There's now a red engulfing candle on the daily. I'd say this will be lucky to stay above 6 yet again at this point, by next week latest. About as bearish as it gets technically. Letwin MUST GO.

and here it comes...gap fill all the way back to 6.66. And lower??

Not sure where it'll close but at some point today ALL of yesterday's gain will be given back. Only a mere 17 cents, which can go in a blink with this POS.

All day long with the 6.66, machines were just fixated on keeping it at 6.65/6.66 all afternoon.

GDX is actually down with Gold flat. As far as IAG, I think this is just a continuation of last week's strength and it's petering out as can be seen. Someone keeps buying the dips but the normal weakness is starting to show through again, especially with the zombie market rising yet again (sell pgms hit golds per normal). It'll be interesting to see what tomorrow's action brings and of course, how it actually ends the day today. As far as I'm concerned, as long as Letwin is still CEO, NOTHING has changed.

I think this has GOT to be the most hated despised of all the miners I have ever seen. I truly believe the only thing that is going to do any good for shareholders is for the current CEO to go (in some form, fired by the board, buyout, takeover, etc.), especially after that BNN interview, my god, I don't even think HE wants the job anymore.

Pre-market volume 28700. Up 8 cents.
Unusual to see any significant pre-market activity but there you go.

I think investor sentiment MUST be at a crescendo low today. One can only hope THE most hostile of takeovers is in the works. I can't think of a better moment in time to persuade shareholders to take what ever is offered. I would think that once this thing is in the 5's, something in the 8-10 USD zone would probably get a majority YES vote.

From another board, someone indicated that Letwin will be on Canada's BNN this afternoon interviewed at PDAC in Toronto. 420pm. Undoubtedly more blather about unacceptable sp and otherworldly fantasies about the future POG, ad naseum.

RSI is 18 and change on the daily, 24.3 on weekly. You don't see that too often. I wonder how low it will go this week. Pretty good volume today on a 4% drop but all previous capitulation calls have been premature. I think the funds/tutes might be concerned that the cost cutting measure is all that's gonna happen for shareholders from this group, ie, no divvy, no buyback. so they're voting with feet.

Retail shareholders are pretty much used to seeing $500, $800-multiple thousands of dollar drops on a daily basis in their cash accounts for the past several weeks due to this dog, but I imagine there have been some VERY painful margin calls also.

Maybe at this point the guy has simply given up and this is a way to get the price in the takeover wheelhouse. One can only hope for that at this juncture.

Oh, and it's beating NUGT again to the downside.

I find the CEO's silence at this point remarkable what with IAG getting sent into the abyss today at almost the same rate as NUGT, the Direxion Daily Gold Miners Bull 3X Shrs.

My spidy senses are starting to feel like something is coming, as in Iamgold is going to cease as the company as we knew it, and/or the CEO is going to get thrown out, soon.

Certainly the rate at which this thing has been selling, above and beyond its peers to the downside, seems to indicate something further is coming, what exactly that is, remains to be seen.

All my opinion and I could be dead wrong.

I pretty much assume that it will get well into the 6's. In all honesty I think 6's will hold. I mean it's trading at this point 20% below liquidation value. If Letwin is going to do a buyback maybe he's waiting for another self-generated shoe to drop (like an announcement--OMG---of newly calculated all-in costs, which seem to be the shareholder killing flavor of the day).

I CAN'T TAKE IT ANYMORE!!
SOMEONE PLEASE BUY THIS COMPANY AND GET RID OF THESE CLOWNS!!

Gold is up 18 dollars and this unfreekingbeeleevably underperforming company can't even maintain a PENNY GAIN!
A PENNY!!

I guess it's because it had its "up" day yesterday and the bots aren't programmed for more than one in a 2 week period.

Sorry to rant I just can't believe I am still seeing this stock price after several weeks ago the "CEO" said he thought the stock was undervalued and had been contemplating shareholder friendly initiatives like buyback/divvy increase/change, etc.

I hope the institutions are at the end of their ropes too and DEMAND something soon.

LETWIN: DO SOMETHING FOR SHAREHOLDERS NOW!!! even if it doesn't solve anything, at least you tried!

I think one can only hope that they'll get taken out for some reasonable premium at this point either hostile or friendly. I don't trust them to make any acquisition(s) themselves, as this current CEO has only proven that he can decimate the share price and the street obviously has written him and his co off, as can be seen by the latest even lower PT's.

Is it just me or is "risk on" now including a stronger dollar and higher interest rates? Or is that just the red herring headline that everyone likes looking at currently? Certainly in every gold discussion I've been reading lately, those two things, stronger dollar and higher interest rates, are suddenly the harbingers of a higher and higher stock market and lower and lower gold.

Unreal...the DUST ETF is starting to remind me of AAPL on steroids. Just higher and higher and higher...

