I bought some. I calculate MOY is trading at a PE of 3.76. Whats...

I bought some. I calculate MOY is trading at a PE of 3.76. Whats the downside??

Well lets say gold drops, yeah o.k, could happen.- but at this point in the cycle that would be related to a strengthening U.S dollar hence a weakening Aussie dollar. If the Aussie weakens it obviously supports the fundamentals of this debt free miner, and thus nullify s any further drop in the share price . We could be looking at a rally either way to be honest. The chart says this is looking for a bottom. Aussie bulls called yesterdays close a....

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BULLISH MATCHING LOW
Definition
This pattern occurs when two black days appear with equal closes in a downtrend. Matching Low indicates a bottom has been made, even though the new low was tested and there was no follow through, which is indicative of a good support price.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The second day follows with another black candlestick whose closing price is exactly equal to the closing price of the first day.
Pattern Requirements and Flexibility
The Bullish Matching Low consists of two black candlesticks. The length of the first candlestick should be normal or long. Both candlesticks should close at the same level.
Trader’s Behavior
The market has been lower, as evidenced by another strong black day. The next day open higher and trade still higher, and then it closes at the same price. This is indicative of short term support and will cause much concern with the bears. What reflects the psychology of the market is not necessarily the daily trading action but with the fact that both days close at the same level.
Buy/Stop Loss Levels
The confirmation level is defined as the midpoint of the first black body. Prices should cross above this level for confirmation."

The stop loss level is defined as the lower of the last two lows. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered.

SO- is someone trying to trigger a stop loss here or what?? I figure these small cap companies are fairly easy to control in terms of price action i.e - the 1 million on offer only really represents $200 grand- not a huge amount but enough to sit there and look intimidating for your average retailer....like me!

MOY has always been a little late to the party in terms of price appreciation, and I guess this could be due to the higher cost of production. But when MOY gets its party hat on it parties hard... MOY isn't your see it out till midnight and take some profits kind of player, rather she goes on a 3 day bender, three nights to remember. Like that time it went from around 8-12cents to 40 cents?? That was a party.

And to finish I thought some of the gold exploration hits looked pretty good to... I think this is in bargain territory but unfortunately there are 1 million on offer @ .18 so some buyers need to step up, or someone needs to let the breaks off if gold starts to move.