I still like MYG too and have a significant number of shares and options too. Long term, I have few concerns.
Short term, I have concerns about the markets again. Seems to me this inverse Head and Shoulders in Gold, which normally portends an uptrend is breaking down. In addition, news out of Europe is worsening again. Add to that Copper seems to be breaking down, which is might be a bad sign for equity markets. Copper is normally a good lead indicator of market direction.
Will Gold buck the trend and move higher, dragging up Gold stocks? It would be nice, but I wouldn't be too sure.
I'm not for the moment saying anything negative about MYG, but am just preparing myself for initial headwinds as it releases its drilling results and DFS.
In the end though, money printing and high inflation should provide good support for Gold and Gold stocks
MYG Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