Having to break out the 5 year charts to see if there's any support anywhere. 3 and change in Oct 08 was the bottom before. I would have to hope that this team is taken out well before that. They're obviously useless.

I just look at a stock like IAG (use just about any miner) and compare its price to where POG was, say, 3 years ago:

Mar/Apr 10

POG 1100 area
IAG 13 and change.

Today

POG 1635
IAG 8 and change

That tells me that any correlation btw gold and miners is now an almost completely broken relationship and the market has "divorced" the miners in relation to POG.

Too bad, as some of the charts and balance sheets are beautiful textbook cases of oversold and undervalued...but it just doesn't matter anymore, the hedgies/funds/tutes have moved on and simply use the miners now for liquidity/short-term bounces and re-shorts.

Hopefully Letwin does something material very soon. If he doesn't, the stock is going to simply drift back down below 8 again. Deep down I believe that something far stronger than what he is proposing is needed for shareholders in this co, i.e., a change in leadership iow a takeover/merger, etc. I think, although he hasn't been at the helm very long, in this day and age, patience is pretty much non-existent for under-performers like IAG and any patience from the large stockholders is now gone.

OT FYI: Iamgold Weighing Buyback, Extra Dividend as Expansion
Curbed

http://www.bloomberg.com/news/2013-02-07/iamgold-weighing-buyback-special-dividend-as-expansion-curbed.html

Iamgold Weighing Buyback, Extra Dividend as Expansion Curbed

http://www.bloomberg.com/news/2013-02-07/iamgold-weighing-buyback-special-dividend-as-expansion-curbed.html

I'm pretty sure a co can make a request to its respective market (NASDAQ/TSX) for its shares to be halted for whatever reason, but, not sure why you're asking this.

As far as a buyout or hostile/friendly takeover/private equity, etc., we won't know until it happens. Those are the kind of actions that are kept under tight control until it's PR time. That's not to say that someone might know something but whatever.

From that opinion piece from the globe and mail that I posted, I guess there's as good a chance as any that the large shareholders will get impatient enough to attempt some kind of action especially at this depressed price level. I realize at the same time, as do they that the whole mining sector has been beaten down and it's not only the cost re-statement issue that is affecting the price of IAG.

And it got to below 8USD due to the days of selling and subsequent multiple downgrades after the cost re-statement in Jan.

Stock to watch: Iamgold could be ripe for takeover

Wondering if this is a real possibility. Any comments?

http://www.theglobeandmail.com/globe-investor/inside-the-market/stock-to-watch-iamgold-could-be-ripe-for-takeover/article8208630/

Forgot one: GDX and GDXJ fall when Gold and Silver goes up.

OK, one more: GDX and GDXJ fall regardless of what any other market element does.

Wow, what a miserable underperforming stock. Where's a...buyback, dividend, insider purchase, anything to indicate ANY sort of shareholder proactiveness. Just waiting to find out what someone knows and why the selling never ends.

Looks like Jefferies has reiterated PPS tgt of 55.00

http://www.streetinsider.com/Analyst+Comments/Jefferies+Reiterates+Buy+on+Westport+Innovations+%28WPRT%29,+Sees+Opportunity+in+China/7753790.html

Seeing some demand coming in on the 5 minute chart. First strength, although tepid, I've seen in quite a while. Might be just another headfake but someone is fighting off the selling every time it starts to dip again. Seeing the identical thing on the 5 minute ES-Mini too: dip, buy, dip, buy. Stay tuned.

He also said it's news-driven. I think a lot of people have gotten into this stock on a technical basis only to be stopped out as it doesn't seem to respond to ta-oversold at all. All metrics are screaming oversold but it just erodes down further every day.

Shorts are simply hammering this thing. They're in the "power zone" now and probably believe they can get it to 22 again. Co is silent as usual.

Alphatrade NASDAQ problems?

I can't get any NAZ feed on Alphatrade. Anyone else having the same problem?

NSU:: Long time coming for the breakout. Nice to see some bullishness finally.

NSU--got it Thanks!

NSU- |nothing coming up. Can you copy and paste?

NSU 4.27. Chart is ready. Look at that MACD.

Chart is sweet and ready for a big move up. Look at that MACD.

DEXO 1.83 Golden Cross Alert

TSYS 2.88 RSI in Power Zone!

The algos are fighting the extremely overbought one hour SPY chart that is ready to fall off the cliff as all indicators are peaking. They're fighting and fighting with dumb money to keep it alive. TVIX should make an explosive move up whenever they give up and go short.

I should add that the exact opposite is happening in the 1 hour TVIX chart as it is indicating extreme oversold with indicators popping their noses upward looking for air.

Looks like some short covering going on today. Way, way, way undervalued and oversold.

ASIA 8.30. Shorts starting to cover?