The whole complex sold off this week -- not just a handful of stocks, but everything.
Excuses: the PP this week (for Pretium specifically), Options expiry, First Notice Day, hedge funds liquidating to cover losses from leveraged positions in AAPL, "seasonality," debt-ceiling-can-kicking mistaken for "recovery," rising S&P construed as "recovery," Obama inauguration euphoria, smile-and-the-world-smiles-with-you prattle (e.g., from the Davos forum), JPM, COMEX, bullion bank hijinks, ETF hijinks, HFT hijinks, central bank paper-propping, add yours here:__________.
The technicals are still weak. Whatever you want to blame this on, it isn't finished.
I for one am tired of waiting though, so started buying again this morning -- filled half of my orders. The fundamentals remain. The paper chase continues.
Oversold Conditions For Pretium Resources (Forbes, 25-Jan)