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.
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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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