Gold and miners have taken a beating in this fake and manipulated market. This has been a hard trade for the gold bulls but in the end game gold I think will win. We see Ichan and Soros taking longs in this sector and physical and thus with the manipulated market I think these will move higher. I have placed a stop at bottom of gap and that is about 3.00 risk so need a 6:++ move to get 2:1 but with long term good potential here
Levels are kinda working here indeed. As it retracted now, what do you think?
A-shot
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I was about to send it to you! But then again, what is your opinion on Gold on general. CNBC says gold is overbought.
PS - also, why not ABX?
Vince
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CNBC I don't care what they say, gold is undervalued...but can't say short term, long term I think it goes much higher...this is just one of the stocks in the sector could be others
A-shot
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Soros is rumored to be back in the game buying gold though. NEW held ok today, although was down with the market after 2% up