Re: No one seems to have an answer to this
in response to
by
posted on
Oct 04, 2011 03:12PM
Edit this title from the Fast Facts Section
That is the point of my title. " No one seems to have the answer to this." Everyoine is saying that since everything in the PM sector is falling apart all is normal.
The problem is that when TRX was at 1.50 gold was at 700. Now TRX is at 3.18 on its way to 2.75 and gold is almost 2.5 times higher which means TRX has lost a massive amount of value.
The question is that the shorts are firmly in charge and have been in charge for years. How do we know this won't go on for years in this circus. In other words funds long gold short PM shares.
The reason no one wants to answer this question is that we don't know and this could last for another 6 years. No one, absolutely no one knows.
Back in October 2010 of last year you told me there was no way TRX would go back down to 3. Here we are at 3. Doesn't that cause you to question your asumptions? I got carpet bombed by the people on this forum for even suggesting that 3 was in the cards. All you had to do was a little simple charting. BTW, this is not about my being right or having the right call in this matter. It is about understanding what the hell is happening.
Now 2.75 is clearly in sight. The DOW is pointing to 10,000 so 2.75 is a given. The charts have been pointing to this for over a year.
There is good news and bad news at 2.75. That should be rock bottom. If 2.75 does not hold than this stock is going to crater to below 1 and we can assume that whatever is going on in Tanzania was a lot of bull bluff and hype. There are other stocks in the PM sector that have gone lower but that are far more resilient than TRX. TRX is leading the charge to the bottom.
And again, that the whole sector is down is irrelevant. What matters is that the shorts are firmly in the driver's seat no matter what anyone has said. On this downdraft they have cleaned up and all the conventional wisdom was false.