Friday, August 8, 2014
Check for Rio Alto follow-through
Gold is weak, junior gold miners suck™, and yet:
I had thought there would be a flood of paper depressing the price as relieved Sulliden shareholders suddenly found themselves with paper that was worth something in a market where juniors are worth nothing. Instead, Rio is challenging its previous resistance at US$2.55. Also, there's buying interest on the US ticker.
I dunno if this is that magical "re-rating on no longer going out of business in 3 years" that we've all been talking about, but if so, I think I can wait for confirmation before jumping back into this.
Also I already made a whack of money on Rio back in June.
But anyway, the chart is worth paying attention to, moreso than most junior charts.