GREY:GPLDF - Post by User
Comment by
KingWhatsion Jul 14, 2011 6:54am
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Post# 18829807
RE: RE: RE: whatsi
RE: RE: RE: whatsiSold @ $3.78. I'm not overly anxious to buy back in for a bit. The chart shows a ton of resistance around $3.75 and I expect yesterdays action increased the short interest considerably. Sprott coming out in support of Silver only confirms my thinking. GPR still has a lot of consolidating to do and will remain range bound at these levels. If it has a bad day, I'll pick up some for a quick gain otherwise there are much better prospects.
If $50 silver didn't help GPR's share price, why would $36 silver coupled with lower production and higher costs push it up?
Gold fever is back for now. I was out and in of AVR yesterday and lowered my avg cost considerably. They have nothing but blue sky ahead - as do several other gold miners. I see no reason for silver to be going to the moon anytime soon. When Sprott says something is going up it's because they are shorting, not buying.