Just wondering where the usual crowd was on Friday, that have been populating the LRC threads over the last week? I come to enjoy reading your banter from day to day, but Friday none of you were anywhere to be seen? Anyway I digress....
So late Thursday and early Friday we have some very impressive numbers pop up on the screen, exciting everyone beyond comprehension. At one point there was a 0.034 pre - open, but it did manage 0.033 breaking the resistance of 0.031, and heralding a new high for the year. But it was all to come to nothing and finished at 0.028.......I'll be honest I was just as miffed as most you.
But we have had a very strong week, finishing up almost everyday during the 4 straight down days on the ASX. But LRC had a weak day on Friday when the DOW was up 200. So now the DOW finished Friday night down 250....Our market overall on Monday will likely be down significantly. As for LRC?? I wonder??. Will the big boys come in and play their games, and push the SP up again, or merely support it? Or will it go down a few more flucs.
Now the DOW in real terms has NO real effect on LRC. But for the moment LRC is a speccy, and they usually get hurt in a downturn. BUT BUT BUT, US GOLD recovered from it's lows on Friday night to be only marginally down........and even better Aussie GOLD closed up (KABOOM).
Now we are not expecting news from LRC until later this month or even early December. So it's highly unlikely the SP will go up much further in absolute short term, but it should be enough to hold it firmly where it is.
These are just my thoughts.
Hope you are all having a good weekend.
Cheers
eMark
LRC Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
