HoodlumI agree with what you write and would add a couple of...

Hoodlum

I agree with what you write and would add a couple of comments.

On 321gold, there is a Stockhouse article about potential rapid growth in Gold stocks. It's a bit hyped up, but the charts produced are pretty convincing as to upside potential.

IMO it is inevitable that Gold stocks will come back into favour again as they are doing now. Increased SP's, the occasional flyer such as SIR, takeovers and mergers, the market is becoming more interesting again.

Being in the finance industry, I have been to numerous presentations which unanimously predict further QE, the majority favouring this September.

All this being the case and with MYG closer to production and major announcements, there is an inevitability about the direction of the SP as it consolidates at this level, as long as the announcements are favourable.

The MYG of old would have slipped back on Friday trading, but not yesterday. So I agree with your last 2 paragraphs, except that upside might surprise if results are good and volume increases