Post by
stockman6767 on Jul 20, 2015 8:14pm
Very strange behavior today?
The gold price today dropped big time and all the major gold producers promptly dropped between 7-11% and took large losses. LSG on the other hand started out with a large drop of the order as the other gold producers and dropped to $1.13. Then shortly thereafter it quickly recovered its loss and climbed to $1.22- 1.23 and it stayed there (between $1.19 - 1.22) for almost the entire day. I thought wow, what is causing this strength in LSG when the ENTIRE industry is suffering bigtime?? However to my dismay, in the last 20 minutes or so of trading LSG dropped like a rock back down to $1.13 - the low it hit briefly in the morning! Is this manipulation, day traders, hedge funds with an agenda, manipulation???? Very wierd.
Comment by
Lemboy on Jul 20, 2015 9:26pm
Price action today bodes well for LSG, great support for the stock in face of maket meltdown for gold stocks, support ran out of steam at the end of the day on the account of nervouse retail holders JMHO
Comment by
SKRiderFan on Jul 20, 2015 10:14pm
tomorrow will be interesting, barrick took a hit of 1.82 so with 1.2 bil shares thats quite a #, would do wonders for my bar tab ..lol
Comment by
sopot on Jul 21, 2015 12:06am
No, your explenation is wrong. People "in-know" were buying on that temporary opportunity, than regular trading took over driving S/P down accordingly to drop in gold price.