I don't think there is anything new in my musings below - its...

I don't think there is anything new in my musings below - its how I see things and many of you will be of a similar opinion.

When there is no obvious driver for a change in sentiment in regard to a set of stocks, in this case those with exposure to the Pilbara gold story, it seems to me that there are a significant number of people reacting to momentum. If things are on the up, they will chase it higher, and conversely, if things are no longer rising, they will chase it lower. I don't think it means anything in particular, unless it means that you have made or lost a motza. There are no obvious changes to the underlying story for the sector or the individual stocks.

The flock of birds or the shoal of fish flitting up and own, left and right are the obvious metaphors for me. There isn't always an obvious reason for the change in direction, but it is quick.

There is often excitement when an junior explorer commences a drill program, especially in a very highly prospective area (aren't they always highly prospective?). The pile-on money accumulates and pushes the stock up well in advance of the drilling or any other fundamentals and this money is easily spooked. This fickle money can easily be taken out of one stock for a punt on another. That's what I think is going on here.

At some point as the drilling approaches and then as we wait for the results - that glorious suspension for 3 days due to a price sensitive announcement of the drilling results - the sentiment will swing, a bit of FOMO will kick in, and this stock will surge up. My guess is that when this surge (or surges) occurs, it will go higher than the recent highs of around 7 cents. To me, that is a near guaranteed 100% gain from the current price and then sky's the limit thereafter on good results.

I'm happy to hold and ride the roller-coaster, but if the dip is much deeper, I will be topping up or even doubling up.

Cheers,