May 12th: Classy young gold miner with proven management and a long up-trending chart. All that the pain of the last few weeks has done is drive BTO.to/BGLPF down to support, within the channel. It can drift a bit lower and still remain 'normal', but B2 fits the profile of a company that stands to benefit by the expected rise in the 'real' price of gold. In fact, this dynamic puts the junior to smaller intermediate gold producers squarely in my favored niche for the times.
But these items should be bought right, not chased. The herd is not going to rationally compute what makes sense and what does not. The herd is going to sell things indiscriminately and with a warped sense of what inflation actually is. Inflation will be happening once again when most are convinced that a double dip recession or worse are all but a given.
Back to the chart, look for weekly RSI around 50. For my purposes, I am going to add a small amount to the existing position today to get BTO up to speed weighting-wise.
This chart accompanied the update:
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