if there are any shorts left my guess is that they'll be covering today or face getting smashed. Just my view.
All the gold stocks have pulled back heavily. Unfortunately our stock market has become a short term traders market with most traders jumping ship all at once regardless of fundamentals. Short term traders ride a story like IGR up until production and as soon as it peaks dump, get out and look for the next. I've seen this with a number of other greatly quality companys. TGS is another great example. (not trying to ramp here) but the same thing has happened. Hopefully as the fundamentals and the long term picture proves itself we get more long term Shareholders. Sorry for the rant but i'm shocked at how quickly the sentiment has turned on some companys and my view is that it is simply short term holders bailing all at once being helped by shorters taking advantage of fear. The stop losses kick in and the vicous down cycle excellerates for no change in the underling fundamentals. I mean if gold had pulled back $200, sure i can understand it. It's no wander a few people i know have thrown in the towel on the aussie market recently.
IGR Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
