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DRDGOLD Ltd. Message Board

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  • LUNAR_LARRY LUNAR_LARRY Mar 10, 2003 9:48 AM Flag

    drooy weakness

    the market sees it differently than you
    not saying you are wrong
    go drooy
    lunar

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    • "the market sees it differently than you"

      If you're saying that Durban is down right now because their lawyers rejected Kebble's offer for a settlement, then I'd disagree because it's hard to imagine that would affect the stock, IMHO.

      What's causing the weakness is the weak hands selling to shortsellers. The shorts are just scaring the shares out of weak hands, which they've been doing for about six months, and picking them up at cheap prices (probably the funds).

      But I've got to say that I'm amazed how many weak hands are still in DROOY. I'd thought that by now we'd have much stronger hands in the stock, so the shortsellers wouldn't find enough suckers who'd be willing to sell cheap, and DROOY would've moved a lot higher.

      Oh well, I learned patience a long time ago, so I'll hold. Also thinking about placing another order at $3 in case the short-sellers manage to shake it down that far. Actually, that would be lovely.

      • 1 Reply to durban_jockey
      • Don't usually reply to myself, but I just had a terrible thought. That is, most goldbugs (including me) started buying the gold stocks three or four years ago. We know gold's in a bull market.

        I wonder if that means most of the newer gold stock investors are remnants (no disrespect intended) of the tech bubble, wherein a lot of people bought high and sold low. If the habit of buying high and selling low is at work on gold stocks on every dip, then we could have a long way to go before gold stocks take off - the added selling could turn every dip into a trough and hold the price low for longer than it might normally take to recover if people were buying low, selling high (or holding).

        A terrible thought, but if there's even a hint of truth in it, then ONLY the strongest of us will survive this gold bull market! Every dip could be gut-wrenching - hell, I'm going for a beer. Maybe more than one.

 
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