Re: Green finish ..
in response to
by
posted on
Mar 15, 2012 06:07PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Took a break from skiing Whistler today and it's been quite productive. 180cm of snow in the last 7 days and 30 more expected overnight takes it's toll on my knees. A small breather day before heading back to Hogtown on Saturday
Nice bounce off the 200 day average. The post PDAC selling is likely over IMO. I don't think there's enough selling pressure to push the SP into a longer term downtrend and the 200 day MA will hold as support.
As for manipulation? There is none. It all depeneds on the perspective from which you look at it. Some investors like the richardsons will buy a company because they believe in management and other fundamentals (the long term buy and hold). Others will buy good companies that are undervalued (still buy and hold) and others still will trade swings both short and long term. Prices fluctuate for a reason. the short term and swing traders all look at the same charts and trade for the same reasons... so often a trading point becomes a self fulfilling prophecy (like AAPL bounce off $600.01 before falling hard for a loss on the day). whether you choose to trade like that is up to you but at the very least understanding the machinations of the way a trader works (because often they work aganst you) then life becomes much simpler and buying price points become much easier to identify.
I placed an order at 68 cents to double my PDG holdings over a month ago and it got filled today. I also bought a couple of put contracts on AAPL this morning just as a flyer.
There's nothing wrong with this company PDG as long as you are patient. We are moving away from an exploration company into mine development so a few nice drill results won't do too much until a new resource is defined (likely when the Feasability study comes out). One things for sure, a year from now it will be worth much more.
I also think Gold stocks are close to bottoming ... there's lots of signs on the GDX chart that say things are looking up.