oversold?, page-6

Fishhead..fair point, but the topic here is OGC and not other stocks we may be holding.

Simple fact that i am posting without being holder suggests that I am watching this closely from a technical point of view.

So far I can't see that things have stablised and reversed from a charts point of view.

Then add the murkiness of Didipio issues (real or otherwise). Then add that personally I have been neutral to negative on POG for at least 2 months (i exited all my goldies over the past 3 months, except for one newly listed play).

Stocks can stay oversold for an extended period.

OGC dropped another 16 cents overnight on the TSX.

So there is a fair chance the $2.53 gap will get closed today.

As for POG, last two night's action was not good technically. Firstly last night produced an outside day on the daily chart and secondly a head and shoulders reversal is evident.

There is alot to be cautious about at this point in time, hence my comment, "Better to stay on the sidlines, than second guess a safe entry point".