GREY:PTQMF - Post by User
Comment by
goldpigon May 24, 2011 6:56am
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Post# 18616262
RE: pmc and random thoughts
RE: pmc and random thoughtsThats a very good summary of recent trading activity.
Two other factors also contributed.
Commodity markets were due for a correction after a long run-up and gold got sideswiped.
Also, Goldman advised its investors to sell their Canadian commodity stocks in March.
Undoubtedly, they shorted those at the same time.
In any event, it looks like the correction in the POG is over and gold is once again rising to new highs.
We all know that there is a lot of expansionary development activity going on at Molejon, as well as exploration work in several regions.
Drilling plans for Iberia and mine development for Banjas are also due for release.
Such news should give the stock a much needed boost.