Warrants Killer Move
in response to
by
posted on
Dec 04, 2012 02:35AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
It seems somewhat plausible to me that this move down is what Bill M would describe as a killer move - one meant to get people to loose their positions. Coincidentally, just at the peak of Tax Loss season selling for maximum effect.
Gold is still in good shape. Silver is amazingly strong.
The AUM share price has put in a floor, yet the warrants have lost 50% of the their value from when the share price was last at this level.
Yes more time has been lost on the warrant since the last shareprice low, but this is beyond anything I've ever seen - so severe that it seems to have malicious intent. With such massive sell orders it washes out all buy offers.
For the future, gold and silver seem to me to have one more week of real suppression at these levels - so likely too will the stocks. We could well see $1680 gold again this week. My guess is that things are being kept orderly in advance of employment numbers this Friday and Fed meeting next week. What better timing for a killer move for all things that can have unlimited inventory placed against it - like share prices?
It doesn't make it feel any better - I am actually very concerned. It has definitely ruined Christmas :( for me.
However, Operations you posted the significant sell orders indicative of someone large bailing ship. Couldn't those huge orders be meant to establish a definite floor at those levels? Look at how many shares are for sale there. I didn't see any of the price action from Friday, but today's supposed red flag of someone bailing out didn't materialize at all. After all, nobody sold today (on the TMX) - I have to look at it as the 'glass being half full'.
Time will tell. Good luck to all.