Continental Gold Limited New CGOOF

Predictions bang on. Sit and wait.

[Masterbuilder]

If you have been following my posts, I have been harping on one theme which is that gold prices are going lower and that CNL is a speculative investment with volatility that will reward good traders. You absolutely must pay attention to the facts and not sit starry eyed, dreaming of getting rich quick. I too hope that CNL becomes something other than a work camp some day. "Some day" is the key message here. The permit is a necessity to move forward, I got that. But is it really the "investment worthy activity" that pushes the stock to double in price? I don't think so. It is just one milestone, as is raising $500M (which will dilute the stock). IF IF IF gold was to double in price... now that would kick up the stock for real. As would a firm offer from a senior producer, but that is speculating!!!!!  Once again... Goldman Saks says gold will average $1089 for 2016, and street ramblings are now suggesting a test of $980 or eben $900 is in the cards. The CNL 50 day MA is $2.75 which is a strong possibility. If that cracks, it could just keep dropping. Mark my words... gold will eventually bottom and will need to build a base. I would only consider stepping in after, a) there was price capitulation in the price down to $900-$980, b) that gold bounced off that first bottom level  and then retested it for a double bottom, c) if gold went sideways down there for a while to build a base, d) huge volume came back into the GLD and the gold price spikes back up above $1,000.  Trade smart. Be patient. Oppotunity is ahead, just sit and wait for it.