@chotachetan is a nice guy.
He likes to portray things in a dramatic way just as the guy from Hangover movies(In his profile logo)
I'm sure he is a sharp guy.
As I expected the price has now come to a very good level of 51-55c.
I don't think SLR should go to teens, I don't even think it should go below 45c in the worst case scenario.
But the market makers can do anything. While they are doing there thing valuation of a business goes out of the window. SLR should have never visited 35c in March 18 when the gold price was USD $1300+ and AUD $ 1700+. Now looks like there is an attempt ongoing to break 50c. My take is if the gold price hovers around this level( making it look like 1200 is going to break any night), then they might be successful in pushing it below 50c.
I would buy this level but looking back past memory....these market makers like to exert tremendous pain before any turnaround. SLR has held very strong so far and only started to falter in the past few days.
I'll wait for a better entry point if it comes.
@pezsaz, How you handling this pullback ??
I am suffering with my other goldies position, all taking a substantial hit.
All of them butchered.
