Who’d have thought that an African gold miner named after a sweet Italian liqueur* would be doing this (+12% today) during a correction for the gold stock sector? Per the Trade Log and NFTRH reports I bought GAU at the noted support area before it broke the wedge, with the expectation that it could have a bit lower to go.
Well, today’s activity (and mystery volume) is an argument that it has already bottomed. It’s a stock that had begun to establish a daily chart uptrend off of a weekly chart bottoming situation before the sector correction kicked in. Now it could be an early bird with regard to exiting said correction.
The only time in my life I’ve had Galliano was at Poor Red’s in Placerville AKA Hang Town AKA the foothills to the Sierra Nevada AKA gold rush country. Twice have I been lucky enough to pull up a stool at this dive and partake in their Golden Cadillac. Several Golden Cadillacs, actually.
Here is the famous (or should be famous) drink with Galliano its main ingredient.
Incidentally, my visits to Poor Red’s were before the 2016 renovations. That’s important when you’re talkin’ dive bars.
* Yes yes, I am aware that Galiano Gold got the spelling of its own name wrong! :-)
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