It has to be a disappointing day for BSG in view of the strength...

It has to be a disappointing day for BSG in view of the strength of the gold and silver markets.

A recent trend in BSG has been to open strongly and the buyers are taken out by sellers, so that BSG closes at or near its lows for the day.

While it was a positive that a 250,000 buyer at $2.64 appeared in the pre - close it was disappointing that the bidder was not gazumped by other bidders, and instead was able to fill a decent amount of that bid.

For those technically minded, at $2.64 BSG is on support in a short term uptrend channel.

Some recent analysts views of BSG/PJO are on the BSG website. I was not impressed when future earnings were worked out based on US$12.00 silver and a long term price of US$10.00 silver and using a gold price more than US$100 below current prices.

When will these people get it? We are in the early stages of a precious metals boom. It becomes a nonsense to base future profit projections on prices well below current prices.

Just like when oil was US$55 analysts were making fools of themselves basing profit projections on US$30 or US$40 oil.