RE:RE:RE:RE:TA is overbought BGraham2 wrote: But the price action of any stock, in any sector , is results driven. be they drilling results, production results, manufacturing results, etc.
Yes but nothing on the scale of exploration unless something like a revolutionary product.
Toyota does not one day come out and say "Wow - Somehow sold 200 million cars today!".
Not going to argue further - the term "strike it rich" definitely refers to gold exploration and not producing widgets. the leverage of the results.
That aside, there seems to be a common misconception that the POG today means more than it should about explorers. In fact, thinking more about this - the peak POG should mean bad news for explorers...doubtful of a takeover at lofty prices and production coming in ~2 years down the road at lower prices. I don't think we are at peak POG but probably sometime over the next year.
What will the POG look like in 2 years? No one knows. as mentioned before, no one every could have foreseen what has happened to oil ....looking forward 2 years ago. One would think the POG should be in good shape 2 years from now but no certainty. If tomorrow, they figured out sticking a blueberry in your ear provided immunity from Covid19....it would be a nasty day for gold. :)
tC