Cheap buying Today, page-37

Hey RhysD,

Me too, I've bought a similar amount at a similar average for the Family Trust. I'm confident that the sentiment for gold will change to the upside over the coming months. In fact, I think we will at least break even during that period. I even bought 500,000 @ 0.8c today for my own personal portfolio, breaking the main rule of only investing in dividend paying stocks for the personal portfolio.
Looking at today's chart:

1. The RSI is well into oversold territory for the first time in a couple of years. Indicating a reversal to the upside is likely.
2. Today's price action has gone outside the bottom Bollinger Band indicating that the sp is very likely to head back to the average (ie a mean reversion) of 1c.

The Fundamentals for MHC haven't changed, only the market has given into irrational panic of continuing interest rate rises by the FED and Central Bakers to fight inflation despite the HUUGE level of Debt. There is so only so much tightening available to the Bankers before risking a complete collapse of the financial system. As that well respected US stock market analyst, the great Richard Russell always said: The FED has two choices, Inflate or Die!
I reckon there may be only a couple of rate rises left before there is a pause followed by rates easing as the Central Bankers give up the fight on inflation. Once Inflation is recognized as uncontrollable gold will come into its own. Then we can brag how we bought MHC for a song at 0.8c. We are about experience a rerun of the 1970's with gold making new ATHs.

Ps: I noticed a couple of bot transactions @ 0.7c totaling a grand sum of less than $500. Let's hope this is the bottom.

GTALTHers!!