Gold stock sentiment indicator.
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Was having a nice chat with someone that recently returned from The Alice and Katherine in the NT.
In The Alice the restaurant was fully booked but only half full - lack of staff.
The motel in Katherine was fully booked but only half full - no cleaning staff.
We already know about the lack of fruit pickers etc.
Last night a restaurant owner pointed out the government is about to initiate a change to accommodate staff shortages. They are extremely happy.
https://www.sbs.com.au/news/international-students-will-no-longer-face-a-cap-on-working-hours-for-hospitality-and-tourism-jobsThere are two other elements that may be influenced.
Getting rid of bad practices - cool room interviews and short shifting staff if a duty manager is upset for any reason. When your daughter comes home crying because of an asshole duty manager... I do not recommend punching their lights out or worse. And the cops think it's all part of the job. Bar staff are also susceptible to drink spiking.
Offering full time work, a career choice and decent wages are the better outcomes.
If these positions are hard to fill then wages will rise and wage rises lock in inflation.
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Do you recall when single shares of companies were appearing and sometimes being sold/bought.
I was caught out myself and bought a single share of ALK at 72c and the price never went back there to till recently. I was at the top of the list.
I had to raise my bid otherwise I would have paid over $30 for this single share - trading costs.
It also established the low for the day.
A royal commission into banks stopped this behaviour dead and I have not seen a reappearance.
The point I am making is markets and share prices can be and are manipulated.
Over the last week I saw a few juniors with what I consider excellent potential break their uptrends even as gold was attempting to break out. The 'shakeout'.
Seen 52 week lows recently, often juniors with resources. The takeover targets.
What I have also noticed is a significant reduction in liquidity. This drives away certain types of trader.
Good to see holders refusing to give away stock at bargain basement prices.
Volatility in gold has evaporated in the last 2 days though it may appear volatile. It is flatlining.
Gold broke through a significant resistance level on Thursday night.
Producers did OK but sentiment fell further. Strange times indeed.
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