Specifically NCM, KCN, SLR Garry Glover was just on 'Your Money Your Call' From a technical viewpoint he sees old major lows almost reached (KCN) or exceeded (SLR and NCM), and enough time has been used up in the declines. He also has a general view that when a significant high fails after barely surpassing a prior significant high, expect a likely retracement to the first low (KCN) or a bit deeper (NCM). Silverlake (SLR) has overshot. He figures these stocks have been 'cleared out', and when funds return to gold stocks they will enter the bigger ones first and also cover shorts in these. Said he's buying SLR tomorrow.
Hope so...hold all 3 (that's as far as my goldies go) and it's been an absolute bloodbath for all of them! Worst performing shares I have ever hold :/ Hope to see an upward momentum here.
Yeah it's been a very rough time for goldie holders. No point selling now. Glimmer of hope with Glover's comments. He was quite enthusiastic and he's usually impassive in style. He's not infallible unfortunately as in when he was tipping a last washout leg down in the ASX200 in H2 last year which didn't happen/ To be honest I can't see any message in the candles just yet to reflect his view - they finished on or near their lows - but he has other reasons
Geez what's going on over at Silverlake Resources (SLR)? At over 11m shares exchanged isn't that record daily volume? Share price ended close to its intraday low too. Garry's calls since the 17th Apr aren't performing in the goldies - SLR well down, KCN down, NCM slightly down
Yep same bought more last Friday of each hoping to pick bottom.....hopefully not too much more downward trend on these fingers crossed
I take full responsibility for SLR, I bought them yesterday trying to pick the bottom, I get kicked in it instead....its happening again Mum!!!!
