More and more it looks like bad news is coming on the drilling front. I can't think of any other explanation for this relentless decline. Can anyone else?
Interesting day: Price of gold sharply higher,and all mining related stocks sharply down at the close. Probably because pps of miners don't care about the overall daily movement of gold, but only reflect which way the POG was moving at the EOD. And today, the POG was giving up some of the early gains. That trend will probably continue early tomorrow, although if POG can hold above 1332 tomorrow I think pps of miners will resume uptrend. This was a major breakout day and thus is very bullish, long term.
There could be some real bargains at the opening tomorrow.
That was because the price of gold dropped in the last seconds. JNUG is normally very sensitive to the price of gold, but occasionally it does do its own thing. Not in those last seconds today, however. Instantaneous reaction to the drop.
Given the negative pps action, my concern at the moment is that disappointing drilling news is leaking out. Remember that we here will always be the last to know.
Something is very odd here. JNUG should logically be down $2.50 instead of up by that amount. I wonder if this is a phony quote?
Or have you no clue? Don't feel bad. No one does, short term. Long term, it sure looks to me as though we are in the early stages of a huge long term rally in gold,and thus in gold stocks. JNUG is the perfect vehicle for playing that.
Really? You're willing to risk missing the potential big move up if gold has truly bottomed--and all over your fear that it might move down a few pennies in the short term?
JNUG performed well today. Seems to me that if the miners have bottomed then this is a no brainer buy and hold situation. That is how I am playing it. So far so good!
"They" can't keep price down if there are more buyers than sellers. It is called "law of supply and demand." The "demand" side is the problem right now. There is not much of it. Why there is not much is the question of the hour.
Don't know about the manipulation part,but there sure have been a lot more sellers than buyers over the past few days. It may be only that selling begets more selling as panic spreads. Stocks were never known to perform rationally at all times.This may be one of the more irrational times. Then again, Sweeney may be leaking that she intends to find for the government in the current suit. That would be the only kind of solid basis for the pps decline that I can see.
The inability to confirm success on any of the current wells being drilled is, of course, highly disappointing. The "good news" is that this should have tanked the pps by several points at least--down 5 would not be a surprise.
But instead we are down less than a buck at present. I'm not there, but it means to me that Hessions is at least putting a positive spin on the bad news.
What do others think?
It has always been obvious that the risk in this stock is that the government prevails and wipes out the common stockholders,in which case the pps falls to zero. The upside potential is several times the present pps. The daily movement of the pps is a calibration in the minds of investors as to which outcome is the most likely. The fall in the pps lately means that investors are thinking that the chances are improving for the Government to win and wipe us out. Since no one knows what will actually happen, the pps is simply a function of current perception.
Live with this fact of life or else sell and go elsewhere. No amount of whining on the MB will influence the outcome.
IAG will move up or down with the world price of gold, not anything specific to its own situation. It is beginning to look to me as though gold is reversing to the upside. Of course there have been many other false breakouts lately, so we will just have to wait and see.
A guy named Larry Ellison sure thinks gold has bottomed and is on the way back up. And his number one stock is IAG. That has helped this one, but another one I like,SAND, is doing even better.
One thing is now for sure. PSEC will not pay the lawyers a dime to settle out of court. They will fold their briefcases and slink away.
Not only will it be "more difficult now to win them," it will be impossible. Much weeping and wailing today by the greedy lawyers! They will find it hard to come by any sympathy.
Rather than short term forecasting of the movement of the pps, what does it mean long term when the pps either moves up or down a couple of pennies? Does it mean that someone knows how the FNMA story is going to end? If so then it means I should be paying close attention. If not, I can focus on something else.