Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of US Gold Corp.
So what: Gold and silver are both down slightly today, but nothing to warrant a move like this. The dollar strengthened today, likely leading to gold's decline, but traders sent shares of US Gold 10% lower, continuing a downtrend for the stock.
Now what: In the absence of solid news from US Gold I'm inclined to chalk this up to a wild move from the market. Considering the downtrend in shares I'm not sure I would look at today as a bottom, unless we see some improvement in trading trends. I'll sit this move out and enjoy the view from the sidelines.
Interested in more info on US Gold? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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