Yes. Ive been watching it all day
I bought some more at the bottom. (7.95)
I read thru the company news release.... it didn't sound all that bad to me. They have a plan to create the steady stream mining operation,its going fine, and theyre running maybe a month behind schedual, and they have some work to do to generate the next layers of drilling, etc.... Credit Suisse analyst looked at some production numbers and issued a bad report and really it seems to me like the company is doing its work correctly, every step along the way, and some things take time. This was a massive plunge and I wonder if it was way overblown.
I almost called the company but didn't. Maybe they will respond to this with some comments this week.
Last summer we saw PVG plunge in big downwaves, but it was because they had to pay expenses for the mine construction. Ok. that was a one off.
Do you think we will hear from management about today's price plunge.I wonder who did all this selling. I didn't sell any.
The Toronto market dropped. I think thats an orchestrated manipulation unrelated to PVG. my interest is focused on PVG. I don't care what the market is doing.or how they want to blame it on china 'sluggish industry' or whatever excuse they use. Its a rigged market. they will crash the market when they intend to, but Pretium has a hole in the ground with a lot of gold in it. I'm not scared of what happened. Its not like there was a mine disaster or a robbery by Mexican gangs,or permit denial by a court from a lawsuit. Maybe management can issue more clear explanation of their development plans so the public understands what the problems are. I didn't see anything alarming,but I'm not an expert.
On the technical chart, I had been watching the latest rally ,that climed to peak at 11.90, I saw that zone as a resistance target area (11.60-12.00) so I was ready to take some profit there, which I did a few weeks ago....On the technical chart ,I was anticipating a basic pullback to the 10 dollar area, that I sensed bias would sell down to make a greater downwave that might retest 9.70/9.50 area as a support zone for the big picture. The 9 dollar line was my main balance target zone for the whole chart. But we have seen big volatile moves in PVG, so its possible a downwave could target the 8.70/8.50 area. to watch for that area maybe in about 3 or 4 months if it took that long...... but what we got today was bizarre and hit 7.82. It plunged at the open to 9.30, then hit first station at 8.50. bounced to fail at 9 dollars, (the key balance line) and continued down to 7.82. In a normal pullback/downwave ,that might have taken 2 months, I would have been thrilled to buy at 8 dollars again. unless theres a catastrophic problem. Is there a catastrophic problem? I didn't see any mentioned in the release. This is an 18 year life expected mine.the gold is in the ground.
