Wow. On the gold charts, this is our last stop before high 600's IMO.
Buckle up if this doesn't hold.
The only positive note is the % drop from 1025 area to here is about the same as the % drop from 725 area back in '06...let's hope this is our support.
is anybody jumping ship if this thing really starts to tank? i'm sticking around for a while, but i'm not hanging in there to see the 600's. i don't see the point. all confidence would be lost. it could take many month to come back to the 800's.
Nate, even if we fall to the $600's we're not going to get much more downside in the miners (I don't think we will) as a lot are trading at levels near or below when POG was in the $660's.
Yamana has a negative cost/ounce of gold produced so should be able to make money at any level, and was trading @ $14/15 when POG was UNDER $600!!!
Don't scare me like that GF, new support is .01 until we get some hard numbers and the BK is cleared. Awesome entry point here as is MMTE (Sitting on a million shares there)
10 comments:
Wow. On the gold charts, this is our last stop before high 600's IMO.
Buckle up if this doesn't hold.
The only positive note is the % drop from 1025 area to here is about the same as the % drop from 725 area back in '06...let's hope this is our support.
is anybody jumping ship if this thing really starts to tank? i'm sticking around for a while, but i'm not hanging in there to see the 600's. i don't see the point. all confidence would be lost. it could take many month to come back to the 800's.
Nate, even if we fall to the $600's we're not going to get much more downside in the miners (I don't think we will) as a lot are trading at levels near or below when POG was in the $660's.
Yamana has a negative cost/ounce of gold produced so should be able to make money at any level, and was trading @ $14/15 when POG was UNDER $600!!!
i didn't know that...thanks for the head's up joe. that eases the stress some.
AUY has just gotten Waaaaaaay oversold.
I really think this particular one is due to panic and forced liquidations.
I would not sell my AUY.
Anyone know why QMNM just fell off a cliff?
Gotta love these pennies :)
WHAT????????????????????????????
BRB
Don't scare me like that GF, new support is .01 until we get some hard numbers and the BK is cleared. Awesome entry point here as is MMTE (Sitting on a million shares there)
I was watching the level II and after that last order was filled, which was a pretty big drop itself, the bid was showing in the low .008 range.
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