My opinion on the recent sell down has to do with the US Fed Interest Rate. I'm certainly no expert in this field but the research I have done of late tells me that;
1. US interest rate likely to rise a quarter of a percent next week. 2. If/when this occurs, the US dollar rallies and gains value as traditionally demonstarated over the years in similar situations. 3. When the greenback goes up, the POG goes down as gold is not as heavily sought after as a safe haven. 4. The above mentioned points are now being factored into the current price and sell down of RSG a week before the higher interest rate becomes offical. Shorters also using this theory to drive the price down. 5. Once the dust settles in a week or so, business as usual for RSG. Great company. Huge potential. $2 plus in no time at all IMO. Just keep riding the tide.
I found the below article quite insightful and I believe it relates well to the current RSG situation.
http://www.*.com/what-the-strong-do...-and-why-were-seeing-green-2014-10/?r=AU&IR=T
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Last
63.8¢ |
Change
0.028(4.51%) |
Mkt cap ! $1.362B |
Open | High | Low | Value | Volume |
64.0¢ | 64.5¢ | 63.3¢ | $4.598M | 7.188M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
55 | 1380835 | 63.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
64.0¢ | 426030 | 54 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
54 | 1359090 | 0.635 |
19 | 214237 | 0.630 |
11 | 303015 | 0.625 |
14 | 360189 | 0.620 |
9 | 243903 | 0.615 |
Price($) | Vol. | No. |
---|---|---|
0.640 | 431081 | 55 |
0.645 | 510152 | 42 |
0.650 | 323946 | 26 |
0.655 | 506781 | 12 |
0.660 | 799445 | 16 |
Last trade - 14.10pm 13/08/2024 (20 minute delay) ? |
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