Ventana Gold (VEN.to) down 1.5% at $9.47 and once again the morphine of denial makes everything all right for longs. After trading down to the low $8s this morning, VEN released a PR saying "nothing to do with us" and the stock actually traded up on the day for a moment, thanks to the soothing words of CEO Orr. Never mind that the unpredicable local government might find some-or-other reason to slap VEN down in the same way that it surprised the merry hell out of GSL this morning (well, according to the GSL official response they were surprised, but let's leave that one alone for the moment), because all you need to do with a bunch of lapdog longs (or in CompanySpeak "loyal and valued shareholders") is say "sshhh, relax, it's all going to be fine" and things calm down immediately. These fools still think Colombia is like a southern version of British Columbia.
Sierra Minerals (SIM.to) up 7.6% at $0.36. One we haven't checked in on for a while, SIM has made a bit of ground recently. Still not making much in the way of profits so far but always there with a "it's gonna be great soon, just you watch". So I watch. but I don't own.
Focus Ventures (FCV.v) up 2.1% at $0.48 after trading as low as 40c last week on the capitulation rush for the door. Still life in this stock, it seems.
Greystar Resources (GSL.to) down 41.9% at $3.78. The intrday chart for GSL is interesting, as it shows some pretty classic market pyschology.
Sierra Minerals (SIM.to) up 7.6% at $0.36. One we haven't checked in on for a while, SIM has made a bit of ground recently. Still not making much in the way of profits so far but always there with a "it's gonna be great soon, just you watch". So I watch. but I don't own.
Focus Ventures (FCV.v) up 2.1% at $0.48 after trading as low as 40c last week on the capitulation rush for the door. Still life in this stock, it seems.
Greystar Resources (GSL.to) down 41.9% at $3.78. The intrday chart for GSL is interesting, as it shows some pretty classic market pyschology.
first we have "oh my god we're all gonna die!!!" at the opening bell.- then we have "it can't be that bad!" and the stock gets bought up on the dead cat bounce.
- now we have the inevitable "oh crap, it really is that bad" selloff. By the way, residual value on GSL is around $1.50 a share. I think you'll need to remember that number going forward if you feel like trading this stock.
Denial is not just a river in Egypt.