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Randgold Resources Limited Message Board

  • skipaway Aug 15, 2013 9:38 PM Flag

    Hello boy we've had quite a run wouldn't you say!

    Personally iam starting to believe this has some more to go,going good I know that much.

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    • Hello Skip,
      At this price, gold miner stocks are priced as if most of them are about to shut the door and go bankrupt.
      It could happen of gold price continues to tank, but it can not tank much lower because when suppliers shut the door, that will cause supply to dry up and price will go up.
      What it means is that gold price will have to rebound. It's not whether it will rebound, it's when it will rebound.
      All indicators suggest that gold price has just rebound and could recover in a V shape pattern and we will soon see gold at new high again.
      The market action is like this:
      When prices going lower, people sell in panic to protect their gain. MOmentum takes over and potential buyes want to sit around and wait for it to continue dropping while sellers continue dumping . That makes price drops even further.
      Then at certain point, prices begin to stabliize and go back up. Momentum works the other way around and drive prices up further.
      If you go and watch people behaviors at an auction, you'll see that happen a lot.
      Auctioneers would open with a prce he thinks would attract most potential buyers. Usually the opening is lower than what he wants the item to be sold for and let people bid against each other, but if no one makes the first bid, the auctioneer will lower the price. He will continue to lowe it until the first bid, then people will begin to bid against each other and drive the price up.
      That's what we are seeing on gold stocks in the past few days.
      There are still a lot of people sitting on the side line and will jump in soon.
      holystocks dodkom

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