IMO it was the U sector that was the catalyst for the dump over the broader market. Markets have looked toppy for sometime now and this is all that was needed.
Producers would have held up ok I think, but juniours got punished like th rest of the market.
Its a shame because the MYG story is pretty darn good!!! Results soon too!?
I cashed out 80% of my portfolio today (including 33% mygoa - yes took a burn) as I think the US will us this as an excuse to dump just like everyone else. Plus there is an upside break on the VIX.....writing is on the wall BUT gold should be the stronghold!?
At least when you are cashed up you can more easily make your cash back off a low base from stocks you know the fundementals of, do not justify that sell off.
Good luck to holders and my thoughts and prayers are with the Japanese.
MYG Price at posting:
11.3¢ Sentiment: Hold Disclosure: Held
