It is insane. Doesn't make any sense except that GS has shorted the #$%$ out of this. Gold stocks will rise again but not sure when. Most will have lost patience and sold by then....
The RSI indicator is at or real near 20. When it has gotten this low in the past it generally has bounced pretty hard. So I wouldn't sell just yet. Hold on if you have the stomach.
This stock has just been hammered relentlessly. There are so many calling for gold to hit $1000 that I don't doubt that it may try to get there. The funny thing is that this stock was selling for the same price when gold was $300. Now, for you astute investors, I am sure you are saying well the stock has been diluted since then. But not really, not too bad. Gold stocks never participated in the rally the way they should have. If gold gets cratered again, and it may, that is when the phoenix will rise from the ashes. If you have that kind of patience I think you will be rewarded. Right now not so much.
Hang in there.
Honestly, what pros? Most of these guys look at the current trend and just project it out.
Eventually the trillions created out of thin air will result in inflation. As soon as the banks feel healthy enough to lend there will be massive money created out of fractional reserve banking.
Look, be patient. If you want this to go up this week, or next month or within 6 mos you might be disappointed. its a coin toss. But eventually this stock will head much higher along with gold. I have heard, and I agree, that most will be long gone when the "real" money is made in gold. So, to that end, there may be one final flush out.
If you sit and look at the ticker all day you will probably be dissapointed, either because it didn't go up as much as you thought or it went down.
I like the report. I think it bodes really well for the company. Never worry about the day to day gyrations. Step away from the monitor and hold this company for 3 years. You will love the outcome.
Sentiment: Strong Buy
dividend should be cut. I am a very large buyer in the 3's. They have enough on hand cash and a good policy to weather a melt down of gold prices for many years. Gold will ultimately reach new highs. It looks like we are in a repeat of the 70's. Gold may drop to half its upper value (into the 900's) prior to regaining traction. Definitely not for the feint of heart or the people sitting watching the ticker every couple of hours.
If you really believe in manipulation then your trading in IAG is completely illogical. Why would you play in a rigged game?
My opinion (ie guess and nothing but that) is that gold will see the mid 900's again before gaining traction. Eventually it will go higher. I agree with the likes of Jim Rogers that gold will go down and overshoot to the downside. I am actually thinking that the miners may have some of it priced in already. Maybe, maybe not....
There will be very few left here. The ones that have the cajones to potentially ride this down into the high 2's or low 3's will do extremely well. Gold will go much higher. Might have some down to go but inflation will kick in. Banks have finally got their reserves back and will start lending (if) the economy improves and then watch out. Because once the inflation genie is out, she doesn't come back in..... If you can go away and not look for a couple of years you will do well. However, the pain may get worse prior to getting better.
This is ridiculous. I know this sector is hated but this doesn't make sense. Eventually this imbalance won't be there anymore or someone (company) could go in and sell it all and make a nice windfall.
they will for sure but gold is going to plunge for a while (it seems, I have no crystal ball and nobody else does either). I do think that this stock is holding up well in the face of this big gold sell off....
like jim rogers said recently, gold could overshoot to the downside between $900 and $1000 per ounce. He has a pretty good pulse on it. I think that he might be correct. When it gets there I will be buying a lot. Inflation, on a world scale, can't be more than 5 years off. Everyone, and I mean everyone is printing money. Once banks start to loan, watch out. The flood gates will be open. BUT and this is a big BUT. Most people on this board will be long gone from this sector.... The final flush will be when gold gets its final smash down to that area.
Rogers says that gold could go down to between $900 and $1000 in the next year. I don't doubt it. There is no real catalyst to make it go up right now. Eventually it will go up but I am not sure many can wait the necessary 5 years. By the time people want to get back in it will probably be too late. Sentiment on gold is still kind of quasi bullish. This will die. Look at the 70's. there was a 50% pullback,
I firmly believe that miners will eventually move to very high (10-30 baggers) levels but it will be when most are gone from this area. We are close. Probably within 6 mos or so. Gold won't get any traction with the fed saying they are going to taper, no inflation out there (reported, but i see it at the grocery store). Even goldman says that gold with eventually rise but they are looking at 2017. I think it will happen before then but most will be broke by then as the emotion of holding a losing proposition will make them switch out. Then miners will rise because there will be nobody left to sell.
I have personally lost a small fortune on miners. The last 2 years they have gotten shilacked. To say that the bloodletting is over may be too soon. I don't think you will do bad if you get in here but if goldman (a company that personally makes me barf) says they are betting on them going down then there is going to be substantial headwinds just because of the recommendations. THat coupled with Rogers saying that gold may hit $900-$1000 per ounce before gold resumes its upward trend scare me. Rogers is uncanny with his patience and his ability to correctly nail the gold market. He said there would be a correction, and it has been occurring. I think that as soon as some reduced QE is announced gold will become extremely week and there will be another wash out. THat with the fact that India has restricted imports.
Don't cry manipulation.. All markets are manipulated.
Did anyone see Rogers saying that gold was going to $900 to $1000 per ounce? He is uncanny in his ability to pick the bottom numbers. That prediction scares me. He said long term that gold would go much higher but it is longer than 2 years. Not sure if I can wait that long....