Yes nice drenching here in Adelaide and a welcome one, although I do love my 40 degree plus beach days.
"biggest change is "sentiment" for the sector - and that coincided bizarrely with the easing of the US QE - or the beginning of "tapering""
Reiner IMO far less bizarre than the big down trend during a time of strong QE. That down trend with heavy shorting made the rising gold price on news of tapering all the more likely. I mentioned at least once I was looking forward to the tapering so the POG would be able to start to rise. Shorts always cover into "bad news" when they know the bottom is in or very close and we have seen them cover into the news of QE tapering and the POG also kept rising on the second round of tapering. It held up very well during the extended Chinese New Year holiday despite many calls for a correction through that period, so the buying was not just Chinese.
IMO the bottom for gold is well behind us. Gold stocks are a leading indicator. They led gold to start with and they are still strongly leading gold. Especially when you look at how marginal many are still at the current POG. That suggests the market expects much higher gold prices ahead.
Not that ABU needs it but the higher the POG, the higher the profits and sp targets for ABU so will be great to see the uptrend continue. ABU is on the verge of another strong up leg now IMO. Likely a similar size to the last one (to around 4c). Hopefully it then only experiences another shallow correction and consolidation like this one has been (0.2 to 0.3c) before breaking through 4c as well. POG and ABU specific news likely to influence how quickly we get to 4c and how long it takes to break through.
- Forums
- ASX - By Stock
- PRX
- pog relevant to abu or not
pog relevant to abu or not, page-11
-
- There are more pages in this discussion • 37 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PRX (ASX) to my watchlist
|
|||||
Last
0.3¢ |
Change
-0.001(16.7%) |
Mkt cap ! $5.294M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $720 | 340.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 7439364 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 14175152 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 7439364 | 0.002 |
9 | 97550498 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 14175152 | 17 |
0.004 | 3380859 | 6 |
0.005 | 889000 | 1 |
0.006 | 166666 | 1 |
0.016 | 4926376 | 1 |
Last trade - 14.22pm 22/08/2024 (20 minute delay) ? |
Featured News
PRX (ASX) Chart |
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online