RE: RE: RE: No logical explanationThe Dow being off over a thousand points in the last week or so should be your logical explanation.
This is your turmoil caused by the debt ceiling fiasco. Looks like the US economy is going for a crap and many investors are going to sit on cash for a while.
Non farm payrolls will be released tomorrow and if they are less than expected it should be a circus.
Yamana Gold is trading down after coming off a record quarter for revenue, earnings and cashflow (released after close yesterday). IMG G K and ABX all taking a ride down.
For SMF it's simple. The buyers show when they have a reason to buy. Next Tuesday or Wednesday should be a good choice. If you want to sell today you will have to do it into a weak bid, just like yesterday.
Gold is up and oil is down which is perfect for SMF. No need to go to the equity markets or to the bankers so they just chug along at more than $1 million revenue per day. If you don't have to finance, there won't be a recession at SMF,
Management have plans and they have the money to execute. Still think it will be in the $12 range by end of Sept.
I am a buyer today.
Wes