Also, a lot of these gold stocks rallied hard yesterday.
My guess is that was caused by short covering before the Bernanke speech- just in case he said something to make gold rally hard.
He didn't, so those gold stocks have given up their gains today to be done just as strongly as they were up yesterday.
ABU didn't go up yesterday (no short covering on a stock that can't be shorted) so doesn't seem to need to go down today, but on a day that looks so bad for other gold stocks its no surprise to see the buyers pull back for now.
Some of those buyers will come back in trying to buy at 4.1, 4.2 or 4.3 when the market is in a better mood again.
There's a lot of psychology and herd mentality in the market and that gives us the volatility.
no noise on the eastern front, page-5
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Mkt cap ! $6.192M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 87415219 | 37 |
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