If the phrases 'Buy when there's blood in the streets' or 'Be...

If the phrases 'Buy when there's blood in the streets' or 'Be greedy when others are fearful....' were ever relevant, then it's now IMHO.

IDC closed at a new record low today (4c), 20% cheaper than the price quoted at the open yesterday. Compare that to majority of Aussie Gold stocks moving higher today (XGD posted a slight gain despite NCM's fall)

IDC Market cap now at $33.6mil.
Trading at @60% discount to net asset value.
EV/Resource Oz @$15 based on old resource by my own calculation.

Bot at work all day on IDC.
Then a 1 mil+ unit seller came in late afternoon at 4.1c, but sold lower after market closed & wiped out the relatively large bids at the closing price. Note the higher than usual volume on the 2 year daily chart (below).

The chart below also shows today's price action meeting the bottom (support) of the long term declining channel. Price has also approached a more recent declining support (formerly resistance) line and the 2 lines interestingly intersect at @4c. Note also the low RSI and stochastics readings, as well as the price almost touching the lower bollinger band. These are all signs that the current price has overextended to the downside IMO.

Meanwhile, gold is rallying. Currently @$1257 as I write (4 day high).

A few points worth considering:

1: IDC now 80% discount to list price of 20c, almost 90% below all time high of 39.5c.

2: Current market cap is only slightly more than the price paid for acquiring Summit/Mt. Kare.

3: Gold Shares Relative to Gold at the Lowest Level in More Than 70 Years.

4: Gold remains well below long term averages relative to most other asset classes, especially compared to financial assets.

Note: My opinions and analysis are mine only and in no way am I offering advice of any kind. Please DYOR.