" The gold action caught the attention of market veteran Richard (Dow Theory Letters) Russell.
Using a point and figure chart with a 2:30 p.m. Eastern Time cut-off, he noted: “Gold may finally be on its way to higher levels. Gold has risen to fill the $1,640 box, which is constructive. The next bullish action would be a rally to the $1,650 box. This would take gold clear out and above its consolidation base, and would put it in line to try for $1,680.” (By 4 p.m., gold had cleared $1,650).
Russell concluded his Wednesday evening note: “If gold takes off, the gold miners will look dirt cheap.” "
PXG is looking dirt cheap at the moment, considering it floated at 20c and is currently at 23c with a 276% resource increase with minimal dilution in the past 2 yrs and future dilution looking to be minimal too thanks to historic stockpiles cash flows, happy to keep holding this one. gl all.
PXG Price at posting:
22.2¢ Sentiment: LT Buy Disclosure: Held
