Grandich Observations and Interview 9:00AM

Share on Facebook Tweet on Twitter

Posted by Peter Grandich

on Friday, 04 April 2014 06:05

• On March 7th, I suggested two shorting thoughts, DOG at $26.01 and PSQ $17.40 I mentioned that if anyone embraced this thought for themselves to hold back a fair sum for a run to new highs. I think it’s now time to let the other shoe drop. I would now add to those two positions (a few minutes after the opening) and be effectively short the maximum I could mentally and financially afford to lose.

• Despite what looks and feel like a universal dislike for gold and a trading pattern that continues to look like much more than just typical selling, gold remains constructively bullish. We’ll need to get pass the 11AM magical hour this morning (when it seems aggressive selling shows up right after the physical market worldwide shots down and the Crimex is all alone to do its thing) and close here or higher for a true sense we’re heading back to challenge the magical $1,400 level.

• My two personal holdings remain Sunridge Gold (which I can’t say much on at this time other than the shareholders agreement should be done by months-end and I don’t necessarily believe that’s what’s holding up any M & A activity) and Teranga Gold (which I would be all over at this price level). Please remember I’m a compensated consultant to SGC

• Here’s an interview I did last evening.