SBM has merely been affected by being arguably the best gold stock on the ASX IMHO but pls DYOR. Plenty of FCF is one thing but gold sentiment will also weigh on a gold producer.
Gold sentiment is down due to the gap up from neutral in the S&P 500, the MACD is up and the correction into the 50 day exponential moving average means that gold stocks will be hit IMHO regardless of whether the $1265 per ounce level is flat traded or not.
The Administration's tax package especially the reduction in corporate tax to 15% and the tax break for multinationals prepared to put their offshore profits back into America have no chance of being enacted by the Senate let alone Congress.
A Government shutdown on April 29 might cause a gold price spike and gold futures sentiment to revert.
SBM Price at posting:
$2.55 Sentiment: Buy Disclosure: Held
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