I'd say those that haven't already been covering like mad will be closing their positions quick smart.
A good amount of the recent buying pressure may be from shorters covering lately. If so , we're likely to see much higher prices from here, as there is still a good swag being short sold (and getting smoked). Also, its fairly clear that we have a lot of new money coming into the stock via fund-based buying.
Gold had one of the most convincing sessions in months last night and the overseas gold equities rallied hard.
Everything is starting to line up nicely for PIR here and I wouldn't be surprised to see the share price back up around the $2 mark in short order.
That chart is looking more like Andean every day ....take note...
PIR Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
