Continental Gold Limited New CGOOF

When everyone's crying...

[Masterbuilder]

If you have been following my posts, I have repeatedly suggested that you can trade CNL for 20%-30% gains, time after time, due to volatility. I reminded readers in my previous post that the last time this stock fell to around @$2.54 there was good support and the traders grabbed all the shares and bid them up to $3.00+ real quick. This just happened again, and there was also an CNL insider buy around $2.46. What to do from here? My guess is more of the same. Trade the volatility. The news of a permit approval in Q2 never happened and the company should, by P.R. best practices, provide a public update on a missed promise. Shame shame. In a previous post(s) I highlighted that there is an October election in Colombia that could stall things, so that may be the root cause. Today is another bad day for the markets and gold contracts are not spiking so I will stand by my view that the longer trend is down despite this blip up. Before signing off.... I AM POUNDING THE TABLE HERE about historical 7 year cyclical market crashes. We had a little glimpse of ugly downside recently and it feels like people are selling the relief rallies. The contrarian side is that the American retail crowd is bailing from the markets in droves, and usually they buy high and sell low. So, maybe we just saw a sharp correction in a bull market???. My theme these days is "When everyone's crying.... I am buying". I think that is the best way to play it right now.