A picture tell a thousand words
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A picture tell a thousand words
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It's all been done before, at the end of WW2.
SPDR Gold Fund down 3 tonnes yesterday.
US$127,314,000
Skol - you don't make money by being wise in hindsight.
Buy into Gold low (i.e. over the past week) to sell high later when resistance is confirmed.
And 'low' is not defined by those with vested interest talking down the PoG. It's defined by a mixture of fundamentals, technical analysis and momentum shifts to the upside...all of which are screaming loud and clear to those who are willing and able to filter out the white noise of market manipulators and media parrots.
I'm picking a 5% rise to my gold stocks today which if it happens will recover completely the paper losses I've been sitting on this past month (parise-G). Good things happen to those that wait watchfully.
It's not too late to come in on this wave, Skol - buy some precious metal diggers and enjoy the ride. OZL, OGC, PGI, AQG all look cheap.
BC
See this article on one analyst's view of what happened last night:
http://www.kitco.com/news/2013-10-17...se-Agency.html
Note in particular: "The news about the Chinese rating (downgrade) caused a spike from around $1,291 to $1,321, said Steve Scacalossi, director of global precious metals with TD Securities. “In the 11 minutes between $1,283 and $1,320.50, over 20,000 lots traded as CTAs (commodity trading advisers) bought heavily on the electronic platforms,” he said."
I just love the volitility that computerised trading brings to the game.
Yeah no TAPER this year they may have a crack early next year but I'd say there's a 50/50 chance they may even have to lift it higher on the back of less foreign investment buying US Debt(China the biggest holder of US debt...Nation credit rating firm just downgraded US debt) ....It's pretty simple for the US in a Marco sense More TAX less Spending which would take steps to Balance the budget and lower Deficits.... if they could do that with a clear goal to return to Surpluses that can be used to reduce Debt ...I'd be a BEARish PM's
Yeah no TAPER this year they may have a crack early next year but I'd say there's a 50/50 chance they may even have to lift it higher on the back of less foreign investment buying US Debt(China the biggest holder of US debt...Nation credit rating firm just downgraded US debt) ....It's pretty simple for the US in a Marco sense More TAX less Spending which would take steps to Balance the budget and lower Deficits.... if they could do that with a clear goal to return to Surpluses that can be used to reduce Debt ...I'd be a BEARish PM's
Thanks for the tips but no thanks, I like the lazy mans way to riches, property, and shares like SGP, DOW, MGR, ABC and IVC. The only share i trade on a regular basis is VAH.
Property in or near AKL is better than gold, lifestyle blocks near AKL reported today as up by 26.3% in the year to Sept.
OGC up 5% today, the rest look to be fizzers Bobcat.
The rest are bottoming, Skol, with good volume after some bad news / other selling pressure earlier this week. Sometime over the next couple of days is when to buy these stocks...as they start to lift again (I figure it could take you that long to muster the boldness to proceed).
I have not recommended to you stocks that were going to open 10% higher 'cause I don't like buying on a spike, and wouldn't recommend that you do.
If you'd like another medium term hold, check out PDN and/or ERA (Uranuim miners).
BC
Skol and others could have joined Moosie with a purchase of OGC at 160c late this afternoon. Nervous traders exiting after just a single day's bullish run.