This is an update to the last chart I published on GG. I think it makes sense to sell now as nerves are high on European banking issues and we have cleared the top of the last rally high. There is strong resistance just overhead here with the GAP labeled in a red circle. I will wait to short on a break of a previous day's low.
Comments
timwest
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The longer term forecast for GG has played out to some degree. It is possible now that GG is again oversold and ready for another trade on the long side. Don't marry this stock, however. It is more of a "dating" stock. Mon, Jan 23, 11:55AM EST
timwest
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GG rebounded in a big way after this last comment. I thought this was a good way to follow up on previous ideas. I hope all of you see these comments. Cheers. Tim 12:41PM EST, Mon, Jan 30, 2012
timwest
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The longer term projection is panning out. The tide turned on "safe-havens" perhaps or the market is correctly assessing the value of its low-return assets.