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Gold drifted lower yesterday, mainly due to lower oil and relaxed traders(those that were overhyped and worried last week) However, it is breaking out of an intraday base, at 556 now, so I'm not too worried. NEM and RGLD may be further buys, as I believe gold stocks will rebound strongly in the next few days. The general market is bullish, Nasdaq broke out of a short term base, which signals more upside for the market in the next few days/weeks. Cruise control now , just need to adhere to sell rules, it's pretty much hold for everything else.
RGLD and NEM will correct when the time comes. Then it'll be a 30% or 50% gain. I like PAAS as well. Silver is GREAT! New highs, and PAAS double bottom. I like oil as well. EPEX seems like a viable stock. NTES looks ok as well, breaking above the right Shoulder of an H&S, bull.
NYX. http://advisor.investopedia.com/news/06/Now_You_Can_Own_a_Part_of_the_NYSE.aspx?ad=IA_Blog_022806_1 Strong bull! Coming March 8
I'm not sure what to say to readers of this thread, since I've been totally wrong on gold and oil in the past few days. And I was 50% invested in gold, so that was a pretty big hit to my real money portfolio. ....
im still sticking with my bull on gold - the fed will overtighten providing an exit from our commodity positions.
I noticed that cut losses cut losses asap. The TA when you entered that trade was terrible as well, no idea why you went long on nem when it piereced a low.
It was me being stupid I suppose, I figured NEM would rally when gold prices rallied, as they did... Sometimes we just have a blind spot about what's important because we know a whole lot more about something else...