I was golfing with my Stock Broker yesterday afternoon and naturally we discussed the crazy action going on here. He basically said he was not surprised by the huge drop however he feels it was way over done. That's the problem now with all the day traders who become nervous nellies and start to freak-out when the stock drops as it did. What happens is a cascading effect that over does the sell off. It was the classic buy on rumour sell on news, just way over done.
I like the NR put out this morning because it does show the general public in more detail what is going on within the property. Not everybody has read the Hoov Report. One basher on the other board (and they have been hard at it over there) made a comment this morning "Oh, it's nuggety gold", what an idiot. Then he says "well its about time the company came clean about nuggety gold", hello, jerk face. Just to point out that alot of people get spooked with false information being posted. Some even were saying Mr. Dourin sold his shares that he bought last week.
I haven't sold one share, and like many, it's crazy looking at the paper loss, but that is all it is. My broker says, if this is for real and he thinks it is, our SP is going to go way way up.
One more thing, I looked at alot of the junior gold explorco's that I follow and noticed alot of them started their day yesterday way down and some finished way down for the day, so it's not just GNH that has been hit hard.
Skier
