It's one thing for GOLD & SILVER to trend back down and of course reverse some mining stocks from recent run up, but GORO's earnings were very very bad. Thus, I wouldn't touch this stock unless it finds low 2's, or improves earnings, or both.
Actually there is two ways about it. There's the short way.....REMEMBER?
So a few days later and almost finding 2's.
Or are you referring to the EXPLOSION in your pants when "SHORTS" crushed this stock from mid 2's to a new 52 week low?
I count at least 6, but here's just a few that could continue moving this undervalued stock higher.
1. Next month, REPORTS top-line RESULTS = PHASE II "CLASSIC TRIAL"
2. REGULATORY REVIEW = CLEAR & CLASSIC PHASE II results and discuss PHASE III plans.
3. Initiate PHASE III (CCXI68)
Again, there's at least another 3 significant upside catalysts reporting this year.
GOLD & SILVER run is over.........
Expecting HMY back under 2 as GOLD drops back below 1200 and SILVER under 15.
HL, HMY, TAHO, EGO, GORO, AUY, AG and many more dropping like a bad habit. Could find many back near 52 WK lows soon.
No reason to think the correction is over, as it's just starting. GOLD back under 1,200 and SILVER under 15 is coming.
WE REALLY NEED a stiff shake out here of the weak hands before next leg up. Make it happen shorts.
IN & OUT of SPEX in about 10 minutes this morning. Hell of a trade.....
,Many of mining stocks will find their stocks back near 52 week lows.
This company needs new management team badly.
However, that floor with very low volume and in the low 4's, invites shorts to take the stock down especially if they still need to cover.
You gotta get up EARLY Lyle lol.
OUT of this one with last sell at $4.40.........Nice gain in about 10 minutes lol.