Paps I never bought based on what you have said. Infact I would never listen to whatever anyone suggests, especially on a forum such as HC. Take a look at the penny dread forums, many are suckered into something when they have nil education or understanding in accounting/finance, then they fall in love with a story, and lose a pile of money.
Fact is, it was fairly obvious that all resources were oversold. Samemrflappy summarised GBG's retrace perfectly: "not many stocks can stave off these GFC corrections". All one needed to look at was the basics of GBG and realise the level of investment Ansteel took at 85 cents, and how far the majority of the ASX resource stocks had retraced. A bounce was due.
Again China has forced Chinese banks to raise the level of all bank's reserves. This will not be good for commodities on Monday, and hence caused Europe's markets to sink tonight.
Good to see GBG hit $1 again, and I have no doubts it'll surpass previous 52 week highs - eventually. However be cautious guys, we have had a fair run from the lows, sentiment has changed awfully quickly.... Volumes have been high, especially today.
GBG Price at posting:
93.9¢ Sentiment: Buy Disclosure: Held
