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Let me tell you a story I had a FTSE 100 co that went bust some will know which one and the FCA do nothing and I loose
My mate was sold Dolphin a German property co that paid 12% it also went bust
He got his money back from the Fscs because he was misold it I still got nothing
Like I keep saying its consolidating after it's big artificial rise several weeks ago.You cant expect it to keep going up just because you bought it at the wrong price
Gone are the days of the 20% rises,you are just going to have to be patient
Dont forget the big rises were built on hype and when the money runs out so does the value of the share price
Take a look at Greatland gold or Orusur who had massive rises and then came back down
That's fine
His last sale was June 17 as per MrTbbs sharecast page
I have managed to find that his holding after this sale was
The current shareholding by directors is as follows
Josef El-Raghy 46,300,000 £79,265,598.59
Andrew Pardey 3,099,268 £5,305,946.72
Ross Jerrard 420,000 £719,039.99
Mark Bankes 150,000 £256,800.00
The correlation between Argo and Bitcoin has disappeared over the last few days otherwise we would be at £3
-Could be the massive rise during Febtuary that took the share price artificially high and now it is consolidating
So if he correlation has gone Bitcoin could get to 70,000 and Argo still below £3
I have searched for Josef last sale of shares but as he is no longer on the board its hard to find
I suppose you could argue that Schrodes are not going to buy this amount without in depth knowledge of the company
I have watched quite a view interviews lately with the likes of Andrew Maquire,Peter Schiff,Jim Rodgers to name just a few together with the Elliott Wave traders I follow none of them can understand the gold price and all agree in time its going to soar
Alot are against the actions of the Fed and the stimulus packages for those who dont need it .I dont always look aft the share price and thought it would have been under a pound by now so i was quite surprised it wasnt
Not doubt another drop in hold around 1pm just before the Nonfarm numbers