eventhough dollar has made up 1/2 the losses from Tuesday, gold has not lost 1/2 the gains. This being said, as the dollar tops this run between now and Wednesday (JMO) and gold picks up steam, I woulod expect the xau to clip 100 and head to 105 region pretty quickly. It would not surprise me for us to have a 5-8% jump in the xau next week. what are your thoughts for next week?
Technicaly, momentum has rolled over on the HUI and XAU but the macd are very strong. This reads consolidation and if gold comes back down through support, than the indices will retrace to their 50dma. So the question as always is in the $. If you believe it is going up from here than get out of the pms now, if you believe it has topped here at 83.17 today (it's close to the low now at 82.69) than this is a buy opportunity, or a re-balance to better picks...
IMO the $ is going down from here and some of the pm stocks will lead the way. Fundamentally, aem looks the strongest to me.
The golden years will begin tomorrow, good luck and let's hope we can enjoy them.
Any hope on GSS? Now trading @ $2.88. GSS is a real stinker in my portfolio. The first time I bought @$3.61 and sold just above $3.40. Second time I bought in the mid $2.90...Once again I am looking at losses.
I am so sorry about what happened since the November December rally to you. As much as it pissed me off that the covered calls I wrote took stocks away from me. It helped me beyond belief. I will do that again when I think the time is right I will sell all covered calls and sit and wait. That way you protect yourself and you are less apt to watch your portfolio shrink on the pullback. The one thing I have seen in the sector is at any one time, 5 stocks in the sector will not perform with the rest and on pullbacks 10 stocks will drop further than the rest and at some point in time you will have a major loser on your hands. In most cases that is GSS for many.