yes I have thoughts of just holding too. We could get a candle pattern like the last move off 13 with no overlap for 5 days in a row. That's where the swing trade that live wire talked about would not work. I expect it to do this soon and then pause between 18-20 when we could get consolidation at the higher levels.
There is no question though that those levels will be reached soon.
If the who can push au over 420 and get support at 410, I'd imagine 30 would be here by end of oct, so risking 3 points down, to make 15 up, makes for a pretty darn good risk/reward ratio. The hard part is the 420/410 support part. Good luck, to you, this company has a nice low float/market cap, and is well capitalized, they could screw you by floating some shares, to capitalize on other royalty properties, in a an uptrend break-out, which gold companies love to do, which means you want to start smoking the ganja with Bob, now, just to calm your nerves in case it happens. Oh yeah, the gold gurus might issue sells to, leaving you to hold the bag too., bob's seen it all, and that's why he lives in perptual state of ganja. Go oil.
I do not disagree with trading RGLD. However based on gold fundamentals and the curretn chart pattern I think holding long in September and October (plus the dividend) is the best way to play RGLD right now. Thoughts?
close over 15.73 coinciding with a close over 410 spot and close on dollar under 88.75, and bob will load the bong here. It would be nice to see a little short squeeze to 16.9-17.45 anyway just to see, the stocks intentions. with the oi, soaring with a cap at 17.5, this rgld hui, looks to be a battle ground state. Go oil.
ed, give me your user name and log in password, I cant get into the street.com, or just post the damn article long form.
anyway, there is no link to rgld in a tech buying bonanza or mistake. This stock can go up like that first thing in the morning on short covering. There are a lot of sleepless shorts right now because of the awsome technicals and the apparent break out. I sensed this before the open and opportunisticly offered 10 lots at 16.17 (+5%) to help them cover. My reasoning is that 5% gains are not sustainable on low volume but can be expected as a spike during short covering on pog down days. Dr. Blackcat, I am slowly joining you in the trading but I still don't like the low volume. When it does pick up, the stock will hit your targets quickly.
RGLD spiked to $15.90 and once the rumor was out it spiked down to $14.94. Morgan Stanley was buying a basket of Russell stocks including RGLD. Look at the activity (chart) for RGLD for the first hour of trading this AM.
NEM and RGLD are green again. Did you notice The ISM dropped to 59 in August, the forecast of 60 down from July's reading of 62.0. Prices paid inched up to a new high of 81.5 from 80 last month.
Early Trading Error Rumor
9/1/04 9:52 AM ET
I don't know if anyone else saw the divergence in the small-cap index and ER2 futures vs. the rest of the market, but it was trading at a higher premium to the rest of the market, in a "weird" way. A few things are crossing the rumor paths, including an executed basket-order mishap that resulted in the move.
The Dow Can Still Move Higher
By Gary B. Smith
8/27/2004 8:21 AM EDT
Click here for more stories by Gary B. Smith
Today, the Dow Jones Industrial Average, Eastman Kodak (EK:NYSE - commentary - research), Royal Gold (RGLD:Nasdaq - commentary - research), Cisco (CSCO:Nasdaq - commentary - research), University of Phoenix Online (UOPX:Nasdaq - commentary - research) and Starbucks (SBUX:Nasdaq - commentary - research).
Can not print the chart. Basically bullish on RGLD on any close above $15.79 especially with expanded volume