fml is no laughing matter, page-22

Good debate, Pinto & G'Scan (not sure about your Aged Health policy though, Pinto!)

My 2 cents is that there are a couple of things at play with miners in general and FML in particular at the moment.

- Fear everywhere so investors are heading for safety and still thinking the gold sector too risky: good coy, bad coy - who cares? sell sell sell.
- RSPT doubles the uncertainty - $$$ have even more reason to flee mining equities, particularly in light of above.

Particular to FML, the nagging question of reserves has not gone away. When it has been addressed significantly we will see the solid permanent re-rating we have all been waiting for and it won't matter a hoot about the share reg or d/traders or the RSPT.

In a severe market correction, no equity - IMO - will be spared but I think goldies will appear from the dust first. Of course, if the POG keeps running or goes parabolic that will indeed be "game changing".

We had the irrational exhuberance to get this mess started and the current irrational pessimism in goldies is just the other side of the coin.

I don't like the SP action any more than anyone but if you look at volume during this last retrace it has been low compared to other movements (up and down) last year. Maybe there are a lot LTermers holding FML now and they just aren't letting go. 20 odd mill each day might just be day traders taking turns at each side of the trade...

I don't know TA from shinola but it sure looks as though the AUD has had it and the Aussie POG wants a new all-time high.

Someone posted something about tajking a break and going fishing while the market machinations play out and I like that sound of that now. I've got some gold, a bit of cash and reduced my blue chips. And no more FML trading parcel for me now. It's all "core".

Good Luck all,

See you on the other side of a re-rating.

Cheers,

C12