Geez only 35 hope to have a few more years in me yet,,,last check-up Doc said I was in great Athletic shape ...think are next bet should be on the Q.E IMHO there will still be one at the end of 2014
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Like clockwork the thursday sell-down then the tuesday rise ....side-ways movement PPT working well
Hands up got that one wrong, still think its only a few days away before we see a surge through $1350 to $1375ish. BOA & Gartman gone bullish, mind you Gartman has been about as reliable as Goldman lately. http://finance.yahoo.com/blogs/talki...194835583.html
The Thursday night thing comes from when I was trading gold & the amount of times we used to see a big rally on a Thursday for no real rhyme or reason. Another words there wasn't a big bit of news or event that sparked it, it was just unexplainable. I think to date on the Thursday night rally night calls its been something like 5 or 6 to 2 so not too bad a strike rate, although there will always be decenters. Not sure if that's exactly right, can't be bothered going back & checking it. Happy Friday all!
That may have been a mistake, Moosie. Don't be surprised if OGC close higher today. I'm picking 2.10 on the NZX (1.80-ish on the ASX), quite possibly higher. Either way, I'm not selling...yet. Planning to coincide my selling down of OGC with the next POG bounceback (which I'm picking for early next week).
BC
Yes now wish I held onto my OGC position and sold down another share ...but as the funds from the sale went to PGI 4.5c(sold 6-6.1c) and SOC 21.5c av (24.5c) I'm not too unhappy ....would have had far to much money on PM plays too....
-I see JPM in recent times has moved their gold futures position away from net short to now net long one of the only bankers to make the move of late while the rest of the mega trading trading banks still sit 2:1 ratio short to long......
http://www.3news.co.nz/NZ-dollar-sur...4/Default.aspx
More stimulus on the way; the flaccid eurozone needs some monetary viagra. Got to be good for gold in the long run.
I forgot about the usual sell off due to month-end profit taking. Technically, Bulls and Bears are actually still on a level playing field.
http://www.kitco.com/news/2013-10-31...lar-Rally.html
Telling signs of which take control through next week will be what happens around key support and resistance levels:
Key Support Levels : 1319, 1300 (break through both would mean Bears in control)
Key Resistance Levels: 1330, 1343, 1362 (break through all three would mean Bulls are in control).
Yeah Moosie, what's up with the market not playing along with a gentlemen's agreement made by bunch of Kiwis in the arse end of the financial world ! LOL
Portfolio holding up nicely considering gold in the last two days. Wouldn't be surprised to see it come off a bit later this arvo as is typical on a Friday arvo. Always a good time to pick up some cheap stock!