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Richmont Mines Inc. Message Board

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  • insect_insight insect_insight Oct 1, 2012 3:31 PM Flag

    Dropping like a rock, heading for new 52 week lows

     

    There is no gold rush.

    the past year saw most gold stocks effectively crash....and even as bullion has moved upward again in a deadcat bounce, the gold miners have had NO positive correlation to bullion and that is especially true of the failing junior miners.

    So unless you are the best market timer in the world (instead of the call writing pumper you likely happen to be), then the past few months gains in gold stocks pale against the crash that hit them a year ago, and if you bought a year ago, you are still well underwater in most of your gold stock holdings.

    It is just laughable to call this a gold rush. In a real gold rush, there are tons of gold IPOs but you never see any today. In a real gold rush, bull stocks leap dollars per day on a sustained basis, but all you ever see are one day pops designed to sucker call option purchasers.

    In a real gold rush, stocks ignore bad news like common dilutions, only pay attention to good news, and quite obviously that didn't happen to RIC since it is a bear stock no matter how you examine it.

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