"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, January 10, 2012

Markets can be cruel... PVG

Pretium Resources will be debuting under its new US (NYSE) symbol PVG in a couple days, apparently at all time highs. 

Happily, I remain aboard because I chose to ignore the terrible looking state of the chart at the end of November.  This is the strength that understanding a company can give you despite seemingly crazy market activity.  I would have simply bought more had it continued to decline.

Look at that; they took it down hard right into major resource update news that changed the game.   It shows that charts are not to be taken 100% literally at all times in a rigged market.  They are a tool.

















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