The entire sector is washed out and most of this weeks destruction was due to swindlers not wanting to pay up on calls. If you look at KGC and GG you will see what is killing their prices. Calls at 47 and 50 for GG and at 15 and 16 for KGC. Both stocks have gone down on above average volume the last couple of days. There will be a good short covering rally on Monday if nothing happens over the weekend on the Greece front. I think the game players are counting on chickens not to want to be long over the weekend but I am going to buy up KGC and GG for a short term bounce tomorrow AM.
I have been accumulating KGC below 16 and also below 15 for the last two months and I am nowhere with that strategy so far. The stock is mired in quicksand but it's very profitable so it's being held down. That however cannot last, you can't keep a beachball underwater for too long. The people playing these games are doing it short term and making money off people who don't have the nuts to stick with their convictions. I feel no sorrow for people who start whining when the stock they bought went down, they sure chortle when it goes up, why should they whine if it goes down?
Anyway, I am not happy with the current miner performance and certainly didn't expect it but I have to think it's not sustainable.