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Richmont Mines Inc. Message Board

  • insect_insight insect_insight Oct 4, 2012 6:47 AM Flag

    All upgrades in gold sector are false pumps = ignore!


    The only reason the slimy funds and investment banks issue upgrades in gold or silver miners is for purposes of benefiting special clients looking to dump stock, since all upgrades exist to screw the retail investors, as was proven categoriclaly during 2008. Companies like goldman, jp morgan, morgan stanley, etc. constantly upgraded junk equities, as they proceeded to dump them.

    Bottom line: this pathetic RIC joke trades near 52 week lows, a million miles away from 52 week highs, and it has no hope of regaining those highs, since all bear markets require a basing process before returning to a bull and that basing process typically takes 7-10 years.

    That means the only chance you would ever see a 52 week high of $14.00 in RIC again is if you are willing to wait 10 more years, and that is only RIC it survives the gold bear, which I doubt. Its assets are becoming increasingly worthless with each passing day and the only strategy that works is to short short short short short, either via the stock, in the money puts, or written calls.

    In the meanwhile you could own genuinely good stocks like apple or google or amazon, etc, that being protected by goldman and The Boys, have no downside risk of any significance.

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