RE:Line in the sand Yes, at the moment, your line in the sand has been broken. Gold was $1173 an hour ago. Who knows where it will open in the morning.
FWIW, KNT and lots of other gold companies are currently pulled back to late May levels. Unfortunately, if gold keeps sliding, it will be trading in the $1075 to $1160 range that we traded at in the first 6 weeks of 2016. For gold stocks that have pulled back to late May levels, this could imply another 25% to 40% further drop in share price. For KNT, we would be exploring new territory on the down side.
We might not have to deal with this situation though, as $1168 is a potential technical support level. If it holds, we might see a turn around in the KNT share price. If it doesn't hold, your guess is as good as mine as to where KNT will eventually bottom.
I was buying this morning. I'm a believer in the long term story for KNT and the price of gold. In the short term is where we may run into problems. Or as I like to think of them, into opportunities.
paparico wrote: is coming up, so beaware. The difference in making and losing money is "where to draw the line". If Gold breaks and holds under 1179-1180, we head down. No Elliot Wave can stop this and thats a fact. If KNT holds under $1.00 long enough, next stop .50 -sorry I have make money, but I have learned to know when to draw the "line in the sand" Those 12,500,000 shares that are now free trading as of Nov 21 is now at the conflicting point -should I hold or not This is a great company IMO, but the market is the market