GGY 2.41% 8.1¢ glengarry resources limited

a wee bit oversold at these levels

  1. 992 Posts.
    Today was quite dissapointing but considering most of the day the SP hovered around 12.5 to 13c and sellers were reluctant to sell below 12.5c.

    In the last half an hour of trade i thought we were gonna get a dragonfly doji close but that idea was blown outta the question as the panic/impatient sellers came to the party and spoilt the fun.

    Taking on board that there are so many factors outside of investors/company over the past few day i dont blame people selling out.

    1. Its Friday, normal profit taking before the weekend.

    2. Last day of the Financial year so people closing positions, taking profits/Losses.

    3. Fed Reserve news overnight.

    4. Current world market volatility

    5. Tree shaking and Accumulation of shares taking place.

    6. Majority of spec U stocks were in the red today.

    7. Uncertainty on the direction in which the US market will go tonight.

    8. Talks of the teddy bears having their picnics this week.

    Hopefully the US market does not choke again tonight like it has done over the past few night. I sense some news and a potential rebound coming in the next week, so will not give up my parcel unless it hits my target.
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