higher low?, page-3

BM3121
Based on what?
The sp has outperformed its peers (explorers) and is outperforming many producers as well. There is no track record of management hiding anything since I have been watching. I believe Darren is probably more conservative than anything else.

MrGordon.
I think your hope that ABU and POG have seen their lows is justified.
The Cot chart updated last night shows commercials are still rapidly covering their shorts while the specs, being fed continuous bearish media reports are still reducing their longs.
Both are rapidly approaching a zero net position. I have read the commercials have not been this low on shorts since around the lows for gold at the end of the 1980-2000 bear market. This may suggest a major low is not far off or is already in.
The chart for US POG showed a very strong reversal candle last week. We had a pull back in reaction to the US jobs report being stronger than expected but this did not follow through in Asian trade yesterday and last night POG moved up again forming a higher low so far. It is also following through higher in Asia - up another $15 to $1251.
In AUD, the POG has formed a strong double bottom with an equally impressive reversal last week off the April lows to give us the double bottom. AUD in a down trend while POG might be bottoming in USD and already appears to have formed a bottom measured in AUD for Aussie producers.
On top of the chart reversals, June-Sep is traditionally strong for gold and for ABU we have just come out of tax loss selling and we are moving towards first gold in the next few weeks. With very high grades from GH (at indicated status) to blend in for the first year, a very simple gravity recovery process, and open pit mining on a resource very well defined near surface and with plenty of strong deep drilling results as well, I don't think we will be disappointed.