GDN 0.00% 1.7¢ golden state resources limited

gold spec. revving up

  1. 749 Posts.
    Golden State Resources is a great little gold stock that's been gunning the engine recently. It has just broken .04 cents this morning on relatively strong volume.

    Its only drawback has been its lack of liquidity which allows it to be manipulated. So often we see the same number of shares bought and then re-sold at the same price to keep a floor under the price or indicate buyer interest that isn't really there. Increased volume this morning however may indicate genuine interest in a spec. stock with a history of massive upward movement (hit 52 cents in 2000 - i.e. potentially a ten-bagger if history repeats itself). Cath Davey on Investorweb has flagged exactly this possibility based on TA.

    I'm not strong on TA myself but believe a bull market for gold will soon render price manipulation on small stocks impotent as buy volume swells and stocks like GDN go for a long overdue canter.

    These small speccies try your patience at times but when they do shift they frequently go in multiples. GDN has the chart history - and good ore tenements. The small fillip yeserday and today may have even presaged the beginning of its run - although we've been here so many times before. If it kicks strongly above .04 cents on decent volume it could get very interesting.

    Just musing out loud. Do your own research. Anyone else following? Good luck to all.

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