today was a massive drop. LGL is just saying this to the...

today was a massive drop. LGL is just saying this to the market.


1. I keep promising to overdeliver achieve. i need to produce 500K ounces in the next half year to keep true to my expecations. the market sees this as highly unlikely. 1st half was 316K so another problem at the site will see me fail to achieve.

2. gold is falling and has been since mid july and so i will continue to do so. HUI XAU indicators just get smashed everynight in the US. The fear of gold dropping overnight has me getting sold off that extra 1 - 2 % at the close of each day.

3. Fear dominates the world, the commodity markets are going into oversupply, growth is stalling demand is going to dry up, recession may come, $US being intervened by fed bank to keep the financial system alive, Banks going under but still being rescued, nothing seems to crash that $US and let gold fly.

4.fund managers just don't know how to make money in this bull market so they lend our stock as well as intitutions lend it to hedge funds to destroy the stock and buy it back cheaper, an engineered way to profit in bad times at retail investors expense.

ok enough said...........................................

what you need to question?

is it worth keeping? look at the chart, it hasn't gone nowhere for years, just flat other peers in the sector are no better off, SGX is flat like NCM is just as bad whilst others like SBM have collapsed.

this will continue to get smashed until they say gold will test $850's but accept $830's then watch how quickly you see news headlines change like the wind and short positions covered. the economy will all be good again and up it goes but to its resistance target of $3 ish.

no matter how much gold rises and oil costs will temporarily fall profits will be higher then its all about production numbers.

i say you need the balls to buy 3 times as much at $2-$2.25 to be safe and make a tidy 40% return selling next feb.

this will make up for your losses from buying in the $3-$4 range.

at the end of the day you break even and It wasn't even worth the risk or excercise. Just to think you thought you could profit from gold going from $600 to $1100 in 2 years.

this is the experience you get from life that teaches you never to trust and play the market ever again. You always win some but lose more, then risk more to make it all back then think it wasn't worth it but the experience.

and remember a war is on its way too!!!!!!

good luck everyone, welcome to august the best time of the year to buy !!!