GREY:NWSKF - Post by User
Comment by
Kooleron Aug 25, 2011 2:15pm
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Post# 18979299
RE: Don't be surprised
RE: Don't be surprisedShort term traders are locking in their profit. This correction on the POG was generally anticipated by many after the recent parabolic rise. Nothing goes straight up, my friend. I believe margin call and High-frequency trading was exacerbating the fall of the POG. There should be good support around $1600 - $1650 level. If the POG falls to $1500, it’s time to pick out more juniors gold like NES and others.
It’s always good to take some profit after a huge rise so that you can have the cash to do some buying if it goes back on sale.