A couple of big seller (underwriters) selling off 14,000,000 shares from the 23rd of March has killed any momentum for now and will do until the 1st gold pour improving volume by being in line with or better than forecast.
or else at normal volumes for the next 5-6 weeks, we will see WWF share price smack down, just like the wrestling we know it's not real, but watch in vein. I think this SP smack down is scaring off potential newbies at this critical SP growth time.
I also think they (the underwriters) would be better to let the price recover a bit, they are shooting themselves and everyone else in the foot short term.
They could let the SP rise build momentum then drop all the way back to .22c, but that is also not pretty, they would probably trigger stop loss sells even lower.
I would not be surprised if the underwriters who are making 10% + so far on sales, that once they get to the last few 2-3m shares they sell them below cost .22c to clear their books, having recouped the money or down to there being the cream on the cake.
This is a golden opportunity for any buyers, at an un natural discount, in fact I topped up with 40k more.
From experience producers do tend to gain with gold price, not yet producers don't so much.
My Rant for the day! Follows
Who knows if Greece finally declares the obvious, or when the inevitable bond market rout begins we could get a nice kick start.
Any FED rate rise wont be much or any time soon, but the over reaction to it RE Gold price will happen short term, followed by all that borrowed money at 0% deserting the bubble of all bubbles in the DOW, where fundamentals have gone out the window, with share buy backs giving the illusion of rising stock price and last minuet profit forecast revisions down artificially give the illusion companies met expectation.
I saw an interview with a safety deposit company manager where the interviewee was asked what do people store and the he replied that the, dumb people who think they are protecting their wealth are actually storing cash, the smarter ones are storing jewellery and gold.
Can you believe it, a couple of countries are going and talking about going cashless altogether (Nordic and UK), what a strike against liberty that would be, one wont even have the option of storing cash under the mattress for safe keeping, the bank will already have its grubby paws on it and have a field day by having all that cash to fractional reserve or restrict withdrawals to stop runs.
The mother of all to big to fail scenarios.
Though this would bring a wind fall in under the counter black economy cash deals likely being much harder and more cash in the bank.
I can only see such a move driving many mum and dad citizens to store the wealth in easily liquidated wealth storing assets instead, like jewellery, gold or silver or using alternative currency like Bitcoin.
Plus all that cash would just get fractional reserved making the bank less able to cope, with a small fraction of its depositors wanting the wealth else where.
Though without actually having cash to issue how does one know if the bank can supply it, in a solvent state? or isn't delaying transactions (clearing) to juggle the books.
Now that would be counter productive to the US$ creating demand for Gold , I don't think they thought of that.
Wake up people in Europe, the next step will be a camera in your toilet paper so they can see if you are hiding anything up there. Followed by out lawing the physical possession of gold, gems, jewellery and the like.
The way that big business is and has, been hijacking democracy and our freedom's is making my blood boil.
It is without doubt way beyond a joke!
We need to break up these big banks, ban lobby groups, plus political and other donations to serving and Ex politicians.
I would rather see a set amount of money go to each party from taxes for elections and that is it.
As is big business if not owns the government, holds it to ransom along with us all.
Save us or you bank deposit is gone, "it already is gone" you fractional reserved it and cant supply cash.
ABU Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
(20min delay)