yes there are a lot of people that feel like you right now about OGC. OGC is performing like a dog since the qtr end report and a few weeks before but is it a dog? Don't mistake the difference.
Remember the pullback from 3.50 to 2.60-2.70? what did it do after that?
Now we have a pullback from 4.05 to the 3.30-3.40s. There was one or more large motivated sellers lately. Did they want out by the end of the month for book keeping reasons? Did they want out because of concerns over QE2 (either already baked in or more conservative use of it going forward)? Are they thinking the POG is pulling back?
I don't have the answers to the why questions but POG seems to be showing some strength (bounces back quickly after moving down, trending a bit up now over the last while). The gold majors are going to see some P?E mulitple expansion in the near term (people lke Sprott are saying so). Growing midtier producers like OGC will see an even greater P/E expansion.
I have bought G, HGU and bought back some OGC over the last couple of days. Up 7% on the G and HGU. Sold some of the HGU to buy some OGC (I may be early on this but on the chance that it was a month end seller and that gold is grownig stronger, I thought I would take a chance). I hope all three continue up.
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
