How to make a market GRL
close at 1.39 .. put out news and stack some big bids higher than the close
# Orders Shares Bid Ask Shares # Orders
1 10000 1.450 1.450 15300 4
1 75000 1.420 1.480 15300 1
1 50000 1.400 1.490 20000 2
1 5000 1.360 1.500 25000 3
1 10000 1.350 1.530 10000 1
/“There have been some comments this morning that due to this rally there has been substantial gold scrap selling in Asia. Meanwhile as you know, we have been telling you for a while that there have been substantial quantities of being sold here in North America. So now the market is starting to consider this as that maybe the actual owners of physical, metal dumping at these prices, may indicate an overbought condition from the investment side. Meanwhile, the only taker at these prices is the investment market where we can see record high stocks [positions]. Will this bear down to bring pressure on the price? Well that is hard to determine as that [recent] kind of inflow of money can continue to hold these prices at these artificially high levels.”…………….”Here we go **the public are the experts**…I think the opposite..when they are lined up to sell….buy ….when they are lined up to buy sell it to them?Isn’t that how a market works…Hard to believe these guys give advice?Could be wrong?Ron”
I’d agree. I have more experience with stocks but your theory holds there. Those in the know tend to buy from the public at the lows and sell to the public at the highs. Although we certainly aren’t at the lows I think it shows that we are going to see a nice run. I did some rough math awhile back and to back the federal budget with gold… gold would have to be worth about 6500/oz. I’m not saying we see that, but I think we’ve got to push that direction say to 2000/oz.
People are wondering why OLE is spinning its wheels. Here is one reason: “Often the heads of junior companies are geologists or engineers who have no relationships in the brokerage business. This lack of relationships impedes their ability to generate market support. Some of the most successful company builders in the gold-mining industry are what I call the “financial engineers” – people who have the relationships and understand the capital markets and who know how to hire the best geological and engineering teams. We tend to have more confidence investing in them.” (Frank Holmes, Investment Advisor.)
With no understanding of the relationship between drilling results, promotion and financing, management has squandered its opportunities and ended up raising money at ridiculously low prices. We will be fortunate if we receive a buy-out offer in the $2 range. I suspect it will be closer to $1.50.