Alright, we need to establish some dialogue at a time like this. My current thoughts.....
Technical:
- It's fallen through the bottom Bollinger band, thus we can expect at least a short-term bounce to bring it back inside.
- Stochastics are way oversold and are about to cross, giving even more weight to a bounce.
- Having said that, charts of all speculative stocks get completely butchered when the market experiences a 10% drop like we currently just have.
Fundamental:
- Once the market is informed of tenement approval and exploration drilling begins, this will be priced in and we will see a strong upwards trend establishing again.
- Chairman Chris Catlow [& associates] bought $1M at 80c, and his 12-month remuneration package is also heavily incentivised to hold the share prices above at least $1.25.
- The potential value of this project will not be overlooked by the market. It over-reacted to the proposed mining tax (which won't happen), and was then sold off further due to overseas market fluctuations (which is perfectly understandable no matter how illogical). The funny thing is even if the proposed mining tax was to be approved, a company like GOT would actually benefit from it (read the proposal carefully).
Sentiment:
- Technicals and Fundamentals go completely out the window in times like this when fear takes complete grip of world markets. It's irrational and illogical but it represents an enormous opportunity for those who missed the start of the bull market in March 2009. And as that taught us, people will still eat, live and spend. A new wave of wealth will be created for those smart and brave enough this time around.
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- interesting times ahead
interesting times ahead
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