Post by
cleareye on Feb 06, 2024 9:50am
Fed and aftermath - over.
Glad to see that the FED announcement and the aftermath is over, for another 6 weeks.
Yesterday, according to my personal chart, the price of gold dipped and bounced off support. That was gratifying.
Sorry to use this site for my personal emotional outpouring regarding the FED.
I see other posts trying to grapple with why the stock price is dropping, management self-serving, etc. I really don't understand those things. It's discouraging. I find that krr.to seems to be a wild trader, often going against the grain. It is also a terrible stock to own long-term because it seems to always come back to the same level, without regard to the price of gold. I don't understand that at all. Unfortunately, I'd have to say that it is a trader at this point, until such time as it starts to hold onto gains.
However, generally a gold stock is tied to the price of gold and I think that gold will eventually go higher this year. My personal musings over the past week were all tied to the price of gold. I think we're out of the woods and that we are heading higher now - at least to test the top of that compression triangle. If we blow through that (lets say keeping higher than 2085) then I can see the gains that some technicians speak of - leading us to around 2500 this year.
Good luck,
cleareye.