Monday, June 1, 2015

B2Gold: riddle me this

Here's BTG:

If gold was going to go down to $1050 in a final washout, then why would the market spend May buying up BTG, then only let it drop down to the Bollinger mean before buying it up again today? BTG isn't attractive at $1050 gold, what with all their share emissions to buy big properties that are going to eat cash for capex.

Any more strength, even a marginal higher high to mid-May, and the chart's threatened MACD crossover gets negated, and that will make the chart look nice. We'll see how this plays out.

Disclosure: I own some of this, but I own more Dalradian.

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