ExplanationI have been trading for 40 years. I'm talking 40-50 trades a year minimum. I am not afraid to short a company particularly if I believe the CEO is a carnival huckster or liar. I also don't care for bullies. I believe in free speech. I believe miningman has every right to his opinion just like bossu or any other poster. I have never been short PVG or held puts- because I believe gold is real money and fiat is a**wipe. I once held 15k shares- the majority of that is gone. I still hold a somewhat sizable position but I am spread thru several miners now.
I grew up in a mining town where the pump and dump scheme was commonplace. They even manufactured reverse pump and dumps- to buy shares cheap and then report greater than expected earnings- giving shorters a haircut in the process while enriching themselves. Many of the laws we have now- including that worthless SEC which was designed and sold to us as an enforcement agency- were brought about by those men which included Percy Rockefeller and others.
Big holders like Sprott or Sun Valley Gold or hedge funds are paid to make investors money. They are not nimble like us. They cannot dump giant positions after news is out- therefore they must know in advance what the news is. They call routinely. Some have dinner with Joe O. They know the game. When they hear things might not be going as planned- they get out. There is nothing protecting the common investor from this- except his own naivete' or ignorance that this doesn't happen. IT HAPPENS ALL THE TIME. People are greedy. Many are crooked. They do not care if a bunch of deplorables get scalped. That's what they do. That's how ZIJN hit the exits after the developmental muck memo.
Law does not protect you. The SEC will not protect you. Those days if they ever existed- are gone.
So I get on here to seek information or absent that- a little concensus. I get irritated when people start their childish labeling or bullying. You don't have to be bullish or bearish- just be truthful. Some of the posters here are so ridiculously biased I just ignore them. Some are just angry. Sometimes I have found excellent info here that I have followed up on-
Truth is, I am probably going to trade out my entire position by next year. I was hoping for 1800 dollar gold this year and while I haven't given up yet- it would be nice to see PVG rally up to the 25 dollar stock that I have always believed it was. But my personal circumstances aren't going to allow me to do that.
I am going to retire to a little town, on a river, in the last best place. Hone my blood and nail knots, and catch a brown or two. I can sluice there a little too.
My apologies to those predictable posters. I shouldn't have referred to you as cheerleaders.