......and so the carnage continues. KCN at $3.34 at the moment. Down another 7.2% today alone. I'm buying at around 3.45pm.
There is another support level @ 3.30 - hope it holds But we are not very far away from the lowest point of the 2008 crash... So you GOTTA assume risk is less that reward for a mid-long term holder And they pay dividends which means they pay you to hold.
Lot of bleeding from the junior section of my portfolio following the Gold price down, I presume. The two questions will be whether they recover equally rapidy (and whether gold starts a climb rather than a punctuated side-shuffle).
$3.30 is a support level, if it holds.... it's bottomed... i think it will, unless the half yearly results set it off (which I dont think it will, but you never know)
kingsgate, and a lot of the goldies, having a good day on not much gold price action. up nearly 5% as well as going ex dividend. shorts covering before the jobs report perhaps?
Probably profit taking from the common stocks and redistribution. They seem to have settled unless the recent price run triggers more people trying o get out. Im raising as much capital as I can, I recon we might have one more chance.
Yep agreed SS, I'm thinking the same in grabbing another parcel, I think the bottom is in atm. I did grab a parcel on the way down @ $4.00 recently, but didnt quite pick the bottom.......oh well
I got a good parcel at $3.40, im not expecting $3.30 but damn I want some bullets in the pipe if it breaks down to $2.80. Im happy to keep the cash if it doesnt. This decline has really worn me out!
I'm averaged at 3.76. Still three times as many buyers as sellers, 3.56 seems to be the selling defence line (in number terms, not charting) - interesting to see what Monday brings. Might be a Gold rally (10am prediction from AM) tonight to throw a cat amongst the pigeons again.
and the winner of the ugly competition i-i-sssss .. Kingsgate down 13%, top of the producer fuglies, never fails to disappoint
Ouch, why???? I really think people are panicing?? This is a buyers dream atm, but I'm holding off to see if any upward market trend occurs, could be one or two more days of volatility due to the sheep out there?
Yep, holding off at this stage, no point selling now.... I'll patiently ride it out and hope for a significant upwards movement at some stage within the next few months to bail out.
Down another 14% this morning to $2.30 Their quarterly report released today looked really promising with: "Group gold production of 47,509 oz at total cash cost of US$1,051/oz." ......but the market did not seem to like it. Anyone guess how low this baby will go?
