9.3 cents is ugly whichever way you look at it. Yes, selling pressure downwards IMO, but there must be a point where things turn around or go bust..
I have been heavily burnt before on MUN holdings and will sit on the sidelines watching for concrete evidence of increased profitability. Market sentiment seems against MUN atm, I'm looking for 8c floor but yes if the quarterly under-delivers (yet again), I'll probably re-evaluate that floor to below 6c.
I had ALL my life savings in MUN and it owes me big time, I pulled out November 2009 and I thank my lucky stars that I did, otherwise I would be having suicidal thoughts if I was still in MUN now.
Rising gold price does not have positive effects if sentiment is bad. MUN has to prove itself. I'm not going to risk a falling knive again... what money I have left is far too precious for that. But the gold story is a good one and I believe it will continue to be, look at SBM as an example, but ATM im not in gold stocks at all...
Watching closely though :-)
MUN Price at posting:
9.3¢ Sentiment: None Disclosure: Not Held
