Summer DoldrumsI'm still looking for a retracement in which to purchase additional shares. The chart looks very good (specific to the 90-day, 2 hour chart) and I do believe that the low we saw in the U.S. at .21 is exactly that, the low. Now, where do we go from here? That's the key question.
Gold is up nearly $100 from it's lows a week or so ago, and the price has responded favorably. However, we are still at a ridiculously low market value ($25M US as of right now) and any retracement will be slow and grinding. I do think we'll then see another re-rate to the upside which will happen quickly, just like this last rise. It was interesting watching the bid/ask on the latest share price rise, as the Market Makers were bidding up the price with little volume, sometimes 100 blocks of shares. It will be fun to watch the ask rise quickly with little volume again, and scattered with large share block purchases.
When will this all happen? Your guess is as good as mine and I'll be accumulating any pullbacks/retracements.
Last point, it's all interesting to see the volume on TSX has gone down this week. I do believe the bulk of the selling is done.
All the best,