I agree with what most people are saying here. But at the end of the day it comes down to our own circumstances. Some of us here topped up in the 20's last year so that's a good paper profit, but of course we all probably had higher averages before that. I'm just uneasy and probably overexposed to equities right now and concerned that the there's the old sell in May theory that could roost it's ugly head once again. Also not sure now after yesterday's inflation numbers we will see a rate cut, which could prove to see us lacking a bit of direction ST-MT.
But essentially it comes down to people who are underexposed to stocks vs the ones that aren't. For the former and in PGC's case it gives a lot of people opportunities to scoop up stocks on weakness. So yes I agree, but still cautionary more broadly, but not PGC specific. For the record I also think prospects are good and we are lucky to be in a sector that is also white hot, and one of few sectors where prices are actually rising, if we looked at the 5% increase in medical related figures (pharmaceuticals) yesterday. The only reason I thought about a stop was because of Caketin's lovely charts... But yes agree with what we are all saying here.
PGC Price at posting:
53.0¢ Sentiment: None Disclosure: Held
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