chartist, page-3

thanks, nordesmic.

What gets me wondering is how those selling RED at 91 cents make money? Did they buy before September 2009 when the price was lower? (Yes, it was that long ago that RED was below this price, except the 1-2 days last month when it dropped to upper 80s).

Perhaps these are instos forced to sell because investors are dumping their gold stock funds for other investments? (One of the few times that instos are a retail investor's friend!) Maybe its the instos that bought at $2.12 (ouch!), hoping to make a profit by buying RED again when it bounces up from the technical 75 cents?

For the record, this doesn't seem to be a short-selling phenomenon (yet). Only 12k of RED shares were short sales on Tuesday (Wed data haven't been released yet).

As for RED dropping to 70-75 cents, anything is possible. But right now there are 25 buyers bidding for 300,000 shares above mid-80s, so a fairly thick gaggle of buyers. Of course, these buyers could disappear under scary conditions (another update like RED's Chairman delivered in December would fit that category!) Meanwhile, I topped up a bit more Wednesday and might dip my cup in again if RED drops further.

As always, please DYOR.