Post by
GGGsOldFriend on Jan 05, 2022 3:05pm
The simplest solution is usually right.
Here's the simple solution for NFG trading over the last few days:
Everyone knows news is coming in January. Everyone knows Canadian markets were closed on Monday and Tuesday, so everyone knew that NFG wouldn't release news until, at the earliest, on Wednesday (today) when Canadian markets are open again. NFGC started trending up last week in anticipation. That continued in the U.S. on Monday and Tuesday. When there was no news released this morning (the first opportunity when news might have been released), there was a gentle sell-off in reflection of the fact that we really don't know for sure when it will start flowing now.
At 2:00 p.m. eastern time, the FED minutes came out. Financial media interpreted them as hawkish and the manipulative bullion banks went to work pounding silver and gold. Miners (inclucing NFG) sold off in sympathy with the metals. That's the simplest solution, in my opinion. The simplest solution is most likely correct.
Even so, right now, NFGC is trading where it was only Friday, a day we were all very happy with at the time.
Comment by
seashark00 on Jan 05, 2022 3:08pm
Except that Canadian markets were open Tuesday and NFG began to slide from the open today at 9:30. Other than those two items everything makes perfect sense.
Comment by
GGGsOldFriend on Jan 05, 2022 3:18pm
Sorry about that. I'm not sure why I thought Canada was closed yesterday.
Comment by
likeike on Jan 05, 2022 3:22pm
Probably because of the dairy NAFTA ruling. Those dairy farmers in Quebec will be talking a different language or is it formage. IKE