Loading ...Novo and Garibaldi
Look at these 2 charts….Similarity is striking !
After eons of flattitude …Both went Parabolic starting in July and Topped in October .
Novo was over a 10 bagger GGI went up an incomprehensible 2500 % .
The One on the left is in North Western Australia ( where its hotter than hell) and has been said to perhaps be the Largest Gold Discovery in over 100 years
The One on the Right is in North Western Canada ( where its colder than hell) and has been said to perhaps be the Largest Base Metals Discovery since Voisey’s Bay.
Lots of Hope and Hype . Novo has one of the worlds most respected Gold Geologists promoting it . Garibaldi has one of the worlds most respected Nickle Geologist promoting it.
Clearly …in hindsight…these two stories had an initial mania based on what looks promising on the surface.
Now reality has set in…it will take some time ( a lot of it) to prove the theories.
What is most interesting is BOTH these stories from opposite sides of the planet took off and crashed at the same time !
Co Incidence ?
Heavy Sprott investment was the common denominator in the two.
They both look to me like they need to range-trade for a while to let the long averages catch up with the current price (assuming there’s no terrible news that completely invalidates the early enthusiasm). Especially given the state of the commodities market right now, which being early bull stage( presumably) isn’t going to lend itself to the wild enthusiasm of say the DOW or Bitcoin. So Novo in particular looks to be near the point where it could be speculatively played for a bounce, since the range (assuming this pattern holds out) would give a nice potential upside of around 8 – nice return for a range-trade! I don’t see any obvious support for GGI, so harder to guess what might happen there.
I was just listening to Marin Katusa at the SF Au and Ag Summit. He mentioned Northn Dynasty’s performance last year.
These two look to me like Northern Dynasty at the end of 2016.
Strictly I should say like Northn Dymasty in about April or May 2017 after the 10x gain, blow off and drop.
I always wonder what to do after pops like these…
OK here is a quick comparison chart.
http://1000gold.blogspot.co.uk/2017/11/northern-dynasty-chart-compared-with.html
Does anybody have a 5 year chart of a stock that did this 5 years ago? Is there a “typical” outcome? I guess probably not.
That NEWS release NOVO let out a few days ago didn’t help either IMO. Just the facts and only the facts cut all the unnecessary adjectives and get to the point. Either hire a PR editor or this will happen again IMO. But hey maybe they want to shake everybody out?