I think the COT Report (apart from the marked increase in Gold Open Interest - and there's been plenty of narrative from the usual narrators on this ) has been pretty 'meh'. The percentages don't look that 'out of the box'. And we always get them almost a week late..
As for our cycles man, his crystal ball has been very hazy lately with respect to Silver.. He quoted earlier last month a rise into the end of June from memory, - I'm still waiting). Whilst he tends to be fairly good, he isn't infallible.
As for the big July event... you could say there's a 'big event' almost daily/weekly, so I'm not hanging out for that one either!
On the other hand, that recent review of the RIU presentation and "news flow', gives me space, and the hope for not relying on every Silver Trigger or rumour to move our SP.
I'm buoyed by the the thought of 'news flow' being a 'series' that might help with the momentum. Often one piece of news sets a spike & deflate cycle, (especially if it's anticipated - this Stuart Shelf one was hardly anticipated by most here) I think, whereas a series of some solid and real news over a period of a month or two makes a huge difference as a rule...
So in reality, perhaps we shall see good news re:
1. Stuart Shelf 2. Smaller breakout in Gold above the US$2400's (with hopefully a follow on for Ag) 3. DFS showing enormous free cash at current POS levels 4. Curnamona (Goldie,, you sure you're not holding out on us?) 5. Uno Morgans 6. Finally a decent breakout for Ag
In any order will do me, over the next month or three
IVR Price at posting:
4.8¢ Sentiment: None Disclosure: Held
