Skol when this happens it will probably cost you $100000.00 to buy a sandwich.
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Skol when this happens it will probably cost you $100000.00 to buy a sandwich.
Gold is in a mania.
http://dealbook.nytimes.com/2011/08/...not-even-exist
Every stock in the ASX 20 up today except Newcrest Mining down .6%.
But surely we should be looking over more than a one-day window? Some goldies will have a difficult time while others do well. While I've been roasted once or twice over OGC and their downtrend on the back of a 20-bagger ramp up, they have just been admitted to the NZX50. So that's virtually a guarantee of a boost in SP until balance day at least. I think NCM have been looking overvalued for awhile, whereas OGC is undervalued. I have little doubt that many will be buying physical gold on any major dips in the meanwhile.
That's what the goldbugs call 'backing the truck up" EZ, go for it.
Hi El Zorro
Thanks for your reply:
"But surely we should be looking over more than a one-day window?"
Agreed.
I nearly commented in my earler post that I had compared NCM with the EFTS GOLD on the ASX in DB Supercharts over 3 yrs, 2yrs, 1yr, 6 mths, 3 mths and 1 month and NCM and GOLD with NEM on the NYSE.
I also compared NCM and GOLD on the ASX with NEM on the NYSE.
My broad brush review showed over 3 years NCM and GOLD share price were about even at +80%.
In shorter timeframes GOLD has soared compared with for example NCM the miner and NEM. Others have commented on this on CNBC etc ...
Regarding an OGC NCM comparison, I see what you mean, as NCM is about 40% more in SP growth over 1 year compared with OGC.
I have been watching gold for quite a while and its starting to look like an intermediate top may be in and will very
cautiously have a nibble from the short side with a target of 1500.
No mania JB? Check this out.
http://www.stuff.co.nz/world/america...nal-underworld
1500's a long way back, there is mention that this latest drop is profit-taking, the market covering losses elsewhere. http://www.kitco.com/reports/KitcoNe...0906JW_pm.html
Your strategy will work if the US$ continues to strengthen. At the moment it's close to the upper limit of its recent (trading) range. What if there's more QE?
Back the truck up all right, Gaddafi did: http://www.telegraph.co.uk/news/worl...-to-Niger.html