nice entry point to go long and strong on gold and related shares. GG locks like a nice trade up to about 26 from here (30%) gain in a bout a week or two. today's action was a convincing shake out, imho...we will see...
keep your eye on spot gold / gold futures .. if $500 is cracked again to the upside most gold miners should do well but if the precious metal starts to crack and trend lower like crude oil did after $70-72 your precious metal longs will most likely continue any downmove
I can't believe it, someone is actually forecasting gold or gold shares to go higher! This is very strange as 95% of the market (including all the gold bulls) love nothing more than to call tops, tops, tops...... For those of you holding gold/gold shares for the long term, if/when the market sentiment shifts and almost nobody dares to call a top that's you big signal to get aggressive with liquidations.
speaking of overnight gold - what a nice pop going on at the moment - i have a question about the main gold market during the european morning hours - i am guessing it's the london bullion fixing process - also i guess the DGCX may become important... - or is there some sort of another inter-institution market... - i just wanted to know what is the main basis for the quotes on the ZG ecbot new electronic full size contract during these hours? i presume they are arbing off one of these markets - would appreciate any info.
sweet schwingaling...this has been a decent trade so far today, and i think it has staying power for more days to come.
wow, price action is stronger than i thought. patentently bullish...good chance we have a melt up from here in the gold stocks.