I have to disagree with this same notion thrown up at every company share fall. I've seen it with MYG too.. a drop is always seen as a time for the 'faithful' to pick up more and add to their holdings.
True, the story might come good, and moeny will be made. But it still doesn't help the fact that the share price is going down, justified or not, and in the end all that really matters is it translates to a loss in money. A 2cent drop in PGI today is still 2 cents lost money that wouldn't have been lost.
Of course the counter argument is you can't time the market exactly to buy in everything after it's fallen 2 cents, but I certainly think it's better than always viewing things positively for the faithful everytime there's a drop in share price.
It's only because I've heard the same thing said on just about every gold stock that (basically all that i own, not a great year currently) falls due to a negative or averse event.
Considering the POG though, for the majority of goldies it doesnt seem to be translating into share price gains :( Just unfortunate to get in as a new holder before something like this broke down.. :(
PGI Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
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