did...
The (more so) Venture and then second up TSX were both a whisper from a major break in the trend line.... It could have been wild, and the fact that both are in nosebleed territory is being made known by a lot of bears... still the price of gold will go higher by the call of the other half... the American dollar is weak, but demand for the dollar will swing gold back and forth until the petrodollar fails completely. Indicators that suggest trend strength are heavily diverged to the downside in both the exchanges... it will be a relief to see them make a move up in some fashion signalling a temporary end to the market pressure... go Away in may if we get there has special meaning...
We pulled away from disaster a bit this Friday... I think next week the broad market will be a story missed by many... specially if we make a run to the upside over the next month...
Some statistics suggest that in a broad market upswing almost 90% of all the stocks in the favored sector will move bullishly making it a party for dart throwing chimps that can be as good as any guru in picking winners...
It works the same in reverse... 10 % or less will buck the trend. Gold and Silver will still be the place to play along with rare earths and agriculture and uranium... IMOPinionated research though.... selectivity and TA will point the way.
I saw a post a bit back that was "EVG downgraded to sell" from some poster that has an account on the bullboards at zerohedge, and he posted some gibberish it appears... did a search of the site and nothing. Then looked for Merit securities and even with google.. it was a company headquartered in Greece... and it wouldn't translate with Bing... maybe I missed something...
AT any rate... what with the shake up, it is hard to say what will transpire short term... for me it is a wait and watch.
GLTA
GLTA