I have been looking at all the comments with interest and as a non holder of AGO, but looking to buy it sometime I make the following comments
* Remember the old saying "The tend is your friend" AGO is still heading south (a lot slower now) or maybe a bit more East but definitely not North at this time. Bottom picking is always difficult. I will keep watching and waiting for a confirmed trend reversal. Yes I will not buy at the bottom, but hopefully I will not buy and still have the price fall.
* Fibonacci numbers are an interesting play. The numbers to watch for this stock are the Fibonacci numbers of 13, 10, 8 and 5. If 13 cents holds and it might, then the uptrend numbers are 15, 18, 21 etc. If 13 was to hold as bottom, I would buy on confirmed support of 15. If 10 is the bottom, I would buy on a confirmed support of 13 etc.
* I can't see too much potential takeover of AGO. They are mining areas ignored by the big miners and none of the other smaller IO miners have the money to buy. IMO the only possibility is a big player buying it to get AGO port access rights.
* Will AGO go broke - I hope not but I am also a realist in that even big companies have gone broke. I am hanging out for the new year to see what is happening in the world. Santa Claus rally is definitely not happening this year, so maybe it is a month or two late. Is global warming at the North Pole affecting Santa.
So all the above IMO and please DYOR.
I sit back and wait and see. Catching a falling knife is only any good if you grab the handle.
Griff
AGO Price at posting:
13.5¢ Sentiment: None Disclosure: Not Held
