I sure hope so ;)But seriously, the recent and seemingly...

I sure hope so ;)

But seriously, the recent and seemingly relentless selldown to 2.3c has been on ever decreasing volume. Now it seems that selling has almost stopped.

The recent high of 3.8c is within the context of an all time low of 0.8c. Guess what? 2.3 c is exactly a 50% retrace from the recent high!!! Nice.

So with dwindling sellers combined with a 50% retrace AND a general market selloff it stands to reason that GCR is currently at support. After all it really took a lot of momentum to break through it in the first place!

Why is there no-one selling now (few anyway)? I think it's because GCR has stabilised itself (in corporate terms), has cash and a backer, and is ready to embark on an aggressive round of drilling. Meanwhile, the noises around Copper Hill seem to be getting louder everyday!

Despite hte selloff I am happy with the SP performance of late. It could have been worse as it has been in the past - but for now it would seem that the POG and POC are holding GCR up - that is market sentiment towards gold stocks is maturing (i.e. fewer speculative buy/sell fads).

Lets see how it all unfolds as we get into the summer season drill session.

Good luck guys.

GC