KCN is just following Gold miners sentiment. If you read the following 2 essays by Scott Wright he explains that since Jan 2011 where Gold has risen 17%
Major Gold Producers are down 18% (eg Barrick, etc)
Small cap producers are down 40% (KCN would be here)
Explorers are down 49%
Gold stocks are way oversold compared to the POG and sooner or later something has to give. The HUI/Gold ratio is something like 0.28 where for the 2003-2008 period it averaged 0.51. This means Gold stocks must increase something like 80% to get back to the previous HUI/Gold ratio (or Gold would have to fall to around $900)
http://www.zealllc.com/2012/jnrexpld.htm
http://www.zealllc.com/2012/hgrpanic.htm
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$1.55 |
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Mkt cap ! $399.5M |
Open | High | Low | Value | Volume |
$1.57 | $1.58 | $1.53 | $965.6K | 623.9K |
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No. | Vol. | Price($) |
---|---|---|
1 | 2267 | $1.55 |
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Price($) | Vol. | No. |
---|---|---|
$1.55 | 15633 | 1 |
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No. | Vol. | Price($) |
---|---|---|
1 | 2267 | 1.545 |
1 | 5000 | 1.540 |
1 | 8061 | 1.535 |
4 | 19368 | 1.530 |
1 | 3394 | 1.525 |
Price($) | Vol. | No. |
---|---|---|
1.550 | 15633 | 1 |
1.555 | 3394 | 1 |
1.560 | 13394 | 2 |
1.590 | 2500 | 1 |
1.600 | 3325 | 2 |
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