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Cliffs Natural Resources Inc. Message Board

stephenmcleod2004 2 posts  |  Last Activity: Jul 10, 2014 1:17 PM Member since: Oct 14, 2008
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  • stephenmcleod2004 stephenmcleod2004 Jul 10, 2014 1:17 PM Flag

    There is a short term risk of a drop back to the 100ema (~$125) after gold completes its move up to the 300ema (~$129) but this is forming up to be a classic 100ema/300ema bullish signal for the next major bull rally in gold.

    Once the 100 and 300 actually cross-- there will be a final fall back to the 300 - about a month after the 100 crosses the 300. Current likely targets for that fall are from 131 and 134. So, if you were aggressive, you could get an extra 6 to 9 dollars out of this move. Or you could sell 134 puts when they get cheap and not exit your position.

    From there it's going to be off to the races up to over 150. The P&F charts have been forecasting 166 for a while and they almost always undershoot. I'll be using a mixture of long and options. Trying for a little leverage but also long to avoid having to worry about timing so much.

  • Reply to

    Dollar Advances - Gold set for Massive Correction

    by wise4us Jul 3, 2014 10:01 AM
    stephenmcleod2004 stephenmcleod2004 Jul 7, 2014 11:22 PM Flag

    Gold and GLD are at the bottom of the move started in october of 2012. All the averages are converging. Once the 100ema crosses the 300ema from below- the price will move up quickly. While there will be corrections and falls back down to the 300ema (if you want to play that kind of thing on a weekly time scale) gold is headed back over 1600 and gld is headed back over 150.

CLF
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