I found the typical gold and silver employee very sharp, works well at a counter with technology and customers, trustworthy, focused, mindful of time as quotes change by the second. That easily translates to many other business concerns. Sounds like 'suckers' is stuck on the word 'suckers'. Maybe 'suckers' was told too many times to go suck and the word stuck.
At some point when the pain is so bad holders will go numb and just refuse to sell (seller exhaustion), as they would rather be buyers, of gold and Goldcorp at some low price. Are we there yet? The chances favor seller exhaustion here. I've reached that point. No way am I going to sell. I'm holding for the value of un-mined gold in the Goldcorp ground now. The 2% dividend is now a salve for the pain, that doesn't offer much support. Look a year out and what do you see?
Do a search with 'India Gold Restrictions' and get an eye full of the natural law of unintended government action. India officials are so worried about their India current account deficit that they raise the levy on gold imports, now at 6%, and this has scared global gold traders to lower prices, but, wait a minute, lower prices has increased India's demand for physical gold! People in India are flocking to buy gold, double the normal amount! When most scared hands give up and finish selling their ETF positions then gold will resume another run back up. This is just another natural cycle, made worse by the ETF's.
A quick calculation makes me wonder who taught the sales crew to negotiate.
ERF gets $36 per BOE
BTE gets $48 per BOE
PGH gets $38 per BOE
PWE gets $45 per BOE
No wonder the pps depends on the price of energy.
FYI here's one more formula to e-valuate energy companies, 'BOE/share'.
Multiply daily BOE by 365 and divide by the outstanding shares.
The bigger the number the better.
The trick is to see an increasing number over each quarter.
Compare the 2 year chart of ERF and UNG and we see they track together pretty close, until this last month, ERF broke down. Will the dueling charts get back together? It would take an ERF pop, it can happen.
-19% bear market drop from Sept 2011 high. Gold down -25% has happened before, then after that bear got tired gold flew to new highs. This message board is full of nonsense. GLD a Ponzi scam? No, but it does allow physical conversion into paper trading so the tail can wag the dog, in both directions. Currently the direction is down. Several governments have tried to slow gold sales; however, the emperor has no clothes, only words and borrowed debt instruments.
GLD paper for gold can move the price both up and down more then physical buyers of gold. Paper for gold allows players to short gold easier (but they have interest carry costs) so the shorts can move the price easier. Buying physical gold takes gold away from the lenders. Once the downdraft stops and shorts 'buy' back to cover, then GLD action can nudge gold prices back up. Yes, the tail can wag the dog.