Good for you Mozax and Greenfish, I wish I've more to top up too. We have more buys then sells today and yet the Sp ends up 'Doji'. Yes, speculation of Gold reaching to the sky is there for sure. Lets see what we get tomorrow?
Encouraging to see a few buys since the morning, it appears that not many are willing to depart from their pride possession of golden tickets :) I agree Vic, its been very uncomfortable drag to sit here without seeing any action packed progressive news from NMT front for months now, except 'the start of the exploration' thing. But, the basics are there and yet the Sp is below the NMT entry level which defies the logic. In a way, it reminds me the concept of the Bamboo tree, something that takes long time to build the roots and foundation under the ground in preparation to shoot up sharp and tall in future. 'Our time will come'!
Gold is steady over 1500 mark. Looks like we are back to the low volume/ low posts regime again whilst our Ceo is tirelessly working on the project at hand!! In this waiting times, 4.9-5p seems to be a new base against the current 5.30p resistance level.
Same story, lack of news takes some money away, anticipation will bring them back.....in the meantime, a few big buys/ sells will continue to dominate the game!
'Doji'- neutral stage for agreement to propel the Sp in one direction, either up or down, this time it is for down till the next bounce back for whatever the reason! Without positive news it would be challenging to sustain for 'Spencer'. Hopefully soon.
Overall, this ridiculous low levels should have endured for far too long and it is due for major correction in tune with the current macro picture and underlying potential here.
Todays buying got over shadowed by a few large sells here and Nex. However, volume is still relatively good and the fact we ended up a 'doji' day at 5.75p is a sign that underlying current is bit bullish. Tomorrow we may break 6p towards 7p.
I would rather see a gradual sustainable uptrend, now between 6-7p, moving to 7-8p in few days and so on than a spike, or parabolic rise which would invariably come on the day of explosive NEWS, in the meantime, happy with process.